PATRIZIA AG

Earnings Release • Nov 9, 2010

News Details

Ad-hoc | 9 November 2010 19:19

PATRIZIA Immobilien AG: PATRIZIA raises forecast for 2010

PATRIZIA Immobilien AG / Key word(s): Change in Forecast/Quarter Results

09.11.2010 19:19

Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.

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Ad hoc disclosure in line with Article 15 of the WpHG -

PATRIZIA raises forecast for 2010

• Third quarter of 2010 closes with operating earnings of EUR 3.1
  million; EUR 8.2 million after nine months of 2010

• With 985 units sold, sales recorded in 2009 as a whole were exceeded by
  4 %

• Revised forecast: operating earnings of EUR 12-13 million (previously
  EUR 10 million)

Augsburg, November 9, 2010. In the third quarter of 2010, PATRIZIA
Immobilien AG (ISIN DE000PAT1AG3) continued the strong development it
enjoyed in the first half of the year: Cumulative revenues for 2010 to date
increased by 43.0 % year-on-year to EUR 221.2 million (previous year: EUR
154.7 million). EBIT for the first nine months of 2010 amounted to EUR 44.7
million, up 19.4 % year-on-year (previous year: EUR 38.1 million).
Operating earnings (EBT adjusted) improved by EUR 11 million up to EUR 8.2
million (previous year: EUR -2.8 million). This was primarily attributable
to the positive business performance in the Residential Property Resale
segment: sales figures increased to 245 units in the third quarter of 2010
(+13.4 %; third quarter of 2009: 216 units). With 605 units sold in the
first three quarters, the segment has already achieved 92 % of the sales
recorded in 2009 as a whole (657 units). Block sales exceeded the
prior-year figure by 31 %, with a total of 380 units sold in the first nine
months (2009: 289 units). All in all, 985 units were sold by way of
residential property resale and block sale in the first three quarters of
2010, 4 % more than in the whole of 2009 (946 units).

The Management Board is taking this positive development as an opportunity
to raise its forecast for 2010. It is now forecasting operating earnings
(EBT adjusted) for fiscal 2010 of between EUR 12 million and EUR 13 million
(previously EUR 10 million).

This increase is due to the notarized transactions that will be recognized
in income in the fourth quarter. Three development projects will be handed
over to their new owners by the end of the year. In addition, a further 281
units have been notarized as part of block sales, the sales proceeds from
which will also be recognized in the fourth quarter. In the Residential
Property Resale segment, sales figures in the region of those generated in
both the first and second quarters of 2010 - i.e. around 180 units - should
be achievable.

The complete interim report for the third quarter of 2010 can be found at
http://www.patrizia.ag/en/investor_relations/reports/quarterly_reports.htm
l.

The Managing Board

Augsburg, November 9, 2010

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
Fax: +49 (0) 821 5 09 10-399
investor.relations@patrizia.ag

Press
Andreas Menke
Tel.: +49 (0) 821 5 09 10-655
Fax: +49 (0) 821 5 09 10-695
presse@patrizia.ag

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Language: English
Company: PATRIZIA Immobilien AG
Fuggerstraße 26
86150 Augsburg
Deutschland
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
Indices: SDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Hamburg, München, Düsseldorf, Berlin, Stuttgart, Hannover

End of Announcement DGAP News-Service

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