DGAP-News: ISARIA Wohnbau AG / Key word(s): 9-month figures/Change in
Forecast
ISARIA Wohnbau AG: ISARIA Wohnbau AG anticipates a strong final
quarter and has increased its sales and profit-and-loss forecast for
2014
07.11.2014 / 11:47
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Corporate News
1st - 3rd quarter 2014
ISARIA Wohnbau AG anticipates a strong final quarter and has increased its
sales and profit-and-loss forecast for 2014
- According to plan, sales revenues in the third quarter were at a low
level
- Construction for planned handovers in Q4 progressed according to plan
- Sale of property following completion of the project development phase
in Q4 increases the sales and profit-and-loss forecast for 2014 as a
whole
07 November 2014 - ISARIA Wohnbau AG, one of the leading project developers
for residential real estate in Munich, released its figures for the first
nine months of 2014. As, according to plan, no construction stage was
handed over in the third quarter, the company only generated revenues of
approximately EUR 6.5 million from individual handovers. It is therefore
reporting a temporarily negative result of EUR 1.8 million for the first
nine month period. In the fourth quarter, handovers for numerous - high
margin - construction stages will be carried out according to plan.
"Currently, a total of 254 residential units are being built at the large
Nido construction site in Karlsfeld. Providing no early onset of winter
conflicts with our plans, we will generate revenues of approximately EUR
100 million as projected at the beginning of the year solely from handovers
to private buyers in 2014", explains Michael Haupt, spokesman of the
Executive Board of ISARIA Wohnbau AG.
Forecast for 2014
As disclosed in an ad-hoc press release on Wednesday, 05 November 2014, the
company has, following successful completion of the project development
phase, sold the property this week via its participation in a project
company. The Executive board expects the purchase agreement to be concluded
in the months to come and the handover of the property in
München-Bogenhausen by the end of 2014. The company now expects revenues of
up to EUR 150 million for the Group in 2014 and a result after tax
corresponding to a high single-digit million-euro figure.
High level of orders booked for 2015
The company is entering the last quarter of the year with an order book of
notarised sales in the amount of EUR 109 million. This order book secures
future revenues. A good 80% of the revenues planned for 2015 from the sale
of residential units have already been notarised.
Further details can be found in the quarterly report as of 30 September
2014 published today on www.isaria.ag
About ISARIA Wohnbau AG
ISARIA Wohnbau is a leading project developer for residential construction
projects in Munich. The company was founded in 1995 and has been listed in
Deutsche Börse's Prime Standard since 2010. The range of projects realised
includes multi-storey apartments and terraced houses, through to the
revitalisation of existing buildings, which means that ISARIA Wohnbau can
offer residential properties to meet the needs of a wide variety of
customer groups as both owner-occupied properties or for investment Since
the end of 2013, Hamburg-based One Group GmbH together with its
subsidiaries has been part of the ISARIA Group. The business activities of
One Group GmbH and its subsidiaries mostly comprise the issue of project
development funds for residential construction projects. For more
information, please visit www.isariaag and www.onegroup.ag
IR-Contact
ISARIA Wohnbau AG
LeopoldstraÃe 8 | 80802 Munich
Phone: +49 (0)89 38 99 84-310 | Fax: +49 (0)89 38 99 84-760
E-mail: v.gerber@isaria-wohnbau.de | Web: www.isaria..ag
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07.11.2014 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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Language: English
Company: ISARIA Wohnbau AG
LeopoldstraÃe 8
80802 München
Germany
Phone: +49 (0)89 38 99 84-0
Fax: +49 (0)89 38 99 84-760
E-mail: info@isaria-wohnbau.de
Internet: www.isaria-wohnbau.de
ISIN: DE000A1E8H38
WKN: A1E8H3
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, München, Stuttgart
End of News DGAP News-Service
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295795 07.11.2014
DGAP-News: ISARIA Wohnbau AG: ISARIA Wohnbau AG anticipates a strong final quarter and has increased its sales and profit-and-loss forecast for 2014
| Source: EQS Group AG