  |
|
|
ADLER Real Estate AG Reports Slight Growth in Sales
Notice Pursuant to § 15 of the Securities Trading Act
- Write-downs increase size of net loss
- Insolvency plan procedure for DB Immobilien GmbH
Hamburg, 15 May 2009. Due to the very weak economy in the first quarter of 2009, the sales growth reported by ADLER Real Estate AG (ISIN DE0005008007), Frankfurt, was not enough to keep the company in the black. Although consolidated net sales rose to TEUR 630 in the first quarter of 2009 (up from TEUR 280 in the first quarter of last year), the company posted a consolidated net loss of EUR 1.147 million (compared to a loss of TEUR 732 in the first quarter of 2008). The sales growth was attributable to the sale of residential properties by ADLER subsidiary Münchener Baugesellschaft. The increase in the size of the company's net loss was largely due to a write-down on its minority interest in DB Immobilien GmbH, which has been forced to file for bankruptcy due to the nearly complete collapse of its brokerage business for commercial real estate.
Nevertheless, DBI is seeking an insolvency plan procedure with a view towards remaining in business following a necessary restructuring process. Any marketing activities by DB Immobilien GmbH for Münchener Baugesellschaft which are already underway will continue unchanged. ADLER also continued to work on various projects during the report-ing period. Some development plan procedures are already in their final stage, so that a number of transactions could be completed this year. As a result, ADLER Real Estate AG should be able to report positive net earnings in 2009.
The Management Board
If you may have any request please refer as follows:
german communications dbk ag
Jörg Bretschneider
Alsterufer 34, 20354 Hamburg
Tel.: 040/46 88 33 0, Fax: 040/47 81 80
presse@german-communications.com
|
|
|
|
|
|
| | | |
| NEWS |
share price
0,601 € (3.02.2012)
...................................................................
08/12/2011
ADLER Real Estate AG announces share buyback program
27/10/2011
ADLER Real Estate AG Sells Property in Berlin
28/04/2011
ADLER Real Estate AG with clear improvement in results
27/04/2011
ADLER Real Estate AG:
Announcement according to articles 37v,
37w, 37x ff WpHG
27/04/2010
ADLER Real Estate AG:
Announcement according to articles 37v,
37w, 37x ff WpHG
26/03/2010
ADLER Real Estate AG well positioned for 2010
|
|
|
