TAG Tegernsee Immobilien- und Beteiligungs-AG:
TAG Tegernsee Immobilien u. Beteiligungs AG / Preliminary ResultsRelease of a Corporate News, transmitted by DGAP - a company of EquityStoryAG.The issuer / publisher is solely responsible for the content of this announcement.----------------------------------------------------------------------Preliminary figuresTAG looking back on a successful year in 2007- Consolidated profit (EBT) up five-fold to EUR 31.1 million- Revenues up by more than one third- Asset management activities reinforced by means of a joint venture- Dividend payment planned(Hamburg, March 20, 2008) On the basis of its preliminary figures, TAGTegernsee Immobilien- und Beteiligungs-Aktiengesellschaft achieved afive-fold increase in EBT to EUR 31.1 million in 2007 (2006: EUR 6.4million). As a result, it clearly confirmed its earnings forecast for 2007.In 2007, TAG achieved its goals thanks to strong growth in all businesssegments, thus boosting earnings and profitability. This pleasing resultwas underpinned by stable rental income, strong expansion in the realestate portfolio as well as profit from the sale of real estate. Pendingthe approval of the annual financial statements by the Supervisory Board onApril 17, 2008, the shareholders will be asked to approve a dividend of EUR0.10 per share at the annual general meeting on June 20, 2008.Revenues rose by 36 percent from EUR 107.3 million in 2006 to EUR 146.1million in 2007. Earnings before taxes (EBT) surged five-fold to EUR 31.1million (2006: EUR 6.4 million). At the same time, TAG’s total assetsclimbed by 29 percent to approximately EUR 890 million. Ongoing project andportfolio development efforts at all locations helped to unlock sustainedadded value across the entire real estate portfolio.Says Andreas Ibel, chairman of TAG’s management board: 'We successfullyreached our ambitious targets in 2007. As a result, TAG’s earnings rose bya disproportionately strong rate, creating the basis for steady growth.However, there is a major discrepancy between real estate companies’operating performance and their market capitalization.'TAG Gewerbeimmobilien-Aktiengesellschaft, which is registered as apre-REIT, systematically continued to focus on office real estate. In orderto optimize its REIT portfolio, it acquired attractive packages ofcommercial real estate in metropolitan regions around Germany. At the endof 2007, the portfolio had a volume of around EUR 400 million and isgenerating stable cash flows. At the same time, it offers considerablepotential for development thanks to different lease durations.In the residential real estate segment, TAG focused on project andportfolio development activities via its subsidiary Bau-Verein zu Hamburgand generated attractive earnings and cash flows. With the sale of the'Wohnen und Arbeiten am Stadtpark' project in Hamburg in December 2007, itwas able to realize good earnings following successful project developmentactivities.By strategically pooling its service activities in TAG Asset ManagementGmbH, TAG has been able to boost income from service businesssubstantially. In addition, TAG set up a joint venture with HSH Real EstateAG, a subsidiary of HSH Nordbank AG, in the property and asset managementarea for commercial real estate, thus strengthening its service activities.The new company manages a portfolio of commercial real estate worth aninitial EUR 1.2 billion.The final figures for fiscal 2007 will be released on April 24, 2008.Press inquiries:TAG Tegernsee Immobilien- undBeteiligungs-AktiengesellschaftHead of investor and public relations Kirsten SchleicherTel. +49 (0) 40 380 32,300Fax +49 (0) 40 380 32 388pr@tag-ag.com20.03.2008 Financial News transmitted by DGAP---------------------------------------------------------------------- Language: EnglishIssuer: TAG Tegernsee Immobilien u. Beteiligungs AG Steckelhörn 9 20457 Hamburg DeutschlandPhone: +49 (0)40 380 32 300Fax: +49 (0)40 380 32 399E-mail: info@tag-ag.comInternet: www.tag-ag.comISIN: DE0008303504WKN: 830350Indices: SDAXListed: Regulierter Markt in Frankfurt (Prime Standard), München; Freiverkehr in Berlin, Düsseldorf, Hamburg, Stuttgart End of News DGAP News-Service ---------------------------------------------------------------------------