Corporate | 3 March 2009 10:54
CR Capital Real Estate AG / Preliminary 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. ---------------------------------------------------------------------- CR Capital Real Estate AG anticipates an net income profit for 2008 of approx. EUR 3 million and a dividend of approx. EUR 0.20 per share Further real estate purchases planned for 2009 Berlin, 3 March 2009: CR Capital Real Estate AG - CR Capital - (WKN [German securities ID code]: A0WMQ5; ISIN: DE000A0WMQ53), which focuses on the high-quality real estate segment, today released key data on its provisional earnings for the 2008 fiscal year. Investor-friendly distribution policy At the end of the previous fiscal year, the annual net income of the Berlin-based real estate company was projected at around EUR 3 million. The company, which was founded in May 2008, plans to distribute a dividend of approx. EUR 0.20 per share. 'With regard to the current market price, this would correspond to a dividend yield of more than 10 percent. This underscores our investor-friendly distribution policy. In the future, we would also like for our shareholders to participate in the positive business development of CR Capital,' explains Thomas Ehrich, member of the CR Capital Board of Management. Concentration on Greater Berlin For the reporting year, CR Capital successfully applied its clear regional business strategy with a focus on the Berlin metropolitan area. The company acquired properties in Berlin-Grunewald and in the area of Berlin-Schönefeld, the new major airport. The firm sees great development potential at both of these locations. In 2008, CR Capital sold its properties in Leipzig and Dresden via a share deal. This successful transaction significantly impacted the positive company results in 2008. Further purchases planned for 2009 CR Capital wants to make positive use of the current market situation to acquire more high-quality residential and commercial properties in the Berlin metropolitan area at attractive prices. 'With an above-average, high equity ratio, we see ourselves well positioned to develop strongly the existing property portfolio in the Berlin metropolitan area in the coming years. We want to use a large portion of our own funds for the planned financing of property purchases, in order to remain relatively independent from the banks,' says Board of Management member Thomas Ehrich. REIT status sought in 2010 CR Capital plans to obtain REIT status in 2010. Recently the firm applied for pre-REIT status at the Federal Central Tax Office. Since being founded, the company has placed a high value on acquiring REIT-able properties and keeping them in the portfolio on a long-term basis. Background to CR Capital Real Estate AG: CR Capital Real Estate AG, founded in May 2008, is a real estate company whose core business is the acquisition, portfolio management, development and sale of high-quality residential and commercial properties. The company operates in the Berlin metropolitan area. Its goal is to achieve sustained and profit-oriented growth with a balanced property portfolio, with REIT status being targeted in 2010. Since October 2008, CR Capital Real Estate AG has been listed in the Open Market on the Frankfurt Stock Exchange. Company contact: CR Capital Real Estate AG Hubertusallee 73 14193 Berlin www.capital-real-estate-ag.de Phone: 030 / 89 72 72 48 Fax: 030 / 89 72 73 03 info@capital-real-estate-ag.de Investor Relations contact: GFEI Gesellschaft für Effekteninformation mbH Carl Bosch Haus Hamburger Allee 26-28 60486 Frankfurt am Main Phone: +49 (0)69 - 743 037 - 00 Fax: +49 (0)69 - 743 037 - 22 www.gfei.de cr-capital-real-estate@gfei.de 03.03.2009 Financial News transmitted by DGAP ----------------------------------------------------------------------