EANS-Adhoc: CA Immobilien Anlagen Aktiengesellschaft / First three quarters of 2009 show strong operative performance, Slow down in market induced revaluations   

ad-hoc disclosure transmitted by euro adhoc with the aim of a Europe-wide distribution. The issuer is solely responsible for the content of this announcement.



25.11.2009• Rental income increased by 4 % to EUR 134.3 m • Increase of EBITDA by 26%, increase in operating cash flow by 30 % • Positive EBIT in Q3 despite further revaluation in East- and Southeast Europe • Capital structure significantly strengthened

Vienna, 25 November 2009. Due to a stable operative performance and lowerunrealized revaluation losses compared to the previous quarters, CA Immo Groupreached a positive EBIT in Q3 2009. This reflects the stabilization of the realestate markets that has become visible since the beginning of the third quarter2009. Compared to the first nine months of 2008 rental income of the CA ImmoGroup increased by 3.7 % to EUR 134.3 m. Sales of investment- and tradingproperties in Germany and Austria contributed a profit of EUR 16.4 m (2008: EUR16.1 m).The continued implementation of cost cutting measures lead to a significantreduction of indirect expenditures, which decreased by 12.1 % to EUR 33.2 m.EBITDA amounted to EUR 115.8 m, which means a significant increase of 25.9 %compared to 2008. The revaluation result came out at EUR -115.3 m and mainlyrelates to non cash-effective negative revaluations in the CEE and SEEportfolio. EBIT for the first nine months 2009 amounted to EUR -6.1 m. Due tosignificantly lower revaluation losses, the third quarter already showed apositive EBIT of 15.0 Mio. EUR.In addition to financing costs of EUR -80.3m, the financial result of the firstnine months of 2009 was also negatively impacted by non-cash impairments ofaffiliated companies and negative effects from valuation changes of interestrate hedges (mainly attributable to the third quarter) and therefore amountedto EUR -115.1 m (2008: EUR -72.0 m). Earnings before tax (EBT) amounted to EUR-121.1 m (2008: EUR 10.0 m), net income after minorities was EUR -78.3 m (2008:EUR -2.2 m).

The positive operative performance is also reflected in a significant increasein operating cash flow, which reached EUR 94.4 m (+30.2 % compared to the firstnine months of 2008).The equity ratio of CA Immo at the balance sheet date reached 41.0 %. Net debtas of September 30, 2009 was EUR 1.5 bn (-2.9 %) compared to a real estateportfolio of EUR 3.7 bn. Cash and cash equivalents amounted to EUR 273.8 m. Netasset value (NAV) per share as of September 30 2009 was EUR 17.97 (Dec 31 2008:EUR 18.92).

Property-sales target already exceededDespite the challenging environment, property sales of over EUR 350 m wereeither finalized or agreed on a binding basis until the end of the third quarter2009. Of this figure EUR 229 m were already reflected in the accounts untilSeptember 30. CA Immo thus clearly exceeded the target of EUR 300 m of propertysales that was communicated at the beginning of the year.

Strengthening of Capital BaseAt the start of Q4 2009 CA Immo was able to significantly strengthen itsliquidity position by issuing a corporate bond amounting to EUR 150 m and aconvertible bond with a volume of EUR 135 m. Additionally, a refinancing packagewas completed under which existing loans were partially paid down and loanmaturity terms were expanded significantly. Dr. Bruno Ettenauer, CEO of CAImmo: "The experiences of the last 12 months have shown the prime importance ofa well balanced financing profile. It was therefore important to us to makeoptimum use of the market window that opened at the start of Q4 in order toplace the transactions successfully on the capital markets. We now have thenecessary financial flexibility, in terms of both the amount of liquidity andthe maturity profile of our financial liabilities, to be able to utiliseinvestment opportunities arising in the current phase of the market."

The financial report as of September 2009 of CA Immobilien Anlagen AG isavailable on www.caimmoag.com

Key financial figures| | | | ||in EUR million |1-9/2009 |1-9/2008 |change ||Rental income |134.3 |129.5 |3.7% ||Net operating income |118.2 |104.4 |13.3% ||Result from the sale of investment|13.1 |11.2 |17.1% ||properties | | | ||Indirect expenditure |-33.2 |-37.8 |-12.1% ||EBITDA |115.8 |92.0 |25.9% ||Depreciation |-6.5 |-3.7 |76.6% ||Revaluation result |-115.3 |-6.3 |n.a. ||EBIT |-6.1 |82.0 |n.a. ||Financing costs |-80.3 |-77.5 |n.a. ||Other financial result |-34.7 |5.5 |n.a. ||Net income before taxes (EBT) |-121.1 |10.0 |n.a. ||Consolidated net income |-127.0 |-0.6 |n.a. ||Consolidated net income, parent |-78.3 |-2.2 |n.a. ||company | | | ||Result per share (in EUR) |-0.91 |-0.03 |n.a. ||Operating cash flow |94.4 |72.5 |30.2% || | | | || |30 September |31 December 2008| || |2009 | | ||Property assets |3,659.8 |3,788.3 |-3.4% ||Total assets |4,207.0 |4,394.8 |-4.3% ||Lt. financial liabilities (incl. |1,632.7 |1,834.9 |-11.0% ||bond) | | | ||St. financial liabilities |193.1 |88.9 |117.2% ||Cash and cash equivalents |273.8 |321.4 |-14.8% ||Equity |1,722.8 |1,854.7 |-7.1% ||Equity ratio |41.0% |42.2% |-1.2pp ||NAV per share (in EUR) |17.97  |18.92 |-5.0% ||NNNAV per share (in EUR) |18.63  |20.50 |-9.1% |

Please address any queries to:

CA Immobilien Anlagen AGFlorian Nowotny (Investor Relations)Claudia Hainz (Investor Relations)Tel.: +43 (0)1 532 59 07Fax: +43 (0)1 532 59 07-595e-mail: ir@caimmoag.comwww.caimmoag.com

end of announcement euro adhoc