Press release   
Paris, October 17, 2012

H1 2012/2013 consolidated sales

Today, Züblin Immobilière France announced its consolidated sales[1]:
#_ftn1 for the first half of the 2012/2013 financial year (04/01/2012 to 09/30/2012). As expected, sales came to ?8.5 million.

The financial information presented in this press release is unaudited and has not yet been presented to the Board of Directors.

 

Pierre Essig, CEO of Züblin Immobilière France, declared that "The Group's H1 activity reflects the decision made by Züblin Immobilière France to perform "Green" high-end renovation of 50% of its real estate portfolio. This initiative will have a significant impact on sales in the coming 2012 and 2013 quarters. In the long term, the Group thus expects to generate higher values for its shareholders and greater attractiveness for its current and potential tenants. For the portion of its portfolio in operation, the Group's efforts over this period are focused on maximizing occupancy rates and maintaining its tenants on the sites. For the portion of its portfolio undergoing renovation, Züblin Immobilière France is focused on ensuring timely and high-quality construction work, as well as on re-letting spaces as they become available."

 

Sales by quarter

In ? millions 2012/2013 2011/2012  (%)
Q1 (04/01 - 06/30)................................................. 5.1 6.2 -17.7%
Q2 (07/01 - 09/30)................................................. 3.4 5.7 -40.4%
Six-months total .................................................. 8.5 11.9 -28.6%

The breakdown of H1 consolidated sales for the current financial year (?8.5 million) is as follows:

  • Gross rental income amounted to ?4.8 million, down 56.2% compared to the same period in FY 2011/2012. This drop is primarily due to ongoing renovation projects on the Imagine and NEWTIME buildings.
  • Service charges re-invoiced to tenants amounted to ?3.7 million (?1.1 million in Q1 of FY 2011/2012). The increase in re-invoiced service charges recorded in the income statement is the accounting result of insourcing of property management for buildings in the Paris Region. Income that was previously accounted for directly in the Company's balance sheet is now recognized as re-invoicing income.

H1 2012/2013 results will be released on November 14, 2012.

Contacts
Eric Berlizon, CFO, Züblin Immobilière France
20-26, boulevard du Parc, 92200 Neuilly-sur-Seine
Tel: +33 (0)1 40 82 72 40, info@zueblin.fr:
mailto:info@zueblin.fr
More information is available on our website: www.zueblin.fr:
http://www.zueblin.fr/

Jérôme Goaër, Publicis Consultants, Financial communication
Tel: 33 (0)1 44 82 46 24, Email: jerome.goaer@consultants.publicis.fr:
mailto:jerome.goaer@consultants.publicis.fr

About Züblin Immobilière France
Züblin Immobilière France is a listed property company that has opted for SIIC status. The company invests in office properties, and features a real estate portfolio consisting of eight office buildings in Paris Region, Lyon and Marseille.
Shares of Züblin Immobilière France trade on compartment C of Nyse Euronext Paris - ISIN: FR0010298901

 

This press release is not intended for publication or distribution in the United States, the United Kingdom, Canada, Italy, Australia or Japan.
This press release is not intended as an offer or a solicitation to buy Züblin Immobilière France shares in the United States of America nor any other country where such an offer would be in breach of applicable laws and regulations. Züblin Immobilière France shares have not been, and will not be, registered under the United States Securities Act of 1933, as amended. Züblin Immobilière France does not intend to register Züblin Immobilière France shares under the US Securities Act of 1933 or to offer these shares for sale in the United States of America.
The shares are only available and may only be offered to or issued to those relevant persons who are legally authorized, and any offer, solicitation or agreement in view of a purchase of existing shares or an application for new shares can only be carried out with those who are legally entitled to do so.
Other persons should not act or rely on this press release. This document or any other document related to the company should only be distributed in accordance with the conditions above.
This document does not constitute an offer to sell or the solicitation of an offer to invest.
Distribution of this press statement in some countries can be a violation of applicable legislation.


[1]:
#_ftnref1Consolidated sales include gross rental income as mentioned in IFRS financial statements + service charges re-invoiced to tenants as stated in the individual financial statements of Group companies.

Zublin H1 2012/2013 sales:
http://hugin.info/154739/R/1650087/532083.pdf


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Source: Züblin Immobilière France via Thomson Reuters ONE
HUG#1650087