text:
O.S. GGT15 Gas
O.S. GGT15 Gas
Stock# LXEJRK
The convenience of glow in a gasoline engine.
Glow plug ignition makes the GGT15 a unique 15cc gasoline engine — its performance is the icing on the cake! Glow plug ignition makes it much easier to start up the GGT15, and there's no ignition module required! Additional features you'll find on this exceptional engine include specialized shell-type roller bearings and a 61H carburetor with PD-8 pump system. It's the perfect power plant for larger, .60-.91 class models.
Specifications:Displacement: 0.912 cu in (14.95 cc) Bore: 1.091 in (27.7 mm) Stroke: 0.976 in (24.8 mm)Practical RPM Range: 2,000-11,000, Output: 2.35 ps/2.32 hp @ 15,000 rpm Weight: Engine: 21.5 oz (610 g) Muffler: 6.28 oz (178 g) Ignition Module: 3.35 oz (95 g)
- Glow plug ignition
- Simple glow driver starts
- Simple 50:1 fuel:oil mix ratio
- 61H carb with PD-8 pump
- Shell-type roller bearings
- Ideal for 2-stroke .60 class and 4-stroke .91 class models


text:
Illuminating Liquid Foundation
Picture-perfect skin is now a reality with our illuminating liquid foundation.
This silky, lightweight formula glides on effortlessly for sheer to medium coverage that hides flaws and imperfections so you're left with a luminous, air brushed look. A silky, semi-matte finish evens out natural skin tone to uncover your true beauty.
Infused with Mica, tiny crystals found in nature, this skin illuminator reflects light, leaving you radiant and glowing. Perfect for sensitive or dry skin. Simply brilliant!
Size: 1 fl. oz.
|Please note all sales of this item are final.
Picture-perfect skin is now a reality with our illuminating liquid foundation.
This silky, lightweight formula glides on effortlessly for sheer to medium coverage that hides flaws and imperfections so you're left with a luminous, air brushed look. A silky, semi-matte finish evens out natural skin tone to uncover your true beauty.
Infused with Mica, tiny crystals found in nature, this skin illuminator reflects light, leaving you radiant and glowing. Perfect for sensitive or dry skin. Simply brilliant!
Size: 1 fl. oz.
|Please note all sales of this item are final.
ingredients: water\aqua\eau, mineral oil\paraffinum liquidum\huile minerale, butylene glycol, ethylhexyl stearate, ethylhexyl palmitate, propylene glycol stearate, caprylic/capric triglyceride, stearic acid, panthenol, tocopherol, ascorbyl palmitate, lecithin, retinyl palmitate, magnesium aluminum silicate, kaolin, simethicone, xanthan gum, caprylyl glycol, hexylene glycol, tea-isostearate, tea-stearate, cetyl alcohol, lanolin alcohol, polysorbate 20, disodium edta, phenoxyethanol, [+/- titanium dioxide (ci 77891), mica, iron oxides (ci 77491, ci 77492, ci 77499)]
- Use finger tips or Brush #27 for application.
- For more coverage, layer foundation where needed and use Cover-up Stick on targeted areas that need more coverage.
- One pump provides the perfect amount of product for a full application.
38 Reviews
Why discontinue the best foundation on the market? I have been happily using this foundation for years and was until now, very loyal to the brand stila. Lemme guess! You'll repackage it and sell it for a ridiculously inflated price?
Bring it back, please.
I am so upset to find out this has been discontinued. This is literally the ONE makeup item I never go without and I get complimented on it constantly. I really hope you'll consider bringing it back. So upset about this.
I love it
Bring it back! Its awesome!
Please bring this foundation back!!!!!!!!
This was the BEST foundation...why would you discontinue something that was perfect?? Please bring this product back!!!! Can't find anything like it.
just tried to purchase "illuminating liquid foundation" and learned it was discontinued, so upset, best foundation have been using for years, why???
Why is this discontinued??!!!!!
Is Stila aware that when you google "best foundation for dry skin" this foundation comes in as NUMBER ONE!!!!!!! What was the reasoning behind doing this? I'm so confused.
