Vivacon AG

euro adhoc: Vivacon AG
Quarterly or Semiannual Financial Statements / VIVACON AG announces record Q1 earnings

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23.05.2005

Ad-hoc Announcement as per § 15 WpHG

VIVACON AG announces record Q1 earnings

Cologne, May 23rd 2005. VIVACON AG (ISIN DE0006048911) has managed to increase Q1 2005 EBIT from a loss of EUR -1.39 mn in 2004 to a profit of EUR 5.72 mn in 2005. The quaterly net income rose to EUR 3.1 mn in 2005 from a loss of EUR -1.18 mn in the previous year. Earnings per share for the first quarter 2005 amount to EUR 0.23 vs. EUR -0.10 in the last year.

Total output rose by 77% to EUR 12.2 mn compared to EUR 6.9 mn in 2004. Revenues in Q1 2005 went down to EUR 4.2 mn from EUR 6.7 mn in the previous year. Pre-order volume, which will lead to revenues in the coming quarters has risen to EUR 32.2 mn against EUR 27.6 mn in 2004.

The key driver for the record first quarter was a profitable transaction with a new portfolio of approx. 1,500 ground leases. VIVACON AG intends to continue to acquire additional portfolios of ground lease rights for future resale or securitization.

Due to its project oriented business model VIVACON AG historically had very volatile quaterly results, whereas the bulk of the annual business volume usually is recorded in the second half-year.

end of announcement                                euro adhoc 23.05.2005 07:06:00
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Further inquiry note: Lars Schriewer Tel.: +49 (0) 221 93761 26 E-Mail: lars.schriewer@vivacon.de

Branche: Real Estate
ISIN:      DE0006048911
WKN:        604891
Index:    General Standard, CDAX, SDAX
Börsen:  Berliner Wertpapierbörse / free trade
              Hamburger Wertpapierbörse / free trade
              Baden-Württembergische Wertpapierbörse / free trade
              Frankfurter Wertpapierbörse / official dealing



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