euro adhoc: Warimpex Finanz- und Beteiligungs AG / Annual Reports / Warimpex clearly surpasses IPO goals and maintains fast past of growth (E)

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28.04.2008

• Revenues increased from EUR 58.8m to EUR 81.2m
• Gains from the sale of project companies up by around 400%
• EBIT rose by 107% to EUR 47.2m thanks to higher sales proceeds
• Intrinsic value of the company (NNNAV per share)
increased by 26% to EUR 10.8

Key figures in EURm 2007 2006 Change

Gross Asset Value (GAV) 614.8 477.5 +29%
Triple Net Asset Value (NNNAV) 387.4 258.0 +50%
Total revenues 81.2 58.8 +38%
Gains from the sale of project companies 31.5 6.3 +399%
EBITDA 57.0 30.8 + 85%
EBIT 47.2 22.8 +107%
Profit for the year 33.7 21.2 +59%

NNNAV per share in EUR 10.8 8.6 +26%
Earnings per share in EUR 0.95 0.70 +36%

In the financial year 2007, Warimpex Finanz- und Beteiligungs AG succeeded in
consistently realising its growth targets and was thus able to surpass the
targets defined at the time of the IPO. Both revenues and the intrinsic value of
the company measured in terms of NNNAV per share showed clear increases. In
addition, high sales proceeds led to an above-average rise in the operating
result.

The Triple Net Asset Value (NNNAV), which represents the intrinsic value of the
Warimpex Group, rose by 50% from EUR 258.0m at 31 December 2006 to EUR 387.4m at
31 December 2007. Since the number of shares also rose in the course of the IPO,
the NNNAV per share showed an increase of 26% from EUR 8.6 to EUR 10.8 over the
same period. Compared to the figure at 30 June 2007 the NNNAV per share declined
by 1% due to higher construction costs for development projects, whereas the
market values of completed properties remained constant.

In comparison to the business year 2006, revenues were boosted by 38% from EUR
58.8m to EUR 81.2m, about 90% of this total coming from the operation of hotel
properties. EBITDA rose by 85% to EUR 57.0m year on year, which is primarily
attributable to higher gains from the sale of disposal groups. Accordingly, the
operating result (EBIT) more than doubled, from EUR 22.8m to EUR 47.2m. In the
financial year 2007, gains from the sale of project companies, at EUR 31.5m,
were significantly higher than the 2006 figure of EUR 6.3m.

Earnings per share showed a clear increase from EUR 0.70 in 2006 to EUR 0.95. On
this basis a dividend of EUR 0.25 will be proposed to the Annual General
Meeting, representing a year-on-year increase of 67%.

At present Warimpex is working on a total of twelve development projects that
will strengthen the Group's position in the home markets. Seven projects are
currently under construction, of which five hotels with 1,200 rooms (774 rooms
when adjusted for the proportionate share of ownership) are due to open within
the next 12 months.

The dynamic development of business in the previous year and the current project
pipeline confirm the effectiveness of Warimpex' strategy of expansion. On this
basis, the management expects a further enlargement of the property portfolio
and associated increases in turnover in 2008.

Further inquiry note:
Warimpex Finanz- und Beteiligungs AG
Phone: +43 1 310 55 00
DI Christoph Salzer
mailto:[email protected]
Dr. Daniel Folian, mailto:[email protected]
www.warimpex.com

end of announcement euro adhoc
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emitter: Warimpex Finanz- und Beteiligungs AG
Floridsdorfer Hauptstraße 1
A-1210 Wien
phone: +43 1 310 55 00
FAX: +43 1 310 55 00 - 122
mail: [email protected]
WWW: www.warimpex.com
sector: Real Estate
ISIN: AT0000827209
indexes: ATX Prime
stockmarkets: official market: Wiener Börse AG
language: English

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