EANS-Adhoc: CA Immobilien Anlagen AG results for 2009,Operational development stable; annual loss cut significantly; voluntary takeover bid for CA Immo International AG

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annual report

24.03.2010

Balance sheet for 31 December 2009 CA Immobilien Anlagen AG publishes
results for 2009 Operational development stable; annual loss cut
significantly; voluntary takeover bid for free float shares of CA
Immo International AG

• Stable operational result: EBITDA +3.0 %
• Positive EBIT of EUR 3.0 m thanks to significantly lower revaluation
losses
• Loss for the period after minorities reduced to EUR -76.9 m
• Targets for 2009 regarding property sales and financings exceeded
• Voluntary takeover bid for CA Immo International shares held in free float
at a price of EUR 6.5 per share

Vienna, 24.03.2010. Thanks to stable operational development and a
sharp reduction in non-realised negative changes in the value of
property assets compared to the previous year, the CA Immo Group
achieved a positive EBIT of EUR 3.0 m in 2009 (EUR -152.6 m in 2008).
The loss for the period after minorities was cut from EUR -237.1 m in
2008 to EUR -76.9 m. Compared to 2008, rental income for the CA Immo
Group rose by 1.0 % to stand at EUR 177.0 m. Revenue from the sale of
long-term real estate and inventory intended for trading in Germany
and Austria totalled EUR 435 m, comfortably exceeding the target of
EUR 300 m defined at the start of the year despite the tough market
climate. Sales made a total contribution of EUR 19.1 m to the result.
Valuation-related charges in the income statement (i.e. the
revaluation result and impairments) fell from EUR -285.6 m in 2008 to
EUR -137.1 m. The main reason behind the value change was the
development of market values in the Eastern and South Eastern Europe
segment, which remained negative in 2009 at EUR -152.0 m. This trend
was counterbalanced by the valuation result in Germany, which reached
+EUR 30.2 m thanks to fair value accounting of property assets under
development for the first time as well as the gradual stabilisation
of the German property market observed since the start of the third
quarter. The revaluation result for Austria stood at EUR -15.3 m.
Despite these devaluations, the EBIT returned to positive territory
in 2009 (EUR 3.0 m compared to EUR -152.6 m in 2008). Financial
results were adversely affected by the negative non-cash effects of
valuation changes linked to interest rate hedging and the value
adjustments of affiliated companies as well as slightly higher
current financing costs of EUR -108.4 m (EUR -105.1 m in 2008), and
thus amounted to EUR -137.5 m in 2009 compared to EUR -142.8 m in
2008. Earnings before taxes (EBT) were EUR -134.5 m in 2009 (EUR
-295.4 m in 2008), and consolidated net income after minorities was
EUR -76.9 m (EUR -237.1 m in 2008). Consolidated net income after
minorities returned to a positive value (of +EUR 1.4 m) in the fourth
quarter of 2009. The upturn in business activity was also reflected
in higher operating cash flow of EUR 120.5 m, 5.2 % above the
previous year´s value.

CA Immo´s equity ratio stood at 40.1 % on the reporting date. As of
31 December 2009, net debt for the Group was EUR 1,472.3 m (-7.5 %)
with property assets of approximately EUR 3.5 bn. Owing to the bonds
issued in quarter four of 2009, liquid assets (including short term
securities) amounted to EUR 504.1 m on 31 December 2009 (compared to
EUR 332.6 m on 31.12.2008); another appr. EUR 500 m is available to
the CA Immo Group through committed credit lines linked to projects
under development. One of the key objectives of 2009 - improving
liquidity and capitalisation - was thus achieved. Net asset value
(NAV) per share was EUR 17.87 on 31 December 2009 (EUR 18.92 on
31.12.2008).

