029 Group SE

Earnings Release • May 7, 2002

News Details

Ad-hoc | 7 May 2002 10:22

B&L Immobilien AG english

B&L Immobilien AG reports excellent annual results Ad-hoc-announcement processed and transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– B&L Immobilien AG reports excellent annual results Hamburg, May 7, 2002 – B&L Immobilien AG (SIN 765 950) has completed a thoroughly successful fiscal year. The company implemented its announced expansion strategy and systematically extended its range of services. The most outstanding events during the year include the company’s acquisition of shareholdings in LEG Schleswig-Holstein Landesentwicklungsgesellschaft mbH and Heimstätten Gesellschaft mbH Lübeck. The income from these companies, together with a consistently high gross performance of 57.9 million euros, resulted in net income for the past fiscal year of 14.7 million euros. This represents a sevenfold increase in net income over the previous year (2.1 million euros). The result from ordinary activities (14.7 million euros) and consolidated net income (11.9 million euros) achieved similarly high growth rates in comparison to the previous year (4.1 million and 2.2 million euros, respectively). EBDT rose from 6.5 million to 18.8 million euros. The company thus exceeded its announced forecasts. Compared with the previous year, the balance sheet total grew by 36 % to 711.3 million euros. end of ad-hoc-announcement (c)DGAP 07.05.2002 Issuer’s information/explanatory remarks concerning this ad-hoc-announcement: B&L Immobilien AG is listed for official trading on the German stock market. The company’s object is the management, development, acquisition and sale of shopping malls as well as office and residential property. In spring 2001 the company acquired an equity interest in LEG Schleswig-Holstein Landesentwicklungsgesellschaft mbH and in December 2001 in Heimstätten Gesellschaft mbH Lübeck. As a result of these transactions, the number of residential properties under management rose to over 22,000 units Should you require further details, please contact: Dr. Hans Hellberg B&L Immobilien AG Kajen 12 D-20459 Hamburg Tel: +49 (40) 37 660-0 Fax:+49 (40) 37 660-111 contact@bl-ag.de http://www.bl-ag.de ——————————————————————————– WKN: 765950; ISIN: DE0007659500; Index: Listed: Amtlicher Handel in München; Freiverkehr in Berlin 071022 Mai 02