euro adhoc: ALTA FIDES Aktiengesellschaft für Grundvermögen
other
ALTA FIDES
reports strong increase in its planning
. Successful launch of Campus Real Estate AG
. Doubling of sales planned for 2008
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
12.10.2007
Stuttgart, 12 October 2007. Over the coming years, ALTA FIDES AG, Stuttgart will grow more strongly than planned so far. This growth is based on the newly established company of Campus Real Estate AG, Stuttgart,which has successfully begun its operations in order to implement a new concept for student living throughout Germany. The new subsidiary has already managed to secure four properties for itself for the implementation of campus facilities; moreover, the company is about to conclude negotiations regarding the acquisition of two further properties. The first campus has already been sold to an institutional investor. Furthermore, there is a high degree of interest in further campus projects.
This has prompted ALTA FIDES AG to significantly increase its current planning. Accordingly, sales to the amount of EUR 120 million, one half of which will already be contributed by Campus Real Estate AG, are now planned for the business year 2008. Moreover, the operating result will also increase considerably during the next business year. ALTA FIDES expects a doubling of the profit for the financial year to approx. EUR 13 million as a result of a tripling of sales to EUR 60 million already for this year. So far, ALTA FIDES AG only expected a small growth rate for the year 2008. In 2009, ALTA FIDES AG will continue along the path of growth on which it has embarked in particular on account of the activities of Campus Real Estate AG.
"Campus Real Estate AG has projects regarding the construction of at first 1,300 residential units; a further 2,500 units each are set to follow during the next year as well as during the following years", Norbert Ketterer, head of the management board, explains. The first projects of the new "campus" will be constructed in Karlsruhe, Erlangen, Leipzig - with two facilities - as well as in Heidelberg and Stuttgart. "Our investment programme for the coming five years amounts to approx. EUR 750 million for Campus alone. We will regularly sell approximately one half of the new projects."
The new subsidiary, Campus Real Estate AG, provides an ideal concept as regards the growing demand for residential facilities for students. According to current statistics, the numbers of students will rise further over the coming years. Moreover, two school years of school-leavers will crowd the universities each year depending on the respective solution in the different federal states of Germany on account of the reduction of the school time to 12 school years.
The Management Board
end of announcement euro adhoc 12.10.2007 20:02:00
Further inquiry note:
Norbert Ketterer, Vorsitzender des Vorstands
Tel.: +49 (0)341 3552060
E-Mail: ir@altafides.de
Branche: Real Estate
ISIN: DE000A0B7EZ7
WKN: A0B7EZ
Börsen: Börse Frankfurt / regulated dealing/prime standard
Börse Berlin / free trade
Börse Stuttgart / free trade
Börse Düsseldorf / free trade