ORCO looks back on a very successful year

Portfolio volume increased from EUR 260 million to EUR 917 million
Profit after taxes more than doubled

(Berlin / Frankfurt, April 10th, 2008). In spite of the various strains that the real estate industry and related sectors were subjected to in the 2007 fiscal year, ORCO Germany was able to increase sales by 8% to EUR 79.9 million. The operative earnings before interest and taxes (EBIT) more than tripled, from EUR 27 million to EUR 87 million. The annual surplus after taxes improved from EUR 21.9 million to EUR 55.9 million.

The gross receipts of the company increased significantly due to rental income, which rose from EUR 1.5 million in the preceding year to EUR 24.8 million. This was the result of the 2007 takeover of Gewerbesiedlungs-Gesellschaft mbh (GSG), comprising approximately 825,000 m² of office spaces and commercial areas. Consolidated over the six months of GSG’s being a part of ORCO Germany, its share amounted to EUR 19.7 million.
The value of the overall real estate portfolio amounted to EUR 917 million at the end of the 2007 fiscal year, and has thus increased by 250% as compared to the comparable value determined in the preceding year. In the 2007 fiscal year, ORCO made purchases totalling EUR 542 million.

Rainer Bormann, CEO of ORCO Germany, felt that “ORCO Germany has taken a positive development in an environment that was very difficult for real estate companies. This is because we were able to achieve our objectives: we have successfully reduced the vacancies of office spaces and commercial areas for ORCO-GSG, and our projects have developed in a promising way. One of the great strengths that ORCO Germany has is its ability to recognize the opportunities a project has to offer, and to develop these in a targeted and economic way. We will continue to pursue this strategy in 2008 as well.”

About ORCO Germany:

ORCO Germany S.A. is a real estate company listed in the Prime Standard on the Regulated Market of the Frankfurt Stock Exchange. The ORCO Germany group, which operates under the uniform registered trademark ORCO Germany, has been pursuing its activities in Germany since 2004 and concentrates on residential and commercial properties as well as on asset management and project development. ORCO Germany currently employs about 210 members of staff in Germany. ORCO Germany S.A. is a subsidiary of ORCO Property Group, one of the leading Central European real estate firms holding a portfolio worth EUR 2.4 billion (as evaluated on December 31st, 2007). Established in 1991, the company has its registered seat in Luxembourg and is listed on the Euronext, Prague, Budapest and Warsaw stock exchanges.

Contact
Sabrina Eilers
Head of Marketing & Communications
ORCO Germany
T +49. 30. 440 123 190
E seilers@orcogroup.com
www.orcogermany.de