DGAP-Adhoc: Peach Property Group AG announces profit for 2013

DGAP-Adhoc: Peach Property Group AG announces profit for 2013 

Peach Property Group AG   / Key word(s): Final Results

28.02.2014 18:19

Release of an ad hoc announcement pursuant to Art. 53 KR
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Press release 

Peach Property Group AG announces profit for 2013 

Zurich, 28 February 2014 - Peach Property Group AG, a leading property
investor and developer of high-quality residential real estate in the
German-speaking region of Europe, today announced that, contrary to
original estimates, it expects to have recorded a profit in the 2013
financial year. Despite one-off extraordinary charges amounting to more
than CHF 13 million, earnings before taxes will be just under CHF 2.9
million, which is more than in the previous year when the company posted
earnings before taxes of CHF 1.9 million. This means that earnings will
surpass expectations and the preliminary figures announced on 31 January
2014.

The Company today has a different view on a planned portfolio transaction
and hence maintains the balance sheet structure of its property assets
unchanged from the previous year - a decision that was taken in close
coordination with its auditors. In addition to facilitating comparability
with the previous year, this has the effect that earnings are higher than
originally estimated. All other income and expense items remain unaffected
by this and have not changed significantly compared with the previously
announced figures.

Peach Property Group AG will publish final figures for the 2013 financial
year and further details regarding its annual result on 13 March 2014 and
provide additional explanations during a media conference in Zurich on that
date.

Contacts
Media, investors and analysts
Dr. Thomas Wolfensberger, Chief Executive Officer and Dr. Marcel Kucher,
Chief Financial Officer
+41 (0) 44 485 50 00 | investors@peachproperty.com

Media Germany:
edicto GmbH, Axel Mühlhaus
+49 (0) 69 90 55 05 52 | amuehlhaus@edicto.de

About Peach Property Group
Peach Property Group AG one of the leading developers in the field of
top-quality residential property in the German-speaking region of Europe.
Its activities cover the entire prime property development value chain,
from site evaluation to project planning, implementation and marketing.
Peach Property Group focuses on city and holiday residences in exceptional
locations and featuring highest-quality fittings for a discerning
clientele. The company's integrated corporate strategy encompasses not only
the development of exclusive residential properties, but also the
management of investment properties for the purpose of generating
consistent annual revenues.

Peach Property Group AG is headquartered in Zurich and also has a branch
office in Cologne. The company's shares are listed on SIX Swiss Exchange
(PEAN, ISIN CH0118530366).

Visit www.peachproperty.com for more information.



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Additional features:
Document: http://n.equitystory.com/c/fncls.ssp?u=PBPSTCCCHF
Document title: Profit 2013


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Language:               English
Company:                Peach Property Group AG 
                        Seestrasse 346  
                        8038 Zürich
                        Switzerland
Phone:                  +41 44 485 50 00
Fax:                    +41 44 485 50 11
E-mail:                 investors@peachproperty.com
Internet:               www.peachproperty.com
ISIN:                   CH0118530366
Valor:                  A1C8PJ
Listed:                 Freiverkehr in Berlin, Stuttgart; Frankfurt in Open
                        Market ; SIX
 
End of Announcement                             EQS Group News-Service
 
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