Stila Illuminating Foundation
Please do not discontinue this item. I have been wearing this foundation for years. When I could no longer purchase it in Sephora stores or Ulta, I was afraid it was being discontinued. I started stocking up online, but also started shopping for other foundations and cannot find anything remotely close to this foundation. Please bring it back!
You are making a mistake in discontinuing the Illuminating make- up. It is perfect and I will no longer be a customer because of your poor decision.
Need This
Tried this... loved it now not available??? What??? I've used a lot of high end foundation and love this! Pleas bring it back!
Horrors! Discontinuing the foundation I've used for years? Unacceptable. Don't like the new stuff, so I guess I will be defecting to another competitor. SUCH a bummer...
Please tell me you are planning on bringing the Illuminating foundation back!!! It's been my face for over 10 years. Everyone asks me what my foundation is and I have pointed many people to Stila Illuminating for years! Please someone from Stila tell us what is going on with this product.....!
Illuminating liquid foundation
I used #2 purchased at Sapporo I would love to purchase one but can't figure which one it is by your chart. Help me please asi love your product.
Please dont take my illuminating liquid!
This foundation is the only thing that saves my face every day. I'm a latina and the color match to my skin is perfection. The formula is perfection; better than Mercier and B. Brown. If you discontinue this, you will lose a long term customer!!!
I can't believe you are doing this!
I am shocked to see that you are discontinuing a solid 5 star product. Everyone who tries this product is in love. I have purchased your new product, and that's the one you should retire. It does NOTHING that we love about the illuminating foundation. It's thick and pasty, and where's my illumination? Gone. Please rethink this move...
This illuminating liquid foundation makes my skin absolutely glow. I lucked out in getting the perfect color (60 watts) when I purchased online and the flawless look is terrific. It is not a heavy coverage - I would call it light to medium coverage with one application over your moisturizer and primer. I let it dry for a few minutes then applied a second coat to get a bit more coverage so the product is buildable for denser coverage. I love, love, love the way it looks; so natural and yet covers the flaws. It doesn't get any better than this.
BEST foundation ever
I've been using this for years. I've tried others from low end to high end and nothing compares to this foundation. Makes my skin perfect, light feeling, not heavy or cakey, just pure PERFECTION! Don't ever discontinue, I'd go into makeup mourning! LOVE LOVE LOVE this!!
Please don't discontinue 20 Watts
I really like this foundation. I've been using it for a long time. I hope you're not discontinuing the 20 Watts Liquid Foundation. I'd hate to start looking for new foundation again.
please dont discontinue!
please dont discontinue! i cant find 30 watts anywhere!! there's no other foundation out there like this. gives me such a young dew finish. i need it!!!
Makes my skin look gorgeous
I was in the market for a new foundation. I've tried all the 'prestige' brands including Benefit, Urban Decay, "It" cosmetics, Tarte, etc. I fell in love with this foundation when the Stila rep put it on me. I was not expecting to like it that much. The best part is I have dry skin, and this foundation doesn't cling to pores or make my face look dryer. It brings a beautiful "glow" and feels light on my skin.
This is the perfect foundation for me!
I have really dry skin and have tried numerous face cosmetics and lotions and potions to help with the dryness. I was sooo scared to try any foundations because I thought that they would accentuate the dryness under my eyes. Well, this one doesn't do that. It gives me a beautiful glow, and makes me look like I have perfect skin. I am half-way through my first bottle now, and am going to be getting another one very soon so that i don't run out of this wonderful stuff! LOOOVE it and PLEASE don't EVER discontinue it!!
Best Foundation I have used yet!
This is my new favorite foundation. I have extremely dry skin and always had a problem finding a foundation that would either make my skin more dry or it would show the dry patches more. Until an associate at Sephora recommended this brand to me and i tried it and I'm in love with it. It is extrememly light weight feels like I have nothing on, for a foundation that has sheer to medium coverage it has excellent coverage and its buildiable so another plus and it does brighten your skin with a light glow. Anyone with extrememly dry skin and wants light foundation this is the way to go!
Great coverage and flawless finish!
