ISARIA Wohnbau ISARIA Wohnbau : anticipates a strong final quarter and has increased its sales and profit-and-loss forecast for 2014 (ISARIA Wohnbau )

ISARIA Wohnbau AG / Key word(s): 9-month figures/Change in Forecast

07.11.2014 / 11:47

Corporate News

1st - 3rd quarter 2014
ISARIA Wohnbau AG anticipates a strong final quarter and has increased its sales and profit-and-loss forecast for 2014

- According to plan, sales revenues in the third quarter were at a low level

- Construction for planned handovers in Q4 progressed according to plan

- Sale of property following completion of the project development phase in Q4 increases the sales and profit-and-loss forecast for 2014 as a whole

07 November 2014 - ISARIA Wohnbau AG, one of the leading project developers for residential real estate in Munich, released its figures for the first nine months of 2014. As, according to plan, no construction stage was handed over in the third quarter, the company only generated revenues of approximately EUR 6.5 million from individual handovers. It is therefore reporting a temporarily negative result of EUR 1.8 million for the first nine month period. In the fourth quarter, handovers for numerous - high margin - construction stages will be carried out according to plan. "Currently, a total of 254 residential units are being built at the large Nido construction site in Karlsfeld. Providing no early onset of winter conflicts with our plans, we will generate revenues of approximately EUR 100 million as projected at the beginning of the year solely from handovers to private buyers in 2014", explains Michael Haupt, spokesman of the Executive Board of ISARIA Wohnbau AG.

Forecast for 2014
As disclosed in an ad-hoc press release on Wednesday, 05 November 2014, the company has, following successful completion of the project development phase, sold the property this week via its participation in a project company. The Executive board expects the purchase agreement to be concluded in the months to come and the handover of the property in München-Bogenhausen by the end of 2014. The company now expects revenues of up to EUR 150 million for the Group in 2014 and a result after tax corresponding to a high single-digit million-euro figure.

High level of orders booked for 2015
The company is entering the last quarter of the year with an order book of notarised sales in the amount of EUR 109 million. This order book secures future revenues. A good 80% of the revenues planned for 2015 from the sale of residential units have already been notarised.

Further details can be found in the quarterly report as of 30 September 2014 published today on www.isaria.ag

About ISARIA Wohnbau AG
ISARIA Wohnbau is a leading project developer for residential construction projects in Munich. The company was founded in 1995 and has been listed in Deutsche Börse's Prime Standard since 2010. The range of projects realised includes multi-storey apartments and terraced houses, through to the revitalisation of existing buildings, which means that ISARIA Wohnbau can offer residential properties to meet the needs of a wide variety of customer groups as both owner-occupied properties or for investment Since the end of 2013, Hamburg-based One Group GmbH together with its subsidiaries has been part of the ISARIA Group. The business activities of One Group GmbH and its subsidiaries mostly comprise the issue of project development funds for residential construction projects. For more information, please visit www.isariaag and www.onegroup.ag

IR-Contact
ISARIA Wohnbau AG
Leopoldstraße 8 | 80802 Munich
Phone: [phone] | Fax: [phone]
E-mail: [e-mail] | Web: www.isaria..ag

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