DGAP-News: IFM Immobilien AG: IFM Concludes First Semester at a Profit - Positive Outlook both for Year as a Whole and for 2014
(firmenpresse) - DGAP-News: IFM Immobilien AG / Key word(s): Half Year Results
IFM Immobilien AG: IFM Concludes First Semester at a Profit - Positive
Outlook both for Year as a Whole and for 2014
22.08.2013 / 07:46
---------------------------------------------------------------------
- Operating profit at EUR 2.3 million (same semester last year: EUR 4.3
million)
- Consolidated profit at EUR 0.4 million (same quarter last year: EUR 2.8
million)
- Earnings per share at EUR 0.04 (same quarter last year: EUR 0.30)
Frankfurt am Main, 22 August 2013 - At the end of the first semester of its
2013 fiscal year, IFM Immobilien AG Group reported a consolidated profit of
EUR 0.4 million (same quarter previous year: EUR 2.8 million). The
operating profit (earnings before taxes) for the period under review
totalled EUR 2.3 million. The year-on-year decline (down from EUR 4.3
million) is mainly due to the fact that the result from the assessment of
investment properties, which includes realised investments and successful
lettings at the various properties, was diminished by the disposal of the
'Romeo&Julia' property in Frankfurt am Main. Moreover, the mid-year
result was impaired by expenditures in connection with the implemented
restructuring measures. The Group's consolidated revenues totalled EUR 8.4
million at the end of the first six months of 2013, down from EUR 9.6
million for the same quarter last year. The full-length interim report of
IFM Immobilien AG Group for H1 2013 was published on the company's homepage
today (www.ifm.ag).
Said Volker de Boer, CEO of IFM Immobilien AG: 'The first semester of our
financial years was defined, on the one hand, by a robust development of
our operative business. On the other hand, we pursued and concluded
extensive restructuring processes in the group, such as the outsourcing in
the areas Accounting and Property Management, as well as the outsourcing of
the document management. We have made great progress in our efforts to make
the IFM Group leaner, more agile and more competitive. Combined with the
Group's then-as-now very sound wealth and finance situation, which
continued to improve quarter on quarter, the mid-year result reflects the
successful implementation of the restructuring plans, on the one hand,
while representing a robust foundation for the things we will seek to
accomplish in the months to come. We are convinced that the successful
restructuring along with the sound operative development of the coming
quarters will translate into a corresponding earnings performance that will
be reflected not just in the positive year-end result of the current
financial year, but also in enhanced earnings during the 2014 financial
year.'
Performance of Group Revenue and Consolidated Profit
The drop in consolidated revenues from EUR 9.6 million to EUR 8.4 million
is primarily explained by the fact that rental income and revenues from the
allocation of ancillary costs were reduced by the disposal of the 'Romeo&Julia' property in Frankfurt. Rental income added up to EUR 5.2 million
during the semester under review (H1 2012: EUR 6.3 million), whereas the
result from the assessment of investment properties equalled EUR 3.6
million (H1 2012: EUR 5.2 million). IFM achieved a consolidated profit
after taxes in the amount of EUR 0.4 million during the year under review
(H1 2012: EUR 2.8 million). This results in undiluted earnings per share of
EUR 0.04 (H1 2012: EUR 0.30).
Changes in the Consolidated Balance Sheet
The total assets of IFM Group decreased from EUR 366.5 million to EUR 287.8
million by 30 June 2013, which implies a year-on-year decline by 21% since
the previous balance sheet date of 31 December 2012 that is essentially due
to the sale of the 'Romeo&Julia' property in Frankfurt, and the
corresponding reduction in liabilities. The value of investment properties
totalled EUR 260.4 million by the end of the semester under review, thereby
exceeding the year-end total of 2012 (EUR 256.1 million) by EUR 4.3 million
or 2%. With the 'Romeo&Julia' property sold, the value of non-current
assets held for sale, which had totalled EUR 94.7 million by 31 December
2012, were reduced to zero. The equity ratio, which has equalled 33.3% by
the balance sheet date of the previous year, rose to 42.8% as at 30 June
2013.
For inquiries, please contact:
Holger Friedrichs
Dr. ZitelmannPB. GmbH
Rankestrasse 17
D-10789 Berlin
Tel: +49 (0) 30 72 62 76-157
Fax: +49 (0) 30 72 62 76-162
E-mail: friedrichs(at)zitelmann.com
Corporate contact:
IFM Immobilien AG
Karlo Schwöbel
Frankfurt office Heidelberg office
Ulmenstrasse 37-39 Karl-Ludwig-Strasse 2
D-60325 Frankfurt am Main D-69117 Heidelberg
T. +49 (0) 69 9686700-42 T. +49 (0) 6221 434 06-22
F. +49 (0) 69 9686700-25 F. +49 (0) 6221 434 06-66
E-mail: 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 use
types. In addition to conventional project development, its business
operations include the redeveloping, restructuring and repositioning of
commercial properties. The properties that IFM acquires are generally
distinguished by what IFM deems 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 thereby creates what it believes will be
sustainable property values.
Key Figures for the IFM Group (IFRS)
Key performance figures
in MM EUR 01/01-30/ 01/01-30/Balance sheet key figures
06/2013 06/2012
Revenue (rental income and income due to change 8.4 9.6
of incidental expenses)
Result from market assessment of 3.6 5.2
investment properties
Earnings before taxes - operating profit 2.3 4.3
Profit after taxes attributable to IFM 0.4 2.8
shareholders
Earnings per share (undiluted, in EUR) 0.04 0.30
in MM EUR 30 June 2013 December 31, 2012End of Corporate News
Total assets 287.8 366.5
Non-current assets 268.1 262.9
- including:
investment properties 260.4 256.1
Equity: 123.1 122.1
- including: issued capital 9.5 9.5
Equity ratio (percent): 42.8 33.3
Total liabilities 164.7 244.4
- including: liabilities to banks
135.5 213.7
---------------------------------------------------------------------
22.08.2013 Dissemination of a Corporate News, transmitted by DGAP - a
company of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
---------------------------------------------------------------------
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
---------------------------------------------------------------------
226951 22.08.2013
Themen in dieser Pressemitteilung:
ifm-immobilien-ag-ifm-concludes-first-semester-at-a-profit
positive-outlook-both-for-year-as-a-whole-and-for-2014
Unternehmensinformation / Kurzprofil:
Datum: 22.08.2013 - 07:46 Uhr
Sprache: Deutsch
News-ID 289954
Anzahl Zeichen: 5119
contact information:
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 286 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"DGAP-News: IFM Immobilien AG: IFM Concludes First Semester at a Profit - Positive Outlook both for Year as a Whole and for 2014"
steht unter der journalistisch-redaktionellen Verantwortung von
IFM Immobilien AG (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
