Frankfurt (pta009/15.01.2019/08:30) - --
- Cash capital increase executed and registered at end of year
- Takeover of Frankfurter Airport Center completed
- Application for listing in Regulated Market (General Standard)
- Further strong growth planned in 2019
Frankfurt, 15. January 2019. ERWE Immobilien AG (ISIN DE000A1X3WX6, ERWE), Frankfurt am Main, can report enormous growth steps and concluded its 2018 financial year on a highly successful note. At the end of the year, ERWE successful executed a cash capital increase in a difficult market climate, providing the company with cash funds of Euro 18.24 million. In a share deal also executed at the end of the year, ERWE took over the Airport Center ("FAC1") at Frankfurt Airport with a joint venture partner for a net purchase price of Euro 168 million (closing). The total investment volume is budgeted at just over Euro 211 million. Given the recent completion of the FAC1 investment, the company will report total assets of around Euro 130 million at the end of 2018. Back in April 2018, this key figure still amounted to a mere Euro 0.84 million.
At ERWE Immobilien AG, this process was kicked off by the non-cash capital increase which took effect at the beginning of May 2018 and raised the company's share capital from Euro 1.1 million to Euro 10.162 million. Following the cash capital increase, share capital has risen by a further Euro 6.4 million to its current year-end total of Euro 16.562 million. The non-cash capital increase involved contributing ERWE Retail Immobilien GmbH to the former Deutsche Technologie Beteiligungen AG (DeTeBe), Munich.
"We can be proud of our company's development in 2018. With our acquisitions in Lübeck, Krefeld and at Frankfurt Airport, we have in the briefest of periods laid a stable foundation with potential for our company", comments Rüdiger Weitzel, a member of ERWE's Management Board. "For 2019, as well as the takeover of the Euro 150 million project in Friedrichsdorf we have planned further investments in attractive properties offering potential", he adds.
Upon completion of the cash capital increase, ERWE simultaneously applied for admission of its stock to the Regulated Market. The company now is listed in the General Standard and has free float of more than 20 percent. "By taking these steps, we have created a basis to become interesting for institutional investors as well. This way, we will be able to make further progress on our growth course once again in 2019", comments Management Board member Axel Harloff.
ERWE Immobilien AG focuses on developing promising downturn commercial real estate in prime locations in small and medium-sized towns and cities with more than 10,000 inhabitants. Projects include office and hotel use, as well as downturn retail space. The company is listed in the Regulated Market (General Standard) at the stock exchange in Frankfurt am Main (XETRA) and Open Market in Berlin, Düsseldorf and Stuttgart (ISIN: DE000A1X3WX6). Since ERWE Retail Immobilien GmbH was contributed, the company has maintained the successful commercial real estate and retail centre operations previously performed by ERWE Real Estate GmbH, which in the past cooperated with prestigious joint venture partners.
ERWE Immobilien AG works on its own account and on behalf of third parties to develop projects whose value can be released or significantly enhanced by working with new concepts. As well as recovering the value growth thereby achieved in individual cases, ERWE Immobilien AG also aims to sustainably expand its portfolio and generate substantial revenue growth.
Contacts for enquiries:
german communications AG
Milchstr. 6 B
20148 Hamburg 20354 Hamburg
T. +49-40-4688330, F. +49-40-46883340
Hillermann Consulting e. K.
Streit´s Hof, Poststraße 14-16
T. +49-40-32027910, F.+49-40-320279114
|emitter:||ERWE Immobilien AG|
|contact person:||Christian Hillermann|
|phone:||+49 40 320 279-10|
|stock exchanges:||basic board in Frankfurt, free market in Munich, free market in Stuttgart; open market in Berlin|