PATRIZIA Immobilien AG / Interim Report/Quarter Results 10.11.2009 Dissemination of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer / publisher is solely responsible for the content of this announcement. --------------------------------------------------------------------------- PATRIZIA Immobilien AG posts clear increase in property resale business and confirms outlook for 2009 - Third quarter of 2009 closes with a return to a positive operating result of EUR 4.4 million - Property resale figures for previous year almost matched after only nine months - Initial two small-scale block sales realized - Positive operating result also confirmed for the year as a whole Augsburg, November 10, 2009. After nine months, PATRIZIA Immobilien AG (ISIN DE000PAT1AG3) has almost matched the property resale figures of the previous year with 473 sold apartments (2008: 476 units).Of these, 216 units alone were sold in the third quarter of 2009 - an increase of 47 % compared with the second quarter of the current fiscal year. Two initial small-scale block sales of 33 and 36 units confirm our confidence that the transaction business with institutional investors will improve to the end of the year. Higher sales figures also increased revenues from EUR 41.4 million in the third quarter of 2008 to a current EUR 62.1 million. Both rents at an average EUR 7.75/sqm, as well as sales prices at EUR 2,341/sqm, remain stable at a high level. Revenues for the first nine months amount to EUR 154.7 million (+10.7 %). Lower block sales (Q3 2008: 357 units) are only noticeable in the key income figures, as the sale of investment property in the previous year was not included in revenues but as income from the sale of investment property in the Group's total operating performance. Alongside this, the Services segment showed very encouraging growth with a revenue contribution of around 5 %, and confirms our strategy of successively further expanding this segment. In the third quarter, PATRIZIA achieved a slightly positive IFRS pre-tax result of EUR 0.1 million. However, it must be taken into account that the fair value measurement of the interest rate hedging instruments negatively impacted the profit by EUR 4.3 million. Adjusted for this effect not impacting liquidity, EBT (adjusted) of EUR 4.4 million resulted for Q3 2009 - the first positive operating three-month result in the current fiscal year. However, this profit cannot fully compensate for the operating losses of the first two quarters totaling EUR -7.2 million, meaning that viewed over the first nine months of 2009, pre-tax profit remains negative at an adjusted EUR -2.8 million. We expect that the earnings contribution of the last quarter of 2009 will cover the outstanding loss, and we therefore continue to anticipate a positive operating result for 2009 as a whole. The fair value measurement of interest rate hedges not impacting liquidity was recorded at a total of EUR -12.6 million in the first three quarters of 2009. After taking taxes into account, this results in a net loss in accordance with IFRS for the period from January to September of EUR -16.0 million, and for Q3 2009 of EUR -2.2 million. In the course of sell-offs, we increased the repayment of our loan. Since the end of 2008, we lowered the level of bank loans by EUR 78.8 million, or 6.8 %, to EUR 1,083 million. We want to increase the Group's equity ratio, unchanged at 19.2 % in the third quarter 2009, to at least 25 %. The complete interim report for the third quarter of 2009 can be found at www.patrizia.ag. Management Board Augsburg (Germany), November 10, 2009 PATRIZIA Immobilien AG PATRIZIA Bürohaus Fuggerstrasse 26 86150 Augsburg Germany Listing: Frankfurt Official Market (Prime Standard) ISIN: DE000PAT1AG3 SIN: PAT1AG Contact Investor Relations Claudia Kellert Tel: +49 / 821 / 5 09 10-3 60 Fax: +49 / 821 / 5 09 10-3 99 investor.relations@patrizia.ag Press Andreas Menke Tel: +49 / 821 / 5 09 10-6 55 Fax: +49 / 821 / 5 09 10-6 95 presse@patrizia.ag 10.11.2009 Financial News distributed by DGAP. Medienarchiv at |[![CDATA[|[a href="http://www.dgap-medientreff.de"|]www.dgap-medientreff.de|[/a|]]]|] and |[![CDATA[|[a href="http://www.dgap.de"|]www.dgap.de|[/a|]]]|] --------------------------------------------------------------------------- Language: English Company: PATRIZIA Immobilien AG FuggerstraÃe 26 86150 Augsburg Deutschland Phone: +49 (0)821 - 509 10-000 Fax: +49 (0)821 - 509 10-999 E-mail: investor.relations@patrizia.ag Internet: www.patrizia.ag ISIN: DE000PAT1AG3 WKN: PAT1AG Indices: SDAX Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, München, Hannover, Düsseldorf, Stuttgart, Hamburg End of News DGAP News-Service ---------------------------------------------------------------------------
DGAP-News: PATRIZIA Immobilien AG: PATRIZIA posts clear increase in property resale business and confirms outlook for 2009
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