DGAP-News: GWB Immobilien AG: GWB is making progress with its development projects
(firmenpresse) - DGAP-News: GWB Immobilien AG / Key word(s): Interim Report
GWB Immobilien AG: GWB is making progress with its development
projects
01.06.2011 / 08:30
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Report on the first three months 2011
- Sales at EUR 1.8 million
- EBIT slightly improved to EUR0.7 million
- Start of construction work in Speyer
Hamburg, June 1, 2011. In the first three months of the current fiscal year
GWB Immobilien AG has concentrated on its development projects: In Speyer
the construction work of the POSTGALERIE started and also the development
of projects Völklingen, Wolfsburg and Heppenheim has continued to progress.
The minor capital increase carried out in January 2011 further stabilises
the liquidity position of the company.
The sales generated by the Group amounted to EUR 1.8 million in the first
three months of the financial year and were therefore EUR 0,5 million lower
than in the same period the previous year. This was attributable to lower
rental income due to the sale of properties in 2010. Rental income in the
first quarter of 2011 amounted to about EUR 1.4 million (previous year:
about EUR 2.1 million).
Earnings improved compared to the previous year: The net income before
taxes amounted to EUR -0,1 million (previous year: EUR -0,5 million) and
the
operating result (EBIT) improved from EUR0.6 million to EUR 0.7 million.
'Fortunately, after months of hard work, a start was made on POSTGALERIE
Speyer - with an investment of EUR 44.3 million our biggest property,'
states Dr Norbert Herrmann, CEO of GWB Immobilien AG. 'Further, we have
managed to improve our results by operating economically and by making
improvements in many functional areas.'
The GWB Immobilien AG balance sheet total at Group level amounted to
EUR 124.3 million on 31 March 2011, which was about EUR 0.6 million higher
than in the 2010 financial year.
About GWB Immobilien AG
GWB is listed in the Prime Standard at Frankfurt Stock Exchange. Over a
period of more than 15 years, the GWB corporate group has developed into a
specialist for the implementation of large retail projects and for the
revitalisation of retail properties. The focus is on medium-sized towns and
suburban areas. The strength of the GWB business model is that the company
acts as a single, integrated source for the provision of all the necessary
services, covering the entire supply chain from project development and
construction to marketing and management. More than 40 projects have been
completed successfully.
Further information is available on the company website
www.GWB-Immobilien.de.
Press inquiries:
Kirchhoff Consult AG, Janina Wismar
Phone: +49 (0) 40 60 91 86-50, janina.wismar(at)kirchhoff.de
End of Corporate News
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Language: English
Company: GWB Immobilien AG
Hauptstraße 1a
22962 Siek
Deutschland
Phone: +49 4107 9080-0
Fax: +49 4107 908072
E-mail: info(at)gwb-immobilien.de
Internet: www.gwb-immobilien.de
ISIN: DE000A0JKHG0, DE000A0JRVH4, DE000A0JRVJ0
WKN: A0JKHG
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, Stuttgart
End of News DGAP News-Service
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127099 01.06.2011
Datum: 01.06.2011 - 08:30 Uhr
Sprache: Deutsch
News-ID 34290
Anzahl Zeichen: 0
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Kategorie:
Business News
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