Interim accounts as of 30 June 2012:

Positive developments for CA Immo despite an uncertain environment:

83 % increase of consolidated net income after minorities

• Rental income: € 140.7 m (+10 %)
• Rise of +28 % takes EBITDA to € 112.7 m
• Net income after non-controlling interests: € 26.4 m (+83 %)
• NAV per share: € 18.96 (-1 %)

Vienna, 20.8.2012. Despite an economic climate of continuing uncertainty, the first half of 2012 has brought tangibly positive developments for CA Immo. The long-term result has risen sharply, mainly as a consequence of additional rental revenue from in-house developments recently completed. In addition a series of successful sales were subsequently announced. Rental income increased by 9.7 % to stand at € 140.7 m. The net operating income increased by 16.2 % to € 123.7 m.

During the first half of 2012, the sale of properties generated revenues of € 45.8 m. Around 87 % were attributable to the disposal of long-term properties, with undeveloped sites in Germany making up the majority of this. The contribution to earnings was € 6.9 m in total in the first half 2012 (thereof trading portfolio contributed € 3.5 m and € 3.4 m came from the disposal of long-term properties).

The decline in indirect expenditures (by 16.0 % to € -19.5 m) was mainly the result of lower personnel spendings as well as lower legal and consultancy costs. EBITDA increased by 27.9 % to € 112.7 m. With an EBITDA of € 56.6 m € the Eastern Europe segment has the largest share of Group EBITDA (approx. 50 %).
The revaluation result was € 5.4 m. From a regional viewpoint, the revaluation result comprises appreciations of € 28.6 m in Germany (primarily stemming from the reclassification of Tower185 to ‘Investment Properties’) as well as devaluations in the Eastern Europe segment (€ -22.8 m) and Austria (€ - 0.3 m). The negative result in Eastern Europe was largely the result of devaluations on logistical sites which are linked to the restructuring of project financing having a favorable non-recurring effect in the amount of € 21.0 m, which has been recognised in the financial result in the first quarter.
As at 30 June 2012 the financial result was € -71.8 m, compared to € -74.8 m in 2011. Taking account of interest on recently completed properties, financing costs increased by 8.1 % to € -86.5 m. Moreover, comparing the first half of 2012 with the same period last year shows that the financial result for the first half 2011 contained a clearly positive result in the amount of € 3.6 m while the contribution to earnings in 2012 was negative at € -6.0 m. Overall, the developments described above gave rise to earnings before taxes (EBT) for the first half of 2012 in the amount of € 43.3 m (+23.5 %). Consolidated net profit after non-controlling interests in the first half of 2012 was € 26.4 m, 82.8 % higher than the figure for 2011 (€ 14.4 m).

Funds from operations after taxes (FFO) stood at € 56.1 m in the first half of 2012 compared to € 10.2 m in the same period last year.

As at 30 June 2012, the equity ratio of CA Immo was 30 %. The Groups net debt stood at € 3.1 bn, alongside property assets of around € 5.3 bn. The net asset value per share stood at € 18.96, and thus, also because of the dividend payment in the second quarter, was slightly lower than the figure posted at the end of 2011. The NNNAV per share stood at € 19.64.

The Financial Report of CA Immobilien Anlagen AG as of 30 June 2012 is available at www.caimmo.com.

Selected financials: 

Please address any questions to:

CA Immobilien Anlagen AG
Florian Nowotny (Investor Relations)
Claudia Hainz (Investor Relations)
T: +43 (0)1 532 59 07
F: +43 (0)1 532 59 07-595
Email: ir@caimmo.com
www.caimmo.com