IMMOEAST AG - Revenues more than doubled in first half year of 2006/07
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Wien (euro adhoc) - 14.12.2006
IMMOEAST AG - Revenues more than doubled in first half year of 2006/07
. EBIT increases by 138.1% to 112.6 million Euro . Real estate assets already total 6.47 billion Euro . 90% of 2006/07 investment programme totalling 5 billion Euro already realised
IMMOEAST achieved outstanding results in the first half year (May 1 to October 31, 2006) of 2006/07. Operating profit (EBIT) rose by 138.1% to 112.6 million Euro compared to the same period in the previous year. Earnings before tax climbed to 134.8 million Euro (plus 103.6%). Revenues nearly tripled with an increase of 186.5% from 27.4 million Euro to 78.5 million Euro. Equity rose by 195.5% to 4.44 billion Euro, particularly due to the capital increase for 2.75 billion Euro in June 2006.
Growth in real estate assets was equally strong. The number of properties rose by 174.2% to 244. Useable space nearly tripled to 3.35 million m². The equity ratio fell to 76.6% as of the end of October due to the strong development in real estate assets and thereby neared its target of 55%. By the end of the business year on April 30, 2007 this target will be achieved as a result of further investments.
In the first half year of 2006/07, extensive investments were carried out which are either already reflected in the balance sheet or committed in the form of forward purchases, development projects or the acquisition of shareholdings in joint ventures. Including committed investments, real estate assets rose by 357.3% to 5.30 billion Euro. After the reporting period, real estate assets increased as a result of further investments in the amount of 1.17 billion Euro to the current 6.47 billion Euro. An average of approx. 650 million Euro was invested per month. Karl Petrikovics, CEO, announced that the target of accumulating 7 billion Euro in real estate assets by the end of the business year is likely to be met or exceeded.
INVESTOR RELATIONS INFORMATION
. PRESS RELEASE available at 10:00 a.m. CET:
http://www.immoeast.at/english/05news/press.htm
. REPORT ON THE FIRST HALF YEAR as of 31 October 2006:
http://www.immoeast.at/english/02ir/berichte.htm
end of announcement euro adhoc 14.12.2006 07:30:00 --------------------------------------------------------------------------------
ots Originaltext: Immoeast Immobilien Anlagen AG Im Internet recherchierbar: http://www.presseportal.de
Further inquiry note: MMag. Dr. Karl Petrikovics Vorstandsvorsitzender der IMMOEAST AG Tel.: +43 1 536 16-400 mailto:investor@constantia.at
Branche: Real Estate ISIN: AT0000642806 WKN: A0BLUL Index: ATX Prime Börsen: Wiener Börse AG / official market
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