Report on the 1st Quarter - Bankier.pl

More documents

Recommendations

Info

30 IMMOEAST AG REpORT On ThE 1 ST QuARTER AS Of 31 ST July 2009 4.6. Income taxes This item includes income taxes paid or owned by group companies as well as provisions for deferred taxes. All amounts in TEUR 1 May 2009 – 31 July 2009 1 May 2008 – 31 July 2008 Income tax expense -4,343.0 -7,790.2 Deferred taxes -21,320.4 32,165.0 TOTAL -25,663.4 24,374.8 Cash payments for income taxes totalled TEuR 3,174.0 for the reporting period. 5. notes to the Interim financial Statements The balance sheet total rose slightly by 1.7 % or EuR 186.1 million over the level at 30 April 2009. This increase resulted primarily from the recognition of hidden reserves in property under construction projects following the application of the revised IAS 40. The prior year data for the income statement and the cash flow statement are only comparable to a limited extent because the relevant amounts as of 31 July 2008 do not include the IMMOAuSTRIA regional segment. The operating strength of IMMOEAST AG is reflected in the solid development of financial indicators such as revenues, EBITDA and gross cash flow. Revenues amounted to EUR 162.2 million as of 31 July 2009 compared with EUR 84.7 million as of 31 July 2008, for an improvement of 91.6 %. After an adjustment for IMMOAuSTRIA, revenues rose by 1.8 %. EBITDA increased from EUR 33.7 million in the first quarter of the prior year to EUR 97.9 million. After an adjustment for the IMMOAuSTRIA regional segment, EBITDA rose by EuR 24.8 million or 73.6 % to EuR 58.5 million. Gross cash flow totalled EUR 82.8 million for the first quarter of 2009/10 (31 July 2008: EUR 25.5 million). Revaluation results amounted to EuR 7.3 million, and comprise minus EuR 124.0 million relating to IAS 40 properties as well as EUR 131.3 million for property under construction. The revaluations of EUR 139.0 million recognised to these development projects are contrasted by impairment charges of EuR 7.7 million, and resulted entirely from the change in IAS 40. The revaluation results and financial results reported by IMMOEAST AG for the first quarter of 2009/10 were strongly influenced by foreign exchange effects. After an adjustment for these foreign exchange effects, revaluation results equalled EUR 105.5 million and financial results minus EUR 21.5 million. IMMOEAST AG recorded a positive net profit of EUR 110.2 million as of 31 July 2009 (31 July 2008: minus EuR 52.6 million).
6. Subsequent Events Q1 fInAnCIAl STATEMEnTS The Executive Board amended the annual financial statements of IMMOEAST AG as of 30 April 2009 to reflect a release of EuR 174.9 million from reserves and EuR 48.5 million from the share premium account. furthermore, EUR 1,761.8 million were released from the appropriated share premium account. The consolidated financial statements of IMMOEAST AG as of 30 April 2009 were not affected by this adjustment, and there were no changes to consolidated profit or equity. 7. Statement by the Executive Board We hereby confirm to the best of our knowledge that these interim financial statements, which were prepared in accordance with the applicable accounting standards, provide a true and fair view of the financial position and financial performance of the Group. Vienna, 21 September 2009 The Executive Board Daniel Riedl MRICS Edgar Rosenmayr Eduard Zehetner Speaker of the Executive Board Manfred Wiltschnigg MRICS Michael Wurzinger MRICS 31
Page 1 and 2: Report on the 1 st
Page 3 and 4: Dear Shareholders, After a very dif
Page 5 and 6: DEVElOpMEnT Of BuSInESS Revaluation
Page 7 and 8: 8 7 6 5 4 3 2 1 0 01.01.09 Investor
Page 9 and 10: The Rental Market The economic cris
Page 11 and 12: SEGMEnT AnD pORTfOlIO REpORT SEGMEn
Page 13 and 14: IMMOAuSTRIA The office property at
Page 15 and 16: Consolidated Income Statement adjus
Page 17 and 18: Statement of Changes in Equity Fina
Page 19 and 20: Q1 fInAnCIAl STATEMEnTS IMMOAUSTRIA
Page 21 and 22: nOTES 1. Accounting and Valuation p
Page 23 and 24: 3. notes to the Balance Sheet 3.1.
Page 25 and 26: Q1 fInAnCIAl STATEMEnTS IMMOEAST al
Page 27 and 28: 3.8. Other liabilities All amounts
Page 29: 4.4. Other operating expenses 4.5.

Report on the 1st Quarter - Bankier.pl

Create successful ePaper yourself

Delete template?

Save as template?