EANS-News: Grand City Properties S.A.: H1 2012 reviewed financial results show strong operational performance (with document)

--------------------------------------------------------------------------------
Corporate news transmitted by euro adhoc. The issuer/originator is solely
responsible for the content of this announcement.
--------------------------------------------------------------------------------

6-month report

Luxembourg (euro adhoc) - Grand City Properties S.A.: H1 2012
reviewed financial results show strong operational performance ------
---------------------------------------------------------------------
--- - Strong interim performance in the first half of 2012 with
reported post-tax profit of EUR 36.5 million for the six months ended
June 30, 2012

- Robust growth with shareholder equity value of EUR 130.1 million --
---------------------------------------------------------------------
-------

Luxembourg, 25 September 2012 - Grand City Properties S. A. has
completed the first half-year of 2012 with a strong reported
operating profit of EUR 54.4 million and post-tax profit of EUR 36.5
million (including minority interest).

The Company consolidated revenues came to EUR 18.3 million, while the
capital gains from revaluation of property portfolio and sales of
properties came to EUR 45.7 million.

The investment portfolio grew by 29% compared to the end of 2011 to
EUR 341.7 million. Total equity increased to EUR 130.1 million
(including minority interest).

During the reporting period, the Company took over 3,461 residential
units in North-Rhein Westphalia region.

Subsequent to the period-end, the Company successfully completed a
capital increase against contribution in cash, with a total of 5.5
million of new shares issued and gross proceeds of EUR 15.125 million
received from strategic institutional investors.

With LTV of [48%] the company maintains a sound balance sheet
structure and remains solid with long term financing.

About GRAND CITY PROPERTIES S.A.

Grand City Properties S.A. is a residential property investment
company with main focus on residential investments in Germany. The
group buys, redevelops, turns around and optimizes residential
properties throughout Germany.

Contact:

Grand City Properties S.A.
6, boulevard Pierre Dupong
L 1430 Luxemburg

www.grandcityproperties.com

Attachments with Announcement:
----------------------------------------------
http://resources.euroadhoc.com/us/5VgMedTT

Further inquiry note:
Herr Christian Hupfer
Tel.: 004930887088192
E-Mail: christian.hupfer@grandcityhotels.com

end of announcement euro adhoc
--------------------------------------------------------------------------------

Attachments with Announcement:
----------------------------------------------
http://resources.euroadhoc.com/us/5VgMedTT

company: Grand City Properties S.A.
boulevard Pierre Dupong 6
D-L-1430 Luxembourg
phone: 0035226187379
FAX: 0035226187779
WWW: http://www.grandcityproperties.com
sector: Financial & Business Services
ISIN: LU0775917882
indexes: Entry Standard Index
stockmarkets: Open Market: Frankfurt
language: English