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UBM Development AG: UBM Development pays record dividend for 2021
Wien (pta007/08.04.2022/06:55 UTC+2)
- €2.25 per share – no corona dent
- Second highest net profit in the company's history
- Increase of 52% in revenues, Total Output unchanged
- Crisis-proof balance sheet: half a billion of equity, over €400m in cash
- First-time, voluntary audit of ESG Report
Vienna, 08.04.2022 – Prospects at the beginning of the past financial year pointed to a delayed corona dent, but the first six months already showed that 2021 would be better than expected. Revenue rose by 51.8% to €278.3m while Total Output remained generally stable at €471.0m. Net profit reached the second highest level in UBM's nearly 150-year history at €43.7m, among others due to the profitable sale of projects before realisation. EBT amounted to €60.1m and was slightly higher than the expectations of capital market analysts, all of whom continue to issue a buy recommendation for the share.
Record dividend
The Management Board and Supervisory Board of UBM will therefore propose a record dividend of €2.25 per share (2020: € 2.20) to the Annual General Meeting. "UBM has been one of Vienna's top dividend payers for many years", emphasised Thomas G. Winkler, CEO of UBM Development AG. "We not only pay on time and reliably. Half of our net profit is directed to strengthening equity", added Winkler.
Crisis-proof balance sheet
The balance sheet fundamentals continued to improve in 2021. UBM had over half a billion euros of equity at year-end 2021. At €550.6m, equity was 14.0% higher than at the end of the 2020 financial year and higher than ever before. That represents an equity ratio of 36.8% based on total assets of €1,494.5bn. Net debt was reduced by a significant 20.5% to €381.0m (2020: €479.1m). Liquidity, meaning cash and cash equivalents, rose by an impressive 71.2% to €423.3m (2020: €247.2m). "These results not only give our investors security, but also allowed us to make a major acquisition at the Mainz Zollhafen in Germany during spring 2022", explained Patric Thate, CFO of UBM.
First-time, voluntary audit of ESG Report
Parallel with the publication of the annual report, UBM is now releasing its ESG report based on the GRI Standards 2021 (Global Reporting Initiative). UBM arranged for the voluntary, first-time audit of this report by a chartered accountant in preparation for the future requirements of the EU Taxonomy. The ESG report covers UBM's strategic focus on sustainability and also presents an extensive range of measures and a catalogue of goals.
Outlook
In addition to the COVID-19 pandemic, uncertainty has been increased since February 2022 by the war in Ukraine. UBM has no business commitments in the countries involved in the war, but its impact on Europe and the global economy will be serious and cannot be precisely estimated at present. UBM must therefore waive issuing a guidance for the time being and can only refer to its crisis-proof balance sheet position.
Key performance indicators 2021
| Key earnings figures (in €m) | 2021 | 2020 | Change 21/20 | 2019 |
| Total Output1 | 471.0 | 478.6 | -1.6% | 678.0 |
| Revenue | 278.3 | 183.3 | 51.8% | 242.0 |
| Earnings before taxes | 60.1 | 62.3 | -3.4% | 70.5 |
| Net profit | 43.7 | 40.8 | 7.3% | 50.1 |
| Key asset and financial figures (in €m) | 31.12.2021 | 31.12.2020 | Change 21/20 | 31.12.2019 |
| Total assets | 1,494.5 | 1,372.0 | 8.9% | 1,316.4 |
| Equity | 550.6 | 482.9 | 14.0% | 462.5 |
| Equity ratio | 36.8% | 35.2% | 1.65 PP | 35.1% |
| Net debt2 | 381.0 | 479.1 | -20.5% | 442.4 |
| Cash and cash equivalents | 423.3 | 247.2 | 71.2% | 212.4 |
| Key share data and staff | 31.12.2021 | 31.12.2020 | Change 21/20 | 31.12.2019 |
| Earnings per share (in €)3 | 4.50 | 4.39 | 2.6% | 6.16 |
| Earnings per share incl. hybrid capital interest4 | 5.65 | 5.33 | 6.0% | 7.10 |
| Share price (in €) | 43.30 | 35.80 | 20.9% | 47.20 |
| Market capitalisation (in €m) | 323.5 | 267.5 | 20.9% | 352.7 |
| Dividend per share (in €)5 | 2.25 | 2.20 | 2.3% | 2.20 |
| Payout ratio6 | 50.0% | 50.2% | -0.2 PP | 35.7% |
| Staff | 355 | 339 | 4.7% | 389 |
1Total Output corresponds to the revenue generated by fully consolidated companies and companies consolidated at equity as well as the sale proceeds from share deals, each in proportion to the stake held by UBM.
2 Net debt equals current and non-current bonds and financial liabilities, excluding leasing liabilities, minus cash and cash equivalents.
3 Earnings per share after the deduction of hybrid capital interest (change in calculation beginning in 2020, comparative data adjusted accordingly).
4 Earnings per share before the deduction of hybrid capital interest.
5 The dividend is paid in the respective financial year but is based on the previous year's net profit. The dividend proposal for 2020 is subject to the approval of the Annual General Meeting.
6 Dividend in relation to earnings per share after deduction of hybrid capital interest
UBM Development develops real estate for Europe's metropolitan areas. The strategic focus is on green building and smart office in major cities such as Vienna, Munich, Frankfurt and Prague. The gold rating from EcoVadis and the prime status from ISS ESG confirm the consistent focus on sustainability. With almost 150 years of experience, UBM offers all development services from a single source, from planning to marketing. The shares are listed in the Prime Market of the Vienna Stock Exchange, the segment with the highest transparency requirements.
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| Emitter: |
UBM Development AG Laaer-Berg-Straße 43 1100 Wien Austria |
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|---|---|---|
| Contact Person: | Christoph Rainer | |
| Phone: | +43 664 80 1873 200 | |
| E-Mail: | investor.relations@ubm-development.com | |
| Website: | www.ubm-development.com | |
| ISIN(s): | AT0000815402 (Share) AT0000A1XBU6 (Bond) AT0000A23ST9 (Bond) AT0000A2AX04 (Bond) AT0000A2QS11 (Bond) XS1785474294 (Bond) XS2355161956 (Bond) | |
| Stock Exchange(s): | Vienna Stock Exchange (Official Trade); Free Market in Frankfurt (Scale) |