Interim report as of 30 September 2009

Stable operative development

• Operative performance of third quarter in line with previous quarters
• Significant reduction of revaluation losses in Q3
• Increase of operating cash flow by 9 %
• 20.000 m² new leases and 36.000 m² renewals with existing tenants

Vienna, November 25 2009. The operative results of the third quarter are largely in line with the preceding quarters. The rental income of the CA Immo International Group increased by 1.2 % compared to the first nine months of the previous year and reached € 30.0 m. The implementation of cost cutting measures lead to a significant reduction of indirect expenditures, which decreased by 28.8 % to € -7.5 m. There were no sales of properties in the first nine months of 2009, while in the previous year property sales had contributed € 7.0 m to the result. Consequently EBITDA decreased (1-9/2009: € 20.1 m vs. € 26.0 m in 1-9/2008).
The revaluation result amounted to € -127.0 m. Of these non-cash changes in valuation € -24.1 m relate to Q3, showing a clear reduction of the revaluation losses compared to the previous quarters.
In addition to the financing costs of € -13.3 m, the financial result was also negatively impacted by non-cash negative effects from valuation changes of interest rate hedges and impairments of affiliated companies and therefore amounted € -19.7 m for the first nine months of 2009 (2008: € -2.8 m). Net income after minorities was € -106.6 m (2008: € 7.7 m). The operating cash flow, however, showed a significantly positive development and reached € 19.3 m, an increase of 9.0 % compared to the first nine months of 2008. ´

The equity ratio of CA Immo International at the balance sheet date reached 49.1 %. Net debt as of 30 September 2009 was € 240.8 m compared to a real estate portfolio of € 688.7 m. Net asset value (NAV) per share as of 30 September 2009 was € 9.73 (Dec 31 2008: € 12.20).
During the last months the business activity was mainly focused on lettings. In the first nine months of 2009 new leases for 20.000 m² as well as renewals and extensions of existing tenants of 36.000 m² were confirmed.

The financial report for the first nine months 2009 of CA Immo International AG is available on www.caimmointernational.com.


Key financial figures

in € million	1-9/2009	1-9/2008	change
Rental income	30.0	29.7	1.2%
Net operating income	26.2	28.1	-6.6%
Result from the sale of investment properties	0.0	7.0	n.a.
Indirect expenditure	-7.5	-10.5	-28.8%
EBITDA	20.1	26.0	-22.7%
Revaluation result	-127.0	-6.7	n.a.
EBIT	-107.0	17.8	n.a.
Financing costs	-13.3	-11.3	18.5%
Other financial result	-6.4	8.5	n.a.
Net income before taxes (EBT)	-126.7	15.0	n.a.
Consolidated net income	-115.0	5.6	n.a.
Consolidated net income, parent company	-106.6	7.7	n.a.
Result per share (in €)	-2.45	0.18	n.a.
Operating cash flow	19.3	17.7	9.0%
	30 Sept 2009	31 Dec 2008
Property assets	688.7	751.7	-8.4%
Total assets	906.7	996.2	-9.0%
Lt. financial liabilities	343.5	287.2	19.6%
St. financial liabilities	22.7	28.4	-20.1%
Cash and cash equivalents	125.3	148.8	-15.8%
Equity	445.1	558.5	-20.3%
Equity ratio	49.1%	56.1%	-7.0 pp
NAV per share (in €)	9.73	12.20	-20.2%
NNNAV per share (in €)	10.02	12.65	-20.8%

Please address any queries to:
CA Immo International AG
Florian Nowotny (Investor Relations)
Claudia Hainz (Investor Relations)
Tel.: +43 (0)1 532 59 07
Fax: +43 (0)1 532 59 07-595
e-mail: ir@caimmointernational.com
www.caimmointernational.com

 

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