POLIS Immobilien expects good 2011 result under IFRS but sees no basis for a dividend payout

POLIS Immobilien AG  / Key word(s): Final Results/Dividend

08.02.2012 18:44

Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.

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AD HOC RELEASE

POLIS Immobilien expects good 2011 result under IFRS but sees no basis for
a dividend payout
  - Improved earnings (IFRS) and positive valuation result for 2011
    expected

  - No positive earnings under German HGB accounting rules due to non-cash
    valuation losses

  - No basis for 2011 dividend

  - Preliminary figures to be published on 27 February 2012

Berlin, 08 February 2012 - Even though POLIS Immobilien AG [ISIN:
DE0006913304] looks back on a successful 2011 performance in operational
terms and expects an improved result under IFRS, the company does not
anticipate posting a net profit under German HGB accounting rules. In its
previous two quarterly reports the Managing Board had envisaged a positive
HGB result in view of good results from property sales, barring unforeseen
events.

The deviation from the HGB guidance is due to non-cash valuation losses
from interest rate hedges and valuation losses for individual investment
properties. The continuing decline in market interest rates led to a EUR 4
million loss on financial derivatives in the fourth quarter. Moreover,
individual properties incurred valuation losses as a result of a major
tenant terminating a lease as well as planned and scheduled maintenance
measures. German HGB accounting rules do not permit offsetting these
valuation losses against positive changes in the market values of other
investment properties.

POLIS Immobilien's operating results are in line with projections. 2011 saw
another good letting performance which pushed the occupancy rate to 84
percent (excluding one property earmarked for sale). The occupancy rate
will rise further in 2012 as tenants physically occupy already rented
space. In addition, POLIS Immobilien opened a new location in Dresden and
expanded it in the course of the year; characterized by very successful
letting rates. This transaction has entailed a highly positive valuation
result which has been confirmed by Feri EuroRating Services acting as
external appraisers. Last but not least, POLIS Immobilien successfully
recruited a foreign investor for three investment properties, thereby
marking its entry into a lucrative new business, namely third party asset
management. Against this background, the Managing Board anticipates an
improved result under IFRS despite the non-cash valuation losses.

--- End of ad hoc-release ---

The company intends to publish a summary of its annual results on 27
February, i.e. ahead of its participation in the DVFA-Immobilien-Konferenz
on 27/28 February 2012 in Frankfurt am Main. The Annual Report will be made
available to the capital market on 31 March 2012.

POLIS Immobilien AG, which was founded in Berlin in 1998, is listed real
estate company that buys, refurbishes/revitalises, and manages office
properties for its own portfolio. The company focuses on one market
segment: office properties in inner-city locations at the most important
German office centres. The company acquires properties that are either 
already renovated and are completely let, thereby generating stable cash 
flow, or properties that are vacant or require modernisation, and which
offer specific value appreciation potential. This potential may be realised
by corresponding modernisation measures or full revitalisation. As of 30
September 2011, POLIS Immobilien's real estate portfolio comprised a total
of 29 properties with a market value of around EUR 264 million. POLIS
Immobilien shares are listed on the regulated market (Prime Standard) of
the Frankfurt Securities Exchange. Further information can be found at
www.polis.de.

Investor Relations:                                    
POLIS Immobilien AG
Dr. Alan Cadmus
Phone: +49 30 225 00 250
Email: ir@polis.de
URL: www.polis.de

Press Contact:
Britta Cirkel 
HOSCHKE & CONSORTEN Public Relations GmbH
Phone: +49 40 36 90 50- 56
Email: b.cirkel@hoschke.de


08.02.2012 DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de

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Language:     English
Company:      POLIS Immobilien AG
              Rankestraße 5/6
              10789 Berlin
              Germany
Phone:        +49 30 225 00-261
Fax:          +49 30 225 00-299
E-mail:       info@polis.de
Internet:     www.polis.de
ISIN:         DE0006913304
WKN:          691330
Listed:       Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
              in Berlin, Hamburg, München
 
End of Announcement                             DGAP News-Service
 
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