In brief

INTERIM MANAGEMENT REPORT

IMMOBEL recorded a turnover of 48.2 MEUR at 30th June 2010, in sharp increase of 30.2 MEUR (i.e. + 168%) over the same period in 2009. This number generates a significant growth of the operating profit which reaches 10.6 MEUR, i.e. an increase of + 7.6 MEUR.

This progression is mainly linked to the “Offices” activity and in particular to the sale of the buildings of the first phase of the Forum project and to the sale of the Fonsny project. Compared to 30th June 2009, the “Residential” turnover has decreased by 39% while the “Landbanking” activity increased by 12%.