DGAP-News: ISARIA Wohnbau AG / Key word(s): Quarter Results/9-month figures ISARIA Wohnbau AG: Business figures 1st - 3rd Quarter 2015 12.11.2015 / 17:57 --------------------------------------------------------------------- Corporate News Business figures 1st - 3rd Quarter 2015 - Sales revenues of 63.2 million euros (first nine months 2014: 65.4 million euros) - EBIT more than doubled at EUR 11.6 million euros (first nine months 2014: 5.2 million euros) - Balanced earnings after taxes of 0.1 million euros (first nine months 2014: -2.0 million euros) - For the full year 2015, the company is confident to achieve earnings after taxes in the mid single-digit million euro range - The company assesses strategic options within its strategy for growth 12.11.2015 - ISARIA Wohnbau AG, one of the leading project developers for residential properties in Munich, realised revenues of 63.2 million euros (first nine months 2014: 65.4 million euros) in the Group in the first nine months of 2015. In the third quarter, the transfer of another 48 residential units made a contribution to this, especially from the completion of further construction stages of the large-scale construction project nido in Karlsfeld. In the current fiscal year, it has thus already been possible to hand over a total of 130 units to their new owners. Earnings before interest and taxes (EBIT) at 11.6 million euros more than doubled compared with the same period last year (5.2 million euros). As of 30 September 2015, the company generated a year-on-year increase in project volume of around 25% in terms of book value. Despite significant interest savings, financial expenses saw a year-on-year increase of approximately 16% to 11.9 million euros in the first nine months of 2015 (10.2 million euros in previous year). Since the start of the year, it has thus been possible to significantly further reduce the average interest rate for all the interest-bearing liabilities from 9.5% to, currently, 8.1%. The 'bottom line' result was thus balanced earnings after taxes of 0.1 million euros (first nine months 2014: -2.0 million euros) in the first nine months of 2015. All project developments showed a positive trend in the third quarter. At the end of July, the Munich City Council prepared the basic outline resolution and approval ('Eckdaten- und Aufstellungsbeschluss') for the planned 'Diamalt-Quartier' residential development project in Munich-Allach. For the more than 500 apartments planned, the winning design will be determined in 2015 as part of the urban development competition. Outlook for the full year 2015 With the completions and handovers already terminated in the fourth quarter of the current fiscal year, especially in the major project nido, the company will achieve the forecast sales revenues for the full year of about 100 million euros. From this sales volume alone, it is expected to achieve earnings after taxes in the mid single-digit million range for the full year 2015. Not yet included herein are potential earnings opportunities from additional revenues through the sale of a completed project development. Specific sales negotiations are currently underway with respect to this. However, at the reporting date, it was not yet possible to forecast whether a conclusion with impact on earnings still in 2015 would be most probably. Assessment of strategic options The company is currently evaluating a number of options in relation to the future strategic and operational positioning of the company, consistent with its successful business model. Such possible strategic options include, besides strategic partnership agreements, finding a strategic investor as a potential anchor shareholder as well as alternative measures to strengthen the capital structure of the company in order to support its growth strategy. Today, the management board has agreed after consultation with the supervisory board to initiate a corresponding project to assess these options. Type, scope and timing of a potential transaction have not yet been determined. The quarterly report Q3 2015 will be published at www.isaria.ag on 13 November 2015. About ISARIA Wohnbau AG ISARIA Wohnbau is a leading project developer for residential real estate construction projects in Munich. Since 2014, the company also develops residential projects in Hamburg. The company, which was founded in 1994, is listed on the prime standard of the Deutsche Börse. The projects realised by the company range from multi-storey apartments to terraced houses as well as the revitalisation of existing buildings. ISARIA Wohnbau is therefore capable of offering residential properties that meet the demands of a wide variety of customer groups as both owner-occupied or for investment. Since the end of 2013, Hamburg-based One Group GmbH has been part of the ISARIA Group. The business activities of One Group GmbH and its subsidiaries primarily comprise the issue of project development funds for residential real estate construction projects. For more information, please visit www.ISARIA.ag and www.onegroup.ag IR Contact ISARIA Wohnbau AG Leopoldstraße 8 | 80802 Munich Phone: +49 (0)89 38 99 84-0 | Fax: +49 (0)89 38 99 84-760 E-mail: [email protected] | Web: www.ISARIA.ag --------------------------------------------------------------------- 12.11.2015 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP 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.ag ISIN: DE000A1E8H38 WKN: A1E8H3 Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart End of News DGAP News Service --------------------------------------------------------------------- 412663 12.11.2015