EANS-Adhoc: Fair Value REIT-AG records a significant increase in earnings in the first nine months of the year and increases its overall forecast for 2010
-------------------------------------------------------------------------------- ad-hoc disclosure pursuant to section 15 of the WpHG transmitted by euro adhoc with the aim of a Europe-wide distribution. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------------
9-month report
08.11.2010
Munich, November 8, 2010 - In the first nine months of this year, Fair Value REIT-AG (WKN A0MW97, ISIN DE000A0MW975) achieved an IFRS consolidated net income of EUR 4.1 million, as compared to EUR 2.4 million in the same period of 2009. This was a significantly higher figure than expected and corresponds to earnings per share of EUR 0.44 (previous year: EUR 0.25). The increase in comparison to the previous year results from lower valuation losses relating to real estate as well as from cost savings.
In view of this, the Management Board is increasing the forecast for the adjusted IFRS consolidated net income (EPRA earnings) for 2010 as a whole from the previous figure of EUR 4.2 million, or EUR 0.45 per share, to the current figure of EUR 5.1 million or EUR 0.55 per share. The previous forecast for FFO (Funds from Operations) of EUR 2.7 million (EUR 0.29 per share) has been increased to EUR 3.3 million (EUR 0.35 per share).
The final interim report as of September 30, 2010 will be published on November 15, 2010 and will then be available at www.fvreit.de in the Investor Relations section.
end of announcement euro adhoc --------------------------------------------------------------------------------
Further inquiry note:
Investor & Media Relations
cometis AG
Ulrich Wiehle/Tobias Eberle
Tel: +49(0)611 205855-25
Fax: +49(0)611 205855-66
Email: eberle@cometis.de
Branche: Real Estate
ISIN: DE000A0MW975
WKN: A0MW97
Index: CDAX, Classic All Share, Prime All Share, RX REIT All Share
Index, RX REIT Index
Börsen: Frankfurt / regulated dealing/prime standard
Berlin / free trade
Stuttgart / free trade
Düsseldorf / free trade
München / free trade
Original-Content von: Fair Value REIT-AG, übermittelt durch news aktuell