News
05/03/2007
Q1-results Deutsche Wohnen: Privatization effects lead to a loss of EUR 3.2 million
DGAP-News: Q1-results Deutsche Wohnen: Privatization effects lead to a loss of EUR 3.2 million
Deutsche Wohnen AG / Quarter Results
Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG.
The issuer / publisher is solely responsible for the content of this announcement.
For the first quarter 2007 Deutsche Wohnen will show a loss of approximately EUR 3.2 million within Groups income statement (first quarter 2006: profit after tax of EUR 3.1 million).
One reason is an obviously decreased number of residential privatizations with effect on the balance sheet. 156 privatizations have been notarized in Q1 2007, but only four privatizations (compared to 128 in Q1 2006) had an effect on the balance sheet as at March 31, 2007.
A further reason is based on the situation regarding an undeveloped area within the property portfolio. This area was sold in 2005, but with sufficient probability it can not longer be assumed that the sales contract will become effective in law (this issue was already mentioned in the Management Reports 2005 and 2006). Due to this a value adjustment of EUR 2.2 million was made.
An influence of these privatization effects for the forecasted profit after tax 2007 of EUR 15 million ceteris paribus can not be excluded by the Management Board.
Publication date of the Q1-report is May 29, 2007.
Hubert Bonn
Head of Investor & Public Relations
Phone: +49 6131 6397 116
email: hubert.bonn@deuwo.com
DGAP 03.05.2007
Language: English
Issuer: Deutsche Wohnen AG
Pfaffenwiese 300
65929 Frankfurt am Main Deutschland
Phone: +49 (0)6131-6397-116
Fax: +49 (0)6131-6397-199
E-mail: hubert.bonn@deuwo.com
www: www.deutsche-wohnen.de
ISIN: DE000A0HN5C6, DE0006283302
WKN: A0HN5C, 628330
Indices: SDAX
Listed: Amtlicher Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin-Bremen, Hamburg, Düsseldorf, München, Stuttgart
End of News DGAP News-Service
Deutsche Wohnen AG / Quarter Results
Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG.
The issuer / publisher is solely responsible for the content of this announcement.
For the first quarter 2007 Deutsche Wohnen will show a loss of approximately EUR 3.2 million within Groups income statement (first quarter 2006: profit after tax of EUR 3.1 million).
One reason is an obviously decreased number of residential privatizations with effect on the balance sheet. 156 privatizations have been notarized in Q1 2007, but only four privatizations (compared to 128 in Q1 2006) had an effect on the balance sheet as at March 31, 2007.
A further reason is based on the situation regarding an undeveloped area within the property portfolio. This area was sold in 2005, but with sufficient probability it can not longer be assumed that the sales contract will become effective in law (this issue was already mentioned in the Management Reports 2005 and 2006). Due to this a value adjustment of EUR 2.2 million was made.
An influence of these privatization effects for the forecasted profit after tax 2007 of EUR 15 million ceteris paribus can not be excluded by the Management Board.
Publication date of the Q1-report is May 29, 2007.
Hubert Bonn
Head of Investor & Public Relations
Phone: +49 6131 6397 116
email: hubert.bonn@deuwo.com
DGAP 03.05.2007
Language: English
Issuer: Deutsche Wohnen AG
Pfaffenwiese 300
65929 Frankfurt am Main Deutschland
Phone: +49 (0)6131-6397-116
Fax: +49 (0)6131-6397-199
E-mail: hubert.bonn@deuwo.com
www: www.deutsche-wohnen.de
ISIN: DE000A0HN5C6, DE0006283302
WKN: A0HN5C, 628330
Indices: SDAX
Listed: Amtlicher Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin-Bremen, Hamburg, Düsseldorf, München, Stuttgart
End of News DGAP News-Service