DGAP-News: YOUNIQ AG / Key word(s): Final Results/Miscellaneous YOUNIQ AG publishes final results and 2013 annual report 28.03.2014 / 07:55 --------------------------------------------------------------------- - Consolidated net loss of EUR 54.1 million confirmed (2012: EUR -7.1 million) - Carrying amount of properties in "Renting and Trading Real Estate" business area reduced to EUR 3.4 million to date - Current projects in "YOUNIQ - Student Housing" business area largely completed and rented - Further charges expected for 2014 despite successful start of restructuring measures Frankfurt am Main, March 28, 2014 - YOUNIQ AG, a real estate company specialising in student accommodation, has today published its final results for the 2013 fiscal year. The FY 2013 consolidated net loss amounted to EUR 54.1 million (previous year: EUR -7.1 million) in a year characterised by operating challenges. Of the losses, EUR 40.8 million were attributable to the core business of "YOUNIQ - Student Housing" (previous year: EUR +0.1 million), and EUR 13.3 million were attributable to discontinued operations (previous year: EUR -7.1 million). Losses of EUR 16.9 million from the market valuation of investment properties (previous year: EUR +6.7 million) placed a major burden on earnings in the business segments to be continued. The losses arise mainly from reductions to the sales prices of properties in Berlin and Göttingen, as well as retroactive construction cost adjustments of further properties in this segment. Losses of EUR 5.9 million from the disposal of properties (previous year: EUR -1.7 million) in the business segments to be continued, and a corporation income tax expense of EUR 8.6 million - resulting mainly from the reappraisal of the extent to which tax loss carryforwards can be utilised in the future, and consequently entailing a write-down applied to deferred tax assets - also contributed to the consolidated loss. YOUNIQ AG completed its Frankfurt-Riedberg II, Mainz, and Potsdam projects in its "YOUNIQ - Student Housing" core business in the 2013 fiscal year and transferred them to its own portfolio. The project in Bayreuth was also finished in early 2014, so that all projects are now completed. The Munich Berzeliusstrasse property was sold in the fourth quarter of 2013, and an option contract was concluded for the Frankfurt-Riedberg II property during the fourth quarter, too. YOUNIQ AG also significantly reduced its own portfolio of properties from its "Renting and Trading Real Estate" operations that are to be discontinued. The carrying amount of the remaining properties currently stands at EUR 3.4 million. This carrying amount was around EUR 6.9 million as of 31 December 2013 (31 December 2012: EUR 33.3 million), although further disposals of the EUR 3.5 million were notarially registered after the balance sheet date, with the transfer of benefits and encumbrances occurring prospectively during the first half of 2014. Total assets reduced to EUR 125.5 million (31 December 2012: EUR 157.6 million). Significant factors in this context included disposals in the "Renting and Trading Real Estate" business area, investments in current project developments in the "YOUNIQ - Student Housing" business area, retrospective construction cost adjustments and a write-down applied to deferred tax assets. Net financial liabilities stood at EUR 79.5 million as of the balance sheet date (31 December 2012: EUR 57.5 million), equivalent to net gearing (financial liabilities less liquid assets / real estate assets) of 73.7% (31 December 2012: 43.6%). This is mainly attributable to the increase in non-current liabilities. The equity ratio registered a marked decline from 51.5% at the end of 2012 to 21.7% as of 31 December 2013. Marcus Schmitz, Management Board member of YOUNIQ AG, appraises the 2013 results as follows: "YOUNIQ AG had to face significant operating challenges last year. The consolidated loss that we incurred should be the last of its type for YOUNIQ AG, although we are assuming that we will incur another consolidated loss of up to EUR 5.0 million in the 2014 fiscal year. This is particularly attributable to the properties in the "YOUNIQ - Student Housing" business area, which have now been completed and are currently in the marketing phase, but which will not register rising rental ratios until later in the year, as well as borrowing costs and depreciation charges applied to the setting-up of our student apartments. In this connection, with the Supervisory Board we are discussing potential measures to procure capital and liquidity in order to support our growth strategy. We are currently continuing to work intensively on cutting our operating overhead costs. We have already reduced them by around EUR 2.0 million per year to date, although this will not impact us financially until during the course of the current fiscal year. Following the full rental of our own properties by the end of the second half of 2014, our aim is to reach operating breakeven in the 2015 fiscal year through a further cutting of overhead costs at the holding company level." The 2013 annual report will be available for downloading during the course of today from the company's website at www.youniq-group.de within the Investor Relations area. Company profile 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 2,816 high-quality apartments. 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 --------------------------------------------------------------------- 28.03.2014 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 --------------------------------------------------------------------- 260166 28.03.2014