Deutsche REIT AG / Final Results/Change of Personnel
22.04.2008
Release of a Adhoc News, transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Earnings per share increase to EUR 2.05 before taxes and EUR 1.31 after
taxes
Cologne, 22 April 2008. In the business year 2007 Deutsche REIT AG
augmented its earnings outlook clearly. According to audited figures the
pre-tax group results increased by EUR 14.1 mill. to EUR 14.7 mill., which
equals to EUR 2.05 earning per share before taxes (diluted). They
considerably outperformed the latest published earnings outlook of the
company in the range of EUR 11.0 to EUR 12.0 mill. Earnings before
interests and taxes (EBIT) exploded by EUR 17.5 mill. to EUR 18.3 mill. The
group earnings after taxes increased from EUR 0.3 mill. in the previous
year to EUR 9.4 mill. in 2007. Earnings per share (diluted) increased
accordingly from EUR 0.05 in the previous year to EUR 1.31 in 2007.
These results are caused namely by cash earnings due to the sale of
strategically developed real estate portfolios and earnings from rental
fees. In the reporting period only five per cent of the revenues of a total
of EUR 73.8 mill. have been caused by write-ups at present value of real
estate according to IAS 40.
The groups balance sheet total increased from EUR 31.7 mill. to EUR 159.5
mill. as of 31 December 2007. The equity increased by EUR 16.3 mill. to EUR
26.6 mill.
The company is confident to achieve also in the business year 2008
outstanding results.
Mr Stephan Perthel, member of the board (Vorstand) leaves the company for
personal reasons. After a successful positioning of the company on the
market and the establishment of its business model Mr Perthel informed the
supervisory board (Aufsichtsrat) that he has decided to leave the
management board of the company for personal reasons. The supervisory board
accepts the decision of Mr Perthel and expresses its gratitude for his
services rendered. Mr Stephan Perthel will be affiliated to the company as
shareholder on a long term basis. Until the appointment of an eligible
candidate the sole member of the board Mr Jens Liewald will head
temporarily the tasks covered by Mr Stephan Perthel.
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Information and Explaination of the Issuer to this News:
Information about Deutsche REIT AG
Deutsche REIT AG is a listed real estate company which is focused on the
initiation of REITs, the expansion of a high-yield property stock and the
asset management of both its own and third-party real estate. The main area
of activity of Deutsche REIT AG extends to those areas of Germany
characterized by strong growth.
Axel Mühlhaus
Werner Rüppel
edicto GmbH
Zeißelstraße 19
60318 Frankfurt
GERMANY
Tel.: +49.69.90550552
Fax: +49.69.90550577
E-Mail: amuehlhaus@edicto.de
DGAP 22.04.2008
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Language: English
Issuer: Deutsche REIT AG
Große Sandkaul 2
50667 Köln
Deutschland
Phone: +49 (0)221 / 4672 - 0
Fax: +49 (0)221 / 4672 - 190
E-mail: info@deutschereit.de
Internet: www.deutschereit.de
ISIN: DE0005577001
WKN: 557700
Listed: Regulierter Markt in Düsseldorf, München; Freiverkehr in
Berlin, Stuttgart; Open Market in Frankfurt
End of News DGAP News-Service
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DGAP-Adhoc: Deutsche REIT AG outperforms 2007 earnings outlook
| Source: EQS Group AG