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DGAP-News: YOUNIQ AG publishes Q1 2014 report

May 14, 2014

DGAP-News: YOUNIQ AG / Key word(s): Quarter Results/Miscellaneous YOUNIQ AG publishes Q1 2014 report 15.05.2014 / 07:55 --------------------------------------------------------------------- Frankfurt/Main, May 15, 2014 - YOUNIQ AG, a leading provider of student accommodation across Germany, has today published its results for the first three months of the 2014 financial year. During the first quarter 2014, the Group reported a loss before interest and tax (EBIT) of EUR -0.3 million, compared with EUR -1.1 million in the prior-year period. At Group level, it reported a consolidated net loss of EUR 1.9 million (Q1 2013: EUR 2.1 million). In its continuing operations, the consolidated net loss stood at EUR 1.2 million (Q1 2013: EUR 1.3 million), and in the discontinued operations at EUR 0.7 million (Q1 2013: EUR 0.9 million). The result achieved lay in the range of the forecast issued for the 2014 financial year. In particular, the cost-cutting measures that have been implemented fed through to a marked reduction in personnel and administrative expenses during the first quarter 2014. These were cut from EUR 1.6 million in the previous year to EUR 1.1 million in the first quarter of 2014. The fact that this positive effect is not reflected in the consolidated net result is attributable to the recognition of deferred taxes. These entailed a charge of EUR 0.3 million at Group level in the period under review, compared with a positive tax contribution of EUR 0.8 million in the prior-year period. Total assets fell by 8.8% to EUR 114.4 million as of the March 31, 2014 balance sheet date (December 31, 2013: EUR 125.5 million). This is primarily attributable to further sales of properties in the "Renting and Trading Real Estate" area in an amount of EUR 1.56 million, and the sale of a residential property in Berlin (YOUNIQ - Student Housing) in an amount of EUR 8.6 million. Financial liabilities fell by 5.2% to EUR 78.3 million (December 31, 2013: EUR 82.6 million). Equity stood at EUR 25.4 million as of March 31, 2014 (December 31, 2013: EUR 27.2 million), equivalent to a 22.2% equity ratio (December 31, 2013: 21.7%). The quarterly financial report as of March 31, 2014 will be available for downloading during the course of the day on the company's website at www.youniq-group.de within the Investor Relations area. End of Corporate News --------------------------------------------------------------------- 15.05.2014 Dissemination of a Corporate News, transmitted by DGAP - a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- Language: English Company: YOUNIQ AG Eschersheimer Landstraße 6 60322 Frankfurt am Main Germany Phone: +49 (0)69-2474720 Fax: +49 (0)69-247472100 E-mail: info@youniq.de Internet: www.youniq-group.de ISIN: DE000A0B7EZ7 WKN: A0B7EZ Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, DÜsseldorf, Stuttgart End of News DGAP News-Service --------------------------------------------------------------------- 268475 15.05.2014


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Source: DGAP Corporate News


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