euro adhoc: quarterly or semiannual financial statement
CA Immo ANLAGEN AG:
result for first quarter of 2008
. Positive operational trend: rental income up 43%, EBITDA up 40%
. Reduction of consolidated net income after minorities to EUR ...
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
quaterly report
30.05.2008
Operational business developed positively during the first quarter of 2008: Rental income increased by 43%, from EUR30.1 million to EUR43.1 million, of which Vivico accounted for around 23%. The EBITDA rose by 40%, from EUR28.2 million to EUR39.5 million. However, as a result of broadly stable real estate yields, the contribution of revaluation to the result fell from EUR16.2 million to EUR1.9 million, leading to a reduction in operating result (EBIT) by 8%, from EUR43.9 million to EUR40.3 million. The increased financing volume following the acquisition of Vivico was also responsible for significantly higher financing costs of -EUR29.7 million (compared to -EUR13.3 million in the first quarter of 2007), as a result of which the consolidated net income after minorities decreased to EUR3.2 million (compared to EUR19.7 million). As a result of the first time inclusion of Vivico´s EUR1.3 billion portfolio, the property assets of the CA Immo Group expanded by 52% to EUR3.8 billion. The NNNAV per share increased from EUR22.51 as of 31 December 2007 to EUR23.04 at the end of the first quarter 2008, equivalent to a rise of 2.4%. The increase was mainly due to the initial consolidation of Vivico. CA Immo aims to pay its first dividend for the year 2008, amounting to approximately 2% of average net asset value of the previous year.
Key financial figures
|in EUR mill. | Q1 2008 | Q1 2007 |Chg. % | |Rental income |43.1 |30.1 |+43% | |Net operating income |39.3 |26.9 |+46% | |Profit from the sale of properties |7.2 |5.3 |+36% | |EBITDA |39.5 |28.2 |+40% | |Change from revaluation |1.9 |16.2 |-88% | |EBIT |40.3 |43.9 |-8% | |Financial result |(29.4) |(8.1) |n.m. | |EBT |10.9 |35.8 |-70% | |Consolidated net income |8.9 |30.5 |-70% | |of which attributable to the parent |3.2 |19.7 |-84% | |company | | | | |Earnings per share (in EUR) |0.04 |0.34 |-88% | |Funds from Operations (FFO)(in EUR mn) |9.4 |13.3 |-29% | | |31-3-08 |31-12-07 |Chg. % | |Property portfolio (EUR mn) |3,846.5 |2,535.3 |+52% | |NAV per share (in EUR) |21.94 |22.04 |-0.5% | |NNNAV per share (in EUR) |23.04 |22.51 |+2.4% |
end of announcement euro adhoc
Further inquiry note:
Please address queries to:
CA Immobilien Anlagen AG
Bruno Ettenauer
Wolfhard Fromwald
Claudia Hainz
Tel.: 01/532 59 07
Fax: 01/532 59 07-510
E-Mail: office@caimmoag.com
www.caimmoag.com
Branche: Real Estate
ISIN: AT0000641352
WKN: 064135
Index: Immobilien-ATX
Börsen: Wiener Börse AG / Regulated free trade