DGAP-News: IFM Immobilien AG: IFM gets off to a successful start into the fiscal year of 2012
(firmenpresse) - DGAP-News: IFM Immobilien AG / Key word(s): Quarter Results/Interim
Report
IFM Immobilien AG: IFM gets off to a successful start into the fiscal
year of 2012
23.05.2012 / 07:30
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* The operating profit increased to EUR 2.8 million
* Group profits increased to EUR 1.8 million (+2.3%)
* Earnings per share of EUR 0.19 (previous year: EUR 0.19)
Frankfurt am Main, 22 May 2012 - The IFM Immobilien AG Group recorded a
successful start into the fiscal year of 2012 and in the first quarter
showed group profits after tax of EUR 1.8 million. This corresponds to an
increase of 2.3% in comparison with the first quarter of the previous year.
The operating profit (pre-tax profit) in the reporting period were EUR 2.8
million same period of previous year EUR 2.2 million. With revenues of EUR
4.8 million in the first quarter, this was an increase of 11.7%. The report
with the complete consolidated financial statements of
the IFM Immobilien AG for the first quarter of 2012 has now been published
on the Internet (www.ifm.ag).
Georg Glatzel, CEO of IFM Immobilien AG: 'With the results for the first
quarter, we have established a sound basis for the coming months. We were
able to increase both our revenues and our profits. In addition, we have
further improved our financing structure by means of loan extensions. For
the coming months, in addition to working on our current projects, we also
aim to further optimize the cost structure within the group. Moreover, we
are exploring the sale of properties in order to generate funds for new
commitments in properties with potential for development and high potential
for value creation.
Group revenue and results
The development in group turnover in the first quarter of 2012 was due to
the effects of planned revitalization-related vacancies - particularly at
the Kureck project in Wiesbaden after the tenant R+V moved out in January
2011 - which was overcompensated by additional increases in the occupancy
rate in other properties. This particularly applies to the 'Romeo&Julia'
(Frankfurt) and 'Maxxon' (Eschborn) properties. In addition to the increase
in rental income by 7.4% to approx. EUR 3.8 million, the income from
charges for incidental expenses also increased. In the reporting
period, at EUR 1.1 million, this amounted to an increase of 30.4% compared
to the corresponding period for the previous year (EUR 0.8 million). The
reason for this is primarily related to higher rental rates for several
properties. Income from the fair valuation of investment properties
amounted to EUR 2.7 million in total in the first quarter of 2012 (previous
year: EUR 1.8 million). This was predominantly the result of revaluation
due to rental successes which were achieved at the Zeilgalerie in Frankfurt
and 'Das Carré' in Heidelberg. After tax, IFM achieved a 2.3 % higher group
result of EUR 1.8 million, which corresponds to an undiluted result per
share of EUR 0.19 (same period previous year: EUR 0.19).
Changes in Group balance sheet
The balance sheet total of the IFM Group increased slightly by 31 March
2012 from EUR 356.6 million to EUR 359.5 million. The slight increase of
0.8% compared with the previous reporting date of 31 December 2011 is
essentially due to the further development of the IFM property portfolio.
The equity quota, which was 32.5 % on the reportingdate of 2011, increased
slightly to 32.8 % during the reporting period. In comparison with the
reporting date of 2011, this resulted in a definite increase of 32.1% for
long-term borrowed funds, while short-term borrowed funds reduced by 36.4%.
Both changes essentially resulted from changes in liabilities to banks,
where due to the extension of loans there was a reduction in the short-term
area and a corresponding increase in the long-term area.
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 (IFRS)
Performance figures
in EUR million 01.01.-31.03.2012 01.01.-31.03.2011
Turnover (Rental Revenues
and Revenues from Charges
for Incidental Expenses) 4.8 4.3
Result from market assessment
of investment properties 2.7 1.8
Operating profit 2.7 2.2
Profit after taxes and
minority interests 1.8 1.8
Earnings per share
(undiluted in EUR) 0.19 0.19
Key figures from balance sheet
in EUR million March 31, 2012 December 31, 2011
Total assets 359.5 356.6
Non-current assets 350.9 348.1
- Of which:
investment properties 341.9 338.8
Equity: 117.8 115.9
- Of which:
Issued capital 9.4 9.4
Equity ratio (as a percentage) 32.8 32.5
Borrowed funds 241.7 240.8
- Of which:
Liabilities to banks 210.3 207.9
Contact:
For inquiries, please contact:
Dr. ZitelmannPB. GmbH
Peter Dietze-Felberg
Rankestr. 17
10789 Berlin
Tel.: +49 (0) 30 - 72 62 76 165
Fax: +49 (0) 30 - 72 62 76 162
dietze(at)zitelmann.com, www.zitelmann.com
Corporate contact information:
IFM Immobilien AG
Anna-Lena Krenek
Ulmenstraße 22
60325 Frankfurt
T. +49 (0) 69 9686700-35
F. +49 (0) 69 9686700-25
Karl-Ludwig-Straße 2
69117 Heidelberg
T. +49 (0) 6221 434098-0
F. +49 (0) 6221 434098-66
welcome(at)ifm.ag, www.ifm.ag
End of Corporate News
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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: A0JDU9
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, Stuttgart
End of News DGAP News-Service
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171062 23.05.2012
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Datum: 23.05.2012 - 07:30 Uhr
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