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Edith von Klitzing Focus


In October 2010 we put in our subscriber-line gallery of images from Edith von Klitzing. A taste you can see here - the whole picture of Edith von Klitzing , visit the website of the studio project in Munich.

provide picture galleries of our students we a month ago since January 2009. So there are already over 200 participants work come together so that you can form an impression of it, for which diversity of views of art and techniques in the courses and events of the studio project at present 12 teachers to get assistance.

Numerous photos with images from participants and, above all course situations can also be found on the pages of individual faculty. An overview of the entire site of the studio project, please visit our Sitemap .

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Studio Project Art Tip: Visit to the Museum Brandhorst


On Thursday, 09.30.2010, 17:45 clock, take a guided tour of the studio project lecturer Fred Breier held by the Museum Brandhorst .

Museum Brandhorst Museum enriches the landscape in Munich with works of contemporary art. Decisive positions current art work such as Gerhard Richter, Eric Fischl, Bruce Nauman, Cy Twombly, and many others are shown here. In the guide individual works in the collection are discussed.

meeting point: entrance Museum Brandhorst.

studio project BREI11/10 course number. Cost of the guide 9 € plus admission. Registration f.breier @ web.de or the project studio .

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group exhibition LW44 # 02


LW44 # 02 'ON, OFF, WITH PAPER'

drawings, prints, objects, paintings and installations on paper - with work by Stefan Moritz Becker , Oleksiy Koval , Kuros , Lisa Mayerhofer , Jess Walter

opening : Thu 10.21.2010, 19:00 clock
exhibition : Fri - Sun 22 - 24.10.2010, 14:00 - 19:00 clock reading
: Sun 10.24.2010, 19:00 clock, Jess Walter

The artists will be present throughout the exhibition.
LW44 is biodegradable and is committed to your cultural interests.

LW44 Kuros Nekouian, Lindwurmstraße 44 (4th floor)

www.lw44.de

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Immofinanz bought back in recent weeks bonds for EUR 50.8 million

Published today in the Financial Realty Quarterly Review of this paragraph in the notes '5. Events after the reporting date of 31 July 2010 'on page 40 is quite interesting:

Since 10 August 2010 by the IMMOFINANZ repurchased convertible bonds. The nominal value amounted to 22 September 2010 EUR 50.8 million

If you consider that the prices of the 2014er and 2017er bond - both of which can be terminated in 2012 ahead of the bondholders - well dip below the redemption price, here is a substantial exceptional profit was earned. This could be 50.8 million euros nominal bonds repurchased in order of magnitude of about 5 Million euros.
The exact value will be the company's Quarterly Report as of 10/31/2010 known, to be published on 20.12.2010.

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net profit reached 59 million euros higher

DGAP-Adhoc: IMMOFINANZ AG: Results for the 1st quarter 2010/11

IMMOFINANZ AG: Results for the 1st quarter 2010/11

IMMOFINANZ / Keyword (s): Quarterly results

27/09/2010 08:56

Release of an Ad hoc announcement, transmitted by DGAP - a company of EquityStory AG. For the message content of this announcement.

------------------------------------------------- ------------------- -------

* Turnover: EUR 183.7 million (previous year: EUR 179.2 million) * EBITDA: EUR 106.0 million (previous year: EUR 112.0 million) * EBIT: EUR 167.2 million (previous year: EUR 118.2 million) * EBT: EUR 65.5 million (previous year: EUR 154 6 million) * Net Income: EUR 59.0 million (previous year: EUR 136.2 million)

IMMOFINANZ Group posted first quarter after registration of the merger with IMMOEAST AG on the basis of reduced costs, a new operational and organizational alignment optimization is a solid, positive result, confirming the successful turnaround.

