IFM IMMOBILIEN AG 
By • Operating profit at EUR 2.3 million (same semester last year: EUR 4.3 million)
• Consolidated profit at EUR 0.4 million (same quarter last year: EUR 2.8 million)
• Earnings per share at EUR 0.04 (same quarter last year: EUR 0.30)
Frankfurt am Main, 22 August 2013 - At the end of the first semester of its 2013 fiscal year, IFM Immobilien AG Group reported a consolidated profit of EUR 0.4 million (same quarter previous year: EUR 2.8 million). The operating profit (earnings before taxes) for the period under review totalled EUR 2.3 million. The year-on-year decline (down from EUR 4.3 million) is mainly due to the fact that the result from the assessment of investment properties, which includes realised investments and successful lettings at the various properties, was diminished by the disposal of the "Romeo & Julia" property in Frankfurt am Main. Moreover, the mid-year result was impairedby expenditures in connection with the implemented restructuring measures. The Group's consolidated revenues totalled EUR 8.4 million at the end of the first six months of 2013, down from EUR 9.6 million for the same quarter last year. The full-length interim report of IFM Immobilien AG Group for H1 2013 was published on the company's homepage today (www.ifm.ag).
Said Volker de Boer, CEO of IFM Immobilien AG: "The first semester of our financial years was defined, on the one hand, by a robust development of our operative business. On the other hand, we pursued and concluded extensive restructuring processes in the group, such as the outsourcing in the areas Accounting and Property Management, as well as the outsourcing of the document management. We have made great progress in our efforts to make the IFM Group leaner, more agile and more competitive. Combined with the Group's then-as-now very sound wealth and finance situation, which continued to improve quarter on quarter, the mid-year result reflects the successful implementation of the restructuring plans, on the one hand, while representing a robust foundation for the things we will seek to accomplish in the months to
come. We are convinced that the successful restructuring along with the sound operative development of the coming quarters will translate into a corresponding earnings performance that will be reflected not just in the positive year-end result of the current financial year, but also
in enhanced earnings during the 2014 financial year."
Press Release, IFM Immobilien AG, 22 August 2013
Page 1 of 3
Performance of Group Revenue and Consolidated Profit
The drop in consolidated revenues from EUR 9.6 million to EUR 8.4 million is primarily explained
by the fact that rental income and revenues from the allocation of ancillary costs were reduced by the disposal of the "Romeo & Julia" property in Frankfurt. Rental income added up to EUR 5.2 million during the semester under review (H1 2012: EUR 6.3 million), whereas the result from the assessment of investment properties equalled EUR 3.6 million (H1 2012: EUR 5.2 million). IFM achieved a consolidated profit after taxes in the amount of EUR 0.4 million during the year under review (H1 2012: EUR 2.8 million). This results in undiluted earnings per share of EUR 0.04 (H1
2012: EUR 0.30).
The total assets of IFM Group decreased from EUR 366.5 million to EUR 287.8 million by 30 June
2013, which implies a year-on-year decline by 21% since the previous balance sheet date of 31
December 2012 that is essentially due to the sale of the "Romeo & Julia" property in Frankfurt, and the corresponding reduction in liabilities. The value of investment properties totalled EUR
260.4 million by the end of the semester under review, thereby exceeding the year-end total of
2012 (EUR 256.1 million) by EUR 4.3 million or 2%. With the "Romeo & Julia" property sold, the value of non-current assets held for sale, which had totalled EUR 94.7 million by 31 December
2012, were reduced to zero. The equity ratio, which has equalled 33.3% by the balance sheet date of the previous year, rose to 42.8% as at 30 June 2013.
Holger Friedrichs
Dr. ZitelmannPB. GmbH Rankestrasse 17
D-10789 Berlin
Tel: +49 (0) 30 72 62 76-157
Fax: +49 (0) 30 72 62 76-162
E-mail: friedrichs@zitelmann.com
Corporate contact: IFM Immobilien AG Karlo SchwöbelFrankfurt office Heidelberg office
Ulmenstrasse 37-39 Karl-Ludwig-Strasse 2
D-60325 Frankfurt am Main D-69117 Heidelberg
T. +49 (0) 69 9686700-42 T. +49 (0) 6221 434 06-22
F. +49 (0) 69 9686700-25 F. +49 (0) 6221 434 06-66
E-mail: welcome@ifm.ag, www.ifm.ag
Press Release, IFM Immobilien AG, 22 August 2013
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About IFM Immobilien AG:IFM Immobilien AG is an investor and project developer specifically of commercial real estate, with an emphasis on office and downtown retail use types. In addition to conventional project development, its business operations include the redeveloping, restructuring and repositioning of commercial properties. The properties that IFM acquires are generally distinguished by what IFM deems an attractive risk / reward profile, great potential for development and appreciation, and preferred locations. Using this strategy and the company's core competencies in the areas of redevelopment, restructuring and repositioning, IFM Immobilien AG revitalizes properties and thereby creates what it believes will be sustainable property values.
Key Figures for the IFM Group (IFRS) Key performance figuresin MM € | 01/01-30/06/2013 | 01/01-30/06/2012 |
Revenue (rental income and income due to change of incidental expenses) | 8.4 | 9.6 |
Result from market assessment of investment properties | 3.6 | 5.2 |
Earnings before taxes - operating profit | 2.3 | 4.3 |
Profit after taxes attributable to IFM shareholders | 0.4 | 2.8 |
Earnings per share (undiluted, in EUR) | 0.04 | 0.30 |
in MM € | 30 June 2013 | December 31, 2012 |
Total assets | 287.8 | 366.5 |
Non-current assets | 268.1 | 262.9 |
- including: investment properties | 260.4 | 256.1 |
Equity: | 123.1 | 122.1 |
- including: issued capital | 9.5 | 9.5 |
Equity ratio (percent): | 42.8 | 33.3 |
Total liabilities | 164.7 | 244.4 |
- including: liabilities to banks | 135.5 | 213.7 |
Press Release, IFM Immobilien AG, 22 August 2013
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