EQS-News: Branicks Group AG / Key word(s): Real Estate/Miscellaneous
Branicks Group AG: Further milestones for financial consolidation
08.08.2024 / 07:00 CET/CEST
The issuer is responsible for the content of this announcement.
Frankfurt am Main, 8. August 2024
Press release from Branicks Group AG
Branicks Group AG: Further milestones for financial consolidation
- Cash inflow of around EUR 94 million from share deals
- Strong operational development in recent months
- Fast pace in implementing the restructuring plan
Frankfurt am Main, 8. August 2024. Branicks Group AG (“Branicks”), ISIN: DE000A1X3XX4, one of Germany’s leading listed real estate companies, has sold a package of eight companies with nine properties from the commercial portfolio of Branicks AG to VIB Vermögen AG as part of a share deal. This results in a cash inflow for Branicks AG of around EUR 94 million. Together with high operational strength from the very successful leasing business of the past few months and the inflow of development fees from the completion of the Global Tower project in Frankfurt, the financial consolidation of Branicks AG is progressing very successfully. A further reduction in debt is planned for the coming weeks.
“In addition to an extremely successful rental business in recent months, we are also making excellent progress with our financial consolidation and the implementation of our restructuring plan and our transaction targets for 2024 and are very confident that we will meet our 2024 annual targets in all components,” said Sonja Wärntges, CEO of Branicks AG, commenting on the ongoing development.
The nine properties that have now been transferred to VIB are located in Baden-Württemberg, Hesse and Hamburg and have a total rental area of 81,113 sqm. They are predominantly multi-tenant office properties. They generate annualized rents of around 16 million euros per year. The transfer supports the strategic development of VIB, in which Branicks holds around 69%, into a diversified real estate company with the logistics and office classes and a major portfolio holder within the Branicks Group.
About Branicks Group AG
Branicks Group AG (formerly DIC Asset AG) is a leading German listed specialist for office and logistics properties as well as renewable assets with over 25 years of experience in the real estate market and access to a broad investor network. Our basis is the national and regional real estate platform with nine locations in all important German markets (including VIB Vermögen AG). As of March 31, 2024, we managed properties with a market value of EUR 13.1 billion in the Commercial Portfolio and Institutional Business segments.
The Commercial Portfolio segment includes properties in our own balance sheet portfolio. Here we generate continuous cash flows from long-term stable rental income, we also optimize the value of our portfolio properties through active management and realize profits through sales.
In the Institutional Business segment, we generate ongoing fees from the structuring and management of investment products with attractive distribution yields by offering our services to national and international institutional investors.
The shares of Branicks Group AG are listed in the Prime Standard of the German Stock Exchange (WKN: A1X3XX / ISIN: DE000A1X3XX4).
The company is fully committed to sustainability and holds top positions in ESG-relevant ratings such as Morningstar Sustainalytics, S&P Global CSA. The Branicks Group is also a signatory to the UN Global Compact and the UN PRI network. Properties in the Branicks portfolio have been awarded renowned sustainability certificates such as DGNB, LEED or BREEAM.
More information at www.branicks.com
PR contact Branicks Group AG:
Stephan Heimbach
New Mainzer Street 32-36
60311 Frankfurt am Main
Fon +49 69 9454858-1569
pr@branicks.com
IR contact Branicks Group AG:
Jasmin Dentz
New Mainzer Street 32-36
60311 Frankfurt am Main
Fon +49 69 9454858-1492
ir@branicks.com
08.08.2024 CET/CEST Publication of a corporate news/financial news item, transmitted by EQS News – a service of EQS Group AG.
The issuer is responsible for the content of this announcement.
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