annual report 2009 - bei der Hamborner REIT AG

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to our sHareHolders management report Financial statements supplementary inFormation Chimes for the first stock market price as a REIT on 22 February 2010 12 hans richard schmitz managing board of hamborner reit ag Hamborner reit ag | annual report 2009 dr. rüdiger mrotzek managing board of hamborner reit ag
Letter to shareholders to our sHareHolders management report Financial statements supplementary inFormation Even the first glance at the annual report shows: HAMBORNER has succeeded as planned! Since February 18, 2010 our company has officially achieved REIT status, which applies retroactively as of January 1, 2010. We are pleased, therefore, to be able to introduce you today to the "new but old" HAMBORNER in the form of a restyled annual report as well. What has changed? The more modern corporate identity with a changed colour scheme and new logo is outwardly conspicuous first of all. However, the most significant content-related change, which the REIT brings with it, is the tax exemption that we have enjoyed at company level since the beginning of the year due to the conversion. Nevertheless, we are still the "old" HAMBORNER with our long-standing experience in the commercial property sector. Our business model has remained, together with the growth strategy that we have adopted over the past few years, as well as the high quality of our services, the close contact with our tenants and the endeavour to generate a high degree of added value through strong management at all levels, which should ensure stable dividends that increase as much as possible The year 2009 was characterised by the preparations for the conversion. We have done our homework. Amongst other things, through the merger of our Hambornberg subsidiary as well as the sale of our non-REIT-compliant investments. And not least due to your support and the resolution of the general shareholders' meeting passed with an overwhelming majority for the amendment to the Articles of Association, we were able to lay the final foundations for the transformation into a REIT. Economically too, 2009 was a satisfactory year for us. In spite of the effects noticeable right at the beginning of the year of the deepest recession for decades in Germany, HAMBORNER managed to expand its business activity and achieve a good result. Loan agreements concluded for the long term, a high equity ratio and the very comfortable liquidity structure of the company ensured a stable basis even in times of world economic crisis. Not least, the balanced composition of our asset portfolio and the good tenant structure ensure sustainable cash flows. In the reporting year we have achieved an operating result amounting to €10.4 million and a profit for the financial year in accordance with IFRS of €5.1 million. This results in earnings per share amounting to €0.22. The FFO (funds from operations) as a decisive key figure of our control system and measure of the liquid funds generated from the ongoing operating activity amount to €0.42 per share, a plus of 12.7% year-on-year. Against the background of the positive business development, we propose a dividend amounting to €0.37 per share for the financial year 2009 to the general shareholders' meeting. This corresponds to an increase of 5.7 %. An attractive dividend yield of 4.5% arises in relation to the year-end share price of €8.14. We are in an optimistic mood in view of a positive operational business trend in 2010, – even if the sustainability of the economic easing is currently still extremely uncertain. Even in the last few months, increased activity was again seen on the property transactions market and the offers were more interesting. Our financial strength and the attractive interest rate level at present are opening up opportunities for HAMBORNER REIT AG, which we will rigorously exploit. We thank all shareholders and business partners for the confidence shown in the company. We will be delighted if you support the "new but old" HAMBORNER in its further development in the future as well because – THE FUTURE NEEDS A SOLID FOUNDATION. Kind regards Dr. Rüdiger Mrotzek Hans Richard Schmitz annual report 2009 | Hamborner reit ag 13
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Quality is our tradition HAMBORNER
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Financial Calendar 2010/2011 25 Mar
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annual report 2009 - bei der Hamborner REIT AG

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