Warimpex Finanz- und Beteiligungs AG

euro adhoc: Warimpex Finanz- und Beteiligungs AG
quarterly or semiannual financial statement
Warimpex posted growth on all levels in the first quarter of 2007

@@start.t1@@--------------------------------------------------------------------------------   Disclosure announcement transmitted by euro adhoc. The issuer is responsible   for the content of this announcement. --------------------------------------------------------------------------------@@end@@

3-month report

30.05.2007

. Revenues increased by 69% . EBITDA adjusted for sales of subsidiaries up by 50% (non-adjusted figure +    228%) . Sale of an office building in Prague . Successful flotation in Vienna and Warsaw supports further growth . Joint venture with Louvre Hotels to develop chain of budget hotels in CEE

@@start.t2@@|Key figures in EUR m                            |Q1 2007 |Q1 2006 |Change in %        |
|Revenues                                                |14.5      |8.6        |+ 69%                 |
|EBITDA net of gains from the sale of  |1.8        |1.2        |+ 50%                 |
|project companies                                 |            |            |                         |
|Gains from the sale of project            |2.2        |-          |-                        |
|companies                                              |            |            |                         |
|EBITDA                                                  |4.0        |1.2        |+ 228%                |
|EBIT                                                      |1.9        |- 0.7    |-                        |
|Profit for the period                          |0.1        |- 0.8    |-                        |
|                                                            |            |            |                         |
|Number of hotels                                  |12         |8          |+ 50%                 |
|Number of office and commercial          |7          |6          |+ 17%                 |
|properties                                            |            |            |                         |
|Number of hotel development projects  |10         |7          |+ 43%                 |@@end@@

Vienna-based Warimpex Finanz- und Beteiligungs AG can look back on   an  eventful 1st quarter 2007 with strong growth on all  levels.   Revenues  and  profit  were raised significantly; the stock exchange flotation and a joint venture  for  the development of budget hotels are to accelerate the Group's course of growth.

Revenues increased - primarily due to the larger real estate portfolio - by  69% from EUR 8.6m in the 1st quarter 2006 to EUR 14.5m  in  the  1st  quarter  2007, while EBITDA surged by 228% to EUR 4.0m. EBIT, which was negative at EUR  - 0.7m in the first quarter of the prior year, climbed to EUR  1.9m  in  the  reporting period. The sale of the 50% shareholding in an office building in Prague,  among other things, contributed to this increase in   earnings.  EBITDA  net  of  gains from the sale of project companies rose  by  50%.  The  profit  for  the  period amounted to EUR 0.1m,   after  EUR  - 0.8m  in  the  comparable  quarter  of  the previous year.

Warimpex completed an Initial Public Offering along with a capital   increase  in January 2007, and its shares have been listed for   trading  on  the  Vienna  and Warsaw stock exchanges since that date. This  capital  measure,  which  injected around EUR 62.2m in  fresh   capital  into  the  company,  strengthens  Warimpex' capital base and its opportunities for further expansion.

The company's equity rose accordingly from EUR 87.0m at year end to EUR  147.7m, while total assets as at 31 March 2007 amounted to EUR 409.7m after  EUR  385.0m as at the year-end reporting date of 31 December 2006.

Warimpex carries property, plant and equipment at  cost  less   depreciation  and amortisation, and increases in the value of real estate assets are not  realised annually and recognised in income. For this reason, comparison  of  the  Group's assets, financial position and earnings indicators  with  those  of  other  real estate companies is only possible to a limited extent.

At the end of March, Warimpex' stake in a fully let office  property in  Prague was sold to the joint venture partner.

Together  with  Louvre  Hotels,  Warimpex  set  up  a  joint  venture for    the development of a chain of budget hotels. The two companies will  expand  Louvre Hotels' existing successful  hotel  brands  -   Campanile,  Première  Classe  and Kyriad - in Central and Eastern Europe. A first investment  phase  foresees  the construction of 30 new budget hotels. Warimpex will  act  as  developer  in  the joint venture, while Louvre Hotels acts as the hotel operator.

Further hotels in existing and new markets such as  Slovakia,   Serbia,  Romania, Russia and Ukraine are to complement the portfolio in the future. Based  on  its additional financial power and strategy of  controlled  expansion  the  Warimpex Group  will  press    ahead   with    its    dynamic    programme    of    investment. Commensurately,   the  company  expects  to  continue  delivering    above-average growth.

@@start.t3@@end of announcement                                                 euro adhoc 30.05.2007 08:30:00
--------------------------------------------------------------------------------@@end@@

ots Originaltext: Warimpex Finanz- und Beteiligungs AG
Im Internet recherchierbar: http://www.presseportal.ch

Further inquiry note:
Warimpex Finanz- und Beteiligungs AG
Phone: +43 1 310 55 00
Christoph Salzer, mailto:presse@warimpex.com
Daniel Folian, mailto:investor.relations@warimpex.com
www.warimpex.com

Branche: Real Estate
ISIN:      AT0000827209
WKN:        
Index:    ATX Prime
Börsen:  Wiener Börse AG / official market



Weitere Meldungen: Warimpex Finanz- und Beteiligungs AG

Das könnte Sie auch interessieren: