euro adhoc: Vivacon AG / quarterly or semiannual financial statement / VIVACON AG boosts net income by 52% to EUR 31.7m in 9M 2007

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Disclosure announcement transmitted by euro adhoc. The issuer is responsible
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9-month report

12.11.2007

In 9M 2007, VIVACON AG (ISIN DE0006048911) sold a total of 7,528
residential and commercial units (9M 2006: 7,659) and thus reached a
transaction volume of EUR 342.6m (9M 2006: 352.4m). Revenues
according to IFRS increased by 49% to 117.8m (9M 2006: EUR 78.9m),
despite further investments in personnel and organisational
structures EBIT amounted to EUR 39.2m and reached almost the same
amount as last year (9M 2006: EUR 39.8m). Earnings from the creation
of new ground lease contracts are solely generated through sales to
third parties and do not represent write-ups of unsold residential
portfolios, which are recognized at their acquisition costs in the
balance sheet.

EBT increased by 12.7% to EUR 33.2m (9M 2006: EUR 29.5m) and net
income reached EUR 31.7m following EUR 20.9m in 9M 2006, which is an
increase of 52%. Earnings per share (undiluted) amounted to EUR 1.63
in 9M 2007 in comparison to EUR 1.08 in 9M 2006. By the end of
September 2007, the order backlog reached EUR 117.7m, which is an
increase of 53% against the EUR 76.9m at the end of September 2006.

In comparison to Q3 2006, in which the company sold two larger
portfolios in the institutional investor segment, no portfolio sales
were recorded in Q3 2007. The transaction volume therefore declined
to EUR 14.2m (Q3 2006: EUR 225.2m). Revenues in Q3 2007 reached EUR
60.3m (Q3 2006: EUR 30.3m), EBIT amounted to EUR 20.4m (Q3 2006: EUR
29.9m), EBT reached EUR 11.6m (Q3 2006: EUR 24.3m) and net income was
EUR 16.7m in Q3 2007 in comparison to EUR 17.1m in Q3 2006. In Q3
2007 the disolution of deferred tax provisions positively influenced
the tax result by approximately EUR 10m. Earnings per share
(undiluted) amounted to EUR 0.86 (Q3 2007) in comparison to EUR 0.89
in Q3 2006.

VIVACON AG owned 10,300 units at the end of September, of which - as
already announced - 1,000 units were sold in Q4. Currently, the
company is in advanced negotiations about disposals of several
thousand further units and expects deal closings in the coming weeks.
The management reiterates its communicated full-year guidance of a
net income of EUR 54-58m (FY 2006: EUR 45.9m).

EUR 10m or 31% of 9M EBT was already generated through asset returns
(net rents, ground leases) or asset management compensation with a
recurring character. Visibility of the full-year guidance increased
significantly by the published 9M results. At the end of September,
VIVACON AG generated more than 50% of estimated full-year net income,
which is very high in a historic comparison. (9M 2001-2006: below 20%
on average). The annual ground lease cashflow, which is marked by
long durations, high security and automatic inflation adjustments
amounted to approximately EUR 12m at the end of September.

Including further planned portfolio acquisitions, VIVACON AG expects
some 6,000 owned units at the end of the year. These units are
currently prepared for a sale in Q1 2008 by the inhouse asset
management team of the company. Management is very confident about
the future operating business of the company due the visibility of
the approximately EUR 118m order backlog at the end of September as
well as a concrete project pipeline in the landmark and development
segment of some EUR 173m.

end of announcement euro adhoc 12.11.2007 07:54:19
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ots Originaltext: Vivacon AG
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:
Michael Schroeder
+49 (0) 221 93761-256
michael.schroeder@vivacon.de

Branche: Real Estate
ISIN: DE0006048911
WKN: 604891
Index: CDAX, SDAX, Prime All Share, Classic All Share
Börsen: Börse Frankfurt / official dealing/prime standard
Börse Berlin / free trade
Börse Hamburg / free trade
Börse Stuttgart / free trade
Börse Düsseldorf / free trade
Börse München / official dealing