DGAP-News: YOUNIQ AG / Key word(s): Quarter Results YOUNIQ AG publishes results for first nine months of 2013 14.11.2013 / 07:57 --------------------------------------------------------------------- - Munich Berzeliusstrasse project successfully sold to investor - Total of 38 properties from old portfolio sold during first nine months of 2013, leaving residual 10 properties - Significant charges expected to burden FY 2013 earnings Frankfurt am Main, 14 November 2013 - YOUNIQ AG, the leading provider of student housing in Germany, has today published its results for the first nine months of the 2013 financial year. Various operating challenges over the course of the year and the third quarter fed through to significant charges to earnings. In its continuing operations, the company incurred a loss of EUR -18.9 million before interest and tax (EBIT) compared with a profit of EUR 2.3 million during the first nine months of 2012, while recording a consolidated net loss of EUR -21.5 million (9M 2012: consolidated net profit of EUR 0.8 million). This is primarily attributable to the market valuation of investment properties in the 'YOUNIQ - Student Housing' segment, which arose mainly from a review of construction cost calculations conducted by external surveyors, and a book loss on the disposal of a property in Berlin's Iranische Strasse. At Group level, the YOUNIQ Group posted a loss before earnings and tax of EUR -27.2 million (9M 2012: profit of EUR 3.5 million), and a consolidated net loss of EUR -31.1 million (9M 2012: profit of EUR 0.1 million). Despite these significant charges, YOUNIQ AG achieved operating progress in winding down its discontinued operations. The property portfolio of its 'Renting and Trading Real Estate' segment was reduced to 10 properties comprising 129 units during the first nine months of the 2013 financial year. These figures had stood at 48 properties comprising 706 units as of the 2012 year-end. Impairment charges, ancillary sales costs and exit penalties nevertheless fed through to further charges on earnings during the third quarter. The company sold three properties from its 'YOUNIQ - Student Housing' core business segment to investors, including two at the end of the reporting period. With the properties in Göttingen and Berlin, YOUNIQ has divested from two locations that no longer met the company's quality standards. The property in Munich's Berzeliusstrasse was successfully sold to an investor after a rapid first rental. YOUNIQ AG will continue to be responsible for managing the Munich property in order to strengthen the presence of the brand. The sales proceeds are to be employed in the operating business. Total assets decline by around 3.6% to EUR 152.0 million as of the September 30, 2013 reporting date (December 31, 2012: EUR 157.6 million), which is primarily attributable to further disposals in the 'Renting and Trading Real Estate' segment. Financial liabilities rose to EUR 86.8 million (December 31, 2012: EUR 66.2 million), predominantly reflecting the drawing down of additional bank borrowings for investments in the 'YOUNIQ - Student Housing' segment. Equity stood at EUR 50.2 million as of September 30, 2013 (December 31, 2012: EUR 81.2 million), equivalent to a 33.0% equity ratio (December 31, 2012: 51.5%). Marcus Schmitz, CEO of YOUNIQ AG, commented as follows: 'YOUNIQ currently faces major operating challenges. As we have already announced, these challenges will place a considerable burden on full-year results. We nevertheless identify progress due to further property disposals from our non-core business. The sale of our site in Munich's Berzeliusstrasse provides evidence of our offering's continued attractiveness to investors.' The quarterly financial report as of September 30, 2013 will be available for downloading during the course of today on the company's website at www.youniq-group.de within the Investor Relations area. Company profile YOUNIQ AG YOUNIQ AG has focused on student accommodation since 2009. The company covers a significant range of the value chain - ranging from the purchase of real estate and land, through project development including planning, planning permission procurement and construction, all the way through to commercial and technical management. YOUNIQ has developed into a leading provider for this segment with 2,800 high-quality apartments currently in the management or construction phases. These properties are located at ten sites in Germany, including Munich, Erlangen, Karlsruhe, Frankfurt / Main, Mainz, Potsdam, Leipzig and Bayreuth. YOUNIQ bundles its many years of experience in project development and portfolio management for largely residential properties. YOUNIQ AG (ISIN: DE000A0B7EZ7, German Securities Identification Code/WKN: A0B7EZ) is listed on the Frankfurt Stock Exchange (Prime Standard). Further information is available from: www.youniq-group.de Contact: Investor Relations cometis AG Dirk Ulmer Phone: +49 (0)611 - 205855-24 Fax: +49 (0)611 - 205855-66 Email: [email protected] End of Corporate News --------------------------------------------------------------------- 14.11.2013 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: YOUNIQ AG Eschersheimer Landstraße 6 60322 Frankfurt am Main Germany Phone: +49 (0)69-2474720 Fax: +49 (0)69-247472100 E-mail: [email protected] Internet: www.youniq-group.de ISIN: DE000A0B7EZ7 WKN: A0B7EZ Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, Stuttgart End of News DGAP News-Service --------------------------------------------------------------------- 239781 14.11.2013