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Last $14.55 USD
Change Today 0.00 / 0.00%
Volume 0.0
GGFHF On Other Exchanges
Symbol
Exchange
Xetra
OTC US
As of 4:30 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. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015

GAGFAH S.A. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company reported income from property management was EUR 206.2 million against EUR 202.6 million a year ago. Profit from sale of investment property and assets held for sale was EUR 7.0 million against EUR 7.5 million a year ago. Net results were EUR 178.4 million against EUR 0.1 million a year ago. EBT was EUR 251.0 million against EUR 22.4 million a year ago. Net results attributable to the shareholders of the company was EUR 175.9 million or EUR 0.71 per basic and diluted share against loss of EUR 1.4 million or EUR 0.01 per basic and dilute share a year ago. For the six months, the company reported income from property management was EUR 428.0 million against EUR 406.0 million a year ago. Profit from sale of investment property and assets held for sale was EUR 18.6 million against EUR 11.9 million a year ago. Net results were EUR 210.0 million against EUR 44.6 million a year ago. EBT was EUR 305.3 million against EUR 66.1 million a year ago. Net results attributable to the shareholders of the company was EUR 206.9 million or EUR 0.84 per basic and diluted share against EUR 42.1 million or EUR 0.17 per basic and dilute share a year ago. Cash flow from operating activities was EUR 82.9 million against EUR 85.8 million a year ago. Cash paid for investment property was EUR 104.6 million against EUR 16.2 million a year ago. Cash paid for investments in intangible assets, property, plant and equipment and financial assets was EUR 0.5 million against EUR 0.7 million a year ago. Adjusted EBITDA was EUR 186.1 million or EUR 0.77 per share against EUR 178.3 million or EUR 0.83 per share a year ago. Recurring FFO before sales was EUR 112.4 million or EUR 0.46 per share against EUR 93.2 million or EUR 0.43 per share a year ago. Adjusted FFO was EUR 100.4 million or EUR 0.41 per share against EUR 98.8 million or EUR 0.46 per share a year ago. EBITDA was EUR 397.0 million against EUR 190.7 million a year ago.

GAGFAH S.A.(SWX:GFJ) dropped from RX Real Estate Index (Performance)

GAGFAH S.A. will be removed from RX Real Estate Index (Performance).

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.

 

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GGFHF Competitors

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Conwert Immobilien Invest SE €11.58 EUR -0.21
Deutsche Wohnen AG €23.41 EUR -0.197
Grand City Properties SA €15.67 EUR -0.035
LEG Immobilien AG €64.89 EUR -1.62
TAG Immobilien AG €9.96 EUR -0.137
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Valuation GGFHF Industry Range
Price/Earnings 25.3x
Price/Sales 3.3x
Price/Book 1.3x
Price/Cash Flow 27.2x
TEV/Sales NM Not Meaningful
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