DGAP-News: IFM Immobilien AG increases revenues to EUR 15.1 million

IFM Immobilien AG / Preliminary Results

13.03.2009 

Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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IFM Immobilien AG increases revenues to EUR 15.1 million  The project developer exceeds break-even according to preliminary
figures Group well positioned for the current fiscal year

Frankfurt am Main, March 13, 2009: IFM Immobilien AG, an investor and
project developer in commercial real estate with an emphasis on office and
retail properties, continued its successful development in 2008. According
to preliminary figures, the Group exceeded break-even, posting earnings of
EUR 0.3 million, despite high non-cash earnings from the valuation of
interest hedges. Revenues, mainly consisting of rental income, increased by
63.5 % to EUR 15.1 million (2007: EUR 9.3 million).

The successful business activities of the project developer are
demonstrated by the results from the fair valuation of investment
properties: It amounted to EUR 13.7 million, 2.5 times the amount reported
in 2007 (EUR 5.2 million). In contrast, non cash deferred taxes had an
impact of EUR -4.4 million, while the fair valuation of derivatives
employed to hedge interest rate risks, negatively impacted the Group result
with EUR -5.3 million against the backdrop of turmoil on interest rate
markets.

The positive development of revenues was driven by the consistent
advancement of the asset portfolio and the acquisition of 'Zeilgalerie' in
Frankfurt am Main, a high profile asset known throughout Germany. As a
result, Group assets for investment properties, held to generate rental
income and increase in value, rose to EUR 274.3 million as of December 31,
2008, compared to EUR 138.8 million on December 31, 2007. Properties under
development amounted to EUR 45.2 million at the end of the year 2008
(December 31, 2007: EUR 80.6 million).

Georg Glatzel, CEO of IFM Immobilien AG: 'IFM is in a position to react
flexibly to the challenges and needs of the market. This is also
demonstrated in the successful development in the fiscal year 2008, in
which we were able to exceed break even despite the challenging
environment. We therefore believe that we are well positioned to continue
this successful development in the current fiscal year 2009. In addition to
that, we are also actively scanning the market to tap the gains in value we
have achieved by pushing disposals.'

About IFM Immobilien AG: 
IFM Immobilien AG is an investor and project developer particularly engaged
in commercial real estate, with an emphasis on office and downtown retail
uses. In addition to conventional project development, its business also
includes redeveloping, restructuring and repositioning commercial
properties. The properties that IFM acquires generally stand out for what
IFM sees as an attractive risk-opportunity profile, extensive potential for
development and appreciation, and preferred locations. Applying this
strategy in combination with its core competences in redevelopment,
restructuring and repositioning, IFM Immobilien AG helps revitalize
properties, and thus generates what it believes will be sustainable
property values.



Contact:
For inquiries, please contact: 
Frank Elsner / Frank Paschen
Frank Elsner Kommunikation für Unternehmen GmbH
Tel: +49 (0) 5404 91 92 0
Fax:  +49 (0) 5404 91 92 29
office@elsner-kommunikation.de

Corporate contact information:
IFM Immobilien AG
Regine Liebl
Karl-Ludwig-Straße 2
69117 Heidelberg 
T. +49 (0) 6221 434098-0 
F. +49 (0) 6221 434098-66 
info@ifm.ag, www.ifm.ag

Ulmenstraße 23-25
60325 Frankfurt
+49 (0) 69 7040386-0
+49 (0) 69 7040386-25


DGAP 13.03.2009 
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Language:     English
Issuer:       IFM Immobilien AG
              Karl-Ludwig-Straße 2
              69117 Heidelberg
              Deutschland
Phone:        +49 (0)6221-434 098 0
Fax:          +49 (0)6221-434 098 66
E-mail:       welcome@ifm.ag
Internet:     www.ifm.ag
ISIN:         DE000A0JDU97
WKN:          A0JDU9
Listed:       Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
              in Berlin, Düsseldorf, Hamburg, Stuttgart
End of News                                     DGAP News-Service
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