EANS-News: Grand City Properties S.A.: H1 2012 reviewed financial results show strong operational performance (with document)
25.09.2012 – 13:40
-------------------------------------------------------------------------------- Corporate news transmitted by euro adhoc. The issuer/originator is solely responsible for the content of this announcement. -------------------------------------------------------------------------------- 6-month report Luxembourg (euro adhoc) - Grand City Properties S.A.: H1 2012 reviewed financial results show strong operational performance ------------------------------------------------------------------------------ - Strong interim performance in the first half of 2012 with reported post-tax profit of EUR 36.5 million for the six months ended June 30, 2012 - Robust growth with shareholder equity value of EUR 130.1 million ------------------------------------------------------------------------------ Luxembourg, 25 September 2012 - Grand City Properties S. A. has completed the first half-year of 2012 with a strong reported operating profit of EUR 54.4 million and post-tax profit of EUR 36.5 million (including minority interest). The Company consolidated revenues came to EUR 18.3 million, while the capital gains from revaluation of property portfolio and sales of properties came to EUR 45.7 million. The investment portfolio grew by 29% compared to the end of 2011 to EUR 341.7 million. Total equity increased to EUR 130.1 million (including minority interest). During the reporting period, the Company took over 3,461 residential units in North-Rhein Westphalia region. Subsequent to the period-end, the Company successfully completed a capital increase against contribution in cash, with a total of 5.5 million of new shares issued and gross proceeds of EUR 15.125 million received from strategic institutional investors. With LTV of [48%] the company maintains a sound balance sheet structure and remains solid with long term financing. About GRAND CITY PROPERTIES S.A. Grand City Properties S.A. is a residential property investment company with main focus on residential investments in Germany. The group buys, redevelops, turns around and optimizes residential properties throughout Germany. Contact: Grand City Properties S.A. 6, boulevard Pierre Dupong L 1430 Luxemburg www.grandcityproperties.com Attachments with Announcement: ---------------------------------------------- http://resources.euroadhoc.com/us/5VgMedTT Further inquiry note: Herr Christian Hupfer Tel.: 004930887088192 E-Mail: christian.hupfer@grandcityhotels.com end of announcement euro adhoc -------------------------------------------------------------------------------- Attachments with Announcement: ---------------------------------------------- http://resources.euroadhoc.com/us/5VgMedTT company: Grand City Properties S.A. boulevard Pierre Dupong 6 D-L-1430 Luxembourg phone: 0035226187379 FAX: 0035226187779 WWW: http://www.grandcityproperties.com sector: Financial & Business Services ISIN: LU0775917882 indexes: Entry Standard Index stockmarkets: Open Market: Frankfurt language: English