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conwert Immobilien Invest SE

EANS-Adhoc: conwert surpasses sales targets: in 2009, properties totalling EUR 350 million were sold with a double-digit profit margin

  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.
12.01.2010
Vienna, 12.01.2010. conwert Immobilien Invest SE, listed on the 
Vienna Stock Exchange, sold properties totalling more than EUR 350 
million in the 2009 financial year based on preliminary figures. The 
sales target, which was raised from an original EUR 200 million to 
EUR 300 million, was thus again exceeded significantly. conwert 
generated high profits by selling the properties. Taking into account
the negative cash contribution resulting from the termination of a 
joint venture in Germany, the IFRS margin amounted to roughly 10% on 
average and the cash profit margin to approximately 15% based on 
acquisition cost. Without this extraordinary transaction, conwert 
realised an IFRS profit margin of roughly 13% and a cash profit 
margin of approximately 22%.
The good sales business was essentially influenced by the strong 
demand for high-quality apartment buildings and freehold flats in 
Austria, where roughly 63% of the proceeds on the sale of properties 
were realised. Business also developed clearly positively in Germany,
where revenues exceeded the EUR 100 million mark for the first time.
Johann Kowar, Chairman of the Executive Board: "In the financial year
2009, we were able to optimally use the strong demand for 
high-quality freehold flats and apartment buildings. We clearly 
exceeded our sales targets and realised cash earnings of roughly EUR 
45 million." Johann Kowar expects the sales business to remain strong
in the financial year 2010. "Demand for top properties continues 
unabated. Our sales pipeline is full, and we are confident to trade 
10% of our property portfolio again in 2010. We will re-invest the 
profits from the sales. conwert will thus also be found on the buyer 
side this year."
end of ad-hoc-announcement ==========================================
====================================== This press release 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.
end of announcement                               euro adhoc

Further inquiry note:

conwert Immobilien Invest SE
Peter Sidlo, Head of Corporate Communications - Investor Relations
T +43 / 1 / 521 45-250
E sidlo@conwert.at

Q-COM Financials
Roland Mayrl
T +43 / 1 / 504 69 87-331
E r.mayrl@qcom.at

Branche: Real Estate
ISIN: AT0000697750
WKN: 069775
Index: WBI
Börsen: Wien / official dealing

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