EANS-Adhoc: Warimpex Finanz- und Beteiligungs AG / First Quarter of 2010

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3-month report

27.05.2010

• Upward trend on the hotel markets in the second half of 2009
continued in

the first three months of 2010
• Markets in Poland, Germany and France stabilized
• Successful capital increase raises funds for development work in St.
Petersburg and Warsaw and for the launch of the budget hotel chain in CEE

|Key figures in EUR thousands |Q1/2010 |Change |Q1/2009
|
| | | |
|
|Revenues |20,351 |+38% |14,715
|
|Gains from the sale of project companies |3,112 |- |-
|
|EBITDA |4,287 |- |-3,840
|
|EBIT |2,910 |- |-7,316
|
|Profit for the period |-656 |- |-10,276
|
|Earnings/loss per share in EUR |-0.02 |- |-0.28
|

Vienna, 27 May 2010 - The second half of 2009 already brought a recovery on
most hotel markets. This trend continued into the current year, as can be seen
in the satisfying figures for the quarter. Warimpex Finanz- und Beteiligungs AG
achieved a 38 per cent increase in sales, pushing revenues to EUR 20.4 million.
EBIT also grew nicely to EUR 2.9 million, and EBITDA to EUR 4.3 million. The
sales growth was primarily due to revenues from the new hotels that opened in
Berlin and ?ód? in 2009 and that had a very good start, but revenues at hotels

in Poland, Germany and France also improved in like for like terms.
However, it will be some time before Prague and Bucharest see a
significant recovery. In the Development segment, financing has again
become available at reasonable terms and will allow us to move
forward with the planned projects.

After the transaction market came to a virtual standstill last
year, activity is slowly picking up again thanks to the
availability of financing for end investors, but there are still
relatively few large-scale deals.

Financial result Revenues from hotel operation increased from EUR
13.3 million in the first three months of 2009 to EUR 17.4
million, while revenues from the letting of offices and
development services increased from EUR 1.5 million to EUR 3
million. All in all, consolidated sales improved by 38 per cent from
EUR 14.7 million to EUR 20.4 million.

In the first quarter of 2010, Warimpex sold a 16.69 per cent
share in the Palais Hansen development project in Vienna for a
price of EUR 7.3 million. The profit from this transaction was EUR
3.1 million, and Warimpex still holds 9.88 per cent of the project.
No sales transactions were made in the first quarter of 2009.
Earnings before interest, taxes, depreciation and goodwill
amortization increased considerably from EUR -3.8 million in the
first quarter of 2009 to EUR 4.3 million in the reporting period,
and the operating result (EBIT) also surged from EUR -7.3 million
to EUR 2.9 million. The profit for the first quarter improved
significantly from EUR -10.3 million to EUR -0.7 million. The
cash flow from operations also grew nicely from EUR 0.9 million to
EUR 1.9 million.

Key events

In the Development & Asset Management segment, which comprises property
development and sales activities, the four-star angelo design hotel in
Katowice, Poland, was completed and opened on schedule. After openings in
Prague, Bucharest, Munich, Plzen and Ekaterinburg, this is already the sixth
angelo brand hotel overall and the first in Poland.

At the end of April (after the end of the reporting period), Warimpex completed

another capital increase on the basis of the authorization granted
for this in October 2009. Part of the issue proceeds from the 14.4
million new shares in the net amount of EUR 26 million will be
allocated to the current development work in St. Petersburg and
Warsaw and to the budget hotels. Another part will be used to
refinance existing short-term loans and to repay outstanding
liabilities, thereby improving the financing structure. This
capital increase also strengthened the shareholder base and
significantly increased the portion of shares in free float to over
40 per cent.

Outlook The current focus of the development activities is on the
completion of the Crowne Plaza Hotel and the office towers at
Airport City St. Petersburg and on the start of construction at the
Le Palais Office Building in Warsaw, as well as the start of
construction of the first budget hotels in the Polish cities of
Wroc?aw, Zielona Gora and Bydgoszcz. These first hotels of the
successful Louvre Hotel brands Campanile and Premiere Classe are to
be opened in 2011 and 2012. Further budget hotels are being planned
in Poland and Hungary.

end of announcement euro adhoc
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ots Originaltext: Warimpex Finanz- und Beteiligungs AG
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:

Warimpex Finanz- und Beteiligungs AG

Phone: +43 1 310 55 00

Christoph Salzer

mailto:presse@warimpex.com

Daniel Folian, mailto:investor.relations@warimpex.com

www.warimpex.com

Branche: Real Estate
ISIN: AT0000827209
WKN:
Index: ATX Prime
Börsen: Wien / official market