19.03.2018 Grand City Properties S.A.  LU0775917882

DGAP-News: Grand City Properties S.A. announces full year 2017 results, with achievements across the board

DGAP-News: Grand City Properties S.A. / Key word(s): Real Estate/Final Results Grand City Properties S.A. announces full year 2017 results, with achievements across the board 19.03.2018 / 07:00 The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- THIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF APPLICABLE LAWS OR REGULATIONS GRAND CITY PROPERTIES S.A. ANNOUNCES FULL YEAR 2017 RESULTS, WITH ACHIEVEMENTS ACROSS THE BOARD - Rental and operating income increased to EUR495 million from EUR436 million in 2016 - Adjusted EBITDA increased to EUR248 million, up 10% from EUR225 million YOY - FFO I grew by 11% to EUR178 million from EUR160 million - FFO I per share of EUR1.12, increased 7% year-over-year - Dividend per share of EUR0.73 based on a payout ratio of 65% (subject to AGM approval) - Net profit amounted to EUR639 million; basic earnings per share of EUR3.35 - EPRA NAV incl. perpetual notes increased by 24% from year-end 2016 to EUR4 billion; EUR24.2 per share, up from EUR20.7 per share - EPRA NAV of EUR3.3 billion, increased 31% from EUR2.5 billion at year-end 2016; EUR20.2 per share, up from EUR16.4 per share - Investment property value at EUR6.4 billion, growth of EUR1.6 bn (+33%) since year-end 2016 - Equity increased to EUR3.85 billion, up 26% since year-end 2016; equity ratio up to 51% - Low leverage maintained with LTV of 36% at year-end 2017, Strong financial position highlighted by increased average debt maturity of 8.5 years and maintained low average cost of debt of 1.6%, ICR of 6.2x and 64% unencumbered ratio - Continued strong organic growth with total like-for-like net rental income increase of 3.5% in 2017, with 2.3% from in-place rents growth and 1.2% from occupancy growth Luxembourg, March 19, 2018 - Grand City Properties S.A. (the "Company", "GCP") is pleased to report a successful year, which saw the Company generate increasing operational profits while experiencing continued growth across the board. Through demonstrated management expertise and its strong operational platform, GCP was able to deliver double-digit growth in operational results. The FFO I per share of EUR1.12 represents a yield of 5.8%, demonstrating the Company's proven ability to generate shareholder value through its successful business model and accretive growth, which is also reflected in the growth in the EPRA NAV per share incl. perpetual notes to EUR24.2. Based on a dividend payout policy of 65%, the Board of Directors dividend proposal for the AGM will be EUR0.73 per share, which reflects a yield of 3.8%. The consistently high profitability is supported by the Company's best in class financial position and credit profile with two high investment-grade credit ratings; GCP received a further credit rating upgrade to Baa1 by Moody's in September 2017 complementing the S&P rating of BBB+. Corporate and capital markets achievements topped by MDAX inclusion GCP successfully undertook various initiatives to further reinforce its strong market position, beginning with the uplisting of the Company's shares to the Prime Standard of the Frankfurt Stock Exchange in May 2017 and subsequently leading to MDAX inclusion in September 2017. Inclusion into key indices, which also included the Stoxx index family during the year, resulted in further capital markets visibility and a widened investor base. 2017 saw GCP continue its strong activity and achieved progress on the capital markets front, with EUR1.8 billion issued since the beginning of 2017 until year-to-date mainly targeted at proactive debt redemption management resulting in long average maturities of 8.5 years while maintaining a low cost of debt of 1.6%. Notably, GCP established its first EMTN program, facilitating the ability to issue debt in a variety of currencies and maturities, further expanding the financial flexibility at the Company's requirements. As a result, GCP has since issued its first foreign currency issues in Hong Kong dollars (HKD) and Swiss Francs (CHF) with currency swapped to Euro until maturity, marking another milestone in capital markets and increasing the investor base globally. The Company also made strides in its ambitions to be an active and responsible corporate player, with a strengthened focus on ESG initiatives undertaken during the year and reflected through several distinctions, including a Sustainalytics ranking of 91st percentile and Outperformer among over 300 real estate companies globally. The Company's high governance and ESG standards were also recognized by EPRA with the EPRA BPR Gold and Most Improved Company awards, sBPR Gold and Most Improved Company awards, and 1st place for Outstanding Contribution to Society, making GCP the most awarded company at the EPRA conference. Christian Windfuhr, CEO of Grand City Properties: "2017 was a highly successful year for us in which we accomplished several notable achievements. Our portfolio of high quality assets with strong embedded potential allows us to enjoy the benefits of a growing and secure cash flow stream while also