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euro adhoc: CA Immobilien Anlagen Aktiengesellschaft / Financial Figures/Balance Sheet / Interim report as at 30 September 2008: GOOD OPERATING DEVELOPMENT - CONSOLIDATED NET INCOME AFFECTED BY DIFFI

Geschrieben am 28-11-2008


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Disclosure announcement transmitted by euro adhoc. The issuer is responsible
for the content of this announcement.
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quaterly report

28.11.2008

. 42 % increase in rental incomes, 27 % in EBITDA . Positive
contribution from property sales despite difficult climate . Negative
revaluation result in Eastern and South Eastern Europe in Q3 . 47 %
equity ratio and long-term loan agreements ensure healthy financial
base; long-term refinancing of Vivico acquisition loan secured

The positive operating development of CA Immo continued in the third
quarter despite the increasingly difficult market conditions. As a
result, rental income increased by 42 % from EUR 90.9 m (1-9 2007) to
EUR 129.5 m (1-9 2008). The growth resulted mainly from the Vivico
portfolio, which contributed to the rental income since the beginning
of the year. EBITDA increased by 27 % in comparison with the first
nine months of 2007 to stand at EUR 92 million. The figure includes
positive contributions from successful sales from the trading
portfolio (EUR 4.9 million) as well as the stock portfolio (EUR 11.2
million). These factors were counterbalanced by a negative
revaluation result (EUR -6.3 million as compared with EUR 47.7
million in the same period of 2007), deriving in particular from
market value adjustments in Eastern and South Eastern Europe.

In addition to the ongoing interest cost, the financial result for
the third quarter was adversely affected by several, mostly non-cash
factors (changes in the valuation of interest rate hedges, the rise
in the US Dollar, valuation losses from securities) and totalled EUR
-72.0 million for the first nine months of 2008. The figure for
income before taxes after nine months was EUR 10.0 million (1-9 2007:
EUR 86.6 million), consolidated net income after minority interests
EUR -2.2 million (1-9 2007: EUR 44 million). The net asset value
(NAV) per share as at 30.9.2008 was EUR 22.38 (31.12.2007: EUR
22.04). The operating cash flow increased by 11 % and stands at EUR
72.5 m.

On the reporting date, the equity ratio of CA Immo was 47 %. The net
debt of the Group as at 30.9.2008 was EUR 1.7 billion compared with
property assets of about EUR 4.1 billion. In addition, the short-term
financial liabilities arising from the acquisition financing for the
purchase of Vivico were rolled over into a long-term financing
structure as planned. For this a financing package in the amount of
EUR 330 million was concluded. The scheduled repayment of the
remaining liabilities is imminent.

More restrictive loan allocations by the banks have resulted in a
significant downturn in the volume of transactions on the European
property investment market. The lower liquidity of the market means
that property sales have become more difficult. Despite this
challenging climate, CA Immo was able to conclude substantial sales
in Germany in the third quarter, totalling over EUR 90 m, which have
contributed an important positive effect for the Group in terms of
both liquidity and income.

In view of the current major valuation discount at which the
subsidiary CA Immo International is traded on the stock market, a
further increase of the stake held (currently about 61 %) is being
considered.

Given the difficult situation on the financial markets an improvement
in the results in Q4 2008 is not realistic. From today's perspective,
the goal set at mid-year of exceeding the result for the first six
months in the second half of the year, will not be achievable -
particularly in view of the fact that income from property sales
originally planned is not expected to materialise and further
negative contributions from revaluations are conceivable. As no
easing of the market situation is currently in view, it is currently
not possible to make any concrete statement regarding a dividend
payment for 2008. A decision regarding the dividend proposal will
therefore be made in spring 2009 after presentation of the annual
financial statements.

Financial key figures


| | | |
|in EUR million |Q1-3 2008|Q1-3 2007 |
|Rental incomes |129.5 |90.9 |
|Net operating income |104.4 |81.9 |
|Result from the sale of properties|11.2 |5.7 |
|EBITDA |92.0 |72.2 |
|Revaluation gains/losses |-6.3 |47.7 |
|Operating result (EBIT) |82.0 |118.3 |
|Financial result |-72.0 |-31.6 |
|Net income before taxes (EBT) |10.0 |86.6 |
|Consolidated net income |-0.6 |70.1 |
|Consolidated net income, parent |-2.2 |44.0 |
|company | | |
|Result per share (in EUR) |-0.03 |0.59 |
|Operating cash flow |72.5 |65.6 |
|Rental income per share (in EUR) |1.5 |1.21 |
| | | |
| |30-9-08 |31-12-07 |
|Property assets (EUR million) |4,058.0 |2,535.4 |
|NAV per share (in EUR) |22.38 |22.04 |
|NNNAV per share (in EUR) |23.48 |22.51 |



end of announcement euro adhoc
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ots Originaltext: CA Immobilien Anlagen AG
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:

CA Immobilien Anlagen AG

Mag. Claudia Hainz

Tel.: 01/532 59 07-502

eMail: hainz@caimmoag.com



Mag. Florian Nowotny

Tel.: 01/532 59 07-518

eMail: nowotny@caimmoag.com

Branche: Real Estate
ISIN: AT0000641352
WKN: 064135
Index: Immobilien-ATX
Börsen: Wiener Börse AG / official market


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