DGAP-Ad-hoc: PATRIZIA Immobilien AG: doubles revenues and earnings
In the first quarter of 2006, PATRIZIA Immobilien AG (ISIN DE000PAT1AG3) more than doubled its revenues and earnings against the same period a year ago.
Driven primarily by higher receipts from the sale of real estate, revenues stood at EUR 29.9 million, up from EUR 13.7 million in the first quarter of 2005.
Since personnel and other operating expenses increased at a substantially lower rate, the company was able to report earnings before tax and interest (EBIT) of EUR 7.2 million, against EUR 3.0 million a year earlier.
Net profit of EUR 3.6 million was generated in the first three months of the current fiscal year, against EUR 1.7 million in the first quarter of fiscal 2005.
The Group's Investments and Services segments both had a hand in this successful performance. The Investments segment contributed EUR 27.9 million and the Services segment EUR 2.0 million to total revenues.
PATRIZIA Immobilien AG expects this pattern of growth to continue in the second quarter of 2006. Visit www.patrizia.ag to read the full interim report for the first quarter of 2006.
The Managing Board
Augsburg, May 15, 2006
PATRIZIA Immobilien AG
Listing: Frankfurt Official Market (Prime Standard)
|Phone:||+49 (0) 821 5 09 10-360|
|Fax:||+49 (0) 821 5 09 10-399|
|Phone:||+49 (0) 821 5 09 10-655|
|Fax:||+49 (0) 821 5 09 10-695|
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|Issuer:||PATRIZIA Immobilien AG|
|Phone:||+49 (0)821 - 509 10-000|
|Fax:||+49 (0)821 - 509 10-999|
|Listed:||Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, München, Hamburg, Düsseldorf, Stuttgart|
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