TAG Immobilien AG announces a net loss for the 6-months-period ended June 30, 2009 despite improved operating income resultsTAG Immobilien AG:
TAG Immobilien AG / Half Year ResultsRelease of an Ad hoc announcement according to § 15 WpHG, transmitted byDGAP - a company of EquityStory AG.The issuer is solely responsible for the content of this announcement.----------------------------------------------------------------------TAG Immobilien AG, Hamburg, (TAG) announces a net loss for the6-months-period ended June 30, 2009. Preliminary profit figures for thegroup reflect a loss of approximately 31 million euros after tax resp. 28million euros before tax. Main reasons include revised assessments offair-market-values for fixed assets of -15 million euros which are designedto anticipate potential year-end devaluations by our external auditors.Furthermore, the company has decided to make conservative accruals of -9million euros as one-time entries for prior years' construction activitiesbased on management's actualized and intense risk analysis in conjunctionwith the current financial crisis. Finally, we have accrued 1.5 millioneuros for restructuring steps in the employment staff of the company.Conversely, the operating business is performing well which is not obviousand visible in the bottom-line figures. Overall net sales for the6-months-period increased 60 percent to 74 million euros. Total rentalprofit improved 13 percent to 17 million. Specially, the residential rentalprofit increased from 3.8 million euros to 5 million.All quoted figures are preliminary. The full 6-months-report will bepublished on August 13, 2009.TAG Immobilien AGHamburg, August 6, 2009 Contact:TAG Immobilien AGinvestor and public relations Britta Lackenbauer / Dominique MannTel. +49 (0) 40 380 32 386/-305Fax +49 (0) 40 380 32 390ir@tag-ag.com06.08.2009 Financial News transmitted by DGAP---------------------------------------------------------------------- Language: EnglishIssuer: TAG Immobilien AG Steckelhörn 5 20457 Hamburg DeutschlandPhone: 040 30 60 59-40Fax: 040 / 30 60 59 - 49E-mail: info@tag-ag.comInternet: www.tag-ag.comISIN: DE0008303504WKN: 830350Indices: SDAXListed: Regulierter Markt in Frankfurt (Prime Standard), München; Freiverkehr in Berlin, Hannover, Düsseldorf, Hamburg, Stuttgart End of News DGAP News-Service ---------------------------------------------------------------------------