income from asset management in the 1st Quarter of the financial year 2010/11 were rental income of EUR 138.6 million achieved. This represents an increase of 3% over the same period last year (EUR 134.6 million). While sales revenue in the same period by 2.5% from EUR 179.2 million to EUR 183.7 million rose, were the proceeds from asset management to EUR 117.2 million stable (previous year: EUR 117.4 million ). Compared to the previous year, the revenue performance in retail, especially with the opening of the shopping center Golden Babylon Rostokino positive. Rental income for office declined due to property sales and the start of construction work in the previously rented quarters Gerling in Cologne.

income from property sales from the period under review, conducted real estate sales with a book value of EUR 49.9 million was generated revenues of EUR 6.7 million. Compared to last year generated income of EUR 3.1 million, this represents an increase of 113.9%. At the sold properties are predominantly residential properties in Austria.

income from real estate development through the sale of real estate stocks during the reporting period, revenues of EUR 15.1 million and revenues of EUR 6.0 million will be achieved. Compared to the previous year, the proceeds from home sales more than doubled, thus (prior year: EUR 7.2 million). The sale proceeds of real estate stocks relate to EUR 8.0 million to Austria, with EUR 5.1 million to Poland and EUR 2.0 million to Serbia.

EBITDA, EBIT, EBT, net income and cash flow, operating profit (EBITDA) decreased over the same period slightly by 5.3% from EUR 112.0 million to EUR 106.0 million, in particular to a decline in other operating income to EUR 13.4 million is due. Given the positive evaluation results in the amount of EUR 61.2 million (previous year: EUR 6.2 million), which is for the most part due to exchange rate effects, could EBIT of EUR 118.2 million by 41.4% to EUR 167.2 million increase. Since the financial result is both decreased because of the elimination of singular events (income from the repurchase of convertible bonds) and also due to exchange rate effects in the sum of EUR 36.4 million to EUR -101.6 million decreased income before taxes (EBT) of EUR 154.6 million to EUR 65.5 million. This led to a decrease in net profit of EUR 136.2 million to EUR 59.0 million.

Cash flow from earnings has fallen from above, from EUR 135.0 million to EUR 84.5 million. By demand reduction has this difference in cash flow from operating activities (EUR 113.7 million from previous year EUR 142 million) decreased significantly. Operating cash flow improved - with strategy - this year, from EUR 21.2 million the previous year to EUR 116.7 million, were offset by capital expenditure because the sales proceeds.

NAV per share and earnings per share Diluted Net Asset Value (NAV) per share increased compared to 30 April 2010 from EUR 4.78 to EUR 4.82. Thus, the IMMOFINANZ share is quoted on the basis of the share price as of 07.31.2010 (EUR 2.53) at a discount to NAV of 47.5%. Earnings per share for the first Quarter of 2010/11 EUR 0.06 (previous year: EUR 0.19). Q1

The detailed report is in the course of the day on the homepage www.immofinanz.com published

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TO 2 - Sara Rogenhofer including


compared with 2
art in the government of Upper Bavaria

work of Regine Chossy, Cosy Piero, Heike pill man, Gesa Puelles, Sara Rogenhofer, Luise Ramsauer

opening on 15 September, 15.30 clock, introduction by Klaus von Gaffron,
first Chairman of the Professional Association of Visual Artists in Munich and Upper Bavaria

Duration:
16.9. - 10/08/2010

opening times:
Mon - Fri, 7-19 clock

government of Upper Bavaria
Maximilianstrasse 39 80538 München


Also on view:

"In the world to be home"
works by Sara Rogenhofer and Lilith Lichtenberg

in the BBK gallery in the cultural memory, Würzburg

opening times:

Wed, Thu, Fri 11-18 Clock

Sat 13-20 clock

Veitshöchheimer Straße 5 97080 Würzburg

www.bbk-unterfranken.de

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Spotlight: Peter control

Peter control, sketches of fact and fiction

set in September 2010 we present in the studio project members Gallery 10 works by Peter tax, born 1947.

With visual art, he has been occupied for a long time. Since 2007, he took classes at the studio project, currently Jess Walter .