CA Immobilien Anlagen AG2009年年度报告.pdf

1、SUCCESS COMES TO THOSE WHO CAN MOVE WITH THE TIMES.To those who keep an open mind.Who are always striving for the optimum.Who recognise developments at an early stage and act quickly.And so,on closer inspection,our business in“immovable assets”reveals itself to be full of action,dynamism and perspec

2、tives.There is only one thing that is as immovably solid as our properties:the many years in which the CA Immo Group has positioned itself as a specialist in high-quality office property in Europe.KEY FIGURESKEY FIGURESINCOME STATEMENT20092008Rental income m 177.0 175.3EBITDA m 141.9 137.8Operating

3、result(EBIT)m 3.0 152.6Net income before taxes(EBT)m 134.5 295.4Consolidated net income m 134.7 294.9Consolidated net income w/o minorities m 76.9 237.1Operating cash flow m 120.5 114.6Capital expenditure m 274.9 1,859.1BALANCE SHEET20092008Total assets m 4,310.6 4,394.8 Shareholders equity m 1,729.

4、2 1,854.7 Long and short term financial liabilities m 1,976.5 1,923.7 Net debt m 1,472.3 1,591.1 Gearing%85 86 Equity ratio%40 42 Equity-to-fixed-assets ratio%49 49 Net asset value m 1,559.0 1,623.0 Net asset value(NNNAV)m 1,612.1 1,758.4 PROPERTY PORTFOLIO 20092008Total usable space(excl.parking,ex

5、cl.projects)sqm1,518,180 1,528,837 Gross yield of investment properties1)%6.56.3Book value of properties m3,515.83,788.31)Excluding the Capital Square,Dunacenter and Sava Business Center project completions that have been newly incorporated in the portfolio.04KEY FIGURESKEY FIGURES OF SHAREKEY FIGUR

6、ES PER SHARE20092008Rental income/share2.052.02Operating cash flow/share1.401.32Earnings/share(EPS)0.89 2.73NNNAV/share18.4720.50NAV/share17.8718.92Price(31.12.)/NNNAV per share 1 1)%57.24 79.51MULTIPLIERS20092008P/E ratio(PER)9 2Price/cash flow63 EV/EBITDA1419VALUATION20092008Market capitalisation(