DGAP-News

IFM Publishes its Figures for Q3 2014

DGAP-News: IFM Immobilien AG / Key word(s): 9-month figures/Quarter
Results
IFM Publishes its Figures for Q3 2014

20.11.2014 / 08:26

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Frankfurt am Main, 20 November 2014 - The German group IFM Immobilien AG
concluded the first nine months of its 2014 financial year with a negative
result, but still expects to end the year as a whole with a positive
result. On the one hand, the sale of properties as planned caused the rent
revenues to decline while also reducing the mark-to-market valuation gain
for the investment properties. On the other hand, the subsequent costs for
the fire prevention and protection systems of the "Zeilgalerie" property in
Frankfurt am Main that was sold by IFM negatively impacted the net income.
The operating profit (earnings before taxes) amounted to EUR -5.1 million
(previous year: EUR 2.3 million). The consolidated income amounted to EUR
-3.9 million (previous year: EUR 0.5 million). The consolidated revenues
for the first nine months of 2014 dropped by 34 % down to EUR 8.1 million
year on year (previous year: EUR 12.2 million). The quarterly report
including the full-length consolidated financial statements of IFM
Immobilien AG for the first nine months of 2014 was published online today
(go to www.ifm.ag).

Volker de Boer, Member of the Board of IFM Immobilien AG: "During the first
nine months of the 2014 financial year, the operative activities of IFM
Immobilien AG continued to show a stable performance, even though the
nine-month revenue was negative at EUR -3.9 million. The reason for this
continues to be the subsequent costs of the fire-proofing measures
undertaken at the sold property "Zeilgalerie." The extensive, contractually
agreed works are ongoing but expected to be completed by the end of the
year.
Meanwhile, the optimisation of our portfolio continues. We are currently in
the process of negotiating additional property sales. Accordingly, we have
reason to believe that we will be able to realise the next transactions in
the coming months. We also continued our efforts to let available space in
our properties. At "GutenbergPark" in Mainz, we signed new leases, pushing
the occupancy up to around 79 %. At our property "MAXXON" in Frankfurt,
just 5 % of the floor area are still to let. In the area of property
developments, we currently focus our activities on the capital works
project "Kureck" in Wiesbaden. Working in close coordination with the
municipal authorities, we intend to create the preconditions for a speedy