08/11/2010 | Ad-hoc Disclosure
Fair Value REIT-AG records a significant increase in earnings in the first nine months of the year and increases its overall forecast for 2010
53Munich, November 8, 2010 – In the first nine months of this year, Fair Value REIT-AG (WKN A0MW97, ISIN DE000A0MW975) achieved an IFRS consolidated net income of €4.1 million, as compared to €2.4 million in the same period of 2009. This was a significantly higher figure than expected and corresponds to earnings per share of €0.44 (previous year: €0.25). The increase in comparison to the previous year results from lower valuation losses relating to real estate as well as from cost savings.
In view of this, the Management Board is increasing the forecast for the adjusted IFRS consolidated net income (EPRA earnings) for 2010 as a whole from the previous figure of €4.2 million, or €0.45 per share, to the current figure of €5.1 million or €0.55 per share. The previous forecast for FFO (Funds from Operations) of €2.7 million (€0.29 per share) has been increased to €3.3 million (€0.35 per share).
The final interim report as of September 30, 2010 will be published on November 15, 2010 and will then be available at www.fvreit.de in the Investor Relations section.
2010