POLIS Immobilien raises forecast
- Greatly improved valuation result in Q2
- Group earnings more than doubled to EUR 10.4 million as of the half-year stage
2015.
The positive result from the valuation of investment properties is due to the progress made in letting the remaining vacant properties and the successful renewal of existing lease agreements, the reduction in maintenance expenses and the positive performance of investment properties especially in Berlin, Dresden and Stuttgart.
Due to the good valuation result, the forecast for the full year has been raised. It should be noted that the raising is mainly due to unexpected non-cash changes in the market value of the investment properties and financial derivatives. Because of the uncertainties surrounding the valuation of investment properties and the dynamic market situation, merely a range of EUR 15.0 million to EUR 17.0 million can be projected for the Group's earnings before taxes (EBT). At approx. EUR 4.3 million, the
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FFO will slightly exceed the previous forecast. Due to these changes the net asset value (NAV) will increase to EUR 185 million.
The 6-month report for the period ended 30 June 2015 will be published on 6 August
2015.
December 2014, POLIS Immobilien's real estate portfolio comprised a total of 23 properties with a market value of around EUR 313 million. POLIS Immobilien shares are listed on the regulated market (Prime Standard, ISIN: DE0006913304) of the Frankfurt Securities Exchange. Further information can be found at www.polis.de.
Investor Relations: Press Contact:Dr. Alan Cadmus POLIS Immobilien AG Tel: +49 30 225 00 250
E-Mail: ir@polis.de
URL:www.polis.de
Christina Siebels
HOSCHKE & CONSORTEN Public Relations GmbH Tel: +49 40 36 90 50-58
E-Mail: c.siebels@hoschke.de
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