Voluntary takeover bid for free float shares of CA Immo International
AG CA Immobilien Anlagen AG has announced its intention to offer a
voluntary takeover bid to the free float shareholders of CA Immo
International AG. The offer price will be EUR 6.50 in cash,
equivalent to a premium of 22.6 % on today´s closing price. The
maximum transaction volume will be around EUR 104 m. At present, CA
Immobilien Anlagen AG has a 63.05 % stake in CA Immo International AG
(directly and indirectly); after the offer, it intends to acquire
full control over the takeover target by means of a squeeze out or
merger. The bid will not be dependent on securing a minimum
acceptance threshold. The bidding document, containing further
details and provisions, is expected to be published in calendar week
16 of 2010, subject to approval by the Austrian Takeover Commission.
Dr. Bruno Ettenauer, Chief Executive Officer of CA Immobilien Anlagen
AG, says that, "The plan to increase our share in CA Immo
International AG with the aim of an eventual de-listing will
streamline the Group structure and improve the flexibility of capital
allocation in the CA Immo Group. Because of developments on property
markets in Eastern and South Eastern Europe over the past two years,
CA Immo International AG has not been able to live up to the
expectations raised at the time of the IPO in fall 2006. The share in
particular has been affected by reduced liquidity on the stock
market. For this reason, we are now offering a fair exit opportunity
(measured against the current share price) to free float shareholders
of CA Immo International AG with a cash offer of EUR 6.50 per share."

The 2009 financial report for CA Immobilien Anlagen AG has been
published on the web site www.caimmoag.com.

Key financial figures

|in EUR mn |2009 |2008 |chang|Q4 |Q4 | |
| | | |e |2009 |2008 | |
|Rental Income |177.0 |175.3 |1.0% |42.7 |45.8 | |
|Net operating Income |164.0 |159.2 |3.1% |45.8 |54.8 | |
|Result f. sale of inv. |9.2 |11.7 |-21.5|-3.9 |0.6 | |
|properties | | |% | | | |
|Indirect expenditures |-51.7 |-52.2 |-0.9%|-18.5 |-14.4 | |
|Capitalised services |12.1 |6.4 |91.3%|3.3 |-1.8 | |
|Other operating income |8.3 |12.7 |-35.1|-0.5 |6.6 | |
| | | |% | | | |
|EBITDA |141.9 |137.8 |3.0% |26.1 |45.8 | |
|Depreciation and |-10.4 |-112.3|n.a. |-3.9 |-108.6| |
|amortisation | | | | | | |
|Result from revaluation |-129.1 |-178.1|-27.5|-13.8 |-171.8| |
| | | |% | | | |
|EBIT |3.0 |-152.6|n.a. |9.1 |-234.6| |
|Financing cost |-108.4 |-105.1|3.2% |-28.1 |-27.6 | |
|Other Financial Result |-29.1 |-37.7 |-22.8|5.6 |-43.1 | |
| | | |% | | | |
|EBT |-134.5 |-295.4|n.a. |-13.4 |-305.3| |
|Taxes on income |-0.2 |0.5 |n.a. |5.7 |11.1 | |
|Minorities |-57.8 |-57.8 |n.a. |-9.2 |-59.4 | |
|Net Income (after |-76.9 |-237.1|n.a. |1.4 |-234.9| |
|minorities) | | | | | | |
|Earning per share (in EUR) |-0.89 |-2.73 | | | | |
| | | | | | | |
|Operative Cash-flow |120.5 |114.6 |5.1% | | | |
| | | | | | | |
| | | | | | | |
| | | | |
| |31.12.20|31.12.|chang|
| |09 |2008 |e |
|Property assets |3,515.8 |3,788.|-7.2%|
| | |3 | |
|Total assets |4,310.7 |4,394.|-1.9%|
| | |8 | |
|L.t. financial liabilities|1,852.2 |1,834.|0.9% |
|(incl. bonds) | |9 | |
|S.t. financial liabilities|124.3 |88.9 |39.9%|
|Cash and cash equivalents |504.1 |332.6 |51.6%|
|Equity |1,729.2 |1,854.|-6.8%|
| | |7 | |
|Equity ratio |40.1% |42.2% | -2.1|
| | | |pp |
|NAV per share (in EUR) |17.87 |18.92 |-5.5%|
|NNNAV per share (in EUR) |18.47 |20.5 |-9.9%|

end of announcement euro adhoc
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ots Originaltext: CA Immobilien Anlagen AG
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:

CA Immobilien Anlagen AG

Investor Relations

Florian Nowotny

Claudia Hainz

Tel.: +43/1/532 59 07-593

eMail: ir@caimmoag.com

www.caimmoag.com

Branche: Real Estate
ISIN: AT0000641352
WKN: 064135
Index: IATX
Börsen: Wien / official market