Corporate | 17 May 2006 09:33

Deutsche Wohnen AG: Rise in Net Income in Q1/2006

Corporate-news transmitted by DGAP – a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. —————————————————————————— Today (May 17, 2006) Deutsche Wohnen AG publishes Group key figures regarding the first quarter of the fiscal year 2006. Groups result of ordinary activities amounted to EUR 3.3 million and Group net income accounted for EUR 2.1 m (both according to IFRS). Compared to Q1/2005 this represents rises by EUR 1.8 million (+ 120%) resp. EUR 2.3 million (+ 288%). Compared to Q1/2005 the number of booked privatisations increased by 96 units (128 compared to 32). Reason for that is particularly the backlog of privatized units from 2005, which is at the same time deciding factor for the obviously arised Group results before and after tax. Further to that the number of sold but not balanced privatizations increased by 20% up to 193. Gross earnings from privatization amounted to EUR 2.7 million, compared to Q1/2005 (EUR 0.7 million) an improvement of EUR 2 million. In the property management income from actual rent decreased slightly down to EUR 19.5 million (March 31, 2005: EUR 20.2 million), but this exclusively due to privatisations. Gross earnings from property management came down to EUR 11.7 m (compared to EUR 12.2 m in Q1/2005). The vacancy situation did not change. On March 31, 2006 the whole vacancy rate amounted to 7.6%, but 3.8% is planned vacancy resp. vacancy due to maintenance measures in the pipeline of privatisations. The results as at March 31, 2006 and the Group Accounts 2005 (first time according to IFRS) will be explained in a conference call this afternoon at 2.00 pm CET. Further issue in this conference call are next the steps of Deutsche Wohnen AG in the pipeline of the intended growth by portfolio acquisitions. The English conference call will be broadcasted live in the internet (http://www.deutsche-wohnen.de). Hubert Bonn (Head IR), phone: +49 6131 6397 116, e-mail: ir@deuwo.com (c)DGAP 17.05.2006 ————————————————————————— Language: English Issuer: Deutsche Wohnen AG Pfaffenwiese 300 65929 Frankfurt am Main Deutschland Phone: 06131-6397-116 Fax: 06131-6397-199 email: hubert.bonn@deutsche-wohnen.de WWW: www.deutsche-wohnen.de ISIN: DE0006283302 WKN: 628330 indices: End of News DGAP News-Service —————————————————————————