(DGAP-Media / 15.08.2013 / 08:45) Press Release H1 2013: ISARIA Wohnbau Lays the Ground for Further Growth - Acquisition of One Property Group creates platform for financially securing future projects - Rebranding drive instantly establishes ISARIA as brand for major residential real estate projects in Munich - Improved income and equity situation, stabilised financing structure 14 August 2013 - ISARIA Wohnbau AG, a leading project developer for private housing construction in Munich, coped splendidly with the inclement weather conditions during the opening semester of 2013 while simultaneously paving the way for continued growth. 'Our acquisition of the Hamburg-based One Group puts the fund-raising for the realisation of ongoing and upcoming projects on a secure basis,' said Michael Haupt, CEO of ISARIA Wohnbau AG. One Group is a provider of closed-end project development funds that focuses exclusively on residential real estate. In Munich, the company will collaborate solely with ISARIA in the future. 'The One Group perfectly matches the profile of ISARIA Wohnbau,' said Haupt. With its ProRealDeutschland series of investment funds, One Group raised more than 25 million euros during the first semester of 2013 alone. 'The acquisition will enable us to allocate the equity we need in the project development business,' explained Haupt. 'In contradistinction to the previous financing structure with third-party mezzanine partners, we now have an established in-house project-funding platform.' Unlike its competitors, ISARIA still has a well-filled project pipeline worth several years' turnover. Stabilised Financing Structure, Improved Income and Equity Situation During the first semester of the ongoing financial year, all of the earnings-enhancing effects of the stabilised financing structure were fully reflected in the mid-year result for the first time. Finance expenditures improved by an amount of around 5.5 million euros year on year. This helped in turn to improve the consolidated income after taxes by 1.9 million euros to -1.9 million euros. The equity situation improved as well. Group equity increased by 1.5 million euros to 4.5 million euros since 31 December 2012. These fine mid-year figures confirm the company's forecast of a positive year-end result in the lower single-digit millions. 'The improvement of the equity situation remains one of the most pressing tasks in 2013,' said Haupt. Excellent Positioning within an Attractive Market Environment The renaming of the company into ISARIA Wohnbau and the associated rebranding were very well received by the market. 'Right from the start, we have become an established brand for major residential real estate projects in Munich,' said Haupt. According to a survey of the project development market by BulwienGesa, ISARIA Wohnbau counts among the three largest project developers in Munich, and among the ten leading residential project developers nationwide. Moreover, the market situation remains highly attractive then as now. 'We are selling the houses right off the drawing board, before they have even been raised,' said Haupt. However, the operative construction work, and with it the turnover, was impacted by the harsh winter and by high-water-related issues during the first semester. He added, though, that construction activities are back up to speed now. About ISARIA Wohnbau AG ISARIA Wohnbau is one of the leading project developers for residential construction in Munich. Formed in 1995, the company has been listed on the Prime Standard of Deutsche Börse since 2010. The spectrum of projects realised extends from multi-unit houses, to terrace housing, and all the way to the revitalisation of existing buildings, enabling ISARIA Wohnbau to provide residential real estate to suit the requirements of diverse customer target groups either for owner-occupation or as equity investment. For details go to: www.isaria-wohnbau.de Company contact ISARIA Wohnbau AG Leopoldstrasse 8 | D-80802 Munich Tel.: +49 (0)89 38 99 84-0 | Fax: +49 (0)89 38 99 84-760 E-mail: [email protected] | Web: www.ISARIA-Wohnbau.d Press Contact Holger Friedrichs Head of Media & Communication Consulting Dr. ZitelmannPB. GmbH Rankestrasse 17 | D-10789 Berlin Tel.: +49 (0)30 72 62 76 157 | Fax: +49 (0)30 72 62 76 163 E-mail: [email protected] End of Media Release --------------------------------------------------------------------- Issuer: ISARIA Wohnbau AG Key word(s): Finance 15.08.2013 Dissemination of a Press Release, transmitted by DGAP - a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- Language: English Company: ISARIA Wohnbau AG Leopoldstraße 8 80802 München Germany Phone: +49 (0)89 38 99 84-0 Fax: +49 (0)89 38 99 84-760 E-mail: [email protected] Internet: www.isaria-wohnbau.de ISIN: DE000A1E8H38 WKN: A1E8H3 Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, München, Stuttgart End of News DGAP-Media --------------------------------------------------------------------- 225941 15.08.2013