DGAP-News: WCM Beteiligungs- und Grundbesitz-AG / Key word(s): Half Year Results WCM continues growth path with half-year results and plans dividend pay-out for 2016 22.08.2016 / 08:30 The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- WCM continues growth path with half-year results and plans dividend pay-out for 2016 - Real estate portfolio grew by 13.8% to EUR 575.6 million (year-end 2015: EUR 505.7 million) - FFO I stands at EUR 8.3 million (prev. year: EUR 0.2 million) - Annualised rental income increased to EUR 33.7 million (year-end 2015: EUR 31.5 million) - EPRA NAV rose to EUR 335.0 million or EUR 2.54 per share (year-end 2015: EUR 290.6 million or EUR 2.38 per share) - First dividend pay-out since operational restart planned for full year 2016 - Management board reaffirms 2016 forecast Frankfurt, 22 August 2016 - WCM Beteiligungs- und Grundbesitz-AG (WCM AG, ISIN: DE000A1X3X33) continued its growth path with the 2016 half-year results. The company reaffirms its forecast and expects to pursue additional acquisitions in the forthcoming months. As a consequence of the half-year results, WCM is planning to pay out a dividend for the full year 2016 for the first time since its operational restart. The dividend amount will be proposed following the conclusion of the 2016 fiscal year. Earnings and EPRA NAV substantially increased The earnings of WCM rose significantly to EUR 13.4 million compared to EUR 0.8 million in the previous year. The improved results were driven by an increase in rental income, successful divestments and revaluation of the portfolio. For the first time the 2015 acquired assets were fully reflected in the half-year results. WCM's funds from operations (FFO I) increased to EUR 8.3 million or EUR 0.07 per share in comparison to EUR 0.2 million or EUR 0.01 per share for the period of the previous year. The FFO II including the divestments in the first six months stands at EUR 9.1 million or EUR 0.08 per share. As of 30 June 2016, the EPRA Net Asset Value (NAV) rose by 15.3% to EUR 335.0 million compared to EUR 290.6 million at the year-end 2015. In addition, the net loan-to-value (Net-LTV) remained in WCM's lower target corridor at 50.1% compared to 50.0% at 2015 year-end. Portfolio successfully managed and expanded WCM's portfolio amounted to EUR 575.6 million despite the disposal of several non-strategic assets above book value. In addition to two newly acquired assets, WCM reports additional value-enhancing measures for the portfolio resulting in a moderate uplift in valuation. The newly acquired retail park in Straubing, closed at the end of June 2016 for a gross purchase price of c. EUR 55 million, is adding annual rental income of EUR 3.5 million and will positively contribute to the FFO in the second half of the year. The rental income for the first six months of the current year rose significantly to EUR 15.4 million versus EUR 2.2 million for the same period in 2015. The annualised rental income of WCM's portfolio amounts to EUR 33.7 million and is EUR 2.2 million p.a. higher than the reported figures at the end of 2015. New and extended leases were successfully signed and added additional value to WCM's portfolio. The successful leasing activities resulted in an EPRA vacancy decrease of 70 b.p. from 4.8 % at the end of 2015 to 4.1% at the end of June 2016 with the weighted average lease time (WALT) remaining stable at the high level of 9.4 years. The average cost of debt decreased slightly from 2.1% to 2.0% and is expected to further decrease with new acquisitions in the forthcoming months. Further acquisitions anticipated - Forecast reaffirmed WCM will continue its investment strategy and build-up of the portfolio with the focus on top quality office and retail assets. The management board is confident to further acquire a substantial number of assets during the remainder of the current year. On the back of the published results, the company reaffirms the 2016 forecast with a FFO target range of EUR 18 to 21 million. The half-year report including a detailed company presentation is available for download at the Investor Relations section on the company's website www.wcm.de/en. WCM Group Key IFRS Figures in kEUR 1 January - 1 January - Absolute Change in WCM Key Income 30 June 2016 30 June 2015 change % Figures Rental income 15,442 2,193 13,249 >100 Net rental income 14,321 2,125 12,196 >100 Consolidated 13,372 785 12,587 >100 profit for the period FFO I 8,301 221 8,080 >100 FFO I per share 0.07 0.01 0.06 >100 (in EUR) FFO II 9,100 n/a n/a n/a FFO II per share 0.08 n/a n/a n/a (in EUR) Earnings per 0.11 0.02 0.09 >100 share (in EUR), undiluted Earnings per 0.11 0.02 0.09 >100 share (in EUR), diluted in kEUR 30 June 31 December Absolute Change in WCM Key Balance Sheet 2016 2015 change % Figures Investment properties 575,569 505,731 69,838 13.8 Total assets 659,123 550,924 108,199 19.6 Shareholder's equity 309,605 269,582 40,023 14.8 Financial liability 325,970 264,131 61,839 23.4 Net Loan-to-Value 50.1 50.0 0.1 0.2 (LTV) in % EPRA NAV 334,938 290,608 44,330 15.3 EPRA NAV per share 2.54 2.38 0.16 6.6 (in EUR) EPRA NNNAV per share 2.19 2.22 -0.03 -1.4 (in EUR) Key Portfolio Figures 30 June 2016 31 December 2015 Number of assets 49 49 Lettable area 271,056 m² 293,986 m² Annualised rental income 33,725 31,533 in kEUR EPRA net initial yield 5.3 5.6 (NIY) in % EPRA vacancy rate in % 4.1 4.8 Weighted Average 9.4 9.4 remaining lease time (WALT) Average cost of debt in % 2.0 2.1 About WCM AG WCM Beteiligungs- und Grundbesitz-AG (WCM AG), with headquarters in Frankfurt am Main, is a specialised commercial real estate company. As a real estate proprietor, the focus is on long-term rental of high-quality office and retail properties in the major office locations in Germany. Since the operational restart in 2014, WCM AG has focused on an extensive network for the acquisition of properties as well as on value-creating asset management, in order to generate attractive long-term rental income and a steady cash flow. The portfolio has a gross asset value of c. EUR 600 M. The company has extensive loss carry forwards in corporate and commercial tax. Shares of WCM AG are listed in the SDAX of Deutsche Boerse since 21 December 2015. Press contact: edicto GmbH Axel Mühlhaus/ Dr. Sönke Knop Eschersheimer Landstraße 42 60322 Frankfurt am Main +49 (0) 69-905505-51 [email protected] --------------------------------------------------------------------------- 22.08.2016 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: WCM Beteiligungsund Grundbesitz-AG Bleichstr. 64-66 60313 Frankfurt am Main Germany Phone: +49 (0)30 8870 476-10 Fax: +49 (0)30 8870 476-20 Internet: www.wcm.de ISIN: DE000A1X3X33, SDAX WKN: A1X3X33 Listed: Regulated Market in Berlin, Dusseldorf, Frankfurt (Prime Standard), Hamburg, Stuttgart; Regulated Unofficial Market in Munich, Tradegate Exchange End of News DGAP News Service --------------------------------------------------------------------------- 494567 22.08.2016