I've tried many foundations in the past and wasted A LOT of money trying to find the right one. THIS IS *THE* ONE! The 40 watt matches my Korean skin tone PERFECTLY (even when I tan during the summers# and I ALWAYS receive compliments on how great my skin looks! I have a lot of redness on my cheekbones and this, along with the 40 watt powder, covers it well enough without using any concealer. This foundation is great because a little of it goes a long way! And if you accidentally put too much on your face, it doesn‰Ûªt become cake-y!! It‰Ûªs great! I always carry this foundation and powder in my purse wherever I go, although re-application of the foundation isn‰Ûªt necessary throughout the day ‰ÛÒ only the powder I‰Ûªll reapply if I get shiny! One little con is that although they changed the look of the bottle to a black cap #which is great, because the silver-colored paint from the bottle pictured on the website would slowly flake off and would get stuck on my hands and face, and I would have to use my nail to scoop the flakes off), the formula of the foundation changed to a thicker and gloppier consistency, and it now has a more noticeable, slightly unfavorable smell to it than the previous bottles with the silver cap/pump. It still gives the great, even finish, though. Overall, great product, but if the new smell of the black capped bottled formula could be reduced back to the original formula, that would be greatly appreciated! Otherwise, it makes me feel like I‰Ûªve received an old bottle with stale liquid foundation.
Good luminizer
While I love the fact that this is a luminizing foundation, it covers little more than a tinted moisturizer. I would say the coverage is between a tinted moisturizer and a foundation - so a light coverage foundation. Since I get breakouts and have dark circles I have to use a foundation over this and a concealer. However, I LOVE the way it makes my other foundation look! It lightens it up a but and keeps my face looking dewy. I purchased 40watts and I have light-medium skin tone, so in my opinion the colors run a bit light. Overall I would recommend to women who don't need more than light coverage, or, if you need more, for use under another foundation/concealer. A bit overpriced for the coverage, but good effect.
Radiance in a Bottle
I was surprised that Stila had such wonderful foundation selections. I have a tricky skin tone and always have difficulty finding a color to match. I instantly fell in love with the illuminating foundation. It made my skin look so radiant and natural without looking like I put on a lot of makeup. I found out that Stila really focuses on beautiful, healthy looking skin and foundations. It really shows. I definitely recommend this for the woman who wants a smooth, dewy finish and a natural look.
Great product
This illuminating foundation is light and makes a difference on my skin. I love it and highly recommend it. The product is cost effective too and a great value, as a little goes a long way, spreads on my face evenly. This product lasted longer (even with daily application) than any foundation I have ever used. I will definitely purchase this product again. Thanks, Stila, for the quality beauty products.
70 watts
I havent bought another foundation in about 2 yrs, since 1st trying this. It leaves your face looking flawless, not heavy at all, glowy. I love it.
This product is absolute perfection!
If you are looking for something that makes your skin look vibrant, young, and energetic, this is the product! I absolutely love how this foundation makes me look and feel!! Would def recommend, you will NOT be let down!
Amazing Coverage, Flawless Look
I absolutely love the Illuminating Liquid Foundation in 40 watts and 50 watts. I usually purchase both depending on the season when I need a little more (or less) color. This foundation is the best I have found and I've tried a TON! I love the coverage it gives, not too heavy but definitely hides certain areas. It leaves my face looking dewy and my face has a "glow" about it. Once you try this, you won't be purchasing any other foundation anytime soon!
Best Foundation
This is the best foundation I have ever used. I cannot find anything better than this product. It is perfection in a bottle.
Greatest Foundation
I've been using the foundation for many years. Its the best! I wouldn't think of changing to any others.
Great product but a little pricey
Overall, I love this foundation. I use the lightest shade and the color is a perfect match. But I find that Stila's foundation colors are always a really great match- never too cool, never too warm. As part of the illuminating line, it does make your skin look radiant. And the coverage is great. Light on the skin but gives you a flawless look. My only problem is that it's a bit pricey for one ounce of makeup. A little does go a long way though so I guess if you break it down by how many months you get out of it, it's decent.
This is my favourite foundation
This is my favourite foundation and my favourite product from Stila. The shade 20 watts is the best match to my asian skin tone that I found so far. What I like most is the tiny shimmer in it, it brightens my face. It doesn't cover very well though, but that's also what I like, it is so natural that no one can tell I wear foundation. The last but not least, I have dry skin, it moisturizes well too. This foundation meets every aspect of my needs.
Feels great!
