DGAP-News: IFM ends fiscal year 2011 with solid results
(firmenpresse) - DGAP-News: IFM Immobilien AG / Key word(s): Final Results
IFM ends fiscal year 2011 with solid results
28.03.2012 / 07:30
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Press Release
IFM ends fiscal year 2011 with solid results
- Operating profit of EUR 9.0 million at same level as previous year
- Consolidated profit increases by 8.2% to EUR 5.8 million
- Earnings per share of EUR 0.61 (previous year: EUR 0.57)
Frankfurt am Main, March 28, 2012 - The IFM Immobilien AG Group
successfully completed fiscal year 2011 and achieved a consolidated profit
of EUR 5.8 million (previous year: EUR 5.3 million). The operating profit
(before tax) in the reporting year was EUR 9.0 million and thus was nearly
at the same level as the previous year (EUR 8.9 million). Consolidated
revenue fell slightly by 1.7% to EUR 17.6 million (previous year: EUR 17.9
million). The annual report including the complete consolidated financial
statements of IFM Immobilien AG for 2011 was published online today
(www.ifm.ag).
Georg Glatzel, CEO of IFM Immobilien AG: 'In 2011, we focused on the
further development of our existing portfolio. Our assets showed a positive
development; we achieved important leasing successes. The resulting value
appreciation of our properties once again provided a significant
contribution to our solid results. In 2012 we will use all our strength to
focus on our project development 'Kureck' in Wiesbaden and to further
develop our portfolio in order to tap into additional potential for
increasing rental income and property values.'
Group revenue and results
The decline in the Group revenue to EUR 17.6 million is primarily
attributable to a decrease of the rental income resulting from the sale of
the property westendFirst in the previous year as well as vacancies as the
result of revitalization, in particular at the Kureck project in Wiesbaden.
Part of the resulting decrease in the rental income caused by this was
compensated for during the course of the year through increased rental
income from other properties which resulted from new leasing success. This
was especially true of the GutenbergPark in Mainz, Romeo&Julia in
Frankfurt and Maxxon in Eschborn. The rental income in reporting year
totaled EUR 14.1 million, which was about 4.4% lower than the previous year
(EUR 14.8 million). Income from the fair valuation of investment properties
amounted to EUR 11.1 million in total in fiscal year 2011 (previous year:
EUR 12.6 million). In the reporting year, IFM achieved a consolidated
revenue after taxes in the amount of EUR 5.8 million (2010: EUR 5.3
million). This amount equates to undiluted earnings per share in the amount
of EUR 0.61 (previous year: EUR 0.57).
Changes in Group balance sheet
The balance sheet of the IFM Group increased from EUR 344.4 million to EUR
356.6 million as of December 31, 2011. This corresponds to an increase by
3.6% compared to the previous reporting date of December 31, 2010, which is
primarily a result of the further development of the property portfolio.
The equity quota, which was 31.8% on the reporting date 2010, increased to
32.5% during the reporting period.
Note: In fiscal year 2011, IFM Immobilien AG made adjustments to its
financial reporting in accordance with the Best Practice recommendations by
the European Public Real Estate Association (EPRA) thus contributing to a
better transparency and comparability of the company's balance sheet with
the sector. This explains the deviations in the comparative values of some
of the corporate figures for 2010 published here from the data already
published in March 2011.
For inquiries please contact:
Peter Dietze-Felberg
Dr. ZitelmannPB. GmbH
Rankestrasse 17
10789 Berlin, Germany
Tel: +49 (0) 30 72 62 76-165
Fax: +49 (0) 30 72 62 76-162
Email: dietze(at)zitelmann.com
Corporate contact information:
IFM Immobilien AG
Regine Liebl-Schibinger
Ulmenstraße 37-39
60325 Frankfurt
T. +49 (0) 69 9686700-32
F. +49 (0) 69 9686700-25
welcome(at)ifm.ag
www.ifm.ag
About IFM Immobilien AG:
IFM Immobilien AG is an investor and project developer involved
specifically in commercial real estate focusing on office and downtown
retail uses. Its business operations include redeveloping, restructuring
and repositioning commercial properties in addition to classic project
development activities. The property investments that IFM selects stand out
due to what IFM sees as an attractive risk/opportunity profile, great
potential for development and appreciation value in preferred locations.
Together with this strategy and the core competencies of redevelopment,
restructuring and repositioning, IFM Immobilien AG revitalizes properties
and creates what it believes will be sustainable property values.
Key Figures for the IFM Group (IAS/IFRS)
Performance figures
EUR million January 1 - January 1 -Key figures from balance sheet
December 31, December 31,
2011 2010
Revenue (Rental income and revenues due 17.6 17.9
to change of incidental expenses)
Result from market assessment of 11.1 12.6
investment properties
Operating profit 9.0 8.9
Profit after taxes and minority 5.7 5.3
interests
Earnings per share (undiluted in EUR) 0.61 0.57
EUR million December 31, 2011 December 31, 2010End of Corporate News
Total assets 356.6 344.4
Non-current assets 348.1 326.2
- including: investment properties 338.8 314.9
Equity: 115.9 109.4
- including: Issued capital 9.4 9.4
Equity ratio (as a percentage) 32.5 31.8
Liabilities 240.8 235.0
- including: Liabilities to banks 207.9 203.5
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Language: English
Company: IFM Immobilien AG
Karl-Ludwig-Straße 2
69117 Heidelberg
Germany
Phone: +49 (0)6221-434 098 0
Fax: +49 (0)6221-434 098 66
E-mail: welcome(at)ifm.ag
Internet: www.ifm.ag
ISIN: DE000A0JDU97
WKN: A0JDU9Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, Stuttgart
End of News DGAP News-Service
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162595 28.03.2012
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