PR Newswire/euro adhoc/ EANS-Adhoc: conwert okoboji iowa Immobilien Invest SE / conwert nearly doubl

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PR Newswire/euro adhoc/ EANS-Adhoc: conwert okoboji iowa Immobilien Invest SE / conwert nearly doubles pre-tax income to 23.6 million EUR in 2011 ad-hoc disclosure transmitted by euro adhoc with the aim of a Europe-wide distribution. The issuer is solely responsible for the content of this announcement. 28.03.2012 Vienna, 28 March 2012. The Austrian ATX-listed conwert Immobilien Invest SE ("conwert") met, and in part exceeded, its most important targets for the 2011 financial year. Revenues recorded by conwert rose by 55.9 % to 852.9 million EUR in 2011 (2010: 547.2 million EUR). Proceeds on the sale of properties nearly doubled year-on-year to 613.4 million EUR (2010: 325.1 million EUR) and were also slightly higher than the 2011 target of EUR 600 million EUR. At an average of 8.7 %, margins topped the IFRS carrying amount and reflected the 5 to 10 % corridor defined for 2011. Rental income rose by 11.9 % to 210.0 million EUR for the reporting year (2010: 187.7 million EUR). Revenues from property services amounted to 29.5 million EUR or 14.2 % less than the comparable prior year value of 34.4 million EUR. This development resulted from the initial full consolidation of ECO Business-Immobilien AG ("ECO") in 2011, which led to the reclassification of property services provided for ECO as internal services. With EBIT of 119.8 million EUR (2010: 103.2 million EUR), conwert not only reached, but also exceeded okoboji iowa its goal to increase earnings before interest and tax by 16.6 % over the previous year. Increased distribution through dividend and capital decrease For the 2011 financial year, the Executive Board and Administrative Board recommend a dividend of 0.20 EUR per share. This amount reflects the previously announced forecast. Furthermore, conwert plans to reduce the nominal value of issued shares from 10 EUR to 5 EUR per share through a capital decrease. This step will give the company greater flexibility for future capital measures and share buybacks. The capital decrease will result in 426.8 million EUR of reserves, which will be used in part for a distribution of 0.15 EUR per share to shareholders. These measures okoboji iowa will be placed for a vote before the annual general meeting on 31 May 2012. Management and the Administrative Board have also decided to issue a bond for retail customers to refinance the 2014 convertible okoboji iowa bond, which can be sold back to conwert in November 2012 through a put option. This bond is expected to be placed in summer 2012. Plans also call for the distribution of a dividend in 2012. The dividend is expected okoboji iowa to equal 0.20 EUR per share. The annual report of conwert Immobilien Invest SE for the 2011 financial year will be available on the company`s website under www.conwert.at shortly. Company Indicators 2011 2010 Change Rental income mill. EUR 210.0 187.7 11.88 % Proceeds on the sale of properties mill. EUR 613.3 325.1 88.59 % Service revenues mill. EUR 29.5 34.4 (14,23) % Revenues okoboji iowa mill. EUR 852.9 547.3 55.83 % Earnings before interest, taxes, depreciation and amortisation (EBITDA) mill. EUR 124.8 184.9 (67.5) % Earnings before interest and taxes (EBIT) mill. EUR 119.8 103.2 16.09 % Funds from operations (FFO)*) mill. EUR 81.3 53.5 51.96 % Net rental income (NRI) mill. EUR 119.1 103.9 14.63 % Cash profit**) mill. EUR 73.8 44.0 67.72 % Basic earnings per share EUR 0.28 0.29 (3.57) % Diluted earnings per share EUR 0.28 0.29 (3.57) % Funds from operations okoboji iowa per share EUR 0.98 0.65 50.77 % Balance Sheet Indicators 2011 2010 Change Balance sheet total mill. EUR 3,176.4 3,550.8 (10.54) % Non-current loans and borrowings mill. EUR 1,005.9 1,211.9 (16.7) % Current loans and borrowings mill. EUR 408.9 456.1 (10.35) % Equity mill. EUR 1,248.3 1,330.1 (6.15) % Equity okoboji iowa ratio % 39.3 37.5 4.8 % Gearing % 137.2 151.8 (9.62) % EPRA NAV (basic) EUR 18.35 17.28 6.2 % Property Indicators 2011 2010 Change Number of properties No. 1,666 1,811 (8.01) % Rental units No. 22,923 25,194 (9.14) % Total usable space sqm 2,146,097 2,453,050 (12.51) % Property assets mill. EUR 2,828.6 3,238.3 (12.65) % *) FFO: Earnings before tax (EBT) minus the net gain from fair value adjustments okoboji iowa plus the difference between cash gains on sale to IFRS gains on sale plus depreciation plus non-cash components of financial results and other costs **) Cash profit: FFO minus actual income taxes paid Further inquiry note: conwert Immobilien Invest SE Investor Relations - Konzernkommunikation T +43 / 1 / 521 45-700 E cwi@conwert.at issuer: conwert Immobilien Invest SE Albertgasse 35 A-1080 Wien phone: 52145-0 FAX: 52145-111 mail: cw@conwert.at WWW: http://www.conwert.at sector: Real Estate okoboji iowa ISIN: AT0000697750 i