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DGAP-News: FIHM Fund and Real Estate Holding AG, Munich: FIHM AG lays foundations for forced growth in the second half


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Munich, 17 May 2010
The FIHM AG has started behaving in fiscal year 2010. With an equity placement of 16.7 million euros in first quarter 2010, the FIHM achieved sales of 3.1 million euros, up slightly below plan.
In the business investment have the Changes over the same period most clearly in the Results reflected. The equity placement of 16.7 million € represents a decline of 22% over the previous year by 21.4 million Euro. The prior-year quarter was marked by the successful Sales start of the current real estate fund. Accordingly, the Sales revenues compared to the same period of 2.2 million Euro, 14% to 1.9 Mio € fallen.
The proceeds from the fund design and management lay with € 0.4 million, well below the expected Previous year of 3.8 million euros, largely through the proceeds Related to the current edition of the Real Estate Fund was marked. In the 2nd Half of the plans FIHM about another subsidiary introduce a new fund product in the market, with accompanied by corresponding income in 2010.
The other divisions performed well, whereby the share of recurrent revenue increased could. Revenues in Real Estate and Asset Management increased by 33% to € 1.6 million to 1.2 million € in the Same period last year. Background was essentially taking over the services the first real estate portfolio of the current real estate fund. In the Fiduciary activities range remained stable revenues and went to last year with around 0.4 million euros in the quarter results.
Operating costs were in first Quarter of 2010 with € 2.3 million on Last year. The operating profit EBITDA was minus 0.8 million euros. In the Previous year – primarily through the collection of Conception income of € 3.4 million – was the EBITDA at € 2.4 million. The EBIT was a loss compared to Euro 1.8 million to 1.6 million euros and the Net income totaled in the first Quarter of 2010 to minus 1.9 million euros compared to 1.6 million euros a year earlier.
Alexander Kames, CFO of FIHM commented AG: ‘The quarterly figures – Comply as far as the sales performance and the resulting Income relates – not our plans. For this to have other Areas better developed and the recurring revenues were be increased. During the second half years we are planning new Products, our growth in equity placed and the Design proceeds to accelerate significantly. The basis for an operational positive financial year, we have created. "
As part of the realignment of the company, the Group structure expanded and the competence in the various Business investment, real estate and asset management as well as Fiduciary activities strengthened. The broadening of activities to be Support of several new products lead, so that new asset classes be developed.
FIHM Fund and Real Estate Holding AG, the Munich FIHM Fund and Real Estate Holding AG, Munich is a diversified financial group with the business investment, real estate and asset Management and fiduciary activities. The subsidiaries are also independently in the market actively, while the FIHM Overall strategy of the Group defines, manages and provides services. The FIHM together under one roof many years of experience in the successfully design models of participation, expertise in the underlying asset classes as well as strong management and Strategy competence. For customers, this will be developed solutions that different requirements and to meet with a wide spectrum Asset classes are used.
Important Note This release does not constitute an offer to Sell or a solicitation of an offer to buy or Subscription of securities dar. A public offering of FIHM securities of the AG does not occur. This release does not Securities dar. This communication and the information it contains are not to directly or indirectly, to or within the United States of America, Canada, Australia or Japan.
Contact FIHM Fund and Real Estate Holding AG, Munich meadow Aud Einstein Ring 28 85609 Aschheim / München Tel: 089/452 456-0 Fax: 089/452 456-727 E-Mail: investor@fihm-ag.de
05.17.2010 08:19 Ad-hoc reports, financial news and Press releases transmitted by DGAP. Media Library under http://www.dgap-medientreff.de and http://www.dgap.de
Company Name: FIHM funds and real estate holding Munich AG; Country: Germany; VWD selectors: 1C