creating sustainable value by continuously materializing on the upside potential of our assets, such as further reducing vacancies and bringing rents closer to market levels as we have done in 2017. Going into 2018, we will continue to focus on internal value generation within our portfolio while continuing to realize on attractive acquisition opportunities as they arise. I would like to thank the entire GCP family for their great contribution to the successful year we had and look forward to another great year in 2018." The full year 2017 annual report is available on the Company's website: http://grandcityproperties.com/en/downloads.html About the Company: Grand City Properties is a specialist in residential real estate, with a focus on value-add opportunities in densely populated areas in Germany. The Company's strategy is to improve its properties through repositioning and intensive tenant management, and then create value by subsequently raising occupancy and rental levels. Further information: www.grandcityproperties.com Grand City Properties (ISIN: LU0775917882) is a public limited liability company (société anonyme) incorporated under the laws of the Grand Duchy of Luxembourg, having its registered office at 1, Avenue du Bois, L 1251 Luxembourg and being registered with the Luxembourg trade and companies register (Registre de Commerce et des Sociétés Luxembourg) under number B 165 560. Since May 2012, Grand City Properties is listed on the Frankfurt Stock Exchange. Contact: Grand City Properties S.A. 1, Avenue du Bois L-1251 Luxembourg T: +352 28 77 87 86 E: [email protected] www.grandcityproperties.com Press Contact: Katrin Petersen Grand City Properties S.A. T: +49 (30) 374-381 5218 E: [email protected] Disclaimer: THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY ANY SECURITIES. THE SECURITIES MENTIONED IN THIS ANNOUNCEMENT HAVE NOT BEEN, AND WILL NOT BE, REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"), AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES ABSENT REGISTRATION OR AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT. THERE WILL BE NO PUBLIC OFFERING OF THE SECURITIES IN THE UNITED STATES. THIS ANNOUNCEMENT IS DIRECTED AT AND IS ONLY BEING DISTRIBUTED IN THE UNITED KINGDOM TO (I) PERSONS WHO HAVE PROFESSIONAL EXPERIENCE IN MATTERS RELATING TO INVESTMENTS FALLING WITHIN ARTICLE 19(5) OF THE FINANCIAL SERVICES AND MARKETS ACT 2000 (FINANCIAL PROMOTION) ORDER 2005 (THE "ORDER"), (II) HIGH NET WORTH ENTITIES, AND OTHER PERSONS TO WHOM IT MAY OTHERWISE LAWFULLY BE COMMUNICATED FALLING WITHIN ARTICLE 49 OF THE ORDER, AND (III) PERSONS TO WHOM IT MAY OTHERWISE LAWFULLY BE COMMUNICATED (ALL SUCH PERSONS TOGETHER BEING REFERRED TO AS "RELEVANT PERSONS"). THIS COMMUNICATION MUST NOT BE READ, ACTED ON OR RELIED ON BY PERSONS WHO ARE NOT RELEVANT PERSONS. ANY INVESTMENT OR INVESTMENT ACTIVITY TO WHICH THIS ANNOUNCEMENT RELATES IS AVAILABLE ONLY TO RELEVANT PERSONS AND WILL BE ENGAGED IN ONLY WITH RELEVANT PERSONS. IN MEMBER STATES OF THE EUROPEAN ECONOMIC AREA ("EEA"), THIS ANNOUNCEMENT AND ANY OFFER IF MADE SUBSEQUENTLY IS DIRECTED ONLY AT PERSONS WHO ARE "QUALIFIED INVESTORS" WITHIN THE MEANING OF ARTICLE 2(1)(E) OF DIRECTIVE 2003/71/EC, AS AMENDED (THE "PROSPECTUS DIRECTIVE") ("QUALIFIED INVESTORS"). ANY PERSON IN THE EEA WHO ACQUIRES THE SECURITIES IN ANY OFFER (AN "INVESTOR") OR TO WHOM ANY OFFER OF THE SECURITIES IS MADE WILL BE DEEMED TO HAVE REPRESENTED AND AGREED THAT IT IS A QUALIFIED INVESTOR. ANY INVESTOR WILL ALSO BE DEEMED TO HAVE REPRESENTED AND AGREED THAT ANY SECURITIES ACQUIRED BY IT IN THE OFFER HAVE NOT BEEN ACQUIRED ON BEHALF OF PERSONS IN THE EEA OTHER THAN QUALIFIED INVESTORS, NOR HAVE THE SECURITIES BEEN ACQUIRED WITH A VIEW TO THEIR OFFER OR RESALE IN THE EEA TO PERSONS WHERE THIS WOULD RESULT IN A REQUIREMENT FOR PUBLICATION BY THE COMPANY OR ANY OF THE MANAGERS OF A PROSPECTUS PURSUANT TO ARTICLE 3 OF THE PROSPECTUS DIRECTIVE. THIS ANNOUNCEMENT MAY CONTAIN PROJECTIONS OR ESTIMATES RELATING TO PLANS AND OBJECTIVES RELATING TO OUR FUTURE OPERATIONS, PRODUCTS, OR SERVICES, FUTURE FINANCIAL RESULTS, OR ASSUMPTIONS UNDERLYING OR RELATING TO ANY SUCH STATEMENTS, EACH OF WHICH CONSTITUTES A FORWARD-LOOKING STATEMENT SUBJECT TO RISKS AND UNCERTAINTIES, MANY OF WHICH ARE BEYOND THE CONTROL OF GRAND CITY PROPERTIES S.A. ACTUAL RESULTS COULD DIFFER MATERIALLY, DEPENDING ON A NUMBER OF FACTORS. --------------------------------------------------------------------------- 19.03.2018 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de --------------------------------------------------------------------------- Language: English Company: Grand City Properties S.A. 1, Avenue du Bois 1251 Luxembourg Luxemburg Phone: +352 28 77 87 86 Fax: +352 28 77 87 84 E-mail: [email protected] Internet: grandcityproperties.com ISIN: LU0775917882, XS1130507053, XS1191320297, XS1220083551, XS1491364953, XS1373990834, XS1654229373 WKN: A1JXCV , A1ZRRK, A1ZW4K, A1ZZ49, A186BF, A18YJ1 Indices: MDAX Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange; Dublin, Luxemburg End of News DGAP News Service --------------------------------------------------------------------------- 665371 19.03.2018

