DGAP-News: KWG Kommunale Wohnen AG / Key word(s): Half Year Results/Real Estate KWG Kommunale Wohnen AG: KWG demonstrates strong growth in H1 2013 07.08.2013 / 08:05 --------------------------------------------------------------------- - Net Rental Income increased considerably to EUR 15.6 mn. (H1 2012 EUR 9.0 mn.) - FFO almost tripled to EUR 3.4 mn. (H1 2012 EUR 1.2 mn.) - Forecast for FY 2013 confirmed. Hamburg - 07 August 2013 - KWG Kommunale Wohnen AG, a long-term oriented property holding company of residential real estate in which Austrian conwert Immobilien Invest SE holds a 76% majority stake, reports a very positive development of its operating business for H1 2013. Its H1 2013 Revenue increased to EUR 22.5 mn. (H1 2012 EUR 12.7 mn.). At the same time Net Rental Income rose by 73% to EUR 15.6 mn as compared to EUR 9.0 mn. in H1 2012. Funds from Operations (FFO) also rose considerably from EUR 1.2 mn. in H1 2012 to EUR 3.4 mn. for the first half of 2013. Total Comprehensive Income as per 30 June 2013 amounted to EUR 5.1 mn. Due to one-off effects amounting to a positive non-cash contribution of EUR 13.0 mn from the first time consolidation of its subsidiary Barmer Wohnungsbau AG in H1 2012 the current six-months'-result cannot be compared directly to the H1 2012 result of EUR 20.4 mn. On a like-for-like basis adjusted for non-cash components, the Group's cash-effective net result increased from EUR 0.8 mn in H1 2012 to EUR 2.9 mn in H1 2013. NNNAV per share rose to EUR 11.56 as per 30 June 2013 (31 Dec. 2012: EUR 11.19). The positive development results on one hand from the expansion of the Group's portfolio through the acquisition of approx. 2,900 units in December 2012. The results of the acquired portfolio have been fully consolidated over this reporting period and contributed EUR 4.8 mn. of Net Rental Income during H1 2013. In addition the portfolio's value was further enhanced through extensive investments. KWG has started its most comprehensive refurbishment programme in the company's history in H1 2013. During the first six months of 2013 it invested EUR 3.7 mn into the development of its portfolio (H1 2012 EUR 2.7 mn). The clearly focused investments into the portfolio's value are to be continued in H2 2013, while the company progresses on its profitable path of growth. Based on the positive development of the company's H1 results the management board confirms its forecast for FY 2013. KWG expects FY 2013 Net Rental Income of EUR 30 mn. and an FFO of EUR 5.0 mn. The H1 2013 report will be available for download in the Investor Relations section of the company's website from 14 August 2013. Contact KWG Kommunale Wohnen AG Jan Hutterer Alstertor 9 20095 Hamburg Germany Tel.: +49/ 40/ 2263088-100 eMail: [email protected] www.kwg-ag.de End of Corporate News --------------------------------------------------------------------- 07.08.2013 Dissemination of a Corporate News, transmitted by DGAP - a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- Language: English Company: KWG Kommunale Wohnen AG Alstertor 9 20095 Hamburg Germany Phone: 040 22 63 088 100 Fax: 040 22 63 088 200 E-mail: [email protected] Internet: www.kwg-ag.de ISIN: DE0005227342 WKN: 522734 Listed: Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover, München, Stuttgart; Frankfurt in Open Market (Entry Standard) End of News DGAP News-Service --------------------------------------------------------------------- 224539 07.08.2013