MANAGEMENT PLATFORM REVENUES AT €80.1 MILLION (STABLE VS €79.9 MILLION AT JUNE30TH, 2010), IN LINE WITH YEAR-END TARGET
EBIT1 AT €28.1 MILLIONMAJOR IMPROVEMENT FROM THE €17.9 MILLION IN FIRST HALF 2010
MANAGEMENT PLATFORM RESULTS2 AT €12.9 MILLION, UP 15% ON €11.2 MILLION AT JUNE30TH, 2010, IN LINE WITH GOAL OF FOCUSING ON SERVICE ACTIVITIES (YEAR-END TARGET+15%/+25%)
REAL ESTATE SALES AT €1.1 BILLION (DOUBLE THOSE OF €562.1 MILLLION AT JUNE 30TH,2010): ALREADY IN PROXIMITY OF FY2011 TARGET (€1.5 BILLION)AVERAGE SALES MARGIN APPROX. 5% ON BOOK VALUE
POSITIVE CONSOLIDATED NET RESULT OF €0.5 MILLION, A MAJOR IMPROVEMENT ON NETLOSS OF €20.9 MILLION IN FIRST HALF 2010
NET FINANCIAL POSITION EXCLUDING SHAREHOLDER LOANS GRANTED AT -€474.1 MILLIONVERSUS -€459.5 MILLION AT END OF MARCH 2011 (-€424 MILLION AT END OF DECEMBER 2010);GEARING3 AT 0.79
TOTAL GAIN FOR PRELIOS IN THIRD QUARTER FROM THE ALREADY COMPLETED COINCLOSING AND IMMINENT RINASCENTE CLOSING WILL BE APPROX. €32 MILLION, WITHAN ESTIMATED POSITIVE IMPACT OF APPROX. €35 MILLION ON NET DEBT
NEW INCENTIVE PLAN INTRODUCED FOR MANAGEMENT
At today's meeting, the Board of Directors of Prelios S.p.A. examinedand approved the half-year financial report at June 30th, 2011.
First-half performance reports a positive trend in the principal financial indicators, inkeeping with the guidelines communicated to the market for the three-year period.Management platform revenues were stable compared with June 2010, despite continuedmarket weakness. EBIT has reached €28.1 million (+57% on June 2010), while themanagement platform result is €12.9 million, in line with the plan's growth target(+15/25%). In light of these results, the Company confirms the targets for 2011, and thestrategy and general targets of the 2012-2013 guidelines communicated to the marketlast March. In view of the current macroeconomic scenario, the Company also believes itappropriate to evaluate an acceleration of the 2012-2013 targets by giving priority to cashgeneration and cost savings.