IMMOFINANZ AG generated an outstanding result again in the third quarter of the current business year (May 1, 2006 to April 30, 2007). The profit situation further improved, while the company successfully maintained its high growth rates of previous periods.

The most important profit figure, the operating profit (EBIT), rose by 49.7 percent from 310.2 million euro to 464.5 million euro in the first three quarters of the current fiscal year compared to the first three quarters of the 2005/06 fiscal year. Earnings before tax (EBT) rose almost as much with an increase of 44.1 percent, reaching 447.9 million euro after 310.8 million euro the same period the year before. Gross cash flow improved by 51.7 percent from 91.9 million euro to 139.4 million euro. The net asset value per share also increased 29.4 percent to 11.53 euro, partly due the solid performance of IMMOEAST’s share price.

Revenues also substantially rose. At 375.3 million euro, an increase of 32.2 percent was achieved compared to the previous year’s figure of 283.8 million euro. This is remarkable above all because it was achieved in spite of the considerable expansion in the share of investments in development projects, with which revenues can only be generated in subsequent periods.

The growth of the real estate portfolio was even more substantial, with fair value more than doubling with an increase of 104.2 percent. The fair value of the portfolio had already reached 13.3 billion euro at the end of the third quarter, up from 6.5 billion one year before.

“IMMOFINANZ has managed to combine strong growth of revenues with further improvement in the profit situation,” Chairman Karl Petrikovics points out. “This underscores the quality of the existing portfolio and the fact that our asset managers have succeeded in carrying out extremely attractive new investments.”