Successful first quarter 2010 for Engel & Völkers

&#8226 Commission revenues increase by 26 percent to 33.5 million euros

Hamburg, 09 April 2010. Engel & Völkers AG, Hamburg, has had a promising start to the 2010 financial year. In the first quarter, the globally operational group saw a 26 percent rise in total brand revenues over the same period in the previous year to approximately 33.5 million euros (Q1 2009: 26.7 million euros). CEO Christian Völkers commented on this growth as follows: It is the strength of our brand, coupled with consistent efforts to ensure that our pro- fessional standards remain the highest possible, that is now paying dividends.

Growth in non-domestic markets has had a major impact on this success, with brand revenues growing by 53 percent to around 10.6 million euros (Q1 2009: 6.9 million euros). Transactions have risen significantly in Germany too, however. The Residential property division underwent a growth in brand revenues of almost 14 percent, which totalled approximately 15 million euros at the end of the first quarter (Q1 2009: 13.2 million euros). Meanwhile the Commercial real estate division saw around 20 percent growth. As per the reporting date, the brand revenues generated here totalled 7.9 million euros (Q1 2009: 6.6 million euros).

Generally speaking, there seems to be an upturn on property markets worldwide, underlining the importance of real estate in the long run as a secure and stable investment, said Mr. Volkers, founder of the company. Based on these latest performance figures, Engel & Volkers is on course to match the revenues generated during the boom year of 2008 once again.

Growth in non-domestic markets has had a major impact on the success of the first quarter. Villas like this at Costa Brava are in great demand.

For further information please contact:

ENGEL & VÖLKERS
Princess Wittgenstein
Stadthausbrücke 5
20355 Hamburg
Germany

Phone: +49 40-36 13 11 20
Fax: +49 40-36 13 11 02
bettina.wittgenstein@engelvoelkers.com

german communications dbk AG
Jorg Bretschneider
Alsterufer 34
20354 Hamburg
Germany
Phone: +49 40-46 88 33 0
Fax: +49 40-47 81 80
presse@german-communications.com

 

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100409_PM_EngelVoelkers_2010_Q1_en

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