25.09.2012 – 13:40

Grand City Properties S.A.

EANS-News: Grand City Properties S.A.: H1 2012 reviewed financial results show strong operational performance (with document)

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6-month report


Luxembourg (euro adhoc) - Grand City Properties S.A.: H1 2012 reviewed financial
results show strong operational performance
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- Strong interim performance in the first half of 2012 with reported post-tax
profit of EUR 36.5 million for the six months ended June 30, 2012 

- Robust growth with shareholder equity value of EUR 130.1 million
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Luxembourg, 25 September 2012 - Grand City Properties S. A. has completed the
first half-year of 2012 with a strong reported operating profit of EUR 54.4
million and post-tax profit of EUR 36.5 million (including minority interest). 

The Company consolidated revenues came to EUR 18.3 million, while the capital
gains from revaluation of property portfolio and sales of properties came to EUR
45.7 million. 

The investment portfolio grew by 29% compared to the end of 2011 to EUR 341.7
million. Total equity increased to EUR 130.1 million (including minority
interest). 

During the reporting period, the Company took over 3,461 residential units in
North-Rhein Westphalia region. 

Subsequent to the period-end, the Company successfully completed a capital
increase against contribution in cash, with a total of 5.5 million of new shares
issued and gross proceeds of EUR 15.125 million received from strategic
institutional investors. 

With LTV of [48%] the company maintains a sound balance sheet structure and
remains solid with long term financing. 


About GRAND CITY PROPERTIES S.A.

Grand City Properties S.A. is a residential property investment company with
main focus on residential investments in Germany. The group buys, redevelops,
turns around and optimizes residential properties throughout Germany. 


Contact:

Grand City Properties S.A. 
6, boulevard Pierre Dupong 
L 1430 Luxemburg 

www.grandcityproperties.com

Attachments with Announcement:
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http://resources.euroadhoc.com/us/5VgMedTT

Further inquiry note:
Herr Christian Hupfer
Tel.: 004930887088192
E-Mail:  christian.hupfer@grandcityhotels.com

end of announcement                               euro adhoc 
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Attachments with Announcement:
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http://resources.euroadhoc.com/us/5VgMedTT


company:     Grand City Properties S.A.
             boulevard Pierre Dupong 6
             D-L-1430 Luxembourg
phone:       0035226187379
FAX:         0035226187779
WWW:         http://www.grandcityproperties.com
sector:      Financial & Business Services
ISIN:        LU0775917882
indexes:     Entry Standard Index
stockmarkets: Open Market: Frankfurt 
language:   English