I am fairly sensitive when it comes to foundations. Many get itchy after awhile. After deciding to switch from my current foundation, I tried this. It was great! It really looked smooth and even on my face and it never got itchy!
Love it!
I love the way this foundation gives my face a glow during the boring winter months. It also, has great coverage.
Love this foundation- covers enough without being heavy or thick. Gives my skin a luminous glow. Use it every day!
amazing foundation
I love this foundaiton! Its light weight, buildable and has a very soft shimmer. It doesn's snk in to my fine lines and doesn't have a fakey luminous shine. It gives a soft dewey appearance that I feel is more age-appropriate for me. It does a good job of evening out my skin ton
Great for dry skin!
This is my FAVORITE foundation ever! The best! First off - this is one of the only foundations that actually matches my very fair Irish skin tone. Second, it's very moisturizing and works wonderfully for my also dry skin! It goes on light and is not heavy. Love love love!
HG Status
Bought this in high school cause Britney Spears wore it at the music awards, haha, have been wearing it ever since (9 years). I've tried other foundations but this is the best. It's sheer enough to wear year round, yet buildable so that I can get a more full coverage when needed. This is definately my HG foundation.
You May Also Like

subset: commoncrawl


text: Dingo (Meat in the Middle) Bone PRODUCT REVIEWS PAGE 1 OF 17 This healthy snack for your pets gets them wanting to come back for more every time. The Dingo Bone is a great source of protein and is low fat too! It's great for puppies who are teething. Options Available: Natural,6'' Small 4" (1.4oz) Medium 5.5-6" (2.5oz) Shop Dingo (Meat in the Middle) Bone Rated 5 out of 5 by 133 reviewers. Rated 5 out of 5by dogs great dog bones My dogs absolutely love their dingo bones! I like how dingos tend to dissolve as my dog chews and eats them. Other rawhide bones don't do that and become choking hazards, but not Dingos! I like these bones because they're also my dog's favorite. It must be the meat flavoring in the middle, it keeps him busy for hours! 01/03/2016Rated 5 out of 5by LoriK Great chewing treat : ) My dog is very picky when it comes to his treats...but he loves this! 03/30/2015Rated 5 out of 5by zapper my boygs go crazy my dogs love these. i normly get the dental ones from fortinos. i would like to buy in bulk 03/29/2015Rated 5 out of 5by Ladyrider My dogs LOVELOVELOVE Dingo bones My two dogs love these treats. They get one after each meal and also in the middle of the day. Happy dogs, and their teeth are fantastic. No dental procedures needed - one dog is 10 y/o and the other 5 y/o. Wonderful tasty product. 02/11/2015Rated 5 out of 5by Jackfrostnc Best bone on the market Both of my boys love Dingo bones. Once they hear or see the package they sit until they get their reward. 08/07/2013Rated 5 out of 5by redball Dingo Twist , Chicken in the middle !!! We would like to thank you for the great job of creating this rawhide . We have a boxer mix dog that craves the delicious chicken flavor twist rawhide . She greets us daily with anticipation of receiving her treat . She would love to receive any left over samples that you may have . Once again , thank you for making a great product that our family member enjoys !!! 07/30/2013Rated 5 out of 5by TivaandTugasMom Make's My Dog's Happy All my dog's have been raised on Dingo Bones. New Puppy Tuga started on the Dingo Rounds with just a little cream cheese smeared on it. She went crazy. Big Sister Tiva is on the large Dingo Bones and just loves them. When I go to the "treat drawer" to get them their bones it is like a "Feeding Frency". It is nothing less then pure HAPPINESS! 06/04/2013Rated 5 out of 5by Tukie Dog's Favorite Dog gets one a month and knows where I store them. She knows when it is time and sits by the door where they are stored, until I get it for her. 05/07/2013 Page 1 of 17 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17


text:
calling n-1 time step
Hello sir,
In my transient simulation i have an expression which depends on n-1 time step temperature value how to call n-1 temperature value while solving..
Thank you
There is no easy way to do this in CFX.
If you do a search of the forum you can find some tips on how to do it by editting the VARIABLES file I think it was (search for update loops I think it was) but it is not a nice solution.
|All times are GMT -4. The time now is 20:30.


