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31 May 2012
Frankfurt am Main, Germany
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20 June 2012
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Germany's IVG reverses 2009 operating loss to E64m 2010 profit
Bonn-based IVG, Germany's largest listed property group, posted a net loss of E158m for 2009, sharply narrower than the E452m loss in 2008 but due entirely to E153m realised write-downs. EBIT reversed to a E64m profit from a E99m loss. IVG will pass the dividend. Adjusted net asset value per share amounted to E9.95, well down from E12.70 in December 2008 partly due to a capital increase last October. NAV per share, which has held stable since September, compared to the stock price last below E6. (See upcoming PIE Editions for full story)