ECO Business-Immobilien AG

euro adhoc: ECO Business-Immobilien AG
quarterly or semiannual financial statement
ECO Business-Immobilien AG: successful trend in Q1 2007

-------------------------------------------------------------------------------- Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement. -------------------------------------------------------------------------------- 22.05.2007 ECO Business-Immobilien AG: successful trend in Q1 2007 Vienna, 22 May 2007. ECO Business-Immobilien AG, listed in the Prime Market of the Vienna Stock Exchange, continued its successful corporate development in the first quarter of 2007. Record figures were posted for all sales and earnings ratios. EBIT was increased 257% to EUR 11.79 million. As of the reporting date, property assets totalled EUR 698 million. The current acquisition pipeline of over EUR 800 million will allow the Company to continue its growth. New records for sales and earnings ratios With the expansion of the real estate portfolio, new records were achieved for all sales and earnings ratios in the reporting quarter. Against the first quarter of 2006, rental income increased by 85% to EUR 11.52 million. EBIT thus rose to EUR 11.79 million, a year-on-year increase of 257%. In addition to higher rental income as a result of increased rentable space, disposable gains from real estate sales in the trading portfolio of EUR 2.29 million (Q1/2006: EUR 0.0 million) and revaluation gains contributed to the strong earnings surge. The revaluation gains for IFRS valuation totalled EUR 2.41 million (Q1/2006: EUR 0.0 million) or 0.35% of total real estate assets. Quarterly earnings per share improved from EUR 0.11 in the previous-year period to the current figure of EUR 0.23. Within a year, real estate assets increased from approximately EUR 390 million at the end of the first quarter of 2006 to approximately EUR 698 million. In the first quarter of 2007, trading activities resulted in real estate worth EUR 15.3 million being sold at a profit. Expansion of real estate portfolio planned The market for business real estate continues to offer ECO major opportunities, which the Company intends to leverage, not just in its core markets of Austria and Germany, but also in the CEE countries. ECO currently has an acquisition pipeline exceeding EUR 800 million, something which will be systematically implemented over the next 12-18 months. A large position is to be developed, especially in the CEE area. Here ECO will proceed on a very selective basis, only investing in properties which either increase overall Company income on a sustained basis or which can be sold on at a profit from the trading portfolio. With an equity ratio of 42%, ECO has a good basis for growth activities. To finance all acquisitions, today's Annual General Meeting is also to vote to approve a capital increase of up to 20 million new shares. Business segments As part of its expansion strategy, ECO has clearly detailed the segmentation of its business areas in line with the business characteristics of the individual segments and markets and thus the risk-return profile into the "Hold Portfolio", "Trading Portfolio" and "CEE Portfolio". The Hold Portfolio is the core business focusing on collateral and assets, covering the home markets of Austria and Germany. The trading activities which make a decisive contribution to optimising the portfolio and profits are posted to the Trading Portfolio business segment. The Eastern European growth markets are in the CEE Portfolio where the acquisition pipeline already has a total volume exceeding EUR 550 million; here investments are made via the ECO Eastern Europe Real Estate AG subsidiary. The development of the Company in the opening months of 2007 combined with the attractive acquisition pipeline leads the Board of Management to anticipate the ongoing positive development of ECO in financial 2007. Company data (EUR thousand) 1-3/2007 1-3/2006 1-12/2006 Revenues 11,522 6,236 38,803 Changes in fair value of investment property 2,410 0 6,068 Gain on disposal of non-current assets 2,292 0 9,819 Operating profit (EBIT) 11,785 3,307 38,280 Profit before tax (EBT) 7,417 2,235 24,739 Profit for the year 5,694 1,658 18,191 Profit for the year (after minorities) 5,625 1,541 17,900 Earnings per share (EUR) 0.23 0.11 0.99 Average number of shares 25,000,000 13,465,625 17,997,115 Rounding differences could arise as a result of the presentation in EUR thousand. Property data 2007-03-31 2006-03-31 2006-12-31 Number of objects 1) 118 60 126 Total rentable space (sqm) 2) 457,643 314,585 463,431 Garage spaces 2,334 1,553 2,339 Property portfolio (EUR `000) 3) 697,532 388,656 697,223 1) incl. Trading Portfolio 2) For garage spaces a conversion factor of 20 sqm / per space has been used 3) incl. Construction in Progress You can download this ad hoc disclosure including the abbreviated consolidated balance sheet and the consolidated income statement on the website end of announcement euro adhoc 22.05.2007 08:10:00 -------------------------------------------------------------------------------- ots Originaltext: ECO Business-Immobilien AG Im Internet recherchierbar: Further inquiry note: ECO Business-Immobilien AG, Friedrich Scheck, CEO, Tel.: +43(1)535 21 99, Fax: +43(1)535 21 99-99,, Hochegger|Financials, Roland Mayrl, T +43 1 504 69 87-31, Branche: Real Estate ISIN: AT0000617907 WKN: A0D8RY Index: Standard Market Auction Börsen: Wiener Börse AG / Regulated free trade

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