Immofinanz Immobilien Anlagen AG

IMMOFINANZ Doubles Profit in First Quarter of 2006/07

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IMMOFINANZ Doubles Profit in First Quarter of 2006/07

- Operating profit (EBIT) increases by 98.8 percent

- Revenues increase 43.8 percent to 117.8 million Euro

- Real estate assets climb to eight billion Euro

- Investments at a volume of three billion Euro carried out

In the first quarter of the 2006/07 fiscal year (May 1 to July 31, 2006) IMMOFINANZ Immobilien Anlagen AG reported substantial increases in the company’s most important profit figures, while the growth of the company was also outstanding.

Operating profit (EBIT) basically doubled, improving by 98.8 percent to 144.9 million Euro compared to the same period the year before. The second most important profit figure, earnings before tax (EBT), increased 77.4 percent to 119.4 million Euro.

The company’s revenues rose by 43.8 percent to 117.8 million Euro. Real estate assets reached a fair value of 8.02 billion Euro (up 60.2 percent). The number of properties rose by 83.5 percent to 2182, while lettable space increased 72.3 percent to 7.97 million m² (up 82.1 percent). The company’s equity increased by 110 percent to 5.67 billion Euro due to the capital increases of IMMOFINANZ and its subsidiary IMMOEAST.

The reasons for the company’s excellent performance are the strong development of the most important pillar in Austria, the BUWOG/ESG Group, the resounding success of IMMOEAST in Central and Eastern Europe, while in the west the company is profiting from the exceptional performance of the German market this year.

The investments of IMMOFINANZ also reached a new record level during the reporting period. In the first quarter investments were carried out for a total volume of 3.07 billion Euro. Of these 1.0 billion is already activated in the balance sheet. The remainder is accounted for by development projects, forward purchases and committed increases in the stakes in joint ventures, which will only be gradually reflected in the balance sheet in later periods. In addition to this are extensive preparations for further investments which are to be carried out during the course of this fiscal year. A volume of 2.65 billion Euro is currently in the final stages of negotiations (due diligence).


- Press release:

- Report on the 1st Quarter as of 31 July 2006:

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ots Originaltext: Immofinanz Immobilien Anlagen AG
Im Internet recherchierbar:

MMag. Dr. Karl Petrikovics
Vorstandsvorsitzender der Immofinanz
Immobilien Anlagen AG
Tel.: +43 1 536 16-400

Branche: Immobilien
ISIN:      AT0000809058
WKN:        911064
Index:    ATX Prime
Börsen:  Wiener Börse AG / Amtlicher Handel

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