DGAP-News: Franconofurt AG: Half-year 2011 activity report
(firmenpresse) - DGAP-News: Franconofurt AG / Key word(s): Half Year Results/Interim
Report
Franconofurt AG: Half-year 2011 activity report
03.08.2011 / 18:14
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Franconofurt AG, Frankfurt/Main , August 3, 2011
Half-year 2011 activity report
(1.1.2011 - 30.6.2011)
Franconofurt AG reports a net profit of EUR 1.3m for the first half of
2011.
Sales proceeds amount to EUR 5.7m and comprise rental income and income
from the sale of apartments of which EUR 5.0m relate to the sale of
apartments. Book values of apartments sold account for EUR 3.8m resulting
in a sales margin of 24%.
Income due to profit participation contracts with the 100% owned subsidiary
FranconoResidence GmbH amount for EUR 0.5m.
FranconoResidence GmbH has sold apartments in the amount of EUR 1.7m. After
deducting a book value of 1.3m it reported a profit of EUR 0.4m.
The book value of real estate assets in FranconoResidence GmbH amount EUR
2.1m.
The balance sheet total of Franconofurt AG as of half-year 2011 amounts to
EUR 63m and compares to EUR 72 as of year end-2010. The decline is to a
large extend due to the EUR 8m dividend payment to shareholders as of May
2011.
As of half-year 2011 real estate book values amounted to c. EUR 40m in
Franconofurt Group while the cash position for the group was at c. EUR 20m.
Equity of Franconofurt AG amounts to EUR 59m as of mid-2011.
Outlook: Franconofurt AG aims to successfully complete the postponed IPO of
its subsidiary Opera One AG in the second half of 2011 so that Opera One AG
can be positioned as one of the leading residential real estate developers
in Frankfurt. Franconofurt AG will continue to sell apartments in order
profitably operate in in the second half of 2011.
Further information regarding the H1 2011 results in German language can be
obtained through:
http://www.franconofurt.de/deutsch/investor-relations/finanzberichte/zwisc
henberichte/zwischenberichte.html eingesehen werden.
-The management board-
End of Corporate News
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Language: English
Company: Franconofurt AG
Rossmarkt 11
60311 Frankfurt am Main
Germany
Phone: +49 (0)69 920 374 100
Fax: +49 (0)69 920 374 101
E-mail: sen(at)franconofurt.de
Internet: http://www.franconofurt.de
ISIN: DE0006372626
WKN: 637262
Listed: Freiverkehr in Berlin, Düsseldorf, Hamburg, München,
Stuttgart; Entry Standard in Frankfurt
End of News DGAP News-Service
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134359 03.08.2011
Datum: 03.08.2011 - 18:14 Uhr
Sprache: Deutsch
News-ID 41576
Anzahl Zeichen: 0
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Kategorie:
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