воскресенье, 28 августа 2011 г.

CA IMMOBILIEN AN. : Ad-hoc Report as at 25.08.

Half-year results as at 30 June 2011

Sharp rise in earnings in H1

 Vienna, 25.08.2011. The figures for the first half of 2011 have been influenced by the inclusion of Europolis in the consolidated accounts of the CA Immo Group. According to Dr. Bruno Ettenauer, Chief Executive Officer of CA Immobilien Anlagen AG, "In spite of the volatile climate that prevails, the acquisition of Europolis at the beginning of the year has enabled the CA Immo Group to increase its earnings for the first six months considerably. In the second half of the year, the emphasis will be on concluding additional real estate sales in Germany and Eastern Europe. We therefore look forward to a strong second-half showing for the CA Immo Group despite the challenging economic environment."

 Significant rise in earnings

Compared to the first six months of last year, rental income for the CA Immo Group rose by 54.1 % to € 127.5 m. Net operating income was up 28.5 % to € 106.1 m. This figure includes a contribution to earnings from the sale of properties intended for trading of € 1.6 m (against € 14.5 m in 2010. Sales of investment properties completed in the first half of 2011 produced revenue of € 35.7 m and profit of € -1.4 m. As in the previous year, most sales are likely to be reflected on the balance sheet in the third and (especially fourth quarters of 2011. On the basis of sales already finalised and in view of the progress in ongoing negotiations, the Management Board of CA Immo is confident that sales will deliver a major contribution to earnings in the second half of 2011, and that the annual sales target of around € 300-350 m will be reached.

There was a 26.0 % increase in EBITDA to € 88. 5 m in the first six months of 2011. The consolidation of Europolis, which is active exclusively in Eastern and South Eastern Europe, also significantly shifted the balance in the contributions to total earnings of the various regional segments. The relative contribution of the Eastern and South Eastern Europe segment to Group EBITDA was double that of the first half of last year at around 58 %; Germany accounted for 28 % and Austria was responsible for 14 %.

Thanks largely to upward valuations of developments in Germany, the revaluation result stood at

€ 26.4 m, compared to € 3.5 m in 2010. Accordingly, earnings before interest and taxes (EBIT also rose sharply, from € 73.5 m to € 112.4 m.

The change in the financial result from € -63.6 m last year to € -74.9 m is essentially caused by the rise in financing costs from € -57.9 m to € -80.0 m linked to the inclusion of Europolis. This increase was, however, counterbalanced by a positive result from the valuation of interest-rate hedges in the amount of € 3.6 m (€ -13.9 m in 2010. This result stood at € 9. 5 m at the end of the first quarter of 2011; however, a reclassification of interest rate swaps for which value changes had been reflected in shareholders' equity in previous periods took place in the second quarter, thus producing a negative effect.

Following on from a result of € 4.2 m last year, consolidated net income after minorities rose to

€ 14.4 m.

 CA Immo’s equity ratio fell as expected to 31.0 % as a consequence of the consolidation of Europolis. The Group’s net debt was € 2.8 bn as at 30 June 2011, with property assets worth around € 5.2 bn.

 Net asset value per share was € 19. 09 as at 30 June 2011, some 2.1 % above the value at the end of last year; NNNAV per share, for which deferred taxes are neutralised, increased by 4.6 % to € 19.83.

 Another lease contract agreed for Tower 185 in Frankfurt

Another high-profile tenant has been secured for Tower 185 in Frankfurt, CA Immo’s largest development project at present: the globally active law firm Mayer Brown LLP. The 4,500 sqm of floor space let to Mayer Brown brings the pre-letting level to approximately 73 %. Construction work on Tower 185 is proceeding according to plan, with completion scheduled for the end of the year.

 The interim report for CA Immobilien Anlagen AG as at 30 June 2011 is published on the company’s web site (www.caimmoag.com.

Financial performance indicators

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CA Immobilien Anlagen AG

Claudia Hainz (Investor Relations

Tel.: +43 (01532 5907

Fax: +43 (01532 590 7595

Email: ir@caimmoag.com

www.caimmoag.com

Wednesday, 24.

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