DGAP-News: Godewind Immobilien AG / Key word(s): Half Year Results/Real Estate
14.08.2018 / 07:45
Godewind Immobilien AG publishes first half-year report
Frankfurt am Main, 14 August 2018 – Godewind Immobilien AG (ISIN: DE000A2G8XX3, ticker symbol: GWD, Godewind), a real estate company specialised in commercial properties in Germany, has laid the groundwork for a successful first financial year with a capital increase and exchange listing in the first half-year 2018.
Platform for the construction of a profitable and sustainable commercial portfolio
Earnings for the first six months of the 2018 financial year were mainly defined by tax expenses of EUR 3.2 million in deferred tax, as well as staff costs and other operating expenses. Other operating expenses mainly consist of legal and advisory costs, as well as audit costs in connection with the launch of operations and the flotation. As expected, the result for the period ending 30 June 2018 was EUR -5.5 million. No revenue from the ownership and management of properties has been recognised to date, but will be generated from the planned transactions and acquisitions.
Godewind achieves first successful “cash-box IPO” in Germany in first half-year
Godewind shares were admitted for trading on the regulated market of Frankfurt Stock Exchange (Prime Standard) on 03 April 2018. Its market capitalisation, on the basis of the offer price of EUR 4.00 per share and a total number of 108,750,000 issued shares, was EUR 435 million. The capital increase and initial public offering were entered in the commercial register on 28 March 2018. The company’s share capital increased by EUR 93.8 million and currently amounts to EUR 108.8 million. This gives Godewind a strong basis for the planned construction of its commercial property portfolio.
Outlook: first acquisition planned in the months ahead
The half-year financial report for Godewind Immobilien AG is available from the Investor Relations section of the website: https://www.covivio-office-ag.com/en/financial-reports/
About Godewind Immobilien AG
Based on its internal portfolio and asset management, Godewind Immobilien AG will manage commercial properties cost-effectively, enter into long-term tenancy agreements and so increase its enterprise value. The company has tax loss carry-forwards for corporation and trade tax, as well as a tax-free capital reserve. The shares in Godewind Immobilien AG are traded in the Prime Standard at Frankfurt Stock Exchange (FWB).
For more information, please visit https://www.covivio-office-ag.com
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|Company:||Godewind Immobilien AG|
|60313 Frankfurt am Main|
|Phone:||+49 (0) 69 257375 192|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange|
|End of News||DGAP News Service|