Warimpex Finanz- und Beteiligungs AG

euro adhoc: Warimpex Finanz- und Beteiligungs AG
Financial Figures/Balance Sheet
Warimpex boosts revenues by 23% in the first three quarters of 2008

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9-month report


Warimpex boosts revenues by 23% in the first three quarters of 2008

@@start.t2@@. Total revenues up by 23% to EUR 70.9 million
      . EBITDA grow by 20% to EUR 28.4 million, EBIT by 15% to EUR 19.1 million
      . angelo Plzen opens and angelo Bucharest re-opens

|Key figures in millions of euros                        |1-9/2008 |1-9/2007  |Change |
|                                                                          |              |                |          |
|Total revenues                                                    |70.9        |57.7         |+23%    |
|Gains from the sale of project companies          |9.6         |2.4          |+305%  |
|EBITDA                                                                 |28.4        |23.7         |+20%    |
|EBIT                                                                    |19.1        |16.6         |+15%    |
|Profit for the period                                         |2.0         |11.5         |-82%    |
|Earnings per share in EUR*                                 |0.06        |0.32         |-81%    |
|                                                                          |              |                |          |
|Number of hotels                                                 |17          |14            |+3        |
|Number of rooms (adjusted for proportional        |2,631      |2,117        |+514    |
|share of ownership)                                            |              |                |          |
|Number of office and commercial properties        |7            |7              |-         |
|Number of development projects                          |14          |9              |+5        |
|                                                                          |              |                |          |
|                                                                          |6/30/2008|12/31/2007|          |
|Gross asset value (GAV)                                      |636.4      |614.8        |+4%      |
|Triple net asset value (NNNAV)                          |341.4      |387.4        |-12%    |
|NNNAV per share in EUR                                        |9.5         |10.8         |-12%    |

*) Based on average number of shares in the period@@end@@

Total revenues in the first nine months of this year grew from EUR 57.7  million to EUR 70.9 million compared to the same period of 2007,  an  increase  of  23%. EBITDA and EBIT also improved; the EUR 2.5 million increase in  EBIT  can  above all be attributed  to   increased  proceeds  from  the  sale  of  properties  and property development projects.

While gains from the sale of project companies totalled EUR 2.4 million  in  the first three quarters of 2007, such proceeds increased to EUR 9.6 million in  the same period of 2008. This is due to the sale of a 10% stake in the Airport  City development project in St. Petersburg. Because of the poorer  financial  result, however, the profit for the period  fell  from  EUR  11.5  million  to  EUR   2.0 million in year-on-year comparison.

Real estate assets As of the end of September  2008,  the  Warimpex   Group  real  estate  portfolio comprised twenty-four properties in total, seventeen of which  were  hotels  and seven office buildings. The company also holds a  large  number  of  undeveloped plots and development  projects  in  eight  countries  in  Central  and   Eastern Europe. The primary regional focus is on Hungary, the  Czech Republic,  Poland, Romania and Russia.

Compared to the end  of  2007,  estimated  property  values  were   down  due  to considerably increased yields in CEE and higher construction  costs.  This  also depressed the NNNAV. As of 30 June 2008,  the  NNNAV  per  share  was  EUR  9.5, roughly 12% lower than at the end of 2007, but  still  well  above  the  current share price.

Outlook Warimpex is currently developing thirteen projects; the expansion of the  angelo airport hotel in Bucharest was concluded in September and the  angelo  in  Plzen opened at the beginning of October. Two  andel's  hotels  are  set  to  open  in Berlin and Lodz and one angelo hotel in Ekaterinburg by the  second  quarter  of 2009. The development of budget hotels  under  the  joint  venture   with  Louvre Hotels is proceeding according to schedule.

Warimpex Group will be focusing  on  completing  its  development   projects  and thereby bolstering its market  position  on  its  home markets  in  the  coming months. Management will also be employing active asset  management  to  maintain the current good yields from the group's existing high-quality properties.

@@start.t3@@end of announcement                                                 euro adhoc

ots Originaltext: Warimpex Finanz- und Beteiligungs AG
Im Internet recherchierbar: http://www.presseportal.ch

Further inquiry note:
Warimpex Finanz- und Beteiligungs AG
Phone: +43 1 310 55 00
Christoph Salzer
Daniel Folian, mailto:investor.relations@warimpex.com

Branche: Real Estate
ISIN:      AT0000827209
Index:    ATX Prime
Börsen:  Wiener Börse AG / official market

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