Vivacon AG

VIVACON AG - Trading statement for the financial year 2007 and outlook for 2008

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Köln (euro adhoc) - In 2007, VIVACON AG (ISIN DE0006048911) has had its most active and profitable year with the highest net income in company history. The company acquired more than 17,600 residential units for an average acquisition multiple of 11.5x. In the same period, VIVACON sold-on more than 13,100 residential units in total with transaction volume of more than EUR 560m. The expected net income will be within the range of the communicated company guidance of EUR 54-58m.

At the beginning of the year 2008, the number of residential units owned by VIVACON AG was already above 7,100 with an annual rental income of more than EUR 22m. The majority of these units is currently prepared for a disposal by the asset management of the Company. The annualized ground lease income amounted to approximately EUR 14m at the beginning of the year. The respective ground lease contracts are fully German CPI indexed and have an initial maturity of 198 years on average.

In 2008, VIVACON AG estimates to sell more than 16,000 residential units with a total transaction volume of above EUR 700m. The expected net income in 2008 will amount to more than EUR 60m. VIVACON also reconfirms its longstanding accounting policy to only recognize gains materialized through third-party transactions and refrains from writing-up residential portfolios on the basis of appraisal reports. The final results for the financial year 2007 will be published on the 31st of March 2008.

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ots Originaltext: Vivacon AG
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Further inquiry note:
Sven Annutsch
Head Investor Relations & Corporate Finance
Tel: + 49 221 / 1305621 630

Branche: Real Estate
ISIN:      DE0006048911
WKN:        604891
Index:    SDAX, CDAX, Classic All Share, Prime All Share
Börsen:  Börse Frankfurt / regulated dealing/prime standard
              Börse Berlin / free trade
              Börse Hamburg / free trade
              Börse Stuttgart / free trade
              Börse Düsseldorf / free trade
              Börse München / regulated dealing

Weitere Meldungen: Vivacon AG

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