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Godewind Immobilien AG publishes first interim statement
 

– Capital increase for the IPO generates gross proceeds of EUR 375 million

– Medium-term objective is to build a EUR 3 billion portfolio of commercial properties

– Initial acquisitions planned for the months ahead

Frankfurt am Main, May 15, 2018 – Godewind Immobilien AG (ISIN: DE000A2G8XX3, ticker symbol: GWD, Godewind), a real estate company specialising in German commercial properties, laid the foundations for a successful year 2018 in the first quarter, with a capital increase and a stock market listing. In the months ahead the company plans to make its first acquisitions.

The cash capital increase significantly strengthened the balance sheet. The company received gross proceeds of EUR 375 million. As of 31 March 2018 the amount of cash and cash equivalents rose significantly to EUR 393.9 million. Equity went up correspondingly steeply, amounting to EUR 382.9 million as of the reporting date. The equity ratio was around 97 per cent.

The earnings situation for the first three months of the financial year 2018 is defined mainly by staff costs and other operating expenses. Other operating expenses mainly consist of legal and advisory costs, as well as audit costs, in connection with the Company’s operational launch and IPO. As of 31 March 2018 the result for the period was EUR -0.6 million, as expected. No revenue from the holding and management of properties has been generated to date.

Initial public offering of Godewind Immobilien AG
The capital increase was entered in the commercial register on 28 March 2018. The Company’s share capital was increased by EUR 93,750,000 to currently EUR 108,750,000. Godewind shares were admitted for trading on the regulated market at Frankfurt Stock Exchange (Prime Standard) on 3 April 2018. Its market capitalisation came to EUR 435 million, based on the offer price of EUR 4.00 per share and a total of 108,750,000 shares in circulation. The first day of trading was 5 April 2018.

Outlook: Initial acquisitions planned for the months ahead
Godewind will invest the net proceeds of the IPO in mixed property portfolios that are made up of at least 60% office space and approx. 20% commercial and logistics space. ‘Other commercial space’ may account for a further 20%.

Godewind will use active portfolio management to align the acquired portfolios with the office property segment. In the medium term a portfolio of commercial properties of around EUR 3 billion is planned to be built with the help of its wide-ranging network and by means of value-added acquisitions.

Since the IPO further acquisition opportunities have arisen for Godewind in the ‘office’ and commercial property segment. These opportunities result from the very positive response to the successful flotation. The first acquisitions are expected over the course of the coming months.

The Interim Statement of Godewind Immobilien AG is available from the Investor Relations section of the website www.godewind-ag.com.
 

About Godewind Immobilien AG
Godewind is a real estate company specialising in commercial properties in Germany. The Company focuses on building an attractive portfolio of commercial properties, with an emphasis on office buildings. As an active portfolio and asset manager, Godewind strives for sustainable increases in earnings and income, which are supplemented by the regular realisation of added value potential. In the medium term the aim is to build a commercial real estate portfolio of around EUR 3 billion with the help of its wide-ranging network and by means of value-added acquisitions.

Based on its internal portfolio and asset management, Godewind Immobilien AG will manage commercial properties cost-efficiently, enter into long-term tenancy agreements and so increase its enterprise value.

The company has tax loss carry-forwards for corporation and trade tax, as well as a tax-free capital reserve.

The shares in Godewind Immobilien AG are traded in the Prime Standard at Frankfurt Stock Exchange (FWB).

For more information, please visit https://www.godewind-ag.com
 

Contact Details
 

Investor Relations Contact
Gunnar Janssen
Godewind Immobilien AG
Phone +49 69 25 73 75 192
Email g.janssen@godewind-ag.com
 

Press Contact
Jan Hutterer
Kirchhoff Consult AG
Phone +49 40 60 91 86 65
Email godewind-ag@kirchhoff.de

Disclaimer:

These materials are for informational purposes only and are not intended to constitute, and should not be construed as, an offer to sell or subscribe for, or the announcement of a forthcoming offer to sell or subscribe for, or a solicitation of any offer to buy or subscribe for, or the announcement of a forthcoming solicitation of any offer to buy or subscribe for, ordinary shares in the share capital of Godewind Immobilien AG (the “Company“, and such shares, the “Shares“) in the United States or in any other jurisdiction.

