CA Immobilien Anlagen AG

EANS-Adhoc: CA Immobilien Anlagen Aktiengesellschaft
Interim report as of 31 March 2009: Increase in Rental Income - Group Result Impacted by Market Development in CEE and SEE . Rental income increased by 4.8 % . Reduction of indirect ...

-------------------------------------------------------------------------------- ad-hoc disclosure transmitted by euro adhoc with the aim of a Europe-wide distribution. The issuer is solely responsible for the content of this announcement. -------------------------------------------------------------------------------- quarterly report 26.05.2009 Vienna, May 26 2009. Compared to the first quarter of 2008 rental income of the CA Immo Group increased by 4.8 % to EUR 45.2 m. A significant part of this increase can be attributed to the favourable development of the Austrian portfolio, where as a result of lower vacancy levels and several additions to the portfolio an increase of 7.9 % was achieved. Property sales contributed EUR 4.7 m (Q1 2008: EUR 8.5 m) to the result, of which roughly half came from sales of assets held for trading and half from the sale of long-term properties. The implementation of cost cutting measures lead to a significant reduction of indirect expenditures, which decreased by 18.4 % to EUR 10.8 m. EBITDA amounted to EUR 36.4 m, which, mainly as a result of the lower contributions from sales of properties, means a reduction of 8.0 % compared to Q1 2008. The revaluation result came out at EUR -51.6 m. Negative revaluations in our CEE and SEE portfolio of EUR -59.3 m were partly counterbalanced by positive revaluations of EUR 7.8 m of property assets under development in Germany following the first time application of IAS 40 on property assets under development. In addition to financing costs of EUR -26.5 m, the financial result was also negatively impacted by foreign currency effects and valuation changes of interest rate hedges and therefore amounted EUR -34.9 m (Q1 2008: EUR -29.4 m). Earnings before tax (EBT) for the first three months 2009 amounted to EUR -51.8 m (Q1 2008: EUR 10.9 m), net income after minorities was EUR -33.6 m (Q1 2008: EUR 3.2 m). Net asset value (NAV) per share as of March 31 2009 was 18.22 EUR (Dec 31 2008: EUR 18.92). Operating cash flow for the first quarter 2009 was EUR 30.8 m. The equity ratio of CA Immo at the balance sheet date reached 40 %. Net debt as of March 31, 2009 was unchanged at EUR 1.6 bn compared to a real estate portfolio of EUR 3.8 bn. Despite the challenging market environment, CA Immo was able to sign property sales in Germany and Austria with a total value of over EUR 150 m since the beginning of the year. Of these, EUR 17 m became effective in Q1. These transactions have an important positive effect on the Group, both in terms of the liquidity position as well as with regard to the financial result. Another important operational success of the first quarter 2009 was the approval of a loan financing in the amount of EUR 254 m for the planned project Tower185 in Frankfurt. These transactions demonstrate again that, due the quality and first class locations, there is demand for our projects and adequate financing can be obtained even in these difficult times. Key financial figures | | | | | |in EUR million |Q1 2009 |Q1 2008 |in EUR | | | | |million | |Rental income |45.2 |43.1 |+4.8% | |Net operating income |40.2 |39.3 |+2.2% | |Result from the sale of properties |2.3 |7.2 |-67.6% | |Indirect expenditure |-10.8 |-13.2 |-18.4% | |EBITDA |36.4 |39.5 |-8.0% | |Revaluation result |-51.6 |1.9 |n.a. | |Operating result (EBIT) |-16.9 |40.3 |n.a. | |Financial result |-34.9 |-29.4 |-18.7% | |Net income before taxes (EBT) |-51.8 |10.9 |n.a. | |Consolidated net income |-54.5 |8.9 |n.a. | |Consolidated net income, parent company |-33.6 |3.2 |n.a. | |Result per share (in EUR) |-0.39 |0.04 |n.a. | |Operating cash flow |30.8 |36.5 |-15.6% | | | | | | | |31.3.2009|31.12.2008| | | | | | | |Property assets (EUR million) |3,791.0 |3,788.3 |0% | |NAV per share (in EUR) |18.22 |18.92 |-3.7% | |NNNAV per share (in EUR) |19.07 |20.50 |-7.0% | end of announcement euro adhoc -------------------------------------------------------------------------------- ots Originaltext: CA Immobilien Anlagen AG Im Internet recherchierbar: http://www.presseportal.ch Further inquiry note: CA Immobilien Anlagen AG Mag. Florian Nowotny (Investor Relations) Mag. Claudia Hainz (Investor Relations) Tel.: +43 (0)1 532 59 07 Fax: +43 (0)1 532 59 07-595 e-mail: ir@caimmoag.com www.caimmoag.com Branche: Real Estate ISIN: AT0000641352 WKN: 064135 Index: Immobilien-ATX Börsen: Wien / official market

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