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DI Martin Löcker, Heribert Smolé, Mag

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DI Martin Löcker, Heribert Smolé, Mag Building Future. Since 1873. If you would like to shape the future, you need a vision to strive towards, passionately and energetically. And hands for getting to grips with things. Hands in which all the threads come together. Hands that you control with your heart and mind. UBM has been building on this philosophy for 140 years. Successfully. - RES KEY KEY FIGU Key profit and loss figures in € Million 2013 Change in % 2012 restated 2011 Total annual output 286.7 +11.0 258.3 281.9 of which: international in % 88.0 +10.0 PP 78.0 91.0 Operating profit 29.4 +432.4 6.8 23.1 Earnings before taxes (EBT) 17.8 +38.0 12.9 14.6 Profit after tax 13.5 –1.5 13.7 8.9 Retained profit 3.8 +15.2 3.3 3.3 Return on capital employed in % 5.6 +1.4 PP 4.2 4.0 Return on equity in % 10.9 2.5 PP 8.4 6.3 Balance sheet figures in € MILLION 2013 Change in % 2012 restated 2011 Total assets 630.8 –0.4 633.0 592.6 Equity ratio as % of total assets as at 31 Dec 26.0 +1.8 PP 24.2 24.4 Investments 26.3 – 47.4 50.0 78.7 Amortisation and depreciation 2.4 – 2.4 1.7 STOCK MARKET FIGURES* 2013 Change in % 2012 restated 2011 Earnings per share in € 2.14 – 0.5 2.15 1.65 Dividend per share in EUR 1) 0.62 +12.7 0.55 0.55 Pay-out-ratio in % 29.0 +7.4 27.0 33.3 * the 2012 share split is taken into account in the 2011 figures 1) Proposal to general meeting of shareholders - In the early 1990s, UBM AG was a rather small but stable player on the market. Until this point, UBM was "only" engaged in equipment rental and the real estate business. Towards the end of the century there was a veritable real estate boom in Austria, which was also reflected in the steady growth in UBM revenue. In the mid-1990s UBM expanded its business activities to Central and Eastern Europe, which had a sustained impact on the total annual output of the UBM Group. To diversify, business activities were expanded to Western Europe as well from 2000, and projects were initially carried out in Germany, France and Switzerland. Since 2010, UBM AG has also enjoyed success in the Netherlands. RES KEY KEY Total annual output FIGU 1991 – 2013 in € million 1991 5.0 1992 7.6 1993 18.4 1994 55.8 1995 25.5 1996 31.0 1997 29.7 1998 50.7 1999 40.3 2000 52.4 2001 88.5 2002 120.7 2003 118.7 2004 135.9 2005 109.0 2006 185.7 2007 263.0 2008 307.3 2009 275.4 2010 217.0 2011 281.9 2012 258.3 2013 286.7 50 100 150 200 250 300 350 Building Content. Table of Contents 01 Our company Foreword from the Managing Board 04 Statutory bodies of the company 06 Success factors 07 Our lines of business 08 UBM shares 10 Corporate calendar 12 Growth markets 13 Corporate Governance Report 14 02 Management Report Business developments, results 20 and position of company Planned development 30 and risks of the company 03 Annual financial statements of UBM AG Balance sheet 40 Income statement 42 Non-current assets 44 Notes 46 Building Content. Responsibility statement 56 04 Consolidated financial statements Consolidated income statement 59 Group statement of comprehensive income 59 Consolidated balance sheet 60 Consolidated cash flow statement 61 Reconciliation of equity 62 Notes to consolidated financial statements 64 Segment breakdown 96 Equity investments 105 Report of the Supervisory Board 110 Appropriation of profits 111 Responsibility statement 111 Foreword from the Managing Board In 2013 the UBM Group achieved a total output of € 286.7 million. This is up by € 28.4 mil- lion compared to the previous year. The increase is attributable to the sale of the angelo Westpark hotel in Munich as well as to residential sales in Berlin, Frankfurt and Munich. EBT in 2013 amounted to € 17.8 million (2012: € 12.9 million). The 2013 financial year was marked by sales of real estate and apartments in Germany, while the results in our other home markets of Poland and the Czech Republic were rather “BUILDING subdued. FUTURE: If you think Assuming that the overall economic conditions do not deviate significantly from the current big, you become big. forecasts of economic analysts, we are targeting revenues and profits in 2014 that are com- UBM was founded, is mensurate with recent years. managed and is suppor- ted by individuals with The focal point of activities in Austria lies in Salzburg, where we will complete the Stern- ” brauerei Riedenburg project by handing over 70 apartments. In Graz we are planning to great expectations. start two residential projects. In Western Europe we are concentrating on our home market of Germany, where we are particularly busy in the residential markets of Munich, Frankfurt and Berlin. In terms of commercial real estate we are building a hotel in Frankfurt and also have an office