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Vivacon AG

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Vivacon AG increases EBIT by 230% to EUR 67.2m and net income by 108% to EUR 34.7m in Q3 2008

  Disclosure announcement transmitted by euro adhoc. The issuer is responsible
  for the content of this announcement.
9-month report
13.11.2008
Vivacon AG (ISIN DE0006048911) generated revenues of EUR 47.6m 
following EUR 60.3m in the quarter of the previous year. EBIT 
improved by 230% to EUR 67.2m (Q3 2007: EUR 20.4m) and pre-tax profit
reached EUR 50.5m following EUR 11.6m in Q3 2007. The market 
valuation of hedging instruments (inflation and interest swaps) has 
negatively influenced the pre-tax profit by EUR -6.1m (Q3 2007: EUR 
-2.5m). Net income reached EUR 34.7m compared to EUR 16.7m in Q3 
2007.
The acquisition of further ground lease portfolios with an annual 
ground lease cash flow of EUR 3.0m and especially the positive impact
from the declined real interest rate level have contributed to the 
result improvement. Moreover the 43% revenue growth of the private 
investor segment has contributed to the solid group revenue growth.
The 9M 2008 figures look as follows: revenues amounted to EUR 126.1m 
(9M 2007: EUR 117.8m), EBIT resulted to EUR 87.1m (9M 2007: 39.2m), 
EBT was EUR 52.3m (9M 2007: EUR 33.2m) and net income reached EUR 
34.7m following EUR 31.7m in 9M 2007.
In the 9M 2008, the undiluted EPS reached EUR 1.75 following EUR 0.86
in the same period of the previous year. Order backlog amounted to 
EUR 57.9m following EUR 117.7m at the end of September 2007.
Vivacon is currently in several negotiations about acquisitions of 
new ground lease portfolios as well as the disposal of real estate 
portfolios currently held for sale. At present, the German real 
estate market is characterized by significantly expanded negotiation 
processes and a strong decline in portfolio transactions due to the 
international financial crisis. Against the background of the 
difficult market environment and the uncertainty of future signing 
dates, the management board is not keeping up the previous 
communicated full-year net income guidance of EUR 60m.
end of announcement                               euro adhoc

Further inquiry note:

Sven Annutsch
Leiter Investor Relations & Corporate Finance
Tel: + 49 221 / 1305621 630
Sven.Annutsch@vivacon.de

Branche: Real Estate
ISIN: DE0006048911
WKN: 604891
Index: SDAX, CDAX, Classic All Share, Prime All Share, DAX
International 100
Börsen: Börse Frankfurt / regulated dealing/prime standard
Börse Berlin / free trade
Börse Hamburg / free trade
Börse Stuttgart / free trade
Börse Düsseldorf / free trade
Börse München / regulated dealing

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