EANS-Adhoc: CA Immo International AG publishes results for 2009

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ad-hoc disclosure transmitted by euro adhoc with the aim of a Europe-wide
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annual report

24.03.2010

Balance sheet for 31 December 2009
CA Immo International AG publishes results for 2009

• Rental income up 4.2 %
• Notably higher negative revaluation result
• CA Immobilien Anlagen AG offers voluntary bid to take over CA Immo
International shares in free float at EUR 6.50 per share

Vienna, 24.03.2010. Rental income for 2009 rose by 4.2 % to EUR 40.3
m, reflecting the completion of development projects and the first
time rental for the full year of projects completed during the
previous year. The significant reduction in indirect expenditure
(down 17.6 % from EUR 13.7 m in 2008 to EUR 11.3 m in 2009) stemming
from the implementation of cost cutting measures and the
discontinuation of costs associated with running a hotel in Ljubljana
(included in other administrative expenses in 2008) also had a
positive impact on the operating result. The decline in the EBITDA
from EUR 32.2 m in 2008 to EUR 24.9 m in 2009 was mainly the result
of profits from sales of EUR 7.0 m included in the previous year´s
result. Valuation-related charges in the income statement (i.e. the
revaluation result and impairments) increased from EUR -92.2 m in
2008 to EUR -152.0 m. Of this figure, around EUR -120.9 m related to
income-producing properties and EUR -31.1 m related to property
assets under development entered at fair value for the first time.
The main factor behind the value change was property yields, which
increased compared to the end of 2008 and thus forced down property
values. The devaluations principally affected Hungary (EUR -41.4 m)
and Romania (EUR -36.7 m). The considerable revaluation losses led to
a reduction in the EBIT, from EUR -62.0 m in 2008 to EUR -127.1 m in
2009. Financial results improved from EUR -32.7 m in 2008 to EUR
-22.9 m in 2009 owing to recoveries in local currencies and the US
dollar, and the reduced negative contributions to the result from the
valuation of financial assets and the result from affiliated
companies. However, these positive trends were counteracted by higher
financing costs (up EUR 2.2 m to EUR -18.2 m when the periods are
compared) as well as a negative result from derivative transactions
of EUR -2.2 m caused by the closure of interest rate swaps following
an early loan repayment. Earnings before taxes (EBT) amounted to EUR
-150.0 m in 2009, compared to EUR -94.7 m in 2008. The consolidated
loss after minorities rose substantially (from EUR -96.6 m in 2008 to
EUR -123.3 m) owing to unrealised revaluation losses shown in the
books. By contrast, operational business performance was reflected in
the rise in operating cash flow of around 3.5 % to EUR 23.5 m.

CA Immo International´s equity ratio stood at 48 % on the reporting
date. As of 31 December 2009, net debt was EUR 258.0 m (+54.7 %) with
property assets of approximately EUR 674 m. Liquid assets amounted to
EUR 115.9 m on 31 December 2009 (compared to EUR 148.8 m on
31.12.2008). Net asset value (NAV) per share was EUR 9.33 on the same
date (EUR 12.20 on 31.12.2008).

Voluntary takeover bid for free float shares of CA Immo International
AG CA Immo International AG hereby informs that CA Immobilien Anlagen
AG has announced its intention to offer a voluntary takeover bid to
the free float shareholders of CA Immo International AG. The offer
price will be EUR 6.50 in cash, equivalent to a premium of 22.6 % on
today´s closing price. At present, CA Immobilien Anlagen AG has a
63.05 % stake in CA Immo International AG (directly and indirectly);
after the offer, it intends to acquire full control over CA Immo
International AG by means of a squeeze out or merger. The bid will
not be dependent on securing a minimum acceptance threshold. The
bidding document, containing further details and provisions, is
expected to be published in calendar week 16 of 2010, subject to
approval by the Austrian Takeover Commission. Dr. Bruno Ettenauer,
Chief Executive Officer of CA Immo International AG and CA Immobilien
Anlagen AG, says that, "The plan to increase the share of CA
Immobilien Anlagen AG in CA Immo International AG with the aim of an
eventual de-listing will streamline the Group structure and improve
the flexibility of capital allocation in the CA Immo Group. Because
of developments on property markets in Eastern and South Eastern
Europe over the past two years, CA Immo International AG has not been
able to live up to the expectations raised at the time of the IPO in
autumn 2006. The share in particular has been affected by reduced
liquidity on the stock market. For this reason, CA Immobilien Anlagen
AG intends to offer a fair exit opportunity (measured against the
current share price) to free float shareholders of CA Immo
International AG with a cash offer of EUR 6.50 per share."

The 2009 financial report for CA Immo International AG has been
published on the web site www.caimmointernational.com.

Selected financial indicators

| | | | |
|EUR m |2009 |2008 |Change |Q4 |Q4 |
| | | | |2009 |2008 |
|Rental income |40.3 |38.7 |4.2 % |10.3 |9.0 |
|Net operating income |34.7 |37.2 |-6.7 % |12.9 |11.9 |
|Result f. sale of inv. |-0.1 |7.0 |n.a. |-0.1 |0.0 |
|Properties | | | | | |
|Indirect expenditure |-11.3|-13.7|-17.6 %|-3.8 |-3.1 |
|EBITDA |24.9 |32.2 |-22.6 %|4.8 |5.5 |
|Depreciation |-0.1 |-47.6|n.a. |0.0 |-46.1 |
|Result from revaluation |-152.|-46.7|n.a. |-24.9 |-39.9 |
| |0 | | | | |
|EBIT |-127.|-62.0|105.0 %|-20.1 |-80.6 |
| |1 | | | | |
|Financing cost |-18.2|-16.0|-13.6 %|-4.8 |-4.7 |
|Other financial result |-4.7 |-16.7|n.a. |-2.1 |-25.2 |
|EBT |-150.|-94.7|-58.3 %|-27.1 |-110.5|
| |0 | | | | |
|Result for the period |-134.|-117.|-14.5 %|-23.3 |-123.8|
| |5 |5 | | | |
|Net Income (after |-123.|-96.6|-27.7 %|-20.4 |-105.0|
|minorities) |3 | | | | |
|Earning per share (in EUR) |-2.84|-2.22|-27.7 %| | |
|Operative Cash-flow |23.5 |22.7 |3.5 % | | |
| | | | |
| |31.12|31.12| |
| |. |. | |
| |2009 |2008 | |
|Property assets |674.0|751.7|-10.3 %|
|Total assets |882.8|996.2|-11.4 %|
|L.t. financial liabilities|310.7|287.2|8.2 % |
|S.t. financial liabilities|63.3 |28.4 |122.6 %|
|Cash and cash equivalents |115.9|148.8|-22.1 %|
|Equity |424.6|558.5|-24.0 %|
|Equity ratio |48 % |56 % |8.0 pp |
|NAV per share (in EUR) |9.33 |12.20|-23.5 %|
|NNNAV per share (in EUR) |9.59 |12.65|-24.2 %|

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

Further inquiry note:

CA Immo International AG

Mag. Florian Nowotny (Investor Relations)

Mag. Claudia Hainz (Investor Relations)

Tel.: +43 (0)1 532 59 07-593

Fax: +43 (0)1 532 59 07-595

e-mail: ir@caimmointernational.com

www.caimmointernational.com

Branche: Real Estate
ISIN: ATCAIMMOINT5
WKN: A0LBUV
Index: WBI, ATX Prime
Börsen: Wien / official market