Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

IVG Falls Most Since 2001 After Forecast Missed: Frankfurt Mover

IVG AG fell the most since September 2001 in Frankfurt trading after the German property investor missed its 2012 profit forecast and said it won’t pay a dividend. The shares dropped as much as 21 percent.

IVG said in a statement today that it had an annual loss of 98.7 million euros ($128.8 million) because of one-time costs tied to development projects. The Bonn-based company in July said it would “almost” break even.

“It is a negative surprise that IVG had to clean up the balance sheet again,” Jochen Rothenbacher, an analyst at Equinet Bank in Frankfurt, wrote in a note to investors today. “However, the one-off items are non-cash and the operational performance adjusted for these effects was in line with the company guidance.”

Rothenbacher cut his rating to reduce, a notch higher than sell, from buy.

IVG last reported an annual profit after tax in 2007. The company said the one-time costs stemmed mostly from projects and financing activities initiated in 2006 to 2008. IVG’s pretax loss narrowed to 86.9 million euros from 217.6 million euros.

The developer was down 18 percent at 1.89 euros at 10:45 a.m. in Frankfurt, cutting its market value to about 391 million euros and reducing the gain for the past six months to 3.8 percent.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.