The Shares have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act“) or with any securities regulatory authority of any state or other jurisdiction of the United States, and may not be offered or sold within the United States absent registration or an exemption from the registration requirements under the Securities Act and in accordance with any applicable securities laws of any state or other jurisdiction of the United States. The Company does not intend to register any portion of the offering in the United States or to conduct a public offering of Shares in the United States.

The Company has not authorized any offer to the public of Shares in any Member State of the European Economic Area, except in the Federal Republic of Germany and Luxembourg. With respect to any Member State of the European Economic Area which has implemented the Prospectus Directive other than Germany and Luxembourg (each a “Relevant Member State“), no action has been undertaken or will be undertaken to make an offer to the public of Shares requiring publication of a prospectus in any Relevant Member State. As a result, the Shares may only be offered in Relevant Member States:

(i) to any legal entity which is a “qualified investor” as defined in the Prospectus Directive; or

(ii) in any other circumstances falling within Article 3(2) of the Prospectus Directive.

For the purpose of this paragraph, the expression “offer of securities to the public” means the communication in any form and by any means of sufficient information on the terms of the offer and the Shares to be offered so as to enable the investor to decide to exercise, purchase or subscribe for the Shares, as the same may be varied in that Member State by any measure implementing the Prospectus Directive in that Member State and the expression “Prospectus Directive” means Directive 2003/71/EC (as amended, including by Directive 2010/73/EU), and includes any relevant implementing measure in the Relevant Member State.

Any such investor will also be deemed to have represented and agreed that any Shares acquired by it in the contemplated offering of Shares have not been acquired on behalf of persons other than such investor. This announcement is not an advertisement within the meaning of the Prospectus Directive and does not constitute a prospectus.

In the United Kingdom, this document and any other materials in relation to the Shares is only being distributed to, and is only directed at, and any investment or investment activity to which this document relates is available only to, and will be engaged in only with, “qualified investors” (as defined in section 86(7) of the Financial Services and Markets Act 2000) and who are (i) persons having professional experience in matters relating to investments who fall within the definition of “investment professionals” in Article 19(5) of the Financial Services and Markets Act 2000 (“Financial Promotion“) Order 2005 (the “Order“); or (ii) high net worth entities falling within Article 49(2)(a) to (d) of the Order (all such persons together being referred to as “relevant persons“). This communication is directed only at relevant persons. Persons who are not relevant persons should not take any action on the basis of this document and should not act or rely on it. Any investment activity to which this communication relates will only be available to and will only be engaged with, relevant persons. No action has been taken by the Company that would permit an offer of Shares or the possession or distribution of these materials or any other offering or publicity material relating to such Shares in any jurisdiction, except for Germany and Luxembourg, where action for that purpose is required.

This document may contain forward-looking statements. These statements are based on the current views, expectations and assumptions of the management of the Company and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. Actual results, performance or events may differ materially from those described in such statements due to, among other things, changes in the general economic and competitive environment, risks associated with capital markets, competition from other companies, changes in laws and regulations, in particular with respect to tax laws and regulations, affecting the Company and other factors. The Company does not assume any obligations to update any forward-looking statements.

Neither these materials nor any copy of it may be taken or transmitted, directly or indirectly, into the United States, Australia, Canada, Japan or the South Africa. These materials do not constitute or form part of any offer or invitation to sell, or any solicitation of any offer to purchase or subscribe nor shall it (or any part of it) or the fact of its distribution, form the basis of, or be relied on in connection with, any contract therefore. The offer and the distribution of these materials and other information in connection with the listing and offer in certain jurisdictions may be restricted by law.

This publication constitutes neither an offer to sell nor a solicitation to buy securities. The offered shares in the Company have already been sold.