Colonia Real Estate AG / Half Year Results 15.08.2008 Release of a Adhoc News, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- Solid Growth of Rental Income in First Half Increase of Rental Income reaches EUR 28.9mn (H1 2007: EUR 23.7mn) Group loss of EUR 2mn Adjustment of guidance in difficult market environment Cologne, August 15th 2008 Despite a solid growth in Rental Income Colonia Real Estate AG (ISIN: DE0006338007; WKN: 633800) shows a loss of EUR 2mn after an adjusted profit before revaluations of EUR 2.1mn in the same period last year. EBIT felt to EUR 5.618 compared to an adjusted EBIT before revaluations of EUR 11.54mn in the same period last year. Rental Income increased by 23.1% to EUR 28.9mn (H1 2007: EUR 23.7 Mio.). Net rents grew by 18.7% to EUR 18.4mn (H1 2007: EUR 15.5mn). Like-for-like rents increased from EUR 4.53 to EUR 4.62 per sqm (+1.92%). The vacancy decreased also on a like-for-like basis from 15.11% to 14.99%. Substantial modernisations will be completed in selected portfolios in the third quarter und further increase rents and decrease vacancy. The total income from the Asset and Fund Management division fell to EUR 3.7mn from EUR 9.4mn in the same period last year. Net income for the division declined to EUR 0.6mn (H1 2007: EUR 5.8mn). Particulary this sector has been affected by the poor transaction activity in a weak financing market. We expect an increase in the investment market in the second half of 2008 along with a substantial increase in revenues and profits in this division. Colonia Real Estate and its Co-Investment partners are currently looking at new investment opportunities in access of EUR 1bn. The placement of the nursery home fund 'CareConceptI' of Colonia Fund Management in cooperation with HGA Capital with a fund volume of EUR 78mn will be distributed in early September 2008. For the first time CRE group achieved a total income from single condominium sales of EUR 2.4mn. In relation with the significant increase of the residential portfolio in the last 12 months administration cost increased from EUR 9.9mn to EUR 15.6mn. Mark-to-market valuation of hedging instruments (interest rate swaps) lead to financial gains of EUR 16.6mn in the second quarter. Despite a challanging financing environment CRE group was able to refinance almost all short-term loans in the second quarter of 2008. The equity ratio remains at a solid 30.7%, just above the target corridor of 25 30%. Due to the high uncertainty in the current financial markets the company will conservatively adjust its annual guidance eliminating potential revaluation results in its forecast. The new guidance will be adjusted to a group net income of EUR 20 -25mn (previously EUR 72 75mn). A detailed analyst conference call takes place on the 15th of August 2008 at 11am CET. The entire report can be downloaded under under the following online address: http://www.cre.ag/121/Investor_Relations/Financial_Reports.htm . Contact: Stephan Rind CEO Colonia Real Estate AG Zeppelinstr. 4-8 50667 Köln Telefon: +49 (0)221 71 60 71 0 Fax: +49 (0) 221 71 60 71 99 E-Mail: ir@cre.ag PR and Press Contact: edicto GmbH Axel Mühlhaus Tel.: +49 (0) 69 9055055-2 amuehlhaus@edicto.de DGAP 15.08.2008 --------------------------------------------------------------------------- Language: English Issuer: Colonia Real Estate AG Zeppelinstr. 4 - 8 50667 Köln Deutschland Phone: +49 221-716071-0 Fax: +49 221-716071-99 E-mail: info@cre.ag Internet: www.cre.ag ISIN: DE0006338007 WKN: 633800 Indices: SDAX, GPR 250, MSCI Germany Small Cap Index, FTSE EPRA/ NAREIT, E&G DIMAX Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Hannover, München, Hamburg, Düsseldorf, Stuttgart End of News DGAP News-Service ---------------------------------------------------------------------------
DGAP-Adhoc: Colonia Real Estate AG: Solid Growth of Rental Income in First Half
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