PR Newswire/Les Echos/ Paris, 16 November 2009, 5:45 p.m. Quarterly information as at 30 September 2009 MARKED INCREASE IN RENTS 1) CONSOLIDATED REVENUE (NINE MONTHS) BREAICDOWN 01/01/2009 01/01/2008 Change (EUR millions) to to % 30/09/2009 30/09/2008 Investment properties 79.7 61.2 +30.2% Lease finance 16.7 22.2 -25.0% Property development 0.9 3.3 -73.3% Business centres 5.7 6.2 -8.7% Other(1) 2.7 7.5 -63.4% Total consolidated revenue 105.7 100.4 +5.3% (1) Financial and exceptional incomes Group turnover amounted to EUR105.7m, an increase of 5.3% compared to the first nine months of 2008 thanks to a sharp rise in rents from investment properties. Investment properties Turnover for the three property investment companies (Affine, AffiParis, Banimmo) rose sharply to almost EUR80m, up 30.2% compared to the same period in 2008. This was mainly the result firstly of a change in the consolidation perimeter due to acquisitions carried out in the first half of 2008 by AffiParis, and secondly of a particularly significant contribution by Banimmo. Due to the sharp deterioration in economic conditions at the end of 2008, the group endeavoured to strengthen links with its tenants at the start of 2009, in particular those whose leases were set to expire soon. Consequently, in the third quarter 5 major leases were renewed representing rental income of about EUR2.9m and several other leases are currently being renegotiated. 14 new leases were signed representing total rental income of EUR3.7m (including the lease of the Mer logistics platform to But). However, the group lost 7 tenants, representing total annual rental income of EUR779,000. There was a marked upturn in sales during the third quarter. During this period Affine sold offices in Toulouse, a warehouse in Bondy and shops in Bercy, for a total of around EUR7m. In July Banimmo sold Atlantic House in Belgium for a total of EUR30.8m by means of a private issue of real estate certificates. Finance leasing In Affine's finance lease business, five options were exercised in the third quarter of 2009. Revenues continued to fall due to the amortisation of portfolio transactions and the low production of potential new deals. Property development In connection with the first stage of the construction of the Portes de Chambord integrated development zone (ZAC) in Mer (41), central France, Concerto Développement completed construction of a 62,000 m2 building, delivered to the tenant But International at the beginning of October. The second stage, which involves the construction of three buildings with a total surface area of 65,000 m2, will be launched once marketing of the properties is complete. Business centres In a market that is still as competitive, BFI continued its activity with accumulated revenue of EUR5.7m since the start of the year. Operations in the third quarter were mainly marked by the extension of the Rueil-Malmaison Business Centre. 2) SIGNIFICANT EVENTS Promaffine and Concerto Développement Iberica closed their business at the start of the quarter. Ongoing operations were outsourced in connection with delegated contracting ownership agreements. The sale of the subsidiary BFI is still under way. 3) FINANCIAL POSITION AS AT 30 SEPTEMBER 2009 There were no significant changes in the group's financial structure compared to 30 June 2009. The group secured its current cash, without using the credit facilities at its disposal, for 2009 and 2010, and no significant loans will mature during those years. 4) OUTLOOK With the sale by Banimmo of the Sirius building for EUR70m in October, the group has entered the top bracket of its sales plan (EUR50-100m) drawn up at the start of the year, with sales of almost EUR120m. The group continues to sell non-core buildings and is preparing to resume investments in 2010. The group is continuing its strategy of focusing on its property investment business, aiming in particular to improve building return, strengthen its relationship with tenants and achieve better cost control. 5) SCHEDULE 9 March 2010: 2009 annual revenues and results CONSOLIDATED REVENUE (THREE MONTHS) BREAKDOWN 01/07/2009 01/07/2008 Change (EUR millions) to to % 30/09/2009 30/09/2008 Investment properties 28.9 21.3 +35.5% Lease finance 5.7 9.0 -36.5% Property development 1.1 0.4 +147.9% Business centres 1.9 2.0 -4.1% Other(1) 0.0 0.6 -69.4% Total consolidated revenue 37.6 33.3 +12.8% (1) Financial and exceptional incomes About the Affine Group: The Affine Group is structured around three property companies: - Affine, a property company with French REIT (SIIC) status listed on NYSE Euronext Paris, operates as an investor (offices, warehouses, stores) throughout France. It is also a credit institution in respect of its lease-finance business. The Affine share is included in the SBF 250 (CAC Small 90), SIIC IEIF and EPRA index. At 30 June 2009, its market capitalisation represents EUR102 million and its rental properties are estimated at EUR624 million transfer taxes included. - Banimmo, a Belgian property company listed on NYSE Euronext Brussels and Paris, is owned by Affine (50%) and the company's management (28.4%). It is mainly dedicated to renovating and repositioning buildings in Belgium, France and Luxembourg. At 30 June 2009, its market capitalisation amounted to around EUR142 million and its assets are estimated at EUR302 million transfer taxes included. - AffiParis, a French REIT (SIIC) listed on NYSE Euronext Paris, is specialised in commercial property within Paris. At 30 June 2009, Its market capitalisation amounted to EUR22 million and the value of its assets stands at EUR221 million transfer taxes included. The Group also have some subsidiaries among which Concerto Développement, specialised in logistics engineering. CONTACTS CITIGATE DEWE ROGERSON: Nicolas Castex - Agnès Villeret Tel. + 33 (0)1 53 32 78 88/95 - nicolas.castex@citigate.fr or agnes.villeret@citigate.fr AFFINE: Maryse Aulagnon - Alain Chaussard Tel. + 33 (0)1 44 90 43 10 - info@affine.fr Frank Lutz - Manager, Financial Communications & Investor Relations Tel. + 33 (0)1 44 90 43 53 - frank.lutz@affine.fr A French société anonyme with share capital of EUR47,800,000 - Registered Office: 4 square Edouard VII, 75009 PARIS Tel: 33 (0)1 44 90 43 00 - Fax: 33 (0)1 44 90 01 48 - E-mail address: info@affine.fr 712 048 735 RCS Paris - Intracommunity VAT no.FR92712048735 The content and accuracy of news releases published on this site and/or distributed by PR Newswire or its partners are the sole responsibility of the originating company or organisation. 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