ADLER Real Estate AG / Interim Report 15.05.2009 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 Reports Slight Growth in Sales - Write-downs increase size of net loss; - Insolvency plan procedure for DB Immobilien GmbH. Hamburg, 15 May 2009. Due to the very weak economy in the first quarter of 2009, the sales growth reported by ADLER Real Estate AG (ISIN DE0005008007), Frankfurt, was not enough to keep the company in the black. Although consolidated net sales rose to TEUR 630 in the first quarter of 2009 (up from TEUR 280 in the first quarter of last year), the company posted a consolidated net loss of EUR 1.147 million (compared to a loss of TEUR 732 in the first quarter of 2008). The sales growth was attributable to the sale of residential properties by ADLER subsidiary Münchener Baugesellschaft. The increase in the size of the company's net loss was largely due to a write-down on its minority interest in DB Immobilien GmbH, which has been forced to file for bankruptcy due to the nearly complete collapse of its brokerage business for commercial real estate. Nevertheless, DBI is seeking an insolvency plan procedure with a view towards remaining in business following a necessary restructuring process. Any marketing activities by DB Immobilien GmbH for Münchener Baugesellschaft which are already underway will continue unchanged. ADLER also continued to work on various projects during the reporting period. Some development plan procedures are already in their final stage, so that a number of transactions could be completed this year. As a result, ADLER Real Estate AG should be able to report positive net earnings in 2009. The Management Board If you have any questions, please contact: german communications dbk ag Jörg Bretschneider Alsterufer 34, 20354 Hamburg Phone: 040/46 88 33 0, Fax: 040/47 81 80 presse@german-communications.com DGAP 15.05.2009 --------------------------------------------------------------------------- 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 Reports Slight Growth in Sales
| Source: EQS Group AG