text:
2010 National Juried Show
The 22nd National Juried Show
By Johanna Alford,
The 2010 National Juried Show was exhibited at the TELUS Convention Centre in Calgary, Alberta, in conjunction with Quilt Canada, from April 28 to May 1, 2010. Ninety-two outstanding pieces were juried into the show. In late January, Jury Coordinator Nancy Trowbridge met with the three jurors, Heather Stewart, Jim Wilford, and Georgeanne Welsh to make the selections for this year's show. In April, the juried entries arrived in Calgary and under the guidance of the the local NJS Coordinator, Betty Bailey. Our three judges: Lily Lam, Susan Purney Mark and Bonnie Voice completed the task of choosing this year's award winning entries.
On the evening of April 27, 2010, it was my pleasure to present the awards at the National Juried Show Awards Presentation at the TELUS Convention Centre, with the assistance of the Board of Directors.
Congratulations to all of the participants whose pieces were selected to hang in this show and to all of the award winners. The colour catalogue, included with the autumn issue of The Canadian Quilter, will display all of the entries accepted into the 2010 NJS. The catalogue also lists the sponsors for each award and we give a special thank you to those sponsors for their continued support of this event and of CQA/ACC.
On behalf of the Board of Directors, I also wish to give a special thank-you to all involved in this years' National Juried Show, beginning with the jurors and extending to the local volunteers who assisted during the judging and hanging process.
At this time I would like to extend an invitation to our members to join us in May 2011 in London, Ontario at the 23nd National Juried Show.
National Juried Show 2010
Click on image for a larger view
Escape to Surreal
Night Drawing #16
CQA/ACC rosette
Fifty Six Years Old
Ruffled Feathers
Quiet Winter Frost
Hungary for Pineapple
CQA/ACC rosette
Oriental Treasures
Tickled Pink
CQA/ACC rosette
Nancy's Baltimore
Liberty Sisters
Little Gems in My Garden
The Secret Workshop, Mr. J. Frederick Mills
Instruments of Praise
Remember Us
Threads in Her Hands


text:
Karachi, Oct 2: Former Pakistan captain Shoaib Malik feels his ex-teammate Shoaib Akhtar's remarks against Indian icons Sachin Tendulkar and Rahul Dravid in his autobiography were in "bad taste" and he should have been more careful while commenting on such legends.
Malik said while he was not taking the book, ''Controversially Yours'', too seriously but Akhtar should have been guarded while passing judgements.
"Shoaib should have been careful while talking about cricketers who are legends in their countries whether it is Pakistan or India. You shouldn''t be so judgemental when talking about great players because it is in bad taste," Malik said.
Akhtar has been widely criticised for his disparaging remarks against Tendulkar and Dravid by fans and former players alike.
Talking about his own cricketing future, Malik, who is eager to cement back his place in the national squad, said he considers Test cricket the ultimate challenge for any player.
The all-rounder also said he had no interest in the captaincy and was only focusing on cementing his place in the national team.
"Captaincy is not an issue for me nor am I thinking about it because frankly speaking at present I am fortunate to get another chance and make a comeback to the national side. The tour to Zimbabwe was a disappointing one for me and at present I know I need to justify my place in the side," he said.
Malik admitted that he had struggled on returning to international cricket after nearly a year in Zimbabwe.


text:
Statue in pyrenean stone reproducing the donkey. Hand-made and painted by the artisan nuns of the Monastery of Bethleem in France.
This item can be part of the small creche set.
If you want to see the complete small creche in white CLICK HERE
If you want to see the complete small creche painted CLICK HERE
- Model: BE001063
- Shipping Weight: 0.2Kg
- Materials: pyrenean stone
- Origin: France
- MEASURESUnits:
- Height: 8 cm
- MEASURESUnits:
- Height: 3.15 in


text:
Through a vigorous regimen of boxing, hills and running, Lewis has shed nearly 20 pounds since minicamp to report to McDaniel College at 240 pounds.
His body-fat percentage and overall health have improved to the point that Lewis, 23, is reminiscing about his early college days at Tennessee when he was the leading freshman rusher in the nation.
