EANS-Adhoc: conwert Immobilien Invest SE
Half-year results in line with
outlook, forecast for 2011 confirmed
08.08.2011 – 08:59
-------------------------------------------------------------------------------- ad-hoc disclosure transmitted by euro adhoc with the aim of a Europe-wide distribution. The issuer is solely responsible for the content of this announcement. -------------------------------------------------------------------------------- 08.08.2011 Sales revenues of about EUR 250m Operating result (EBIT) between EUR 61m and EUR 63m Publication of preliminary results for H1 2011 to take place on 11 August 2011 Good progress in the implementation of strategy Vienna, 8 August 2011. The Austrian ATX-traded conwert Immobilien Invest SE recorded sales revenues of around EUR 250m in the first half of 2011. The operating result (EBIT) for the first half of 2011 will be between EUR 61m and EUR 63m. Figures for the first six months show that conwert is above plan with regard to the goals set for the full-year 2011 to achieve sales revenues of EUR 600m overall and to increase the operating result (EBIT) of EUR 103.2m recorded in 2010 by 15%. Continued consistent implementation of strategy In addition to the half-year figures, conwert Immobilien Invest SE is also announcing that it will be completing the sale of a portfolio of properties in Vienna worth over EUR 100m with a positive margin above the IFRS book values. This portfolio includes a property worth over EUR 45m held by ECO Business-Immobilien AG. conwert has also closed the participation process for the Berlin Coinvest Portfolio. Jargonnant Partners S.a.r.l is taking over 80% of the portfolio that conwert acquired in the first quarter of 2011 for EUR 90m. 20% of the equity, as well as a further profit share on the overall portfolio, will remain with conwert. In addition, conwert will keep the service business for the entire portfolio during the investment period. Through the partnership, which has now been concluded with retroactive effect, conwert realises a single-digit million profit. With this transaction, conwert has invested its capital highly efficiently. The management expects a return on equity of more than 20% for this portfolio in the coming four years." With the announcement of these figures for H1 2011, which are based on current projections, and of the news regarding the implementation of its strategy, conwert is providing the market its figures at an early stage in an effort to achieve the highest possible transparency. Due to the current situation on the international financial markets, conwert will also publish its preliminary result for the first half of the year on 11 August 2011. Further inquiry note: conwert Immobilien Invest SE, T +43 / 1 / 521 45 - 700, E cw@conwert.at end of announcement euro adhoc -------------------------------------------------------------------------------- issuer: conwert Immobilien Invest SE Albertgasse 35 A-1080 Wien phone: 52145-0 FAX: 52145-111 mail: cw@conwert.at WWW: http://www.conwert.at sector: Real Estate ISIN: AT0000697750 indexes: WBI, ATX stockmarkets: official market: Wien language: English