pta20100825026
Public disclosure of inside information according to article 17 MAR

CA Immo International AG: Half year report as of 30 June 2010

Vienna (pta026/25.08.2010/18:15 UTC+2) Improvement of operating result for CA Immo International AG

Vienna, 25/8/2010. During the first half of 2010, rental income increased by 14.0 % to stand at
Eur 22.7 m on account of completions in the past year. A further 8.9 % reduction in indirect expenditures to Eur 4.5 m also had a positive effect on the operating result. The revaluation result for the first half of 2010 was Eur -3.4 m, well below the value for the first six months of last year (Eur -102.9 m). The revaluation losses were the result of value changes on specific properties, while the overall valuation level has stabilised to a large extent. Thanks to the improvement in the revaluation result, the EBIT recovered substantially, climbing from Eur -89.5 m in the first half of 2009 to Eur +13.0 m. The financial result was Eur -5.4 m for the first half of 2010, compared to Eur -13.6 m in the first six months of 2009. The consolidated profit (after minorities) stood at Eur 6.3 m, compared to Eur -80.8 m in 2009.
As of the reporting date, the equity ratio of CA Immo International was 49 %. Net debt was Eur 242.8 m on 30 June 2010, with property assets of Eur 680.2 m. Cash and cash equivalents amounted to Eur 113.4 m on 30 June 2010 (against Eur 115.9 m on 31/12/2009). The Net Asset Value (NAV) per share stood at Eur 9.42 on 30 June 2010 (compared to Eur 9.33 on 31/12/2009).

As already stated last week in an ad hoc announcement following the end of the extended acceptance period of the voluntary takeover bid, CA Immo Anlagen AG now holds a stake of 97.14 % in CA Immo International AG. As a next step it is planned to merge CA Immo International AG as the transferor company with CA Immobilien Anlagen Aktiengesellschaft as the acquiring company with retroactive effect back to 31.12.2009 ("effective merger date"). The proposed merger should take place on the basis of an exchange ratio, which is calculated based on the NAVs as of 30 June 2010, of 10 CA Immobilien Anlagen AG shares for 19 CA Immo International shares. An extraordinary shareholder's meeting to vote on the proposed merger is planned for 27 September 2009. All relevant merger documents, especially the joint report on the merger by the executive boards as well as the report by the joint merger-auditor, can be downloaded at the company's website www.caimmointernational.com.

The financial report for CA Immo International AG for the period to 30 June 2010 is published on the company's web site (www.caimmointernational.com).

Selected financial performance indicators

Eur mH1 2010H1 2009ChangeQ2 2010Q2 2009Change
Rental income22.719.914.0%11.610.115.7%
Net operating income19.317.411.1%10.08.813.9%
Indirect expenditures-4.5-5.0-8.9%-2.5-2.7-7.3%
EBITDA16.413.521.3%8.67.023.9%
Revaluation result-3.4-102.9-96.7%4.7-43.6n.a.
Operating result (EBIT)13.0-89.5n.a.13.3-36.7n.a.
Financing costs-9.5-8.413.1%-4.8-3.4n.a.
Other financial income/expense4.1-5.2n.a.0.7-3.4n.a.
Net earnings before tax (EBT)7.5-103.0n.a.9.3-43.6n.a.
Result for the period6.1-86.0n.a.10.2-36.1n.a.
Consolidated net income (parent company)6.3-80.8n.a.9.8-34.3n.a.
Earnings per share (in Eur)0.15-1.86n.a.

Eur m30/6/201031/12/2009Change
Property assets680.2674.00.9%
Total assets875.2882.8-0.9%
Long-term financial liabilities333.9310.77.5%
Short-term financial liabilities22.263.3-64.9%
Cash and cash equivalents113.4115.9-2.2%
Shareholders' equity429.3424.61.1%
Equity ratio49%48%-1pp
NAV per share (in Eur)9.429.331.0%
NNNAV per share (in Eur)9.669.590.7%

(end)

Emitter: CA Immo International AG
Mechelgasse 1
1030 Wien
Austria
Contact Person: Mag. Claudia Hainz
Phone: (+431) 532 59 07 - 502
E-Mail: hainz@caimmointernational.com
Website: www.caimmointernational.com
ISIN(s): ATCAIMMOINT5 (Share)
Stock Exchange(s): Vienna Stock Exchange
|