"Yeah, I feel quicker," Lewis said. "I feel much faster. My weight is down a lot. My body fat is down a lot. So, I feel like I'm back to the old Jamal. Not 'rookie year Jamal' but 'college Jamal.'"
That version of Lewis was the one without surgeries on both knees, including one after an injury to his right knee that cost him his sophomore season with the Volunteers.
Now, Lewis has recovered well again after previously rehabilitating his right knee well enough to leave school after his junior season and be drafted fifth overall three years ago. Lewis managed to rush for 1,327 yards and six touchdowns last season despite question marks about how well he would recover from the surgery on his left knee.
Still, Lewis lacked the consistent element of breakaway speed and his endurance wasn't ideal. The knee simply wouldn't allow him to do all that his mind envisioned.
The operative theory in sports is that an athlete isn't truly 100 percent until the second year after a knee injury.
"It's amazing to watch Jamal's opening week of practice, how he carried himself, the quickness, the speed," Ravens coach Brian Billick said. "Compared to where he is today, keeping in mind that he had a pretty good year, it's exciting to think about what a good year he might have."
"It surprised me how early he looked good last year and anyone could see he got stronger as the year went on. There is some legitimacy to the two-year process, and the way he looks right now he's going to have a great year."
Reckless abandon defines Lewis' running style, simultaneously a hindrance and an advantage. Occasionally, Lewis leaves himself open for fumbles while stretching for extra yardage or vicious tackles when his timing is off on leaps toward the end zone.
During practice Tuesday morning, Lewis was nailed a few times on aborted leaps to the goal line. Once, linebacker Bart Scott nailed him at the apex of his jump. Another time, cornerback Chris McAlister plowed into him after his initial charge was stopped.
The hits didn't faze Lewis, though.
"He likes to go up and over," Billick said. "He scares the hell out of me every time he does it." Last season, Lewis fumbled eight times, losing seven. For his career, he has 14 fumbles with nine lost.
Still, Lewis finished sixth in the AFC in rushing last season while establishing a career-high with 47 receptions for 443 yards and one touchdown. The major difference in Lewis was not always finishing off his runs.
Traditionally, Lewis' top seasons have come when he's in optimum condition. He's banking on that not being a mere coincidence.
"With me, it's been one year on, one year off, one year halfway," Lewis said. "It's kind of like the beginning of my career in the league and the beginning of my career in college. Those have pretty much been my best years, my most conditioned years."
With the Ravens' quarterback situation remaining unsettled, it's a fair bet that the Ravens' offensive style will be centered heavily around Lewis' bruising running and Pro Bowl tight end Todd Heap.
Also, the Ravens have a hefty offensive line featuring All-Pro tackle Jonathan Ogden, guards Edwin Mulitalo and Bennie Anderson along with intense right tackle Orlando "Zeus" Brown.
When the Ravens won the Super Bowl in Lewis' rookie season, he set a club record with 1,364 yards rushing and the team ranked fifth in the league in rushing offense.
"We're going to have the nasty attitude of, 'Just go out there and hit them in the mouth," fullback Alan Ricard said. "With Zeus, the rest of the guys, me and Jamal, we look forward to being the bullies."
That's right up Lewis' alley.
Lewis spent all those countless hours down in his hometown of Atlanta pounding punching bags. Now, he wants to inflict some punishment on the football field.
"We've got to be confident and manhandle some of these defenses," Lewis said. "I'm excited about this year."
NOTE: The Ravens continued their tradition of hazing rookies who hold out.
Rookie quarterback Kyle Boller's brand new Cadillac Escalade sports utility vehicle was towed past him while he conducted a live television interview.
It was later returned to him, though.
Aaron Wilson writes for the Carroll County Times.


text:
Monday, April 14, 2014
Further Tax Scrutiny of Mergers
2 comments:
One important aspect is the retrospective applicability of the January 15 Circular. Though the Circular per se does not empower retrospective applicability, the schemes pending since early 2012 and now approaching the final stages, are also being sent to the ITA for scrutiny.
It would be interesting to see if this is challenged at any HC.
