DGAP-News: YOUNIQ AG publishes preliminary consolidated net

New Post Public Reply Private Reply Replies (0) Message Board

News Desk 2018

Mar 10, 2014 at 4:00 AM

DGAP-News: YOUNIQ AG publishes preliminary consolidated net result for financial year 2013

DGAP-News: YOUNIQ AG / Key word(s): Preliminary Results/Miscellaneous YOUNIQ AG publishes preliminary consolidated net result for financial year 2013 10.03.2014 / 08:55 --------------------------------------------------------------------- - Consolidated net loss of EUR -54.1 million (2012: EUR -7.1 million) - Properties from "Renting and Trading Real Estate" segment largely sold, carrying amount of around EUR 6.9 million as of December 31, 2013 - All current projects in "YOUNIQ - Student Housing" almost fully completed and transferred to rental - Operating overhead costs cut by more than EUR 2.0 million p.a. to date Frankfurt/Main, March 10, 2014 - YOUNIQ AG, a real estate company specialising in Student Housing, reports a EUR 23.0 million consolidated net loss (IFRS) in the fourth quarter of 2013 on the basis of preliminary and unaudited results. In particular, a reappraisal of tax loss carryforwards and a resultant write-down of deferred tax assets contributed to this loss. In a 2013 financial year characterised by operating challenges, the full-year net loss (IFRS) amounted to EUR -54.1 million on the basis of preliminary and unaudited figures (2012: EUR -7.1 million). The losses - in addition to the mentioned write-down - were incurred in both the "YOUNIQ - Student Housing" segment and the segments that are to be discontinued. In the continuing operations, retroactive construction cost adjustments placed a particular burden on the result. In the operations to be discontinued, especially expenses and charges as part of the disposal of portfolio properties, and provisions for warranties, contributed negatively to the result. The company succeeded in realising a considerable reduction in the real estate portfolio in its "Renting and Trading Real Estate" segment in 2013. The carrying amount of the remaining properties amounted to around EUR 6.9 million as of December 31, 2013 (December 31, 2012: EUR 33.3 million). Of these properties, real estate disposals with a carrying amount of around EUR 3.5 million have already been officially recorded by notaries. The related transfer of benefits and encumbrances will occur prospectively during the first and second quarters of the 2014 financial year. The carrying amount of the properties that are still to be sold currently stands at around EUR 3.4 million as a consequence. In addition, all properties in the construction stage in the "YOUNIQ - Student Housing" segment are almost fully completed by the start of 2014, have transferred to the rental stage, and some have been sold. The Management Board has also reduced future operating overhead costs by more than EUR 2.0 million per year through savings in various business areas, although these will not impact results until during the course of the current 2014 financial year, and have also burdened the 2013 consolidated net result through one-off expenses. All figures quoted for the 2013 financial year are preliminary. The final and audited results for the 2013 financial year will be published with the annual report on March 28, 2014. Company profile YOUNIQ AG YOUNIQ AG has focused on student accommodation since 2009. The company covers a significant range of the value chain - ranging from the purchase of real estate and land, through project development including planning, planning permission procurement and construction, all the way through to commercial and technical management. YOUNIQ has developed into a leading provider for this segment with 2,816 high-quality apartments. These properties are located at ten sites in Germany, including Munich, Erlangen, Karlsruhe, Frankfurt/Main, Mainz, Potsdam, Leipzig and Bayreuth. YOUNIQ bundles its many years of experience in project development and portfolio management for largely residential properties. YOUNIQ AG (ISIN: DE000A0B7EZ7, German Securities Identification Code/WKN: A0B7EZ) is listed on the Frankfurt Stock Exchange (Prime Standard). Further information is available from: www.youniq-group.de Contact: Investor Relations cometis AG Dirk Ulmer Phone: +49 (0)611 - 205855-24 Fax: +49 (0)611 - 205855-66 Email: ulmer@cometis.de End of Corporate News --------------------------------------------------------------------- 10.03.2014 Dissemination of a Corporate News, transmitted by DGAP - a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- Language: English Company: YOUNIQ AG Eschersheimer LandstraÃ?e 6 60322 Frankfurt am Main Germany Phone: +49 (0)69-2474720 Fax: +49 (0)69-247472100 E-mail: info@youniq.de Internet: www.youniq-group.de ISIN: DE000A0B7EZ7 WKN: A0B7EZ Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, DÃ¼sseldorf, Stuttgart End of News DGAP News-Service --------------------------------------------------------------------- 256488 10.03.2014

Newer

Older

Scroll down for more posts ▼

Top 10 Most Recent News Articles

Ericsson's Drone Tech and Share Buybacks: Impact & Insight

Ericsson's Latest Move into Drone Detection Brace yourself, folks! Ericsson is taking things to a whole new altitude, literally. They're bringing drone detection capabilities right to our mobile networks. It's like they're transforming our standard network towers into stealthy drone spotters. Think about a mobile network that not only keeps your calls from dropping but...

