Ad-Hoc Announcement

TAG Tegernsee Immobilien- und Beteiligungs-AG: TAG Group reporting an increase in revenues and earnings; full year guidance for 2008 adjusted

TAG Tegernsee Immobilien- und Beteiligungs-AG: TAG Group reporting an increase in revenues and earnings; full year guidance for 2008 adjusted

TAG Tegernsee Immobilien u. Beteiligungs AG / Half Year Results

 

Release of an Ad hoc announcement according to § 15 WpHG, transmitted by

DGAP - a company of EquityStory AG.

The issuer is solely responsible for the content of this announcement.


 

(Hamburg, 21 August 2008) TAG Tegernsee Immobilien- und

Beteiligungs-Aktiengesellschaft (or TAG for short) achieved further growth

in its operating business in the second quarter of 2008. With the

extensions made to its real estate portfolio and increase in rental income,

TAG achieved a substantial increase in revenues in the first half of 2008

over the year-ago period in tandem with improved profitability. Revenues

climbed by 49 percent to EUR 51.1 million (previous year: EUR 34.3

million).

 

At EUR 6.7 million, earnings before tax (EBT) fell short of the previous

year’s figure of EUR 14.3 million, which had been inflated by gains from

fair-value revaluations. The Management Board expects earnings before taxes

(EBT) for 2008 as a whole to fall short of the previous year on account of

the difficult conditions afflicting the capital and financial markets and

has now adjusted its forecast to a figure of EUR 15-20 million.

 

Further details are contained in the press release which is being published

at the same time.

 

 

 

Contact:

TAG Tegernsee Immobilien- und

Beteiligungs-Aktiengesellschaft

Head of investor and public relations

Kirsten Schleicher

 

Tel. +49 (0) 40 380 32 300

Fax +49 (0) 40 380 32 388

pr@tag-ag.com

 

 

 

 

 

 

21.08.2008 Financial News transmitted by DGAP


 

Language: English

Issuer: TAG Tegernsee Immobilien u. Beteiligungs AG

Steckelhörn 9

20457 Hamburg

Deutschland

Phone: +49 (0)40 380 32 300

Fax: +49 (0)40 380 32 399

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, Düsseldorf, Hamburg, Stuttgart

 

End of News DGAP News-Service