Madison Property AG
Madison Property AG: Pre-sales affected by challenging market environment
Madison Property AG / Key word(s): Change in Forecast 06.03.2012 10:15 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. --------------------------------------------------------------------------- Madison Property AG: Pre-sales affected by challenging market environment Berlin/Frankfurt, March 06, 2012 - Due to lower than expected pre-sales in the third quarter of the financial year 2011/12, it is likely that Chinese property developer Madison Property AG (ISIN DE000A0V9KR3 / WKN A0V9KR / Ticker MPD) will not meet its guidance for the full financial year. Up until now, the guidance envisaged a turnover of RMB 1.0 billion (about EUR 104 million) and a net profit margin of 12 to 14%. After having secured pre-sales of around 60% of the full year sales target in the first half of the financial year 2011/2012, Madison Property registered an additional pre-sales of less than 10% of the full year sales target during the recent third quarter. This decrease in pre-sales resulted from the enforced macro-control measures for the real estate market implemented by the Chinese government. Although no signal of easing of such measures have been noticed yet by the company, the upcoming meetings of the National People's Congress and the CPPCC National Committee held in March, could lead to some degree of easing. As the construction of the real estate projects is progressing as planned and a relaxation of the challenging market environment might still occur, the management team is still trying to achieve its annual targets and has decided not to publish a detailed new guidance for the full year 2011/2012. --------------------------------------------------------------------------- Information and Explaination of the Issuer to this News: About Madison Property AG Madison Property AG is a German stock corporation under the laws of Germany with its legal seat in Berlin. It is the holding company of Madison Property Group Limited which operates as a large-scale property developer with its local subsidiaries in China, mainly in the Shandong Province and the municipality of Chongqing. Founded in 1998, Madison already completed and successfully sold 17 projects/project phases. It is focused mainly on residential properties with high quality and travel as well as leisure properties. Madison is recognised as a Class I property developer by the People's Republic of China Ministry of Housing and Urban-Rural Development and can therefore undertake projects nationwide without limitation on the construction scale. For further information please contact: Kirchhoff Consult AG Sebastian Bucher T: +49 40 60 91 86 18 F: +49 40 60 91 86 60 E-Mail: sebastian.bucher@kirchhoff.de or visit www.madison-property.com Disclaimer This publication constitutes neither an offer to sell nor a solicitation to buy securities of Madison Property AG. This document is not an offer of securities for sale or a solicitation of an offer to purchase securities in the United States. The shares of Madison Property AG (the 'Shares') have not been registered under the U.S. Securities Act of 1933, as amended (the 'Securities Act') and may not be offered or sold in the United States unless registered under the Securities Act or pursuant to an exemption from such registration. There will be no public offering of the Shares in the United States and the Shares will not be registered under the Securities Act. This document is only being distributed to and is only directed at (i) persons who are outside the United Kingdom or (ii) to investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the 'Order') or (iii) high net worth entities, and other persons to whom it may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order (all such persons together being referred to as 'relevant persons'). The Shares are only available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such securities will be engaged in only with, relevant persons. Any person who is not a relevant person should not act or rely on this document or any of its contents. 06.03.2012 DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de ---------------------------------------------------------------------------
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