ERWE Immobilien AG: ERWE Immobilien AG posts profitable start to new financial year

Frankfurt (pta017/28.05.2019/08:45 UTC+2) ...
* Consolidated net income of Euro 3.069 million in first quarter
* LTV at just 39.5 percent
* Significant rental income growth in future

Frankfurt/M., 28. May 2019. ERWE Immobilien AG (ISIN DE000A1X3WX6, ERWE), Frankfurt am Main, has begun the 2019 financial year with good results. In the first quarter, the com-pany generated consolidated net income (after taxes) of Euro 3.069 million. This figure was influenced in particular by the inclusion of pieces of land acquired in Friedrichsdorf in March 2019, where the company plans to build a business park with a total usable space of around 58,000 m2. The fair value measurement pursuant to IAS 40 resulted in remeasurement in-come of Euro 5.433 million, from which deferred taxes of Euro 1.44 million require deduction.

No previous year's figures are available for comparison, as the company only took its current form upon the contribution of ERWE Retail Immobilien GmbH at the beginning of May 2018 and previously had virtually no operations. Although the previous year was shaped by high volumes of investment in building up the company's portfolio, as was the first quarter of 2019, the loan-to-value figure at the end of March 2019 was still very low at 39.5 percent (end of 2018: 36.8 percent). The equity ratio was also highly solid at 38.5 percent of the company's total assets of Euro 128.744 million.

"These robust indicators offer us scope for further growth", comments Axel Harloff, member of the Management Board of ERWE Immobilien AG. "Not only that, we have strong tailwind from the lettings success we have achieved with our projects." In Lübeck, the company has let around 7,700 m2, and thus more than half of the Königpassage centre, to the city administration, which will be operating a civic centre there. At Frankfurter Airport Center 1, located opposite Terminal A at Frankfurt Airport, space of more than 5,000 m2 has been let, raising the occupancy rate to 92 percent already. "Given very strong demand, we expect all of the space to be let by the end of the year", Harloff continued. ERWE holds a 10.1 percent stake in FAC1 and has also been commissioned to revitalise and optimise lettings at this business centre at the heart of Frankfurt Airport.

Particularly given the pleasing balance sheet indicators, the Management Board is reviewing further measures, also on behalf of the Supervisory Board, to further optimize the capital situation of ERWE Immobilien AG and safeguard its options for acquisitions.

ERWE Immobilien AG focuses on developing promising downtown commercial real estate in prime locations in small and medium-sized towns and cities with more than 10,000 inhabitants. Projects include office and hotel use, as well as downtown retail space. The company is listed in the Regulated Market (General Standard) in Frankfurt and in the open market on the stock exchanges in Frankfurt am Main (XETRA), Berlin, Düsseldorf und Stuttgart (ISIN: DE000A1X3WX6). ERWE Immo-bilien AG works on its own account and on behalf of third parties to develop projects whose value can be released or significantly enhanced by working with new concepts. As well as recovering the value growth achieved in individual projects, ERWE Immobilien AG also aims to sustainably expand its portfolio and generate substantial revenue growth.

Contacts for enquiries:

german communications AG
Jörg Bretschneider
Milchstr. 6 B
20148 Hamburg
T. +49-40-4688330, F. +49-40-46883340
presse@german-communications.com

Investor Relations:
Hillermann Consulting e. K.
Christian Hillermann
Streit´s Hof, Poststraße 14-16
20354 Hamburg
T.+49-40-32027910, F. +49-40-320279114
office@hillermann-consulting.de

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Emitter:	ERWE Immobilien AG Herriotstraße 1 60528 Frankfurt Germany
Contact Person:	Christian Hillermann
Phone:	+49 40 320 279-10
E-Mail:	office@Hillermann-Consulting.de
Website:	www.erwe-ag.com
ISIN(s):	DE000A1X3WX6 (Share)
Stock Exchange(s):	Regulated Market in Frankfurt; Free Market in Berlin, Dusseldorf, Stuttgart