DGAP-News: KWG Kommunale Wohnen AG / Key word(s): Quarter Results/Real Estate KWG Kommunale Wohnen AG: KWG shows successful Q1 2013 08.05.2013 / 08:20 --------------------------------------------------------------------- - Net Cold Rent almost doubled to EUR 8.0 mn (prev. EUR 4.1 mn) - FFO more than tripled to EUR 2.5 mn (prev. EUR 0.7 mn) - Forecast for full year 2013 confirmed Hamburg - 08 May 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, looks back on a very successful first quarter 2013. The Q1 2013 net result improved vs. last year's net result to EUR 2.2 mn (prev. EUR 0.3 mn). At the same time Earnings before Interest and Taxes (EBIT) increased by 136% to EUR 5.2 million. Funds from Operations (FFO) also improved materially from EUR 0.7 million in Q1 2012 to EUR 2.5 million in Q1 2013. The successful start into the 2013 fiscal year has also been reflected in Revenues which reflect the development of gross rental income. Q1 2013 Revenues improved by 93% to EUR 11.4 million (prev. 5.9 mn) while Net Cold Rents increased over proportionally by 96% to EUR 8.0 million in Q1 2013 (prev. EUR 4.1 mn). The corporate value of KWG was also improved due to investments in the portfolio. Accordingly, the Net Asset Value per share increased to EUR 10.45 (31.12.2012: EUR 10.32). The NNNAV per share rose to EUR 11.34 (31.12.2012: EUR 11.19). This results in a discount to the current share price of approximately 38%. For the first time the Q1 results 2013 include the rental income from around 2.900 rental units which had been acquired in December 2012. The successful start into 2013 is in line with the management board's positive expectations for the current business year. The 2013 forecast with Net Cold Rents of EUR 30 mn, FFO of EUR 5.0 mn and a net result of EUR 4.4 mn is confirmed. 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 --------------------------------------------------------------------- 08.05.2013 Dissemination of a Corporate News, transmitted by DGAP - a company of EquityStory 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 --------------------------------------------------------------------- 210200 08.05.2013