DGAP-News: IFM Immobilien AG's Revenues Are Up in the First Quarter of 2009

IFM Immobilien AG / Interim Report

26.05.2009 

Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG.
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IFM Immobilien AG's Revenues Are Up in the First Quarter of 2009
A positive consolidated profit after taxes was achieved at EUR 0.5 million

Frankfurt am Main, May 26, 2009: IFM Immobilien AG continued a strong
performance in the first quarter of 2009 despite increasingly bleak
macroeconomic conditions. The commercial real estate investor and project
developer increased its consolidated revenue to EUR 5.0 million. A positive
consolidated profit after taxes resulted at EUR 0.5 million. Today, IFM
Immobilien AG published its interim report for the first three months of
2009 on the Internet (www.ifm.ag).

Georg Glatzel, CEO at IFM Immobilien AG: 'Our success in the first quarter
is proof of how strong our business model really is, even amid demanding
economic conditions. Real estate marketing, one of IFM's key competencies,
is becoming more and more important especially in difficult times. This is
because only if you stand out from the crowd can you achieve a leasing
success fast. We plan to concentrate on our ongoing development projects
along with leasing our existing properties in the coming months. All in
all, we feel that IFM is well prepared to continue its success in the
highly demanding real estate markets.'

Highlights of the year to date
In the first quarter of 2009, the company enjoyed a key leasing success
shortly after completion of the Romeo & Julia office towers in Frankfurt's
West End. The occupancy rate is currently at 35 percent. Another highlight
of the first quarter was the unveiling of the new development concept and
planned architectural changes for Frankfurt's 'Zeilgalerie' shopping
center.

Group revenue and results
The Group's revenue rose in the first quarter of 2009 by 45% to EUR 5.0
million (Q1 2008: EUR 3.4 million). This growth is due mostly to the
additional rental income from the Zeilgalerie, acquired in July 2008, as
well as the continued leasing success of other properties. The profit after
taxes totalled EUR 0.5 million, remaining at the level for the same quarter
in 2008. The earnings per share were equal to EUR 0.05 (same quarter for
2008: EUR 0.06).

Changes in Group balance sheet
The net asset structure of the IFM Immobilien Group as of March 31, 2009
was affected by the additional expansion of the property portfolio, in
contrast to the net asset structure reported at December 31, 2008. Total
assets increased to EUR 360.2 million from EUR 355.4 million at the
previous reporting date. Real estate assets increased from EUR 319.5
million to EUR 328.6 million.

Outlook
The Executive Board views the strong results of the first three months of
2009 as a solid foundation on which to continue this year. They expect to
see an additional increase in the Group's consolidated revenue for 2009
from last year's revenue.


About IFM Immobilien AG: 
IFM Immobilien AG is an investor and project developer involved
specifically in commercial real estate focusing on office and downtown
retail uses. Its business operations include redeveloping, restructuring
and repositioning commercial properties in addition to classic project
development activities. The property investments that IFM selects stand out
due to what IFM sees as an attractive risk/opportunity profile, great
potential for development and appreciation value in preferred locations.
Together with this strategy and the core competencies of redevelopment,
restructuring and repositioning, IFM Immobilien AG revitalizes properties
and creates 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
Ulmenstraße 22
60325 Frankfurt
T. +49 (0) 69 9686700-0
F. +49 (0) 69 9686700-25
welcome@ifm.ag, www.ifm.ag


Karl-Ludwig-Straße 2
69117 Heidelberg 
T. +49 (0) 6221 434098-0 
F. +49 (0) 6221 434098-66 



DGAP 26.05.2009 
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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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