Earnings Release • Sep 23, 2009
Earnings Release
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Corporate | 23 September 2009 14:21
InCity Immobilien AG confirms preliminary figures for the first half of 2009
InCity Immobilien AG / Half Year Results
23.09.2009
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The issuer / publisher is solely responsible for the content of this announcement.
InCity Immobilien AG confirms preliminary figures for the first half of
2009
Cologne, 23 September 2009 - InCity Immobilien AG, a group of companies
specialised in the planning and realisation of high-quality properties in
central urban locations, has today presented its six-monthly report 2009
and confirms the preliminary financial figures published on 10 September.
In the first six months of this year, InCity Group generated record
earnings due to an untaxed one-off effect resulting from the integration of
informica real invest AG. The operating result (EBIT) improved to around
14.7 million EUR in the first half of 2009, which represents an increase of
around 165% year-on-year (5.6 million EUR). After interest and taxes, net
profit for the period before minority interests amounted to around 12.1
million EUR (2.9 million EUR). As part of the informica integration,
planned partial sales mainly from the portfolio were postponed for the time
being, and as a result InCity Group sales for the first half of 2009 came
in at 26.1 million EUR. This figure was down on the 33.6 million EUR from
the same period in the previous year. At 170.5 million EUR, the group's
total assets as of 30 June 2009 were considerably higher than the year-end
figure of 93.5 million EUR. Liquid funds totalled 16.6 million EUR on the
reporting date of 30 June 2009. After paying out a dividend of 875,000 EUR,
equity came in at 34.7 million EUR due to the integration of informica and
the positive earnings development, and was considerably above the 2008
year-end figure of 14.8 million EUR. The equity ratio increased to 20.4%.
For 2009 as a whole, the Managing Board is expecting a considerable
increase in the operating result as well as a significant improvement in
annual net profit compared to the previous year. The company currently has
a project volume of 258.5 million EUR. Contributions to the operating
result from the informica takeover are expected from the financial year
2010 onwards.
As of today, the half-year report 2009 of InCity Immobilien AG is available
in German language on the company's website at www.incity.ag.
About InCity Immobilien AG:
InCity Immobilien AG specialises in the planning and realisation of
high-quality property in inner city locations. The company develops and
markets both residential and retail properties using its inhouse
expertise to minimise project running time and to deliver high value added
in the process. InCity pools the experience accumulated through about 250
high-quality heritage building redevelopment and new building projects for
discerning self-users and investors. The company creates exclusive,
high-value space tailored to customers' needs in top locations of German
metropolitan areas. InCity underlines its corporate responsibility towards
society and the environment through participation in the UN Global Compact,
the international initiative of the United Nations for the promotion of
social and environmental principles. Further information: www.incity.ag
InCity Immobilien AG
André Peto
Phone: +49 (0) 221 95 27 57 55
[email protected]
Investor Relations
Dariusch Manssuri
Phone: +49 (0) 221 91 40 970
[email protected]
23.09.2009 Financial News transmitted by DGAP
Language: English
Company: InCity Immobilien AG
Mozartstr. 1
50674 Köln
Deutschland
Phone: +49 (0)221 952757-55
Fax: +49 (0) 221 95 27 57 57
E-mail: [email protected]
Internet: www.incity.ag
ISIN: DE000A0HNF96
WKN: A0HNF9
Listed: Freiverkehr in Berlin, Düsseldorf, Stuttgart; Entry Standard
in Frankfurt
End of News DGAP News-Service
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