Brief: Hamborner REIT FY Net Profit Down At EUR 17.9 Million

HAMBORNER REIT AG

26/03/2020 06:13

March 26 (Reuters) - Hamborner REIT AG  HABG.DE :
    * FY RENTAL INCOME (+ 2.1%) AND FFO (+ 3.1%) CLIMB TO RECORD
LEVELS
    * FORECAST WITHDRAWN OVER GLOBAL VIRUS PANDEMIC
    * RENTAL SPACE NOT AFFECTED BY CLOSURES CURRENTLY ACCOUNTS
FOR
AROUND 75% OF RENTAL INCOME
    * FY INCOME FROM RENTS AND LEASES WERE AT A RECORD LEVEL OF
EUR
85.2 MILLION IN 2019, UP BY EUR 1.8 MILLION OR 2.1% ON 2018.
    * FY OPERATING RESULT AMOUNTED TO EUR 33.3 MILLION (PREVIOUS
YEAR:
EUR 32.8 MILLION)
    * FY NET PROFIT FOR YEAR WAS EUR 17.9 MILLION, DOWN ON
PREVIOUS
YEAR'S LEVEL (EUR 19.4 MILLION)
    * BOARD EXPECTS THAT, WITHIN PERIOD PROVISIONALLY FROM APRIL
TO
JUNE 2020, A NUMBER OF AFFECTED TENANTS WILL REDUCE OR ENTIRELY
SUSPEND RENT PAYMENTS.
    * IT IS CURRENTLY NOT POSSIBEL FOR MANAGEMENT BOARD TO
FORMULATE A
FORECAST FOR FURTHER BUSINESS PERFORMANCE IN 2020 FINANCIAL
YEAR.
    * A NEW FORECAST WILL BE PUBLISHED AS SOON AS IMPLICATIONS
OF
COVID-19 FOR BUSINESS CAN BE RELIABLY ASSESSED.

Source text for Eikon:  ID:nEQ6mGvFya 
Further company coverage:  HABG.DE 

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