DGAP-Adhoc: WESTGRUND AG increases its consolidated earnings in 2012 by approx. 400%

WESTGRUND Aktiengesellschaft / Key word(s): Preliminary Results

29.04.2013 10:02

Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.

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- WESTGRUND AG presents its provisional figures for 2012
- Residential real estate portfolio in 2012 more than doubled

Berlin - 29 April 2013 - WESTGRUND AG, holder of a portfolio of German
residential real estate with a long-term focus concentrated on Berlin,
experienced renewed growth in 2012 in sales and earnings.

The sales generated in the 2012 financial year improved to around EUR 10.8
million (previous year: EUR 9.7 million), thus growing for a further year.
The residential portfolio newly acquired primarily with effect of the end
of the year will not impact fully on sales until 2013.

Rental income nevertheless rose significantly during the course of 2012,
improving by 13 % to EUR 10.5 million (previous year: EUR 9.3 million) and
thus reaching a record annual level.

Consolidated earnings are characterised by a significant improvement in
gross margins from rental transactions by EUR 1.3 million from EUR 4.0
million in the previous year to EUR 5.3 million in 2012 as well as by an
increase in the value of the existing portfolio amounting to around EUR
5.9. Earnings per share amounted to EUR 0.28, as compared with EUR 0.08 in
the previous year.

Currently WESTGRUND's own portfolio comprises some 5,000 residential
properties. With effect of 31 December 2012 the portfolio consisted of some
2,947 units, which was already double the amount of the previous year.

The management board is assuming that the provisional figures presented
here will not undergo any significant change.

For the 2013 financial year WESTGRUND AG's management board is expecting
the profitable growth to continue. Including the transactions certified in
2013 but not finally concluded, the residential real estate portfolio
meanwhile comprises a total of approx. 5,000 residential units and is
anticipated to increase significantly to approx. 10,000 units in the course
of the financial year.

About WESTGRUND:

WESTGRUND AG is a dynamic, opportunity-seeking real estate company based in
Berlin. With a clear focus on residential real estate, it buys, manages and
develops residential portfolios with value enhancement potential in various
German regions in promising yet solid micro-locations. Via its own asset
management activities, value are improved sustainably. Its activities focus
primarily on Berlin and surrounding areas, North-Rhine Westphalia, Lower
Saxony and the Rhine-Main region.
The company is planning in the medium term to extend its residential
portfolio to 20,000 units.
WESTGRUND AG's shares (WKN: A0HN4T, ISIN: DE000A0HN4T3) are eligible for
the regulated Düsseldorf stock exchange market and are quoted and traded
there as well as among others via the Xetra market of the Frankfurt/Main
stock exchange.
Contact:
WESTGRUND AG
Investor Relations: Lars Schriewer
E-mail: schriewer@westgrund.de
WESTGRUND AG
Joachimstaler Strasse 34
D-10719 Berlin
Germany
Mobile: +49 172 2323312
Tel.:+49 30 6396192 0
Fax: +49 30 6396192 28

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Language: English
Company: WESTGRUND Aktiengesellschaft
Joachimstalerstrasse 34
10719 Berlin
Germany
Phone: +49 30 639 619 20
Fax: +49 30 639 619 228
E-mail: krienen@westgrund.de
Internet: www.westgrund.de
ISIN: DE000A0HN4T3
WKN: A0HN4T
Listed: Regulierter Markt in Düsseldorf; Freiverkehr in Berlin,
Hamburg, Stuttgart; Frankfurt in Open Market

End of Announcement DGAP News-Service

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