GWB Immobilien AG
GWB Immobilien AG: GWB is making progress with its development projects
GWB Immobilien AG / Key word(s): Interim Report 01.06.2011 / 08:30 Report on the first three months 2011 - Sales at EUR 1.8 million - EBIT slightly improved to EUR0.7 million - Start of construction work in Speyer Hamburg, June 1, 2011. In the first three months of the current fiscal year GWB Immobilien AG has concentrated on its development projects: In Speyer the construction work of the POSTGALERIE started and also the development of projects Völklingen, Wolfsburg and Heppenheim has continued to progress. The minor capital increase carried out in January 2011 further stabilises the liquidity position of the company. The sales generated by the Group amounted to EUR 1.8 million in the first three months of the financial year and were therefore EUR 0,5 million lower than in the same period the previous year. This was attributable to lower rental income due to the sale of properties in 2010. Rental income in the first quarter of 2011 amounted to about EUR 1.4 million (previous year: about EUR 2.1 million). Earnings improved compared to the previous year: The net income before taxes amounted to EUR -0,1 million (previous year: EUR -0,5 million) and the operating result (EBIT) improved from EUR0.6 million to EUR 0.7 million. 'Fortunately, after months of hard work, a start was made on POSTGALERIE Speyer - with an investment of EUR 44.3 million our biggest property,' states Dr Norbert Herrmann, CEO of GWB Immobilien AG. 'Further, we have managed to improve our results by operating economically and by making improvements in many functional areas.' The GWB Immobilien AG balance sheet total at Group level amounted to EUR 124.3 million on 31 March 2011, which was about EUR 0.6 million higher than in the 2010 financial year. About GWB Immobilien AG GWB is listed in the Prime Standard at Frankfurt Stock Exchange. Over a period of more than 15 years, the GWB corporate group has developed into a specialist for the implementation of large retail projects and for the revitalisation of retail properties. The focus is on medium-sized towns and suburban areas. The strength of the GWB business model is that the company acts as a single, integrated source for the provision of all the necessary services, covering the entire supply chain from project development and construction to marketing and management. More than 40 projects have been completed successfully. Further information is available on the company website www.GWB-Immobilien.de. Press inquiries: Kirchhoff Consult AG, Janina Wismar Phone: +49 (0) 40 60 91 86-50, janina.wismar@kirchhoff.de End of Corporate News --------------------------------------------------------------------- 01.06.2011 Dissemination of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- Language: English Company: GWB Immobilien AG Hauptstraße 1a 22962 Siek Deutschland Phone: +49 4107 9080-0 Fax: +49 4107 908072 E-mail: info@gwb-immobilien.de Internet: www.gwb-immobilien.de ISIN: DE000A0JKHG0, DE000A0JRVH4, DE000A0JRVJ0 WKN: A0JKHG Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, Hamburg, Stuttgart End of News DGAP News-Service --------------------------------------------------------------------- 127099 01.06.2011
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