Bau-Verein zu Hamburg Aktien-Gesellschaft announces a net loss for the 6-months-period ended June 30, 2009 despite improved operating income resultsBau-Verein zu Hamburg AG

Bau-Verein zu Hamburg AG / Half Year Results
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Bau-Verein zu Hamburg Aktien-Gesellschaft, Hamburg, (Bau-Verein) announces a net loss for the 6-months-period ended June 30, 2009. Preliminary profit figures for the group reflect a loss of approximately 6 million euros after tax resp. 9 million euros before tax. Main reasons include revised assessments of fair-market-values for fixed assets of -3 million euros which are designed to anticipate potential year-end devaluations by our external auditors. Furthermore, the company has decided to make conservative accruals of -3 million euros as one-time entries for prior years' construction activities based on management's actualized and intense risk analysis in conjunction with the current financial crisis. Finally, we have accrued a provision for restructuring steps in the employment staff of the company.

Conversely, the operating business is performing well which is not obvious and visible in the bottom-line figures. Overall net sales for the 6-months-period more than doubled from 19 million euros in the preceding period to 47 million euros in the reporting year. The rental profit increased from 3.8 million euros in 2008 to 5.3 million euros in 2009.
All quoted figures are preliminary. The full 6-months-report will be published on August 13, 2009.

Bau-Verein zu Hamburg Aktien-Gesellschaft

Hamburg, August 6, 2009

Dominique Mann / Britta Lackenbauer
Investor Relations

Bau-Verein zu Hamburg AG
Steckelhörn 5
20457 Hamburg

Tel. (040) 380 32-305 / -386
Fax (040) 380 32-390
e-mail: info@bau-verein.de

06.08.2009  Financial News transmitted by DGAP
 
Language:     English
Issuer:       Bau-Verein zu Hamburg AG, Steckelhörn 5, 20457 Hamburg, Deutschland
Phone:        +49 (0)40 380 32-0
Fax:          +49 (0)40 380 32-388
E-mail:       info@bau-verein.de
Internet:     www.bau-verein.de
ISIN:         DE0005179006
WKN:          517900
Listed: Regulierter Markt in Frankfurt (Prime Standard), Hamburg; Freiverkehr in Berlin, Düsseldorf, München, Stuttgart 
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