ADLER Real Estate AG / Half Year Results 14.08.2008 Release of a Adhoc News, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- ADLER Real Estate AG Expects Positive Overall Result - Semi-Annual Result Does Not Yet Reflect Successful Transactions Hamburg, 14 August 2008. ADLER Real Estate AG (ISIN DE0005008007), Frankfurt, managed to continue work on its real estate projects consistently and successfully in the first six months of 2008. In Asset Management, ADLER succeeded in optimizing the earnings from the properties acquired last year through new leases and extensions of lease contracts in portfolio. The successes experienced in Project Development were not yet reflected in the income statement for the first six months of the year. As of the end of June 2008, revenue therefore reached a scale of only EUR 0.57 million (previous year: EUR 4.12 million). Earnings resulted from asset and property management and rent income. Other operating income was EUR 0.114 million (previous year: EUR 9.20 million). No comparison with the first half of the previous year is possible due to the extraordinary transaction involving MÜBAU Real Estate GmbH. As a result of current expenses, there was a negative operating result of EUR 1.576 million (previous year: +EUR 7.70 million) and a consolidated loss of EUR 1.376 million (previous year: consolidated profit of EUR 7.60 million). Formed last year, the subsidiary Münchener Baugesellschaft mbH has performed successfully, making progress in various projects. The development work on the properties in Moosburg is already halfway completed. The first sales managed to be realized in August. In Dallgow and Großbeeren, the sales contracts for the first properties will be closed this year after a reorientation of the distribution channels. Substantial progress was made in development projects in the reporting period, some projects yielding optimal results. Acquired only about a year ago, the logistics center development project in Duisburg was sold in July of this year. The transaction will render a positive earnings contribution and have a clearly positive effect on ADLER's overall result in the course of the year. The Management Board For inquiries, please contact: german communications dbk ag Jörg Bretschneider Alsterufer 34, 20354 Hamburg Phone: +49 40/46 88 33 0, Fax: +49 40/47 81 80 presse@german-communications.com DGAP 14.08.2008 --------------------------------------------------------------------------- Language: English Issuer: ADLER Real Estate AG Neuer Wall 77 20354 Hamburg Deutschland Phone: +49 (0)40 - 29 8130-0 Fax: +49 (0)40 - 29 8130-35 E-mail: info@adler-ag.de Internet: www.adler-ag.de ISIN: DE0005008007 WKN: 500800 Listed: Regulierter Markt in Berlin, Frankfurt (General Standard), Düsseldorf, München; Freiverkehr in Hamburg End of News DGAP News-Service ---------------------------------------------------------------------------
DGAP-Adhoc: ADLER Real Estate AG: ADLER Real Estate AG Expects Positive Overall Result
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