Immoeast Immobilien Anlagen AG

IMMOEAST: Revenues and Profits More Than Tripled

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IMMOEAST: Revenues and Profits More Than Tripled

@@start.t2@@•          EBIT increases 233 percent to 67.9 million Euro in the first quarter of
•          Turnover rises 210 percent to 36.2 million Euro
•          Half of planned investment volume for 2006/07 already realised
•          Investments for an additional 2.65 billion Euro in final negotiation
(due diligence)
•          Expansion in additional countries and new market segments@@end@@

IMMOEAST Immobilien Anlagen AG had an outstanding start in the 2006/07 fiscal year. In the first quarter (May 1 to July 31, 2006) all relevant profit and growth figures substantially improved compared to those of the previous year and the company continued to expand its dominant market position in Central and Eastern Europe.

The EBIT more than tripled compared to the first quarter of 2005/06 (+233 percent to 67.9 million Euro), while at 17.9 million Euro gross cash flow quintupled and earnings before tax climbed from 30.2 million Euro to 56.9 million Euro.

Turnover rose by 210 percent to 36.2 million euro. Equity increased by 2.75 billion Euro in June and the positive share price development by 189.5 percent from 1.5 billion Euro to 4.36 billion Euro. The fair value of real estate assets rose 214 percent to 2.86 billion Euro.

Investments also reached record levels. In the reporting period investments totalling a volume of 2.55 billion Euro were carried out. Of these, 1.0 billion Euro is already activated in the balance sheet and reflected in an increase of the fixed assets. Projects and project phases which will only be reported in the balance sheet in later periods account for 1.55 billion Euro. These essentially include development projects for which extensive construction work has to be done, forward purchases and increases in the stakes in company holdings agreed to for a later period of time. With these investments, half of the planned investment volume of 5.2 billion Euro has already been realised.

The total outstanding volume of 2.65 billion Euro is in the final stages of negotiation, that is, due diligence is currently being conducted. Moreover, there are still investments of an additional 560 million Euro which have already been approved by the supervisory board.

In the course of its investment campaign, IMMOEAST also expanded into new fields of business and new country markets. During the first quarter, initial investments were made in Ukraine and the first direct investments carried out in Russia. Sectorally, the launch into the residential business was especially remarkable. The acquisition of 25 percent in the leading CEE real estate developer, the TriGránit Holding is also an important step. As a result, IMMOEAST considerably enhanced its involvement in the development business and now has direct access to several of the most attractive investments in the entire region.

You will find the first quarter 2006 report on our webpage:

Invitation to a Conference Call

In order to discuss the 1st Quarter Results and to address any questions we invite you to participate in a conference call:

Date:    Friday, 22nd September 2006

Time:    4:00 - 5:00 pm CET

Speakers:          CEO, Mr. Dr. Karl Petrikovics
                         CFO, Mr. Mag. Christian Thornton

The conference call will be transmitted through the following channels:

Dial-In Conference Call:  + 49 69 710 491 413 (DE + Europa)
                                              + 1 (1) 866 796 1569 (USA)
                                              + 44 207 099 3524 (UK)

If you are not able to join the conference, there will be a playback available:

Dial-In Playback:          + 44 207 108 6233 (UK)
                                      + 1 (1) 866 416 2558 (USA)
                                      + 49 69 2222 7229 (DE + Europe)

You will be asked for the code 532, confirm with the # -sign. The Playback will be available for 48 business hours, starting one hour after the conference has finished.

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* please note the retention period *

ots Originaltext: Immoeast Immobilien Anlagen AG
Im Internet recherchierbar:

Further inquiry note:
MMag. Dr. Karl Petrikovics
Vorstandsvorsitzender der Immoeast
Immobilien Anlagen AG
Tel.: +43 1 536 16-400

Branche: Real Estate
ISIN:      AT0000642806
WKN:        A0BLUL
Index:    ATX Prime
Börsen:  Wiener Börse AG / official market

Weitere Meldungen: Immoeast Immobilien Anlagen AG

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