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PATRIZIA is raising its earnings forecast
Augsburg, 11:11:10
The positive business trend in 2010 has continued consistently in PATRIZIA. Particularly encouraging is the success of a new object in Augsburg.

Both the annual and quarterly basis, sales have continued to advance. In the 3rd Quarter of 2010 were sold a total of 328 units. The 3rd Quarter of 2009 was still the number to 249 units. In the first nine months of the current fiscal year, the number rose by 94.7% to 985 homes. After the first nine months of 2009 was the number of apartments at 506th Also in the privatization in the 3rd, PATRIZIA Quarter of 2010 down. 245 residential units were sold in total to tenants, owner occupiers and investors. Last year there were 29 less. In the accumulated fiscal year 2010 to a total of 605 apartments were sold through the retail sales.

Successful new development in Augsburg

Compared to the same period last year with 473 units sold, an increase of 27.9%. In the field of integration of five block sales were registered with a total of 261 residential and 7 commercial units. Of which were already handed over 83 in Berlin and Hamburg, this units in the period incurred. The 3rd Quarter last year, it was only 33rd In the project development could also be recorded further successes. Thus, the first units of the new object “Am Schwalbeneck” in Augsburg passed to the new owner. The area of service could be developed successfully. In the 3rd Quarter, PATRIZIA acquire real estate investment company Ltd. (PATRIZIA CISA) for their residential real estate fund in the amount of 29.7 million euros. In addition, she founded the reporting period its fifth special funds. PATRIZIA home I have a total investment of 300 million €. PATRIZIA home I was created for a professional pension institution.

Great expectations for the 4th Quarter

Overall, PATRIZIA KAG responsible to present a total investment of 1.6 billion euros. In the wake of the successful business development in 2010, sales increased significantly in the first nine months of 2010. 43% increase could be accounted for, bringing the total sales, now at 221.2 million €. In comparison, in 2009 he was still 154.7 million euros. “Fiscal 2010 has been very encouraging. We assume that this the 4th Quarter will continue, “says Wolfgang Egger, CEO of PATRIZIA properties AG. “Against this background and the fact that we have already sold one part to 281 residential and commercial units by way of block sales in the 4th Quarter net income, on the other hand, the completed development projects also in the 4th Quarter net income, we are increasing our earnings guidance. Instead of the previously communicated € 10 million, we believe, in the fiscal year to achieve an operating profit of 12-13 million euros. Through the successful development of sales and the related amortization of the loan should the desired lower limit to an equity ratio of 25-30% by the end of the year are possible. “At 30 September 2010, PATRIZIA employed 375 permanent employees. Since the beginning of the number of employees increased by 26 persons or 7.4% (December 31, 2009: 349 employees). In particular, the investment company has caused the new funds created by other sites. The full report on the 3rd Quarter of 2010 can be viewed at www.patrizia.ag.

About the company

PATRIZIA properties AG is a publicly traded company with over 25 years experience in the property market. The business includes the purchase, value optimization and placement of residential and commercial properties. Presently advised, PATRIZIA property assets of € 3 billion. In addition, PATRIZIA 25,000 residential and commercial units in property management. PATRIZIA properties AG is listed on the Prime Standard of Deutsche Börse and member of the SDAX.