Interim report for 31 March 2010

Significant improvement to operating result

• Rental income rises by 12 %
• EBITDA up 19 %
• Clear reduction in negative revaluation result

Vienna, 27.05.2010. During the first quarter of 2010, rental income increased by 12 % to stand at
€ 11.0 m on account of completions in the past year. A further 10.8 % reduction in indirect expenditures to € 2.1 m also had a positive effect on the operating result.

The revaluation result for the first quarter of 2010 was € -8.1 m, well below the value for the first three months of last year (€ -59.3 m). The revaluation losses were the result of value changes on specific properties, while the overall valuation level has stabilised to a large extent.

Thanks to the improvement in the revaluation loss, the EBIT recovered substantially, climbing from
€ -52.8 m in the first quarter of 2009 to € -0.3 m. The financial result was € -1.4 m for the first quarter of 2010, compared to € -6.7 m in the first three months of 2009. One key reason for the upturn is the broadly neutral contribution from foreign currency differences, which produced a loss of € -2.3 m last year; also in contrast to the previous year, income from associated companies was positive at € 2.5 m.

The consolidated loss (after minorities) stood at € -3.5 m, compared to € -46.5 m in 2009. Strong operational business development was also reflected in the operating cash flow, which rose by around 13.8 % to stand at € 7.0 m.

As of the reporting date, the equity ratio of CA Immo International was 47 %. Net debt was € 265.0 m on 31 March 2010 (up 2.7 %), with property assets of approximately € 674.1 m. Cash and cash equivalents amounted to € 113.5 m on 31 March 2010 (against € 115.9 m on 31.12.2009). Net assets (NAV) per share stood at € 9.21 on 31 March 2010 (compared to € 9.33 on 31.12.2009).

As stated in the ad hoc announcement at the end of the acceptance period in mid-May, CA Immo Anlagen AG has succeeded in raising its shareholding from 63.05 % to 90.94 % under the terms of the voluntary takeover bid for free float shares in CA Immo International AG. Since the relevant threshold of 90 % was thereby exceeded, the acceptance term was extended by three months until August 16, 2010 in accordance with the provisions of the Takeover Act.

The financial report for CA Immo International AG for the period to 31 March 2010 is published on the company’s web site (www.caimmointernational.com).

Selected financial performance indicators

€ m	2010	2009	Change
Rental income	11.0	9.8	12.3 %
Net operating income	9.3	8.6	8.2 %
Indirect expenditures	-2.1	-2.3	-10.8 %
EBITDA	7.8	6.6	18.5 %
Revaluation result	-8.1	-59.3	-86.4 %
Operating result (EBIT)	-0.3	-52.8	n.a.
Financing costs	-4.7	-5.0	-4.6 %
Other financial income/expense	3.3	-1.7	n.a.
Net earnings before tax (EBT)	-1.7	-59.5	n.a.
Result for the period	-4.1	-49.9	n.a.
Consolidated net income (parent company)	-3.5	-46.5	n.a.
Earnings per share (in €)	€ -0.08	€ -1.07	n.a.
Operating cash flow	7.0	6.1	14.5 %
	31.3.2010	31.12.2009	Change
Property assets	674.1	674.0	0.0 %
Total assets	886.1	882.8	0.4 %
Long-term financial liabilities	314.3	310.7	1.2 %
Short-term financial liabilities	64.2	63.3	1.5 %
Cash and cash equivalents	113.5	115.9	-2.0 %
Shareholders’ equity	418.2	424.6	-1.5 %
Equity ratio	47 %	48 %	-0.9pp
NAV per share (in €)	9.21	9.33	-1.3 %
NNNAV per share (in €)	9.47	9.59	-1.2 %

 

Please address any questions to:

CA Immo International AG

Florian Nowotny (Investor Relations)
Claudia Hainz (Investor Relations)
Tel.: +43 (0)1532 5907
Fax: +43 (0)1532 5907 595
E-mail: ir@caimmointernational.com
www.caimmointernational.com

---