CPI Europe AG — Earnings Release 2007

Dec 27, 2007

News Details

Corporate | 27 December 2007 07:29

IMMOFINANZ AG: IMMOFINANZ – record result in the first half of the 2007/2008 business year

IMMOFINANZ AG / Half Year Results

Release of a Corporate News, transmitted by DGAP - a company of EquityStory
AG.
The issuer / publisher is solely responsible for the content of this announcement.

---

IMMOFINANZ AG announces results for the first half of 2007/08

IMMOFINANZ - record result in the first half of the 2007/2008 business year

• Earnings before tax (EBT) EUR 427.5 million (+46.9%)

• Operating profit (EBIT) EUR 440.2 million (+46.1%)

• Revenues: EUR 318.8 million (+33.2 %)

• Net asset value (NAV) per share EUR 11.32 (17.3%)

IMMOFINANZ had record profit in the first half (May 1 to October 31) of the
current business year and continued its dynamic business development.

EBT rose by 46.9%
Earnings before tax (EBT) rose by 46.9% on the year from EUR 291.0 million
to EUR 427.5 million. EBIT rose 46.1% from EUR 301.4 million to EUR 440.2
million.

Revenues rise by 33.2%
Revenues rise by 33.2% from EUR 239.3 million to EUR 318.8 million, despite
an increase in the proportion of IMMOEAST’s development projects that only
provide cash inflow upon completion

Net asset value per share rises 17.3%
NAV per share was EUR 11.32 as of October 31, 2007, an increase of 17.3% on
the year. Book value per share, which, in contrast to NAV, does not include
the potential increase in value of development projects, rose by 12.3% to
EUR 9.15. The share price, currently at EUR 6.76, does not reflect that
upward trend.

Real estate assets increase to EUR 17.8 billion
IMMOFINANZ's real estate portfolio rose by 67.7% year-on-year from EUR 10.6
billion to EUR 17.8 billion. The number of properties increased by 26.7%
from 2,324 to 2,944. Lettable space increased by 39.5% from 9.0 million
square meters to 12.5 million square meters.

Increase in like-for-like rental income by 4.7%
Rents developed very positively, increasing throughout the markets that are
particularly important to IMMOFINANZ. Especially for Vienna, the company’s
home market, and for the markets in the East. Rental income rose
year-on-year from EUR 174.4 million to EUR 233.8 million. The increase is
due to active portfolio management, which will become more and more
important in the future, as well as indexation of rents and new rentals.
Adjusted for new additions to the real estate portfolio ('like-for-like'),
the increase in rental income was 4.7%.

IMMOFINANZ increases its stake in IMMOEAST to 53.24%
IMMOFINANZ increased its interest in IMMOEAST during the reporting period
from 50.46% to 53.24% through purchases of shares on the stock
exchange.

Margit Hermentin
Investor Relations
+43 1 532 06 39 - 719
investor@immofinanz.com

27.12.2007 Financial News transmitted by DGAP

Language: English
Issuer: IMMOFINANZ AG
Bankgasse 2
A-1010 Wien
Österreich
Phone: 0043 /1/ 536 16 - 461
Fax: 0043 /1/ 536 16 - 491
E-mail: investor@immfinanz.com
Internet: http://www.immofinanz.com
ISIN: AT0000809058
WKN: 911064
Listed: Freiverkehr in Berlin, München, Stuttgart; Open Market in
Frankfurt; Foreign Exchange(s) Wien

End of News DGAP News-Service

---