Peach Property Group AG — Earnings Release 2010

Mar 8, 2011

News Details

Ad-hoc | 8 March 2011 07:00

Peach Property Group Ltd releases provisional key figures from 2010 annual results

Peach Property Group AG / Key word(s): Preliminary Results

08.03.2011 07:00

Release of an ad hoc announcement pursuant to Art. 72 KR

Media release

Peach Property Group Ltd releases provisional key figures from 2010 annual
results

• Consolidated net income amounts to CHF 82.1 million

• Annual result: CHF 18.0 million; EBIT: CHF 21.3 million

• Sales successes in Berlin, Hamburg and Wädenswil (Zurich)

• Building begins on Hamburg 'Harvestehuder Weg 36' project

Zurich, 8 March 2011 - Listed on the SIX Swiss Exchange since 12 November
2010, Peach Property Group Ltd today released key figures from its annual
results for 2010. The provisional figures show that Peach Property Group
Ltd expects a post-tax annual result of CHF 18.0 million for 2010. This
means Group results have remained positive in the second half of 2010,
despite the negative impact of foreign currency exchange. Net income for
financial year 2010 stands at CHF 82.1 million. Operating earnings (EBIT)
amounted to CHF 21.3 million. At the end of 2010, Group equity stood at CHF
112 million, representing an equity ratio of 53%.

Good sales performance at all sites
Peach Property Group drove sales forward at a high level at all sites.
Sales have proved pleasing for the Group's Berlin projects 'yoo berlin' and
'Living 106', and also for 'Harvestehuder Weg 36' in Hamburg and 'Peninsula
Beach House' in Wädenswil, Zurich.

• The proportion sold at the 'yoo berlin' project (sales completed or
  reserved) has risen from 25% at the time of the stock market flotation
  to 36% today. At 'yoo berlin' Peach Property Group, in cooperation with
  designer Philippe Starck, is building 87 residential units in a unique
  location on the River Spree, in Berlin Mitte. The development includes
  penthouses, town houses and suites under the label 'yoo inspired by
  Starck'. Target overall sales volume is EUR 83 million (CHF 108
  million).

• The project 'Living 106', featuring 76 exclusive freehold and serviced
  apartments on Berlin's centrally located Chausseestrasse was completed
  to time and within budget. 90% of these apartments have been sold, and
  the project, whose sales volume exceeded CHF 27 million, is nearing its
  successful close.

• Sales figures for the 'Harvestehuder Weg 36' project, in Hamburg's
  high-class district on the Aussenalster, are in line with Peach
  Property's successful expansion in Germany. In February, sales of the
  'Alsterkamp 43' development section passed the 50% mark, allowing
  building to commence now. Target total sales volume is EUR 85 million
  (CHF 110 million).

• Target sales volume for the Zurich 'Peninsula Beach House' project in
  Wädenswil exceeds CHF 90 million. To date, sales of 12 of the 23
  apartments have been reserved or closed. Thus the total proportion sold
  stands at 52%. A Beach House show apartment opens in mid-March 2011,
  based on the luxurious penthouse apartments. Thus customers can get a
  feel for life on the shores of Lake Zurich amid parkland landscaped by
  Enzo Enea, of Enea Garden Design.

Dr. Thomas Wolfensberger, CEO of Peach Property Group Ltd, commented, 'We
are delighted at the flourishing sales of our unique residential
developments. The dedication of our sales teams carries the day, and Peach
Property Group Ltd's expansion in Germany, Austria and Switzerland is
forging ahead.'

Peach Property Group Ltd will publish its complete set of annual results on
6 April 2011 and explain them at a conference for analysts and the media.

Contact
For investors and analysts:
Dr. Thomas Wolfensberger, Chief Executive Officer
Bruno Birrer, Chief Operating Officer
Tel.: +41 44 485 50 00
investors@peachestates.com

For the media:
Siro Barino, Barino Consulting
Tel.: +41 79 335 24 24
info@barino.ch

Information on Peach Property Group Ltd
Peach Property Group Ltd is one of the leading developers of luxury
residential property in the German-speaking part of Europe. Activities
cover the entire value chain, from site surveying to construction and
marketing of top-quality properties. Properties developed by Peach Property
Group Ltd are located on exceptional sites in or near city centres and
holiday resorts. Premier amenities meet the requirements of a demanding
clientele.

Peach Property Group Ltd currently employs some 34 highly qualified real
estate and finance specialists at its Zurich head office and at its Cologne
branch. The Group plans and is currently implementing 14 projects with
total target marketing volume of approximately CHF 800 million. Peach
Property Group Ltd has been listed on the SIX Swiss Exchange since 12
November 2010 (PEAN, ISIN CH0118530366).

For further information, please visit www.peachestates.com

08.03.2011 News transmitted by EquityStory AG.
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Language: English
Company: Peach Property Group AG
Seestrasse 346
8038 Zürich
Schweiz
Phone: +41 44 485 50 00
Fax: +41 44 485 50 11
E-mail: investors@peachestates.com
Internet: www.peachestates.com
ISIN: CH0118530366
Swiss Security Number: A1C8PJ
Listed: Freiverkehr in Berlin, Stuttgart; Open Market in Frankfurt;
SIX

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