DGAP-News: YOUNIQ AG / Key word(s): Half Year Results YOUNIQ AG publishes financial report on first half of 2014 28.08.2014 / 07:58 --------------------------------------------------------------------- YOUNIQ AG publishes financial report on first half of 2014 Frankfurt/Main, 28 August 2014 - YOUNIQ AG, a leading provider of student accommodation across Germany, today published its H1 2014 financial report with the figures for the first six months of the 2014 financial year. With results significantly improved year-on-year but still negative, the result of operations was consistent overall with the guidance published in the forecast for the year. EBIT in continuing operations amounted to EUR -1.8 million in the first half of the year after EUR -13.1 million in the same period of the previous year. The consolidated net loss was EUR 3.8 million (H1 2013: loss of EUR 21.4 million). In continuing operations the consolidated net loss amounted to EUR 2.9 million (H1 2013: loss of EUR 14.2 million), in discontinued operations it was EUR 0.9 million (H1 2013: loss of EUR 7.2 million). The loss in the continuing operations "YOUNIQ - Student Housing" and "Services" relates essentially to write-downs on investment property in Bayreuth and Potsdam in addition to risk provisions for litigation costs in connection with the property in Lübeck in the amount of around EUR 1.0 million in total. The reduced carrying amounts of the Bayreuth and Potsdam properties reflect the drop in letting rates compared to those originally planned for the end of June on account of the delays in completing the buildings. With letting activities continuing, YOUNIQ is currently assuming that these write-downs will be reversed as at 31 December 2014. Net operating income did not fully cover administrative and staff costs. Savings of around a third as against the same period of the previous year in general staff and administrative costs were offset by consistently high costs, as planned, for legal consulting and the stock exchange listing. The winding up of the discontinued operations "Renting and Trading Real Estate" and "Project Development" is at a very advanced stage. At the current time, the property portfolio in the "Renting and Trading Real Estate" segment now consists of essentially just one property in Brandenburg with a carrying amount of less than EUR 3.0 million. Here, incidental costs of sale and prepayment penalties on properties sold off in the first half of the year reduced earnings by EUR 0.3 million. As at 30 June 2014, total assets declined further to EUR 96.4 million (31 December 2013: EUR 125.5 million). This was due to the fact that property sales on account of the advanced completion of development properties were offset by only low capital investment levels. In light of this, financial liabilities were also down significantly by EUR 19.8 million at EUR 62.8 million. Equity amounted to EUR 23.5 million as at 30 June 2014 (31 December 2013: EUR 27.2 million), corresponding to an equity ratio of 24.4% (31 December 2013: 21.7%). The half-year financial report as at 30 June 2014 will be available for download on the www.youniq-group.de website in the Investor Relations section later in the day. 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 around 2,500 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 Rolf Becker Phone: +49 (0)611 - 205855-40 Fax: +49 (0)611 - 205855-66 Email: [email protected] --------------------------------------------------------------------- 28.08.2014 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. 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 --------------------------------------------------------------------- 284277 28.08.2014