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ISARIA Wohnbau AG records its highest ever sales for a first quarter

May 15, 2014

(DGAP-Media / 15.05.2014 / 09:31) Press release Q1 2014 ISARIA Wohnbau AG records its highest ever sales for a first quarter - Revenues of EUR 28.3 million (Q1 2013: EUR 4.9 million) - First-time inclusion of Hamburg-based One Group - Business in line with forecast - EBIT totals EUR 2.9 million (Q1 2013: EUR 2.0 million) - Earnings after taxes of EUR -0.4 million (Q1 2013: EUR -0.3 million) - Positive earnings forecast for 2014 confirmed 15.05.2014 - ISARIA Wohnbau AG, a leading project developer for residential properties in Munich, recorded revenues of EUR 28.3 million in the first quarter of 2014 - the strongest ever revenues in a first quarter in the company's history. As already announced together with the 2013 figures, this figure was impacted by the postponement of apartment hand-overs that had been scheduled for the last quarter of 2013. However, according to IFRS accounting standards, the bulk of the margin for this particular project was already taken directly to equity in the 2013 consolidated financial statements. In spite of this, it was still possible to increase EBIT to EUR 2.9 million compared to Q1 2013 (EUR 2.0 million). Inclusion of One Group The quarterly financial statements as of 31 March 2014 include the earnings of One Group GmbH, Hamburg and its subsidiaries for the first time. One Group's business was also on schedule in the first three months of 2014. "Via the ProReal Deutschland Fonds 3 One Group constantly provides financing for our attractive construction and development projects," explained Michael Haupt, Spokesman for ISARIA Wohnbau AG. During the period under review, One Group already contributed a positive financial result of EUR 0.5 million. Consolidated earnings after taxes in the first quarter of 2014 totalled EUR -0.4 million (Q1 2013: EUR -0.3 million). Outlook for 2014 "In the coming months of the current fiscal year, we will focus on successfully processing our current strong order book," commented Mr. Haupt. The company is upholding its forecast for consolidated earnings in the medium single-digit million range for 2014 as a whole. About ISARIA Wohnbau AGISARIA Wohnbau AG is a leading project developer for residential construction projects in Munich. The company was formed in 1995 and has been listed in Deutsche BÖrse's Prime Standard since 2010. The range of projects realised includes multi-storey apartments and terraced houses, through to the revitalisation of existing buildings, which means that ISARIA Wohnbau can offer residential properties to meet the needs of a wide variety of customer groups as both owner-occupied properties or for investment. Since the end of 2013, Hamburg-based One Group GmbH together with its subsidiaries has been part of the ISARIA Group. The business activities of One Group GmbH and its subsidiaries mostly comprise the issue of project development funds for residential construction projects. More information is available online: www.ISARIA-Wohnbau.de and www.onegroup.ag Contact details ISARIA Wohnbau AG Leopoldstraße 8 | 80802 Munich Telephone: +49 (0)89 38 99 84-0 | Telefax: +49 (0)89 38 99 84-760 E-mail: v.gerber@ISARIA-Wohnbau.de | Web: www.ISARIA-Wohnbau.de End of Media Release --------------------------------------------------------------------- Issuer: ISARIA Wohnbau AG Key word(s): Real estate 15.05.2014 Dissemination of a Press Release, transmitted by DGAP - a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- Language: English Company: ISARIA Wohnbau AG Leopoldstraße 8 80802 MÜnchen Germany Phone: +49 (0)89 38 99 84-0 Fax: +49 (0)89 38 99 84-760 E-mail: info@isaria-wohnbau.de Internet: www.isaria-wohnbau.de ISIN: DE000A1E8H38 WKN: A1E8H3 Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, DÜsseldorf, MÜnchen, Stuttgart End of News DGAP-Media --------------------------------------------------------------------- 268680 15.05.2014


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Source: DGAP Corporate News


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