FranconoRheinMain AG
FranconoRheinMain AG publishing figures for the 2008 financial year
FranconoRheinMain AG / Final 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. ---------------------------------------------------------------------- Frankfurt am Main, April 06, 2009. FranconoRheinMain AG (ISIN DE000A0J2LC4), a portfolio holder specialised in residential property in Southwest Germany, generated consolidated earnings before interest and taxes (EBIT) of EUR 6.9 million according to IFRS in the 2008 financial year. EBIT reached EUR 11.7 million in the previous year. Rental income increased from EUR 6.4 million in 2007 to EUR 11.4 million. This increase can be attributed to the expanded property portfolio held by FranconoRheinMain. The portfolio increased from EUR 146.7 million at year-end 2007 to EUR 169.2 million at the end of 2008. Earnings from rental activities improved from EUR 4.4 million to EUR 7.6 million. Unrealized gains from revaluation of investment properties to fair value according to IAS 40 on balance amounted to EUR 2.3 million compared to EUR 9.7 million in the previous year. As a result of the expanded real estate portfolio financing expenses in the financial year 2008 increased to EUR 7.6 million, after EUR 2.7 million in the previous year. Earnings before taxes reached EUR -0.2 million compared to EUR 9.2 million in 2007. After tax payments of EUR 1.7 million FranconoRheinMain is reporting a loss of EUR 1.9 million in the financial year 2008. In the previous year the company achieved net income of EUR 6.2 million. Earnings per share amounted to EUR -0.07 after EUR 0.22 a year before. The complete financial statements are available for download on the company's website www.frm.ag from the April 08, 2009. Contact: FranconoRheinMain AG Carsten Heinrichs Weißfrauenstraße 12-16 60311 Frankfurt am Main Phone +49 (69) 255 346 200 E-Mail heinrichs@frm.ag edicto GmbH Dr. Sönke Knop Zeißelstr. 19 60318 Frankfurt am Main Phone +49 (69) 90 55 05 51 E-Mail sknop@edicto.de 06.04.2009 Financial News transmitted by DGAP ---------------------------------------------------------------------- Language: English Issuer: FranconoRheinMain AG Weißfrauenstraße 12-16 60311 Frankfurt Deutschland Phone: +49 (0)69 255 346 200 Fax: +49 (0)69 255 346 201 E-mail: info@frm.ag Internet: www.frm.ag ISIN: DE000A0J2LC4 WKN: A0J2LC Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, Stuttgart End of News DGAP News-Service ---------------------------------------------------------------------------
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