conwert Immobilien Invest SE

EANS-Adhoc: conwert Immobilien Invest SE
Preliminary overall result for the third quarter at EUR (4.3) million, but operating result significantly above prior-year level

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  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.
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16.11.2011

Vienna, 16 November 2011. According to preliminary figures,  the  Austrian  ATX-
traded conwert Immobilien Invest SE  recorded  a  slightly  negative  result  of
EUR (4.3) million in the third quarter of 2011 (previous  year  31.4).  However,
in comparison with the previous  year,  the  operating  result  (EBIT)  improved
significantly to EUR 19.4 million. As ECO Business  Immobilien  AG  ("ECO")  was
acquired below book value, a one-off profit of EUR 77.6 million was realised  in
the comparable quarter of 2010. Otherwise the quarterly result would  have  been
negative.

The result was characterised by valuation adjustments for ECO amounting  to  EUR
12.7 million and by partial write-downs of RESAG Immobilienmakler  GmbH  of  EUR
3.7  million,  which  were  incurred  in   the   course   of   the   progressing
internalisation of sales activities in Austria. Through the  internalisation  of
sales, conwert provides full transparency in this segment as  well  and  enables
the realisation of cost savings in the range of EUR 1.5 - 2.5 million per year.

In addition, valuation adjustments resulting  from  interest  rate  swap  write-
downs amounting to EUR 4.2 million affected the quarterly result.

With a view to the reporting period of  the  first  nine  months  of  2011,  the
preliminary profit after income taxes amounts of EUR 6.1 million (previous  year
45.4 - also characterised by the profit resulting from  the  takeover  of  ECO).
According to current projections, the profit after  minority  interests  amounts
to EUR 3.6 million (previous year 30.5). conwert will publish the final  results
for the first three quarters on 23 November 2011.

conwert Immobilien Invest SE adheres to the target results for the  entire  year
2011 without change.

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This report contains forward-looking estimates and statements that were made  on
the basis of the information available at this time. Forward-looking  statements
reflect the point of view at the time they are made. We would like to point  out
that the actual circumstances and, consequently, the actual results realised  at
a later date may differ from the  forecasts  presented  in  this  report  for  a
variety of reasons.


Further inquiry note:
conwert Immobilien Invest SE, 
T +43 / 1 / 521 45-700, 
E cw@conwert.at

end of announcement                               euro adhoc 
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issuer:      conwert Immobilien Invest SE
             Albertgasse 35
             A-1080 Wien
phone:       52145-0
FAX:         52145-111
mail:     cw@conwert.at
WWW:      http://www.conwert.at
sector:      Real Estate
ISIN:        AT0000697750
indexes:     WBI, ATX
stockmarkets: official market: Wien 
language:   English
 



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