Die wichtigsten Finanzdaten auf einen Blick
  2016 2017 2018 2019 2020 2021 2022e
Umsatzerlöse1 442,67 496,88 545,23 560,30 535,42 517,00 0,00
EBITDA1,2 824,56 870,54 782,31 696,74 645,20 362,00 0,00
EBITDA-Marge3 186,27 175,20 143,48 124,35 120,50 70,02 0,00
EBIT1,4 822,86 868,48 779,74 692,87 640,16 294,00 0,00
EBIT-Marge5 185,89 174,79 143,01 123,66 119,56 56,87 0,00
Jahresüberschuss1 653,11 639,15 583,03 493,36 449,07 330,00 0,00
Netto-Marge6 147,54 128,63 106,93 88,05 83,87 63,83 0,00
Cashflow1,7 201,29 202,31 224,52 249,49 242,15 0,00 0,00
Ergebnis je Aktie8 3,25 3,06 2,76 2,30 2,01 1,85 1,96
Dividende8 0,68 0,73 0,77 0,82 0,82 0,85 0,87
Quelle: boersengefluester.de und Firmenangaben

  Geschäftsbericht 2020 - Kostenfrei herunterladen.  
1 in Mio. Euro; 2 EBITDA = Ergebnis vor Zinsen, Steuern und Abschreibungen; 3 EBITDA in Relation zum Umsatz; 4 EBIT = Ergebnis vor Zinsen und Steuern; 5 EBIT in Relation zum Umsatz; 6 Jahresüberschuss (-fehlbetrag) in Relation zum Umsatz; 7 Cashflow aus der gewöhnlichen Geschäftstätigkeit; 8 in Euro; Quelle: boersengefluester.de

Wirtschaftsprüfer: KPMG

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Grand City Properties
WKN Kurs in € Einschätzung Börsenwert in Mio. €
A1JXCV 19,630 Halten 3.673,34
KGV 2023e KGV 10Y-Ø BGFL-Ratio Shiller-KGV
9,39 7,87 1,21 8,12
1,03 15,17 6,86 12,20
Dividende '20 in € Dividende '21e in € Div.-Rendite '21e
in %
0,82 0,85 4,33 29.06.2022
Q1-Zahlen Q2-Zahlen Q3-Zahlen Bilanz-PK
17.05.2022 15.08.2022 15.11.2021 16.03.2022
Abstand 60Tage-Linie Abstand 200Tage-Linie Performance YtD Performance 52 Wochen
-8,06% -11,83% -5,99% -5,08%
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