Thunes, UnionPay Revamp China Payments with $10K Daily

Unveiling a New Era for Cross-Border Payments Thunes is shaking things up, unleashing a fresh wave of possibilities for moving money into China's mainland. In a strategic twist, Thunes has teamed up with UnionPay International, aiming to transform the cross-border payment experience. With a potent combo of bank-grade security and hefty daily transaction limits, this...

ElektraFi Challenges Starlink: Fixed Wireless Gains Edge

Revolution or Just Better Options? In the wild west of internet connectivity, where every home is a frontier, ElektraFi is throwing down the gauntlet at the feet of behemoths like Starlink. They're talking big about their fixed wireless network, and in places stretching from Colorado's ski slopes to the dustier reaches of Texas, that talk might just hold some weight. Why...

NPK International Faces Shareholder Probe After Earnings Slide

Guidance Games: From Boom to Bust in Three Months Ah, the fickle world of guidance and investor expectations. One minute, NPK International (NYSE:NPKI) was riding high on strong Q2 results, promising an optimistic Adjusted EBITDA of up to $103 million for 2026. Fast forward a few months, and we're looking at a sobering reality—a cutdown to $90 million to $93 million....

Tactical Comm Market: $19.39B by 2031 Amid 8.1% CAGR

Riding the Tactical Communication Wave Alright, here’s something to chew on over your morning coffee. The tactical communication market is projected to balloon from USD 13.14 billion in 2026 to a whopping USD 19.39 billion by 2031. That’s an 8.1% CAGR if you’re keeping track—no small peanuts. So what's driving this surge? It’s all about security, modernization,...

Julie Boland's Strategic Move to Deere's Board

Deere & Company Expands Leadership with Boland Out of the blue, Deer & Company (NYSE: DE) decided to shake things up by adding Julie Boland, the former U.S. honcho at Ernst & Young LLP, to their board. Now, when Deere gets a leader with her pedigree, there’s more than a whiff of strategy at play. Let’s unpack why Deere's pulling the trigger on this boardroom shift....

NuvoAutoLinQ Transforms Device Connectivity Management

Leapfrogging the Connectivity Conundrum Picture this: you're staring at a payment terminal that's just as lifeless as your teenager's enthusiasm on a Monday morning. The signal's full bars, yet the device's not connecting. Classic story in the world of connected devices, right? Actually, no more. Enter NuvoLinQ with its snazzy new showcase: NuvoAutoLinQ. This tech...

Silicone Fluids Market Forecast Hits $10.15B by 2031

Unpacking the Prevailing Expansion The global silicone fluids market is marching on a path to significant growth, projected to hit a hefty $10.15 billion by 2031. Now, if you think that's just another number, let's break down why this matters and how the market is changing its stripes. The Rising Tide of Silicone Applications Silicone fluids are not just sliding under the...

FFR Sets New Sales Record, Eyes Market Expansion

FFR Breaks New Ground With Record Sales Something big's brewing at FF EAI Robotics Ecosystem Inc. (NASDAQ: FFR), and it's causing quite the ripple. Picture this: 351 devices shipped in October alone. That's a hill-climbing record for this newbie on the U.S. stock scene. February was their starting line, and they've zoomed past 1,000 units in cumulative sales, chalking up...

Grupo Bimbo Climbs Rankings as Top Global Employer

Grupo Bimbo’s Big Leap on the Global Stage Cranking out a solid rise in reputation, Grupo Bimbo has jumped up 107 positions to seize the 444th spot in the 2026 Forbes 'World's Best Employers' list. This isn't just a one-off headline-grabber; it's a testament to the serious work going on behind the scenes at this baking giant. Clawing its way higher from rank 551 in the...