Deutsche Wohnen SE — Earnings Release 2006

Feb 15, 2007

News Details

Corporate | 15 February 2007 07:36

Deutsche Wohnen: Results 2006 and new Net Asset Value

Deutsche Wohnen AG / Final Results/Miscellaneous

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The issuer is solely responsible for the content of this announcement.

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Today, on February 15, 2007 Deutsche Wohnen publishes preliminary key
figures 2006. For the Deutsche Wohnen Group, 2006 consisted of two short
fiscal years (as at June 30 and as at December 31, 2006). In spite of that
the statements made below relate to the 12-months period from January 1 to
December 31, 2006, i.e. including the first short fiscal year
January 1 to June 30, 2006. This allows comparisons to be made with the
financial year 2005.

Essential information regarding the 12-months-period 2006 are as follows:

* Profit before and after tax with EUR 31.3 million and EUR 31.1 million
respectively, representing a clear year-on-year rise (84% and 94%
respectively). Profit before and after tax did obviously benefit by EUR
8.8 million (one-off effect) from the consolidation of the closed property
fund DB 14.

* Also EBIT up approximately 17% year-on-year at EUR 46.2 million; EBITDA
up approximately 20% at EUR 68.0 million as against 2005. EBIT and EBITDA
did not consider the mentioned one-off effect due to DB 14.

* With EUR 30.3 million segment result of housing privatization improved
substantially year-on-year (up 21% as against 2005). Number of balanced
privatizations with 1,645 up by approximately 40% (average sales price core
portfolio: EUR 1,027 per m²).

* At 45.4 million, residential property management gained a 2% lowered
segment result as against 2005, this on basis of 4% lowered actual rental
income (due to housing privatization).

As at December 31, 2006 Deutsche Wohnen revaluated the Fair Value and the
Net Asset Value. The Fair Value amounted to approximately EUR 1.3 billion
(EUR 873 per m²) and came up 12% as against end of December 2005, this
despite a higher discounting rate of 4.98% (4.74% in last years
calculation).

Under consideration of further assets and increased liabilities (due to DB
14-consolidation) the Net Asset value amounted to EUR 726 million
respectively EUR 36.29 per share (December 31, 2005: EUR 37.86 per share).

The mentioned issues will be explained within todays analyst and press
conference taking place in the Frankfurt Airport Club (2.00 pm CET;
conference in German language). In addition the Management Board of
Deutsche Wohnen will report about the acquisition strategy of the company.

A livestream of todays conference call (5.00 pm CET; English language) will
be available in the internet (http://www.deutsche-wohnen.de).

Hubert Bonn
Head of Investor & Public Relations
Phone: +49 6131 6397 116
email: hubert.bonn@deuwo.com

DGAP 15.02.2007

Language: English
Issuer: Deutsche Wohnen AG
Pfaffenwiese 300
65929 Frankfurt am Main Deutschland
Phone: +49 (0)6131-6397-116
Fax: +49 (0)6131-6397-199
E-mail: hubert.bonn@deuwo.com
WWW: www.deutsche-wohnen.de
ISIN: DE000A0HN5C6, DE0006283302
WKN: A0HN5C, 628330
Indices: SDAX
Listed: Amtlicher Markt in Frankfurt (Prime Standard); Freiverkehr in
Stuttgart, Düsseldorf

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