Zurich, 1 February 2012 – Peach Property Group, one of the leading developers of top-quality residential property in the German-speaking part of Europe, today provided a forecast of its annual result 2011. In light of the fact that – as scheduled on the timeline – no major property development projects were concluded during the reporting year, income from property development will be considerably lower than that reported during the previous year. Income from investment properties, however, will be slightly higher as Peach Property Group acquired an extensive portfolio of investment properties in Munster, Germany, in the second half of 2011. Earnings from this transaction led to earnings from a revaluation in the second half of the year. On the basis of the preliminary figures, Peach Property Group expects to achieve a slightly better, though still negative, result for the second half of 2011 compared to that recorded in the first half of 2011.
According to the asset reporting for the 4th quarter of 2011, also published today, the market value of the property portfolio – based on a valuation performed by independent property valuers Wüest & Partner on 31 December 2011 – amounts to CHF 295.9 million. Properties under development account for CHF 274.3 thereof. This corresponds to 93% of the overall portfolio. Investment properties account for CHF 21.6 million or 7% of the portfolio.
Peach Property Group AG will publish its complete annual results on 2 April 2012 and present detailed information at a media and analysts’ conference. The asset reporting for the 4th quarter of 2011 is available on the Peach Property Group website under the following link:
Investors and analysts:
Dr Thomas Wolfensberger, Chief Executive Officer Bruno Birrer, Chief Operating Officer
+41 44 485 50 00
Siro Barino, Barino Consulting
+41 79 335 24 24
About Peach Property Group
Peach Property Group AG is a leading developer in the field of top-quality residential property in the German-speaking part of Europe. Activities cover the entire top-quality property development value chain from site surveying to project planning, implementation and marketing. Properties developed by Peach Property Group AG are located on exceptional sites in or near city centres and holiday resorts. Premier amenities meet the requirements of a demanding clientele.
Peach Property Group AG currently employs 34 real estate and finance specialists at its Zurich head office and at its Cologne branch. The Group is currently planning and implementing 14 projects with a total target marketing volume of approximately CHF 800 million. Peach Property Group AG is listed on the SIX Swiss Exchange (PEAN, ISIN CH0118530366).
Visit www.peachproperty.com for more information.