Ernst Russ AG

Earnings Release • Mar 8, 2012

News Details

Ad-hoc | 8 March 2012 15:16

HCI Capital AG: Preliminary consolidated result for 2011

HCI Capital AG / Key word(s): Preliminary Results

08.03.2012 15:16

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HCI Capital AG generated an overall negative consolidated net result after
tax in the 2011 financial year as a result of significant non-recurring
effects in the third and fourth quarters. Based on preliminary figures,
this value is expected to be around EUR -15.0 million. The operating result
before non-recurring effects on the other hand will be approximately at
break-even for 2011. Due to the generally weak development of the market
impairments had to be recognised on investments and receivables, totalling
over EUR 10 million for 2011. Of this, around EUR 5 million was
attributable to the fourth quarter. In addition, the revenues from the
placement of the HCI Berlin Airport Center fund in 2011 amounting to EUR
4.1 million cannot be recognised until the 2012 consolidated financial
statements as the fund was not fully placed until January 2012.

The HCI Group has already reacted to changing market conditions, having
introduced comprehensive cost savings in 2011. It aims to generate a
reduction of personnel and other operating expenses of around EUR 10
million for the 2012 financial year.

As at 31 December 2011, cash and cash equivalents totalled EUR 21.0
million. The equity ratio as at the balance sheet date is expected to be
around 43%.

HCI Capital AG will publish its final figures and the 2011 Annual Report on
26 March 2012.

Contact:
HCI Capital AG
Dr. Olaf Streuer
Head of Corporate Communication / Business Development
Tel: +49 40 88 88 1 1100
olaf.streuer@hci-capital.de

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Language: English
Company: HCI Capital AG
Burchardstraße 8
20095 Hamburg
Germany
Phone: +49 (0)40 88881-0
Fax: +49 (0)40 88881-199
E-mail: ir@hci-capital.de
Internet: www.hci-capital.de
ISIN: DE000A0D9Y97, DE000A1EWVW2
WKN: A0D9Y9, A1E WVW
Listed: Regulierter Markt in Frankfurt (Prime Standard), Hamburg;
Freiverkehr in Berlin, Düsseldorf, Hannover, München,
Stuttgart

End of Announcement DGAP News-Service

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