euro adhoc: ECO Business-Immobilien AG / Financial Figures/Balance Sheet / ECO Business-Immobilien AG with record earnings for the 2006 business year

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02.03.2007

ECO Business-Immobilien AG with record earnings for the 2006 business
year

Vienna, 2 March 2007. ECO Business-Immobilien AG (Vienna Stock
Exchange: ECO, Reuters: EBIV.VI, Bloomberg: ECO AV) successfully
continued its expansions in the 2006 business year. All sales and
earnings figures well exceeded the comparable figures for 2005, thus
resulting in record highs. Earnings from rent rose by 188% to EUR
38.80 m, and operating profit (EBIT) reached a new record of EUR
38.28 m. Property assets were expanded by 109% to EUR 693.33 m within
the space of a year.

During the 2006 business year, ECO raised its earnings from rent from
EUR 13.49 m in 2005 by 188% to EUR 38.80 m, whereby approx. 77% of
this income came from domestic property and 23% from abroad. This
increase resulted from the expansion of the property portfolio by
acquisitions as well as new rentals of empty spaces.

The operating profit (EBIT) was increased by 175% to EUR 38.28 m.
This rather high profit was due largely to the continuous
optimisation of the portfolio and the resulting high rental profit,
profit from sales of properties as well as positive results from the
increase in value of the portfolio deriving from a reassessment by
independent real estate experts (fair-value adjustments according to
IAS 40).

Profits of EUR 6.07 m were realized from new assessment by experts in
2006, corresponding to about 1 % of the property portfolios. Profits
from sales of properties rose from EUR 3.50 m the previous year to
EUR 9.82 m in 2006. Approximately 40% of sales profits came from the
trading portfolio formed in cooperation with conwert Immobilien
Invest AG within the framework of the Allianz package, and
approximately 60% from portfolio optimisation within the long-term
property holdings of the ECO.

Due to the significant expansion of the property portfolio, financial
expenditure increased considerably to EUR 15.3 m Earnings before tax
(EBT) thus rose from EUR 10.41 m to EUR 24.74 m Profit tax
expenditure for 2006 thus amounted EUR 6.55 m, most of which fell
under deferred taxes and only a very small part of which remained
liquid. Company profits (according to minority shares) rose to a
record high of EUR 17.9 mil, an increase of 159% compared to the
previous year.

Over the course of the 2006 business year, ECO expanded the property
portfolio by high-quality, profitable properties. The number of
properties rose from 56 as of 31.12.2005 to 126 (including the
trading portfolio) as of 31.12.2006. In Austria, ECO owned 110
properties (71 of those on the trading portfolio, of which ECO holds
a 50% share), 15 properties in Germany and 1 property in the Czech
Republic. During this period, total usable space expanded from
approx. 266,000 sqm at the end of the year 2005 to 463,000 sqm
currently. Property assets rose to EUR 693.33 m. Compared to the end
of 2005 (EUR 331.3 m) this is an increase of 109%.

Approx. 74% of property assets were located in Austria, where the
property portfolio in the past business year rose from EUR 208.80 m
to EUR 510.88 m In Germany during this period the property portfolio
was expanded from EUR 78.86 m to EUR 178.88 m, not only through sales
but also through portfolio optimisation in which smaller properties
were exchanged for larger, more profitable ones. As of 31.12.2006,
the German share of property assets was 26%. Approximately EUR 4 m
was invested in a property in the Czech Republic.

In the core markets of Austria and Germany and the growing CEE
market, ECO plans to exploit the prevailing favourable conditions for
a further expansion of the property portfolio. Acquisitions will
continue to be centred in Austria and Germany. At the same time, ECO
will aim to attain a significant market position in Central and
Eastern European business real estate markets via its subsidiary ECO
Eastern Europe Real Estate AG. In Eastern Europe, ECO will also focus
on high-yield properties and only invest in real estate with a
balanced risk-return ratio.

Following its growth strategy, ECO should - assuming current
conditions - be able to expand its property portfolio to EUR 1.2 -
1.5 b in 2007, following approx. EUR 700 m around the end of 2006. At
the time of this report, the company is looking to acquire properties
worth over EUR 750 m

The expansion of the company will be reflected in the sales and
earnings figures. The high-quality expansion of the real estate
portfolio should also result in an increase in rental income. As far
as earnings are concerned, the company expects a significant increase
compared to the previous year.

In order to finance this growth, ECO will balance the use of equity
capital and outside capital. Capital measures, such as capital
increases, are thus still as crucial component of the ECO growth
strategy. As long as capital earned can be directly invested in
profitable real estate - which the company assumes - and as long as
conditions on the capital market allow, ECO will continue to exploit
capital in 2007.

Company figures in TEUR

01-12/2006 01-12/2005
Earnings from rentals 38,803 13,488
rental profits 32,129 11,514
Fair value adjustments 6,068 3,044
Sales from property disposals 9,819 3,500
Earnings before interest and tax (EBIT) 38,280 13,903
Financial results -13,541 -3,492
Earnings before tax (EBT) 24,739 10,412
Company profits 18,191 7,546
Company profits (according to minority shares) 17,900 6,914
Earnings per share (EUR) 0.99 0.93
Average number of shares (units) 17,997,115 7,457,692

Figures in TEUR may vary due to rounding differences.

Property figures

31.12.2006 31.12.2005
Number of properties 126 56
in Hold-Portfolio 55 56
in Trading-Portfolio 71 0
Total usable space in sqm * 463,431 266,462
in Trading-Portfolio 57,434 0
Garage spaces 2,339 1,549
in Trading-Portfolio 289 0
Property assets in TEUR 693,331 331,348
in Trading-Portfolio 94,445 0

* Garage spaces shown with a conversion factor of 20sqm /
garage space

end of announcement euro adhoc 02.03.2007 08:02:25
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ots Originaltext: ECO Business-Immobilien AG
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:
ECO Business-Immobilien AG,
KR Friedrich Scheck,
Chairman Management Board,
Tel.: +43(1)535 21 99,
Fax: +43(1)535 21 99-99,
mailto:scheck@eco-immo.at,
http://www.eco-immo.at

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

Branche: Real Estate
ISIN: AT0000617907
WKN: A0D8RY
Index: Standard Market Auction
Börsen: Wiener Börse AG / Regulated free trade


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