Press release   
Neuilly-sur-Seine, April 17, 2013

FY 2012/2013 consolidated sales

Today, Züblin Immobilière France announced its consolidated sales[1]:
#_ftn1 for the 2012/2013 financial year (04/01/2012 to 03/31/2013). As expected, sales came to ?14.9 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, stated that "Züblin Immobilière France exhibited very strong activity over the 2012/2013 financial year. The Group secured the occupancy rate for all of its buildings on operation and continued work on major high-end refurbishment initiatives for the two buildings located on Île de la Jatte, Imagine and NEWTIME. Furthermore, Züblin Immobilière France seized a market opportunity to dispose of the Suresnes building, which had generated the maximum possible yield for our shareholders. Every effort is being made to ensure that both the asset portfolio and our financial structure will be optimized upon the delivery of NEWTIME, still scheduled for March 2014, thus guaranteeing the highest return on investment. With this in mind, a sales mandate has been signed for the "Le Danica" building, a particularly sought-after asset thanks to its location in the heart of Lyon's La Part-Dieu business district, as well as the excellent credit standards of its tenants. Given the changes in the scope of consolidation that have been initiated and, in some cases, brought to fruition, no meaningful comparison is possible between financial years 2012/2013 and 2011/2012. Züblin Immobilière France is fully committed to an ambitious investment program with high added value, and is taking the necessary steps to achieve its ambitions."

 

Sales by quarter

In ? millions 2012/2013 2011/2012 Var (%)
Q1 (04/01 - 06/30)................................................. 5.1 6.2 -17.7%
Q2 (07/01 - 09/30)................................................. 3.4 5.7 -40.4%
Q3 (10/01 - 12/31) 3.3 5.2 -36.5%
Q4 (01/01 - 03/31) 3.1 2.9 +6.9%
2012/2013 Total.................................................... 14.9 20.0 -25.5%

The breakdown of FY 2012/2013 consolidated sales (?14.9 million) is as follows:

  • Gross rental income amounted to ?9.4 million, down 48.0% compared to FY 2011/2012, mainly due to ongoing renovation projects on the Imagine and NEWTIME buildings.
  • Service charges re-invoiced to tenants amounted to ?5.5 million (?1.9 million for 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.

The Company's FY 2012/2013 results will be released on May 15, 2013.


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/

Caroline Decaux, Publicis Consultants, Financial communication
Tel: 33 (0)1 44 82 46 38, Email: caroline.decaux@consultants.publicis.fr:
mailto:caroline.decaux@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 seven 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 FY 2012/2013 consolidated sales:
http://hugin.info/154739/R/1693897/556958.pdf


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Source: Züblin Immobilière France via Thomson Reuters ONE
HUG#1693897