DGAP-News: IFM Immobilien AG: IFM Scores another Robust Year-End Result in 2012
(firmenpresse) - DGAP-News: IFM Immobilien AG / Key word(s): Final Results
IFM Immobilien AG: IFM Scores another Robust Year-End Result in 2012
28.03.2013 / 08:32
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- Operating profit at EUR 6.0 million (previous year: EUR 8.9 million)
- Consolidated profit at EUR 4.6 million (previous year: EUR 5.8 million)
- Earnings per share at EUR 0.49 (previous year: EUR 0.61)
Frankfurt am Main, 28 March 2013 - The IFM Immobilien AG Group completed
its 2012 fiscal year with another robust result. The consolidated profit
equalled EUR 4.6 million (previous year: EUR 5.8 million), while the
operating profit (earnings before taxes) came to EUR 6.0 million at the end
of the year under review (previous year: EUR 8.9 million). The decline in
earnings year on year is essentially explained by the expenditures that
accrued in connection with the disposal of the 'Romeo&Julia' property in
Frankfurt am Main during the year under review, whereas the corresponding
sales proceeds will not contribute to earnings until the first quarter of
the 2013 fiscal year. Consolidated revenue rose by around 13% to EUR 19.9
million in 2012 (previous year: EUR 17.6 million). The annual report
including the full-length consolidated financial statements of IFM
Immobilien AG for 2012 was published online today (go to www.ifm.de).
Said Volker de Boer, CEO of IFM Immobilien AG: 'The IFM Immobilien AG Group
showed an altogether robust performance in 2012. A particular highlight was
the disposal of our property 'Romeo&Julia' in Frankfurt in December. The
transaction presented IFM Group with yet another opportunity to demonstrate
its ability to implement its strategy successfully on the ground, and to
translate the appreciation generated by developing its properties into
actual increases in fair market value. We aim to continue down this road in
the months to come, on the one hand by selling more of our properties, and
on the other hand by acquiring new properties with the right sort of
revitalisation and development potential. To this end, we will concentrate
primarily on prime locations in Frankfurt. For one thing, this is the
market where we have the greatest level of expertise. On the other hand,
Frankfurt is also a familiar destination for international investors, which
is why it counts among the commercial real estate markets with the highest
liquidity in Germany.'
Performance of Group Revenue and Consolidated Profit
The rise in group revenues to EUR 19.9 million was essentially due to the
fact that the ramifications of the planned vacancies in the revitalisation
context were more than offset by a further increase in occupancy rates at
other projects, specifically the properties 'Romeo&Julia' in Frankfurt
and 'Maxxon' in Eschborn. With a total of EUR 15.6 million, the rental
income of the year under review was around 10.6 % higher than the previous
year (EUR 14.1 million). The gain on fair valuation of investment
properties totalled EUR 10.6 million by the end of the 2012 fiscal year
(previous year: EUR 11.1 million). IFM achieved a consolidated profit after
taxes in the amount of EUR 4.6 million during the year under review (2011:
EUR 5.8 million). This results in undiluted earnings per share of EUR 0.49
(previous year: EUR 0.61).
Changes in the Consolidated Balance Sheet
The total assets of IFM Group increased from EUR 356.6 million to EUR 366.5
million by the reporting date of 31 December 2012, which implies a 2.8%
increase year on year. The fact is essentially explained by the performance
of IFM's real estate portfolio. The substantial decrease in investment
properties by 24.4% down to EUR 256.1 million is due to the fact that the
'Romeo&Julia' property had to be posted as non-current asset held for
sale by the reporting date, and that the resulting decrease was compensated
by the appreciation of other properties only to some extent. The equity
ratio, which stood at 32.5% by the reporting date 2011, rose to 33.3%
during the year under review.
For inquiries, please contact:
Peter Dietze-Felberg
Dr. ZitelmannPB. GmbH
Rankestrasse 17
D-10789 Berlin
Tel: +49 (0) 30 72 62 76-165
Fax: +49 (0) 30 72 62 76-162
E-mail: dietze(at)zitelmann.com
Corporate contact:
IFM Immobilien AG
Karlo Schwöbel
Ulmenstrasse 37-39
D-60325 Frankfurt am Main
T. +49 (0) 69 9686700-42
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 specifically of
commercial real estate, with an emphasis on office and downtown retail
uses. In addition to conventional project development, its business
operations include the redeveloping, restructuring and repositioning of
commercial properties. The properties that IFM acquires generally stand out
due to what IFM sees as an attractive risk/reward profile, great potential
for development and appreciation, and preferred locations. Using this
strategy and the company's core competencies in the areas of redevelopment,
restructuring and repositioning, IFM Immobilien AG revitalizes properties
and thus creates what it believes will be sustainable property values.
Key Ratios of IFM Group (IAS/IFRS)
Key performance
EUR million 01 JAN - 31 01 JAN - 31Balance sheet key figures
DEC 2012 DEC 2011
Revenue (rental income and revenues due to 19.9 17.6
change of incidental expenses)
Gain or loss on fair valuation of investment 10.6 11.1
properties
Operating profit 6.0 8.9
Profit after taxes and minority interests 4.6 5.8
Earnings per share (undiluted, in EUR) 0.49 0.61
EUR million 31 December 2012 31 December 2011End of Corporate News
Total assets 366.5 356.6
Non-current assets 262.9 348.1
- including: investment properties
256.1 338.8
Equity: 122.1 115.9
- including: issued capital 9.5 9.4
Equity ratio (in %): 33.3 32.5
Liabilities 244.4 240.8
- including: liabilities to banks
213.7 207.9
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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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