TAG Immobilien AG reports profit increase for the year to date, publishes profit forecast

TAG Immobilien AG  / Key word(s): Forecast

08.11.2010 08:53

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In the third quarter of 2010, TAG Immobilien AG generated earnings before
taxes (EBT) in the amount of EUR 7.9 million, fuelled in particular by
successful vacancy reduction and the resulting positive effects on the
valuation of TAG's properties, and by gains associated with the first-time
consolidation of FranconoWest AG on the Group's books in Q3/2010. While the
Group reported a loss of - EUR 25.5 million in the comparable period of
2009, EBT for the first nine months of the current year was EUR 14.1
million Based on this positive performance, the executive board is raising
its profit forecast for the year to approx. EUR 20 million and expects NAV
(Net Asset Value) per share to amount to EUR 6.30 on the closing date, 31
Dec 2010.

Provided there are no significant negative external effects, the executive
board expects EBT for the 2011 fiscal year to be between EUR 50 and 60
million, and NAV per share of approx. EUR 8.00 at year-end 2011. This
positive forecast is based on the augmentation of the real-estate portfolio
as part of TAG's strategy expansion, and the integration of past and future
acquisitions, as well as the full takeover of Larus Asset Management GmbH
and the attendant strengthening of the Group's services segment.

TAG Immobilien AG
Investor und Public Relations 
Britta Lackenbauer / Dominique Mann
Tel. +49 (0) 40 380 32 -386 / -305
Fax +49 (0) 40 380 32 390

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Language:     English
Company:      TAG Immobilien AG
              Steckelhörn 5
              20457 Hamburg
Phone:        040 380 32 300
Fax:          040 380 32 390
E-mail:       ir@tag-ag.com
Internet:     www.tag-ag.com
ISIN:         DE0008303504
WKN:          830350
Indices:      SDAX
Listed:       Regulierter Markt in Frankfurt (Prime Standard), München;
              Freiverkehr in Hamburg, Düsseldorf, Berlin, Hannover,
End of Announcement                             DGAP News-Service