DGAP-News: OperaOne AG: Publication of 2011 Half Year Financial Report
(firmenpresse) - DGAP-News: Opera One AG / Key word(s): Half Year Results/Half Year
Results
OperaOne AG: Publication of 2011 Half Year Financial Report
12.08.2011 / 07:32
---------------------------------------------------------------------
Frankfurt, August 12, 2011. OperaOne AG, a project developer for
high-quality residential properties in Frankfurt/Main, today published its
2011 Half Year Financial Report. The company's revenues total EUR 40.1
thousand for the first six months of the current financial year. Due to the
vacant possession of the 'Westend Suites' project, which is currently under
development, revenues were lower than in the same period in the previous
year as planned (H1/2010: EUR 128.8 thousand).
Owing to investment and expenditure on the 'Westend Suites' project, which
is progressing successfully, a result from operating activities of EUR
-389.8 thousand (H1/2010: EUR 85.9 thousand) was posted for the period
under review. OperaOne AG's result for the period came in at EUR -246.1
thousand (H1/2010: EUR 57.7 thousand). This corresponds to earnings per
share of EUR -0.02 (basic, H1/2010: EUR 2.31).
The result also includes one-off costs from the company's Entry Standard
stock exchange listing in March 2011 and expenditure on the planned capital
increase at the beginning of the third quarter 2011. OperaOne AG's
Management Board anticipates that revenues from the sale of the 'Westend
Suites' will be recognized in the profit/loss accounts in 2012. The company
is continuing to pursue its growth strategy operationally with the
acquisition of two properties in the centre of Frankfurt in July 2011 and
is constantly examining further purchase and project participation
opportunities.
The full report for the first half-year 2011 is available for download in
the 'Investor Relations' section on the website www.operaone.de.
Company profile
OperaOne AG is a project development company that specialises in the
acquisition, development and sale of high-quality residential real estate.
The company focuses its investments on the inner city area of Frankfurt am
Main. This includes the popular city districts of Westend, Nordend,
Holzhausenviertel, Sachsenhausen and Europaviertel, among others. The
company primarily purchases existing residential and commercial properties
that offer the potential for expansion and alternative utilisation. The
targeted project-related investment volume is between EUR 5 million and EUR
15 million. The acquired properties are to be realised on the basis of
modern, high-quality residential concepts with a focus on the
sustainability aspects of residential quality and economic and energy
efficiency, before being sold.
The company is currently developing the 'Westend Suites' residential
project in Frankfurt's West End. This residential building, which is being
renovated to high-quality standards, contains 43 apartments and five
penthouses entailing a total living area of around 4,250 m². It is located
between the Mendelssohnstrasse and Arndstrasse in parallel with the
Bockenheimer Landstrasse. The company aims to complete the project by the
first quarter of 2012, before selling the Westend Suites as part of a
global sale.
OperaOne AG has set itself the long-term objective of becoming a leading
project developer of high-quality residential real estate in Frankfurt am
Main. The company also aims to realise this objective in the form of joint
ventures in other development companies' projects. Over the past 20 years,
OperaOne AG's management has developed and realised many comparable
properties in top Frankfurt locations. Based on an extensive and
established network that includes real estate agents, city planners,
investors and project developers, the company has created a project
pipeline with a volume in the triple-digit range in millions of euros.
Individual projects of this pipeline are to be acquired by pure equity
financing on the part of OperaOne AG.
Contact:
cometis AG
Dirk Ulmer
Tel.: +49 (0)611 - 205855-24
Fax: +49 (0)611 - 205855-66
E-Mail: ulmer(at)cometis.de
End of Corporate News
---------------------------------------------------------------------
12.08.2011 Dissemination of a Corporate News, transmitted by DGAP - a
company of EquityStory 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: Opera One AG
Rossmarkt 11
60311 Frankfurt
Germany
Phone: 069 920 374 100
Fax: 069 920 374 101
E-mail: info(at)operaone.de
Internet: www.operaone.de
ISIN: DE000A1H6YK2
WKN: A1H6YK
Listed: Open Market (Entry Standard) in Frankfurt
End of News DGAP News-Service
---------------------------------------------------------------------
135303 12.08.2011
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 12.08.2011 - 07:32 Uhr
Sprache: Deutsch
News-ID 45490
Anzahl Zeichen: 0
contact information:
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 227 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"DGAP-News: OperaOne AG: Publication of 2011 Half Year Financial Report"
steht unter der journalistisch-redaktionellen Verantwortung von
Opera One AG (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
