Deutsche Annington Immobilien SE / Key word(s): Real Estate/AGM/EGM
2015-04-30 / 16:10
Annual General Meeting: Deutsche Annington Immobilien SE
pays 11.4 percent higher dividends and to have new name from autumn
- Dividend of EUR 0.78 per share approved
- Shareholders approve name change to "Vonovia"
- New capital measures authorised
- Combined forecast on June 1st for the first time
Düsseldorf, April 30, 2015 - The Management Board of Deutsche Annington Immobilien SE ("Deutsche Annington") has presented its results for the 2014 financial year to its shareholders at its ordinary Annual General Meeting and reiterated its positive outlook for the future performance of the company.
The shareholders approved the proposal of the Management Board and Supervisory Board to distribute a dividend of EUR 0.78 per share for the 2014 financial year. This represents an increase of 11.4 % on the previous year.
"In the second year after our IPO, we are already in an excellent position as an internationally sought-after company with a free float that now stands at 94 %. Having increased by more than 55 % in 2014, shares in Deutsche Annington offer both growth in value and a suitable dividend. We have also invested a record amount of EUR 346 million in our residential units. In terms of our portfolio's total living area, that corresponds to around EUR 29 per square metre, which is a leading figure in our industry. Our investment is split almost equally between maintaining and modernising our real estate portfolio." This was the synopsis that Rolf Buch, Chairman of the Management Board of Deutsche Annington, gave to some 200 shareholders and guests. "Our results in the 2014 financial year demonstrate that our strategy of focusing in equal measure on the needs of our shareholders and the satisfaction of our tenants is paying off. We will continue to pursue this approach, since it is in the interest of our shareholders and the capital market to ensure that our customers are satisfied".
Following the successful takeover bid made to GAGFAH, which around 94 % of shareholders approved, the merger of Deutsche Annington and GAGFAH has created Germany's leading real estate company with a European dimension, which will continue to be based in North Rhine-Westphalia. The new identity of this company will now also be reflected in a new name. Rolf Buch: "We have opted for a completely new name, since it was not possible to combine GAGFAH and Deutsche Annington. VONOVIA is a created name without any original meaning - neither in Germany nor in the many different countries where our tenants live." Shareholders today approved the name change to VONOVIA. The newly merged company will therefore officially operate as Vonovia SE during the year.
The Annual General Meeting also approved new authorised and conditional capital. "This will enable us to lay the foundations for further growth. We want to continue to play an active role in the consolidation of the German residential real estate market. Even as the clear number one in this market, our market share is only around 1.5 %," said Rolf Buch. "It goes without saying that we will continue to adhere to strict criteria in the future: We will only make a purchase if it will lead to a quantifiable increase in value and we will only acquire real estate that represents a good geographical fit for us and that we can manage properly by having the necessary proximity to the customer."
The Management Board reiterated its forecast for 2015. All of the figures for the outlook for this year take into account the acquisitions of DeWAG, Vitus and Franconia but not the merger with GAGFAH. When the figures for Q1 2015 are published on June 1, 2015, Deutsche Annington will present a forecast for the current financial year that pertains to the combined company for the first time.
Due to her new position at DEKA Bank, Manuela Better will step down from her appointment on the Supervisory Board of Deutsche Annington effective May 31, 2015 at the request of the European Central Bank.
The Annual General Meeting approved all of the resolutions presented by the Management Board and Supervisory Board by a large majority. Detailed voting results will be published at www.deutsche-annington.com.
About Deutsche Annington
Deutsche Annington is Germany's leading real estate company with a European dimension. As at December 31, 2014, Deutsche Annington owned some 203,000 residential units. Deutsche Annington can be found at 550 locations across Germany with 3,850 employees and offers customer-oriented services. Following the integration of GAGFAH, the company now owns around 350,000 residential units and provides one million people across Germany with a reliable and affordable home. Its portfolio is worth approximately EUR 21 billion. Deutsche Annington is listed on the MDAX of the German stock exchange.
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Common code 094567408
Registered office of Deutsche Annington: Münsterstrasse 248, 40470 Düsseldorf, Germany
Business address of Deutsche Annington: Philippstrasse 3, 44803 Bochum, Germany
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