building in the pipeline in Munich. In our new Western European markets (the 4 Netherlands and France) we are planning several hotel projects. Poland will remain the focus of our activities in Central and Eastern Europe in 2014. We are still working on the Polecz- Foreword ki Business Park in Warsaw, and we are also building and completing an office property in Krakow. In Wroclaw we are starting to construct an office building. In the Czech Republic, work is progressing on a holiday home complex in Spindleruv Mlyn. We would like to take this opportunity to thank you, our shareholders, business partners and “BUILDING staff, for your trust, your loyalty and your cooperation. We hope that in the coming years we will once again be able to conquer the great challenges facing UBM together, and add yet REPUTATION: another chapter to our success story. 140 years is proof of reliability – a good re- putation that UBM will continue to work on in the future.” Karl Bier Heribert Smolé Martin Löcker (Chairman) Martin Löcker from l to r: Martin Löcker, Heribert Smolé, Karl Bier (Chairman) Statutory bodies of the company Karl Bier Heribert Smolé Martin Löcker Chairman of the Managing Board Degree in law, tax specialist; general Joined the Porr Group in 1973, head of Studied industrial engineering and con- Our Company Our manager of several project companies, department for commercial administration struction at the Technical University in member of UBM AG Managing Board of investments from 1985; joint signatory Graz; postgraduate studies in real estate since 1992. Responsible for the growth (Gesamtprokurist) of UBM AG from 1990, economics at the European Business School and expansion of the project develop- general manager of various companies of in Munich; joined the PORR Group in 2001. ment business in Austria and abroad, the PORR Group. Member of Managing His responsibilities include technical ma- leasing and tailored financing models in Board at UBM AG since 1997. Responsible nagement, facility management, asset ma- the banking sector, for market monitoring, for finance and accounting, controlling, nagement for hotels, technical controlling, PR, law and contracts, marketing, sales as financial auditing/reporting/forecasting, quality management and capital budgeting well as HR. credit management/financing and investor analysis. He has been a member of the relations, as well as insurance. Managing Board at UBM AG since 2009. SUPERVIsorY BoarD Horst Pöchhacker, Chairman Karl-Heinz Strauss, Vice Chairman (member until 27 February 2013, vice chairman from 27 February 2013) Dr. Bruno Ettenauer Bernhard H. Hansen (from 3 May 2013) Christian B. Maier (from 3 May 2013) Iris Ortner Dr. Peter Weber (from 3 May 2013) Success factors Florido Tower, Vienna UBM – RECOGNISED SUCCESS IN CEE Thanks to our many years of experience and the resultant market and sector know-how we have been a recognised player on the real estate development market since the 1990s. We are proud of our outstanding track record with major projects in Central and Eastern Europe. A recognised quality of buildings at attractive prices – this is what comes of using the entire supply chain in real estate projects, and it is also how to create the potential for in- creasing value on an ongoing basis. We strive to minimise risks as much as possible through diversifying our projects by region and sector. All of these factors have contributed to UBM becoming a full-service provider in real estate development. HISTORY OF UBM UBM was established on 3 March 1873 and quickly grew to be- 1990s UBM intensified its activities in the fields of project deve- come the second largest brick-maker of the Austrian monarchy. lopment and project management, which led to the spread of More than 2,000 people were employed in ten brickworks, and operations through Central and Eastern Europe. the company commanded a share of roughly 30% on the Vienna brick market. In 1997 the name changed to UBM Realitätenentwicklung AG. Markets entered from 1992 to 2011: Czech Republic, Poland, In 1912 PORR acquired the majority of shares in UBM. In 1916 Hungary, Germany, France, Slovakia, Switzerland, Bulgaria, the company withdrew from brick production when it was sold Croatia, Romania, Ukraine, Russia and the Netherlands. to present-day Wienerberger Baustoffindustrie AG. From the Our lines of business 01 01 Hotels 02 Offices 03 Residential buildings 04 Trade 05 Logistics/Commerce 06 Garages/Parking 07 Revitalisation 08 Special projects 04 09 Urban development 8 Real estate segments Real 07 08 02 05 03 06 09 UBM shares Development of Developments on the international stock markets Vienna stock exchange 2013 was an exceptional year on the world‘s stock The Vienna stock exchange can look back on a posi- exchanges.
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