CPI Europe AG — Earnings Release 2007

Mar 30, 2007

News Details

Corporate | 30 March 2007 07:30

IMMOFINANZ Shows Strong Increase in Profits in Third Quarter of 2006/07

IMMOFINANZ AG / Quarter Results

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

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IMMOFINANZ Shows Strong Increase in Profits in Third Quarter of 2006/07

• Operating profit (EBIT) climbs by 49.7 percent to 464.5 million euro
• At 13.3 billion euro, real estate assets more than double
• Revenues to reach 600 million euro in overall business year

IMMOFINANZ AG generated an outstanding result again in the third quarter of
the current business year (May 1, 2006 to April 30, 2007). The profit
situation further improved, while the company successfully maintained its
high growth rates of previous periods.

The operating profit (EBIT) rose by 49.7 percent to 464.5 million euro in
the first three quarters of the current fiscal year compared to the first
three quarters of the 2005/06 fiscal year. Earnings before tax (EBT) rose
by 44.1 percent to 447.9 million euro. Gross cash flow improved by 51.7
percent to 139.4 million euro. The net asset value per share also increased
29.4 percent to 11.53 euro, partly due to the solid performance of
IMMOEAST’s share price. At 375.3 million euro, revenues achieved an
increase of 32.2 percent. Chairman Petrikovics expects that revenues will
reach 600 million euro for the overall business year, thereby achieving
growth of 50 percent compared to the 2005/06 business year.

The growth of the real estate portfolio was even more substantial, with
fair value reaching 13.3 billion euro at the end of the third quarter, up
from 6.5 billion euro (+104.2 percent). As a result of several large-scale
acquisitions carried out after the reporting date in the period between
February 1 and March 15, this figure has risen further to what is currently
14.43 billion euro. The number of properties rose by 31.7 percent to 2442
(previous year: 1854). Usable space rose by 59.7 percent to 9.93 million
m².

Growth occurred almost exclusively in foreign markets, while on the
domestic market in Austria only smaller investments were made. Within nine
months the listed subsidiary IMMOEAST invested five billion euro in CEE,
thereby further expanding its position as the region’s leading real estate
investor. In the west the focus was clearly on Germany. At IMMOWEST as well
as IMMOEAST, the share of investments in development projects was further
expanded. These have taken place in full cooperation with leading local
partners. One prominent example of this is the multifunctional
'Gerling-Zentrale' urban development project in Cologne’s city centre with
a project volume of 380 million euro.

The performance of the IMMOFINANZ share was just as satisfactory as the
performance of the company itself. With an annual performance of 37.4
percent, on the reporting date of January 31, 2007 a new record was
reached, making IMMOFINANZ by far the most successful real estate share on
the Vienna Stock Exchange. Despite strong growth, the share price was only
marginally above the net asset value per share.

The high degree of respect IMMOFINANZ has encountered on the international
financial markets was highlighted by the issue of a convertible bond for
institutional investors in January 2007. Despite the high volume of 750
million euro, the bond was considerably oversubscribed and the subscription
deadline closed ahead of schedule.

INVESTOR RELATIONS INFORMATION

PRESS RELEASE available at 07:30 a.m. CET:

        http://www.immofinanz.com/05news/press.htm

REPORT ON 3rd Quarter Results as of 31 January 2007:

        http://www.immofinanz.com/02ir/berichte.htm

DGAP 30.03.2007

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: s.degethof@immofinanz.com
www: http://www.immofinanz.com
ISIN: AT0000809058
WKN: 911064
Indices:
Listed: Amtlicher Markt in Wien; Freiverkehr in Berlin-Bremen,
München, Stuttgart; Open Market in Frankfurt

End of News DGAP News-Service

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