PATRIZIA AG

Earnings Release • Jan 11, 2012

News Details

Corporate | 11 January 2012 07:26

PATRIZIA Immobilien AG: 2011: PATRIZIA outstrips last year’s sales figures and confirms results forecast

PATRIZIA Immobilien AG / Key word(s): Disposal/Forecast

11.01.2012 / 07:26

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2011: PATRIZIA outstrips last year's sales figures and confirms results forecast

– Block sales of 836 units achieved in the 4 th quarter

– Total block sales of 1,097 units in 2011

– 745 apartments privatized, including 222 units in the 4 th quarter of 2011

Augsburg, January 11, 2012. In the 2011 fiscal year, PATRIZIA Immobilien AG (ISIN DE000PAT1AG3) outperformed its sales forecasts. A total of 1,842 residential and commercial units were sold, representing an increase of 2.2% on 2010 (1,803 units).

In 2011, 745 residential and commercial units were privatized, including 222 in the 4 th quarter alone. In the 4 th quarter, the average sales price per square meter achieved for individual units was EUR 2,399, while the figure for the year as a whole was EUR 2,360 / sqm. Last year's high level was thus maintained (previous year: EUR 2,370). As a result of additional residential units being released for sale in 2011, the proportion of tenants among purchasers increased: 14% of apartments went to tenants, 25% to owner-occupiers and 61% to private investors.

The 4 th quarter of 2011 saw additional block sales totaling 836 residential and commercial units. For the year as a whole, this produced 1,097 units in global sales, meaning block sales also met our forecast of at least 1,000 units sold. The average sales price per square meter of EUR 1,679 was 3.3% up on the previous year (2010: EUR 1,625 / sqm).

In addition, deeds were signed for a residential building with 17 units in Leipzig in the 4 th quarter (EUR 1.3 million). We are expecting to receive the purchase price from this in the 1 st quarter of 2012.

In the past fiscal year PATRIZIA thus sold 1,842 units to private and institutional investors (2010: 1,803 units, +2.2%). Looking at both sales channels, the average sales price per square meter of EUR 1,995 (2010: EUR 1,951 / sqm) marked a further year-on-year increase. The price level is based on the regional composition of the properties sold and on the overall rising price level.

The sales achieved formed an element of our forecast for 2011 for an operating profit of EUR 16-17 million, which we are able to confirm again here. A large part of cash inflows was used to repay bank loans, which in the 4 th quarter of 2011 fell by around EUR 95 million from EUR 785 million to around EUR 690 million. During the year bank liabilities fell by around EUR 151 million, or 18%.

The Managing Board

Augsburg, January 11, 2012

PATRIZIA Immobilien AG

PATRIZIA Bürohaus

Fuggerstrasse 26

86150 Augsburg

Germany

Listing: Frankfurt Official Market (Prime Standard)

ISIN: DE000PAT1AG3

SIN: PAT1AG

Contact

Investor Relations

Margit Miller

Tel: +49 (0) 821 5 09 10-369

investor.relations@patrizia.ag

Press

Andreas Menke

Tel: +49 (0) 821 5 09 10-655

presse@patrizia.ag

End of Corporate News

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Language:	English
Company:	PATRIZIA Immobilien AG
	Fuggerstraße 26
	86150 Augsburg
	Germany
Phone:	+49 (0)821 – 509 10-000
Fax:	+49 (0)821 – 509 10-999
E-mail:	investor.relations@patrizia.ag
Internet:	www.patrizia.ag
ISIN:	DE000PAT1AG3
WKN:	PAT1AG
Listed:	Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover, München, Stuttgart

End of News	DGAP News-Service

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