IC Immobilien Holding AG
IC Immobilien Holding AG: IC Immobilien Holding AG Concludes 2009 Financial Year with Positive Result
IC Immobilien Holding AG / Final Results 12.05.2010 13:50 Dissemination of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer / publisher is solely responsible for the content of this announcement. --------------------------------------------------------------------------- -Substantial resurgence in business during Q4 -Positive real estate valuation result -Further streamlining of cost structure -Positive outlook for 2010 Unterschleissheim near Munich, May 12, 2010 IC Immobilien Holding AG concluded its 2009 financial year with a positive result. The company marked its return to profitability with a profit of 12,000 Euros after a loss of nearly 7.7 million Euros in 2008. The company announced the news at a balance sheet press conference in Munich today. Further streamlining of cost structure, positive real estate valuation results The deconsolidation of participations caused the turnover to fall short of the previous year's figure by 12.6 million Euros. At the same time, the cost structure was further improved. Both sales costs and administrative overhead in 2009 substantially undercut the sum total of the previous year. The valuation result from real estate shows a gain of 301,000 Euros, following impairments in an amount of 8.1 million Euros the year before. The equity ratio rose from 23.4 percent to 26.4 percent year-on-year. Robust Business Performance during Q4 'With the evidence for a shift in trend having mounted during the second quarter of 2009, the business performance did gather momentum during the second half of the year. Especially in Q4, our turnover and our net income developed so positively that it ultimately defined the result for the entire year, and this even though the development at the start of the financial year had been very reticent,' said Dr. Oscar Kienzle, CEO of IC Immobilien Holding AG. 'We are pleased to say that the loss of last year has been succeeded by a positive result, even if this fall short of the mark we set for ourselves. Our consistent investments in our IT infrastructure have started to pay off, as we now have one of the most advanced systems on the market at our disposal. While the cost battle in the areas of asset management and property management has intensified, we decided not to forgo these investments.' Positive Outlook for 2010 In regard to the 2010 financial year, the executive board of IC Immobilien Holding AG assumes that sales will continue to grow, and that earnings will keep improving. The assessment of the current market environment is cautiously optimistic. Since many market players agree that the transaction volume on the real estate investment market most likely bottomed out in 2009, the board expects to see a noticeable expansion of transactions in the investment area along with corresponding positive effects for the sales and earnings performance of IC Immobilien Holding AG. About IC Immobilien Gruppe IC Real Estate Group focuses on real estate services for German and international institutional investors. In addition, it assumes management tasks both for real estate funds launched both in its own right and for third parties. At the end of 2009, the IC Group had approximately 5 billion Euros in assets under management. With nine branch offices and a staff of about 140 professionals, the company operates virtually nationwide. IC Immobilien Group manages a total of about 28,000 private and institutional investors. Stephan Holeczek IC Immobilien Holding AG Ohmstrasse 4 85716 Unterschleissheim, Germany Tel.: +49 (0)89 / 55 22 7 - 362 Fax: +49 (0)89 / 55 22 7 - 355 E-mail: investor.relations@ic-group.de 12.05.2010 Ad hoc announcement, Financial News and Media Release distributed by DGAP. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- Language: English Company: IC Immobilien Holding AG Ohmstraße 4 85716 Unterschleißheim Deutschland Phone: +49 (0)89 / 55227-362 Fax: +49 (0)89 / 55227-355 E-mail: stephan.holeczek@ic-group.de Internet: www.ic-group.de ISIN: DE0005632160 WKN: 563216 Listed: Freiverkehr in Berlin, München, Hamburg, Stuttgart; Open Market in Frankfurt End of News DGAP News-Service ---------------------------------------------------------------------------
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