IVG Immobilien AG (IVG) gained as much as 4.4 percent in Frankfurt trading after the German real-estate company said it will break even this year after selling assets.
IVG expects to report a “substantial” profit for 2013, the Bonn-based company said in a statement today. IVG posted a 2011 net loss of 126 million euros ($168 million), or 1.11 euros a share. Analysts expected a loss of 72 cents a share, the average of four estimates compiled by Bloomberg.
The shares were up 3.4 percent at 2.40 euros at 9:23 a.m., paring the decline for the past year to 57 percent.
To contact the reporter on this story: Andrew Blackman in Berlin at email@example.com.