Immofinanz Immobilien Anlagen AG

IMMOFINANZ Increases EBIT by 52.5 Percent in First Half of 2006/07

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Wien (euro adhoc) - IMMOFINANZ Increases EBIT by 52.5 Percent in First Half of 2006/07

      . Revenues increase to 240 million Euro
      . NAV per share increases to 10.30 Euro
      . Extensive investments in CEE and Germany

IMMOFINANZ AG has been highly successful  in  the  first  half  of the  2006/07 business year. Operating profit (EBIT)  improved  by 52.5  percent  from  197.6 million to 301.4 million Euro, while earnings before tax (EBT) rose by  an  even higher margin of 56.7 percent from 185.7  to  291.0  million  Euro.  Key  growth figures were strongly up as well: revenues increased by 31.3 percent from 182.3 million to 239.3 million Euro despite considerable  investments in  development projects, which will generate rental income only in subsequent periods.

There was an especially strong increase in  real  estate  assets. Usable  space rose by 54.6 percent from 5.81 million m² to  9.0 million  m².  The  number  of properties rose  from  1,818  to  2,324 objects.  The  portfolio's  fair  value exceeded ten billion Euros for the first time, reaching 10.59  billion  Euro  by the end of the second quarter (previous  year  5.62  billion  Euro).  Additional transactions that occurred after the end of the  reporting  period pushed  real estate assets to a record level of 11.76 billion Euro, a gain of  109.1  percent on an annual basis.

The company's net asset value (NAV) increased sharply, too. NAV per share  based on the assets and liabilities in the balance sheet  was 9.65  Euro  as  of  the closing date. NAV per share based on the market value of  IMMOFINANZ's  interest in IMMOEAST was 10.30 Euro (based on the share price of IMMOEAST as  of  October 31, 2006).

All three regional subsidiaries showed markedly positive development.  IMMOEAST enhanced its position as the leading investor in CEE. The considerable  rise  in IMMOEAST share price increased the value of IMMOFINANZ's stake  in  it  to  more than three billion Euro as of the  middle  of  December.  IMMOAUSTRIA  was  very successful in its efforts to boost revenue  from  its  existing  portfolio.  The performance index "IPD Austria" that was recently published for the first  time revealed that IMMOFINANZ's portfolio had a total return of 7.8  percent,  nearly one-third above the market average of 5.9 percent. IMMOWEST expanded its  German portfolio, especially in the logistics sector. The sale of most of its  interest in ProLogis resulted  in  a  profit  of  15  million  Euro.  The  sale  of  four properties in Italy generated substantial profit, too.


      . PRESS RELEASE available at 10:00 a.m. CET:

      . REPORT ON THE FIRST HALF YEAR as of 31 October 2006:

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ots Originaltext: Immofinanz Immobilien Anlagen AG
Im Internet recherchierbar:

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

Branche: Real Estate
ISIN:      AT0000809058
WKN:        911064
Index:    ATX Prime
Börsen:  Wiener Börse AG / official market

Weitere Meldungen: Immofinanz Immobilien Anlagen AG

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