GAGFAH S.A. (XTRA:GFJ) is seeking acquisitions. Finance Chief, Gerald Klinck said that Gagfah could also make acquisitions after refinancing maturing loans. "We are not interested in shrinking but rather in growing," Klinck said, saying the refinancing deals freed the company up to consider acquisitions.

GAGFAH S.A. reported earnings results for the first quarter of 2013. For the period, the company reported income from the leasing of investment property was €200.2 million against €198.9 million a year ago. Rental income, fees, other was €138.9 million against €141.8 million a year ago. EBITDA was €82.8 million against €84.7 million a year ago. EBIT was €80.7 million against €83.9 million a year ago. The recurring FFO was stable at €23.6 million and grew on a per-share basis by €0.01 to €0.12 for the first quarter due to the lower share count. The company is confirming guidance of 5%-10% recurring FFO growth for this year 2013.

GAGFAH S.A. announced financial results for the fourth quarter and full year 2012. For the year, the company reported income from the leasing of investment property of EUR 825.9 million compared to EUR 872.2 million a year ago. Profit from the leasing of investment property was EUR 385.5 million compared to EUR 419.6 million a year ago. EBITDA was EUR 343.8 million compared to EUR 326.5 million a year ago. EBIT was EUR 335.1 million compared to EUR 306.9 million a year ago. NAV was EUR 13.31 per share compared to EUR 12.53 per share a year ago. Net profit was EUR 47.7 million compared to a net loss of EUR 17.9 million in 2011. FFO per share, recurring, without sales was EUR 0.49 down from EUR 0.52 per share a year earlier. The company sold 3,687 units for EUR 213.1 million, which include 937 single-unit sales. For the quarter, the company reported income from the leasing of investment property of EUR 194.3 million compared to EUR 211.2 million a year ago. Profit from the leasing of investment property was EUR 91.2 million compared to EUR 112.2 million a year ago. EBITDA was EUR 84.5 million compared to EUR 79.4 million a year ago. EBIT was EUR 81.9 million compared to EUR 72.6 million a year ago. NAV was EUR 13.31 per share compared to EUR 12.53 per share a year ago. Net Profit was EUR 47.7 million for 2012 compared to a net loss of EUR 17.9 million for 2011. The company also announced that Stephen Charlton has tendered his resignation as member of the Board of Directors effective as of April 16, 2013. Thomas Zinnöcker has been appointed as member of the Board of Directors and CEO of the company, effective as of April 16, 2013. Thomas will succeed Stephen Charlton. Zinnöcker was chairman of the management board and chief executive officer at Berlin housing group GSW Immobilien AG. Charlton was a member of the board of directors of Gagfah S.A.and CEO-in-office of the Gagfah Group. The company provided earnings guidance for 2013. The company expected that its 2012 results were in line with its expectations and issued an optimistic outlook for 2013 and beyond.