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Jelmoli (JMLIF.PK) Corporate news announcement processed and transmitted by Hugin ASA. The issuer is solely responsible for the content of this announcement. ---------------------------------------------------------------------- -------------- Marked rise in Jelmoli mid-year turnover, both per comparable sales floor area and absolute
Jelmoli Zurich turnover (including Specialty Businesses) for the first half-year 2008 was 2.5% higher than in 2007 per comparable sales floor area. Two closures due to unprofitability were more than offset by the successful new openings of two Molino restaurants in Geneva (Lacustre) and Zermatt (Seilerhaus).
Including the hotel operations taken over in Zermatt (Seiler acquisition) and Geneva, mid-year turnover rose overall by 30% to CHF 145.2 million.
Overall turnover of the Jelmoli Zurich shopping gallery (including external tenants) is markedly higher than per mid-year 2007 (+4.1%).
The remaining Fundgrube Bonne Occase Ltd stores will be successively closed by mid 2009 due to unsatisfactory profitability and a long-standing decline in turnover.
Following the sale of Fust to Coop, the relative turnover figures are no longer reported in detail but summarized under "discontinued business operations" for prior year.
Higher rental income About one third of the increase in rental income is attributable to the St. Gall shopping arena opened in March this year. The new Coop Hypermarket opening was delayed until June due to a pending decision by the Swiss Competition Commission.
Including additional contributions from the Seiler Group acquisition in November 2007 and the Sihlstrasse Zurich property reopening in the second quarter 2007, rental income per mid-year rose absolute by 19.3% or CHF 14.2 million to CHF 87.4 million.
Thanks to optimization of existing sales floor areas, above all at the large properties in Geneva, rental income per comparable sales floor area also rose significantly by 3.7%.
Ongoing rise in operating income All Jelmoli Group business units are progressing well. Operating income and net profit continue to benefit this year from the optimized cost basis. Furthermore, real estate development gains are expected in connection with the newly opened St. Gall shopping arena and associated market value assessment.
Turnover / rental income details per mid-year 2008
Key figures (million 2008 2007 Change from prior CHF) year nonadjusted comparable Turnover Jelmoli Zurich 145.2 111.7 + 30.0 % + 2.5 % 1) (including Specialty Businesses) Dipl. Ing. Fust / - 420.1 2) netto24 (sold per 30.11.07)
Rental income (total including own rentals) Jelmoli Group 87.4 73.2 + 19.3 % + 3.7 % 3)
1) Closures: Fundgrube store in Uster and Molino restaurant in Brig. New Molino restaurant openings in Zermatt (Seilerhaus) and Geneva (Lacustre). Hotel operations in Zermatt (Seiler acquisition per beginning of November 2007) and Geneva.
2) Sale of Dipl.Ing.Fust AG and netto24 AG to Coop per end of November 2007. Turnover figures no longer reported in detail but summarized for January to June 2007 under "discontinued business operations".
3) St. Gall shopping arena opening in 1st quarter 2008. Sihlstrasse property reopening in 2nd quarter 2007. Seiler Hotels acquisition per beginning of November 2007
Contact persons
Media: Dr. Daniel Gfeller, Secretary General Tel. +41 (0)44 220 42 29 Fax +41 (0)44 220 40 10 Internet: www.jelmoliholding.ch / www.huginonline.ch/JEL WAP-mobile: wap.huginonline.com (Press Releases Jelmoli) E-mail: info@jelmoliholding.ch
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Jelmoli ----------------------------------------- Jelmoli über WAP: wap.huginonline.com ----------------------------------------- St. Annagasse 18 Zürich
WKN: 851225; ISIN: CH0000668464; Index: SMCI, SPI, SPIEX; Listed: Main Market in SWX Swiss Exchange;
