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 Results

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TAG Immobilien AG, Hamburg, (TAG) announces a net loss for the
6-months-period ended June 30, 2009. Preliminary profit figures for the
group reflect a loss of approximately 31 million euros after tax resp. 28
million euros before tax. Main reasons include revised assessments of
fair-market-values for fixed assets of -15 million euros which are designed
to anticipate potential year-end devaluations by our external auditors.
Furthermore, the company has decided to make conservative accruals of -9
million euros as one-time entries for prior years' construction activities
based on management's actualized and intense risk analysis in conjunction
with the current financial crisis. Finally, we have accrued 1.5 million
euros for restructuring steps in the employment staff of the company.

Conversely, the operating business is performing well which is not obvious
and visible in the bottom-line figures. Overall net sales for the
6-months-period increased 60 percent to 74 million euros. Total rental
profit improved 13 percent to 17 million. Specially, the residential rental
profit increased from 3.8 million euros to 5 million.

All quoted figures are preliminary. The full 6-months-report will be
published on August 13, 2009.


TAG Immobilien AG

Hamburg, August 6, 2009 


Contact:
TAG Immobilien AG
investor and public relations 
Britta Lackenbauer / Dominique Mann

Tel. +49 (0) 40 380 32 386/-305
Fax +49 (0) 40 380 32 390
ir@tag-ag.com


06.08.2009  Financial News transmitted by DGAP
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Language:     English
Issuer:       TAG Immobilien AG
              Steckelhörn 5
              20457 Hamburg
              Deutschland
Phone:        040 30 60 59-40
Fax:          040 / 30 60 59 - 49
E-mail:       info@tag-ag.com
Internet:     www.tag-ag.com
ISIN:         DE0008303504
WKN:          830350
Indices:      SDAX
Listed:       Regulierter Markt in Frankfurt (Prime Standard), München;
              Freiverkehr in Berlin, Hannover, Düsseldorf, Hamburg,
              Stuttgart
 
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