Bau-Verein zu Hamburg AG
Bau-Verein zu Hamburg AG: Bau-Verein zu Hamburg Aktien-Gesellschaft reporting increase in revenues and operating profit
Bau-Verein zu Hamburg AG / Half Year Results Release of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. ---------------------------------------------------------------------- (Hamburg, 21 August 2008) Bau-Verein zu Hamburg Aktien-Gesellschaft, Hamburg (Bau-Verein), which is a member of the TAG Tegernsee Immobilien- und Beteiligungs-Aktiengesellschaft Group, closed the second quarter of 2008 with further growth in its operating business. With the extensions made to its real estate portfolio and increase in rental income, it achieved a substantial increase in revenues over the year-ago period in tandem with improved profitability. Revenues climbed by 33 percent to EUR 32.6 million (previous year: EUR 24.5 million). Earnings before taxes rose from EUR 3.6 million in the previous year to EUR 6.1 million. Given this favourable performance, management still expects to close the year with a profit at the EBT level. However, the difficult conditions in the capital and financial markets will probably result in a figure slightly down on the previous year. Further details are contained in the press release which is being published at the same time. Bau-Verein zu Hamburg AG Head of Investor and Public Relations Kirsten Schleicher Tel. +49 (0) 40 380 32 300 Fax +49 (0) 380 32 388 pr@bau-verein.de 21.08.2008 Financial News transmitted by DGAP ---------------------------------------------------------------------- Language: English Issuer: Bau-Verein zu Hamburg AG Steckelhörn 5 20457 Hamburg Deutschland Phone: +49 (0)40 380 32-0 Fax: +49 (0)40 380 32-388 E-mail: info@bau-verein.de Internet: www.bau-verein.de ISIN: DE0005179006 WKN: 517900 Listed: Regulierter Markt in Frankfurt (Prime Standard), Hamburg; Freiverkehr in Berlin, Düsseldorf, München, Stuttgart End of News DGAP News-Service ---------------------------------------------------------------------------
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