• Stable operational result: EBITDA +3.0 %
• Positive EBIT of € 3.0 m thanks to significantly lower revaluation losses
• Loss for the period after minorities reduced to € -76.9 m
• Targets for 2009 regarding property sales and financings exceeded
• Voluntary takeover bid for CA Immo International shares held in free float at a price of € 6.5 per share

Vienna, 24.03.2010. Thanks to stable operational development and a sharp reduction in non-realised negative changes in the value of property assets compared to the previous year, the CA Immo Group achieved a positive EBIT of € 3.0 m in 2009 (€ -152.6 m in 2008). The loss for the period after minorities was cut from € -237.1 m in 2008 to € -76.9 m.
Compared to 2008, rental income for the CA Immo Group rose by 1.0 % to stand at € 177.0 m. Revenue from the sale of long-term real estate and inventory intended for trading in Germany and Austria totalled € 435 m, comfortably exceeding the target of € 300 m defined at the start of the year despite the tough market climate. Sales made a total contribution of € 19.1 m to the result.
Valuation-related charges in the income statement (i.e. the revaluation result and impairments) fell from € -285.6 m in 2008 to € -137.1 m. The main reason behind the value change was the development of market values in the Eastern and South Eastern Europe segment, which remained negative in 2009 at € -152.0 m. This trend was counterbalanced by the valuation result in Germany, which reached +€ 30.2 m thanks to fair value accounting of property assets under development for the first time as well as the gradual stabilisation of the German property market observed since the start of the third quarter. The revaluation result for Austria stood at € -15.3 m.
Despite these devaluations, the EBIT returned to positive territory in 2009 (€ 3.0 m compared to
€ -152.6 m in 2008).
Financial results were adversely affected by the negative non-cash effects of valuation changes linked to interest rate hedging and the value adjustments of affiliated companies as well as slightly higher current financing costs of € -108.4 m (€ -105.1 m in 2008), and thus amounted to € -137.5 m in 2009 compared to € -142.8 m in 2008.
Earnings before taxes (EBT) were € -134.5 m in 2009 (€ -295.4 m in 2008), and consolidated net income after minorities was € -76.9 m (€ -237.1 m in 2008). Consolidated net income after minorities returned to a positive value (of +€ 1.4 m) in the fourth quarter of 2009.
The upturn in business activity was also reflected in higher operating cash flow of € 120.5 m, 5.2 % above the previous year’s value.

CA Immo’s equity ratio stood at 40.1 % on the reporting date. As of 31 December 2009, net debt for the Group was € 1,472.3 m (-7.5 %) with property assets of approximately € 3.5 bn. Owing to the bonds issued in quarter four of 2009, liquid assets (including short term securities) amounted to
€ 504.1 m on 31 December 2009 (compared to € 332.6 m on 31.12.2008); another appr. € 500 m is available to the CA Immo Group through committed credit lines linked to projects under development. One of the key objectives of 2009 – improving liquidity and capitalisation – was thus achieved.
Net asset value (NAV) per share was € 17.87 on 31 December 2009 (€ 18.92 on 31.12.2008).

Voluntary takeover bid for free float shares of CA Immo International AG
CA Immobilien Anlagen AG has announced its intention to offer a voluntary takeover bid to the free float shareholders of CA Immo International AG. The offer price will be € 6.50 in cash, equivalent to a premium of 22.6 % on the current closing price. The maximum transaction volume will be around € 104 m. At present, CA Immobilien Anlagen AG has a 63.05 % stake in CA Immo International AG (directly and indirectly); after the offer, it intends to acquire full control over the takeover target by means of a squeeze out or merger. The bid will not be dependent on securing a minimum acceptance threshold. The bidding document, containing further details and provisions, is expected to be published in calendar week 16 of 2010, subject to approval by the Austrian Takeover Commission.
Dr. Bruno Ettenauer, Chief Executive Officer of CA Immobilien Anlagen AG, says that, “The plan to increase our share in CA Immo International AG with the aim of an eventual de-listing will streamline the Group structure and improve the flexibility of capital allocation in the CA Immo Group. Because of developments on property markets in Eastern and South Eastern Europe over the past two years, CA Immo International AG has not been able to live up to the expectations raised at the time of the IPO in fall 2006. The share price in particular has been affected by reduced liquidity on the stock market. For this reason, we are now offering a fair exit opportunity (measured against the current share price) to free float shareholders of CA Immo International AG with a cash offer of € 6.50 per share.”

The 2009 financial report for CA Immobilien Anlagen AG has been published on the web site www.caimmoag.com.


Key financial figures:

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Please address any questions to:

CA Immobilien Anlagen AG
Florian Nowotny (Investor Relations)
Claudia Hainz (Investor Relations)
Tel.: +43 (0)1532 5907
Fax: +43 (0)1532 5907 595
E-mail: ir@caimmoag.com
www.caimmoag.com