Patrizia AG (FRA:PAT)
€ 8.72 -0.06 (-0.68%) Market Cap: 745.13 Mil Enterprise Value: 757.58 Mil PE Ratio: 108.50 PB Ratio: 0.64 GF Score: 73/100
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Q2 2019 Patrizia Immobilien AG Earnings Call Transcript

Aug 07, 2019 / 01:00PM GMT
Release Date Price: €17.76 (+3.26%)
Operator

Ladies and gentlemen, thank you for standing by. I'm Emma, your Chorus Call operator. Welcome, and thank you for joining PATRIZIA H1 2019 Conference Call. (Operator Instructions) I would now like to turn the conference over to Karim Bohn. Please go ahead.

Karim Bohn
Patrizia AG - CFO & Member of the Managing Board

Thank you, Anna, and good afternoon, and welcome to the financials of the second quarter of 2019. We had a solid first half of 2019, and we are on track to reach our full year financial goals. We increased our assets under management from EUR 41 billion to EUR 41.6 billion with a transaction volume completed of EUR 3 billion for domestic and international clients in the first half of 2019. We showed a solid growth in management fees of 19.7% year-on-year to 197 -- to EUR 97.1 million. We increased our total service fee income by 28.2% to EUR 174.2 million. And our operating income was EUR 79 million, exceeded our very strong results of the first half of 2018 to 8.9%. Again, we do confirm our full year guidance of EUR 120 million to $130 million of

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