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Abonner conwert Immobilien Invest SE

conwert Immobilien Invest SE

euro adhoc: conwert Immobilien Invest SE
other
conwert sold EUR 200 million of properties at a double-digit profit margin in 2008

  Disclosure announcement transmitted by euro adhoc. The issuer is responsible
  for the content of this announcement.
22.01.2009
conwert sold EUR 200 million of properties at a double-digit profit 
margin in 2008
Vienna, 22.01.2009. Preliminary figures indicate that conwert 
Immobilien Invest SE (Vienna Stock Exchange: CWI, Reuters: CONW.VI, 
Bloomberg: CWI AV) sold properties with a total value of approx. EUR 
200 million in 2008. The volume of sales exceeded EUR 90 million in 
the fourth quarter, despite the effects of the economic slowdown. In 
addition, settlement procedures are currently in progress for roughly
EUR 10 million of transactions. The company has therefore met its 
targeted transaction volume for 2008 in spite of the difficult 
climate on property investment markets. During the fourth quarter of 
2008 the objects sold again generated a double-digit profit margin on
the latest IFRS book values. For 2008 conwert therefore recorded a 
double-digit IFRS profit margin and a cash profit margin of over 25% 
based on the acquisition price. conwert has used the proceeds 
generated by these sales to strengthen liquidity and in part to repay
debt. The bank liabilities of EUR 113 million that were due for 
extension at the end of 2008 were prolonged in full. The volume of 
loan extensions for 2009 and 2010 amounts to EUR 55 million and EUR 
50 million, respectively.
This report contains forward-looking estimates and statements that 
were made on the basis of the information available at this time. 
Forward-looking statements reflect the point of view at the time they
are made. We would like to point out that the actual circumstances 
and, consequently, the actual results realised at a later date may 
differ from the forecasts presented in this report for a variety of 
reasons.
end of announcement                               euro adhoc

Further inquiry note:

conwert Immobilien Invest SE
Johann Kowar, Chairman of the Executive Board
T +43 / 1 / 521 45-200
E kowar@conwert.at

Peter Sidlo, Head of Corporate Communications - Investor Relations
T +43 / 1 / 521 45-250
E sidlo@conwert.at

Hochegger|Financials
Roland Mayrl
T +43 / 1 / 504 69 87-31
E r.mayrl@hochegger.com

Branche: Real Estate
ISIN: AT0000697750
WKN: 069775
Index: WBI
Börsen: Wiener Börse AG / official dealing

Plus de actualités: conwert Immobilien Invest SE
Plus de actualités: conwert Immobilien Invest SE