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Last $14.55 USD
Change Today 0.00 / 0.00%
Volume 0.0
As of 8:10 PM 06/29/15 All times are local (Market data is delayed by at least 15 minutes).

gagfah sa (GGFHF) Key Developments

GAGFAH S.A., Annual General Meeting, Apr 17, 2015

GAGFAH S.A., Annual General Meeting, Apr 17, 2015., at 14:00 Central European Standard Time. Location: Luxembourg Chambre de Commerce. Agenda: To consider distribution of dividends to the shareholders of GAGFAH S.A. for the fiscal year which ended on 31 December 2014; to consider presentation of the statutory management report and the consolidated management report for the financial year ended december 31, 2014; presentation of the reports by the auditors in respect of the statutory financial statements of the company and in respect of the consolidated financial statements of the company and its group, for the financial year ended December 31, 2014; to approve statutory financial statements for the financial year ended December 31, 2014; to approve consolidated financial statements of the company and its group for the financial year ended December 31, 2014; to consider Discharge (quitus) to all the Directors of the company who were in office during the financial year ended December 31, 2014; to consider election of directors; and to consider Compensation of Directors.

GAGFAH S.A. Announces Executive Changes

The change of control announced by Deutsche Annington Immobilien SE in connection with the voluntary public takeover offer to the shareholders of GAGFAH S.A. leads to the following changes in the composition of the Board of Directors of GAGFAH S.A., as expected: Gerhard Zeiler (chairman), Hendrik Jellema, and Daniel Just resigned from their offices as members of the Board of Directors of GAGFAH S.A. As had already been indicated in the Offer Document published by Deutsche Annington Immobilien SE in connection with the voluntary public takeover offer to the shareholders of GAGFAH S.A., it is intended to propose Mr. Zeiler, Mr. Jellema, and Mr. Just as new members to the Supervisory Board of Deutsche Annington Immobilien SE. A resolution to that effect is expected to be proposed to the annual general shareholders' meeting of Deutsche Annington Immobilien SE, which is scheduled to take place on April 30, 2015. Furthermore, the Board of Directors of GAGFAH S.A. has resolved to co-opt Rolf Buch as representative of the majority shareholder and Pierre Berna as independent board member to the Board of Directors. The two new directors shall be proposed for election to the next annual general shareholders' meeting of GAGFAH S.A. In addition, the Board of Directors appointed Dieter H. Ristau, independent board member, as its new chairman.

GAGFAH S.A. Announces Earnings Results for the Year 2014

GAGFAH S.A. announced earnings results for the year 2014. For the year, the company closed the sale of 766 condo units and 4,168 non-core units for a total of EUR 222.0 million and signed sales agreements for an additional 165 condo units plus 1,543 non-core units. The net operating income (NOI) in 2014 was EUR 390.7 million, which represents an NOI margin of 69.5% and an NOI yield of 5.1%. The adjusted EBITDA was EUR 349.7 million, and reflects a margin of 4.5% on the average property value in the course of 2014. Supported by higher rental income, broadly stable property and overhead expenses and substantially lower interest expenses, the Recurring FFO was EUR 189.9 million or EUR 0.88 per share. The EPRA NAV as of Dec. 31, 2014 was EUR 14.39 per share.

GAGFAH S.A. Proposes Dividend for 2014

The Board of Directors of GAGFAH S.A. has decided to propose a cash dividend of EUR 0.35 per share for 2014 to the next Annual General Meeting of Shareholders.

GAGFAH S.A.(DB:GFJ1) dropped from Germany MDAX Index (Performance)

GAGFAH S.A. will be removed from Germany MDAX Index.

 

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GGFHF Competitors

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Company Last Change
Conwert Immobilien Invest SE €11.20 EUR -0.205
Deutsche Wohnen AG €20.76 EUR -0.34
GSW Immobilien AG €51.18 EUR +0.17
LEG Immobilien AG €61.64 EUR -1.30
TAG Immobilien AG €10.49 EUR -0.105
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Valuation GGFHF Industry Range
Price/Earnings NM Not Meaningful
Price/Sales 2.7x
Price/Book 1.2x
Price/Cash Flow NM Not Meaningful
TEV/Sales NM Not Meaningful
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