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DGAP - News : HAMBORNER REIT AG / Key word ( s ) : Preliminary Results 04.02.2021 / 07:00 The issuer is solely responsible for the content of this announcement . PRESS RELEASE HAMBORNER REIT AG completes 2020 financial year with further growth in revenue and earnings - Preliminary figures underline profitability and portfolio stability - Income from rents and leases rises by 3.6 % to € 88.2 million - FFO up 2.4 % year - on - year at € 55.6 million - Vacancy rate with 1.8 % still at extremely low level - Successful progress in portfolio optimisation - NAV per share : € 11.05 - Dividend proposal likely in line with previous year SUCCESSFUL 2020 FINANCIAL YEAR Duisburg , 4 February 2021 - HAMBORNER REIT AG enjoyed another successful financial year according to the preliminary and unaudited figures published today - in spite of the coronavirus pandemic . Income from rents and leases amounted to € 88.2 million in the past year , up by € 3.0 million or 3.6 % as against 2019. Funds from operations ( FFO ) , the key operating earnings indicator , rose by 2.4 % in the past year to € 55.6 million ( previous year : € 54.3 million ) . FFO per share increased accordingly to € 0.69 , thus bettering the previous year's record figure by another cent . The targets for revenue and income for the 2020 financial year announced in July 2020 were therefore fully met or even outperformed . The vacancy rate remained at an extremely low level of 1.8 % in 2020. The company's financial situation is likewise comfortable . The loan- to - value ( LTV ) ratio was 44.5 % as at 31 December 2020 ( previous year : 42.4 % ) . The REIT equity ratio of 54.5 % ( previous year : 57.3 % ) was still well in excess of the 45 % required under the German REIT Act . The company added three high - quality , newly built office properties and a retail centre in an excellent location to its portfolio in 2020. The total investment volume was € 101.4 million . The properties have already been transferred to the HAMBORNER portfolio and will contribute around € 5.0 million to income from rents and leases in future . Over the course of the second half of 2020 , the company had its first successes in conjunction with its ongoing portfolio optimisation by successively selling off high street retail assets . As a result , contracts were signed to sell a total of eleven mostly smaller properties that are no longer consistent with strategy . The cumulative sale prices amounted to around € 59.1 million in total and are therefore approximately 2 % higher than the fair value of the eleven properties as at 30 June 2020. The annualised total rent of the properties last amounted to around € 3.9 million . The earnings contribution from their sale amounted to around € 23.8 million . Ownership of three of the properties was already transferred in the fourth quarter of 2020. The other properties are expected to be transferred to their buyers in the first quarter of 2021 . As usual , the company commissioned a third - party expert to reappraise its property portfolio as at the end of 2020. The revaluation resulted in the fair value of the properties already in the portfolio as at 31 December 2019 being reduced by 3.5 % . The reduction essentially related to retail properties in city centre locations that were hit particularly hard by the coronavirus pandemic . Taking into account the revaluation and the property additions and disposals over 2020 , the fair value of the portfolio as a whole was € 1.625 billion as at 31 December 2020. Net asset value ( NAV ) per share declined by 4.7 % as against the end of 2019 to € 11.05 ( 31 December 2019 : € 11.59 ) . The company will release its final figures for 2020 when it publishes its annual report on 22 March 2021 . DIVIDEND In line with the positive business performance in 2020 , the Management Board and the Supervisory Board intend to propose the payment of a dividend to this year's Annual General Meeting , which is expected to be at the level of the dividend distributed last year . CURRENT BUSINESS PERFORMANCE