- April 15, 2014 at 1:55 AM
Quite interesting is the order of the Bombay High Court in Income Tax Appeal (L) 1369 of 2012, CIT v. Finolex Cables. The question arose as to whether the losses of a loss-making entity amelgamated with a profi-making company can be set off in the hands of the profit-making company. Some extracts (full text: http://bombayhighcourt.nic.in/generatenewauth.php?auth=cGF0aD0uL2RhdGEvb3JpZ2luYWwvMjAxMy8mZm5hbWU9SVRYQTEzNjkxMjMwMDExMy5wZGYmc21mbGFnPU4=)
As regards question (a) is concerned, counsel on both sides state that the said issue is concluded by the decision of this Court in the matter of Commissioner of Income Tax V/s. Swastik Rubber Products Limited reported in (1983) 140 ITR 304 (Bom). Mr.Gupta, learned Advocate appearing for the Revenue relied upon the decision of the Supreme Court in the matter of Marshall Sons and Co (India) Limited V/s. Incometax Officer reported in (1997) 223 ITR 809, wherein the Court had observed that:
"We, however, make it clear that we have not expressed any opinion on the plea of the learned counsel for the Revenue that the amalgamation itself is a device designed to evade the taxes legitimately payable by the subsidiary company. If the incometax authorities think that they are entitled to raise this question in the proceedings under the incometax Act, it is open to them to do so by way of separate proceedings according
to law."
The aforesaid observations of the Supreme Court only enables the Revenue to challenge the order of the Court sanctioning amalgamation in accordance with law. Once the Court has sanctioned the amalgamation, it is not open to the Revenue to disregard the same unless the same is varied by a competent Court…
In view of this, what exactly is the scope for interference by the IT Department?
- April 16, 2014 at 10:57 AM


text:
When was the last time you checked up on the health of your SEO campaigns? As it nears the year's end, it is a perfect time to dive into your analytics and campaign history to see which tactics worked well for you in 2011 and where some tender care may be needed for a healthy 2012.
What were some of your concerns today? Let's diagnose a few here:
Q: I'm not sure if my website is being crawled as frequently as it needs to be. What is a 'good' crawl frequency?
A: It is a good sign if you see that Google is crawling your site on a weekly or bi-weekly basis. The best way to check your crawl frequency is to look at your homepage cache. You can also examine how many of your site pages are being indexed on the search engines. This will allow you to see which pages are being recognized by the search crawlers. Search your website on Google or Bing by typing in:
Here, you will be able to identify exactly which pages are being indexed by Google or Bing.
Q: I'm not sure if my current keywords are bringing in quality traffic evenly. How can I tell which keywords are performing best?
A: Dive into your Google Analytics and take a look at your visitor bounce rate. Which keywords are these visitors riding on as they arrive to your site? When are they leaving? Why do you think they are leaving? Visitor abandonment can occur if the keywords your site is ranking on are not relevant or specific enough to your product or offering. Therefore, when searchers click on your site with the expectation that their query will be a good match to your offering, and then find it isn't what they were looking for, it is time to re-evaluate your keyword selection.
Conduct keyword research by finding out if enough people are searching on your target keyword phrases. What is the average traffic frequency on each keyword? Work to optimize on the keyword phrases that are working best and modify the ones that are performing poorly.
Q: My page titles are really long. Is this something I should fix?
A: On-page optimization checks start with analyzing your page titles. Does your homepage browser page title say "Homepage"? If so, it is time to fix it! A major SEO rule of thumb is to create a keyword-rich page title for each page of your site, especially the homepage. Your homepage should be treated as the face of your business – for your audience and the search engines.
Include keywords at the start of your page title if possible. Use a call-to-action if you can and keep it short. Page titles don't need to be long to make an impact. Instead, it is actually more effective if you use a brief, clear, keyword-centered title for each page of your site. And remember, page titles affect your click-through rate and are often considered the most important page ranking factor.
Don't forget to save your seat for our upcoming webinar: Back to SEO Basics: 5 Critical Metrics You Must Measure and Master. Seating will be limited!


text:
Found some awesome speedpaint brushes so I used them a lot to paint this. I'm pleased with how this turned out, though the anatomy could be better.
cool one!
Gotta adore your work Koa!~
Could stare at this for ever <3
Could stare at this for ever <3
Im jelly. Your the best artist i've ever seen ;o; <3
Haha there are many artists even more talented than me, but thank you. ^^
that is so cool!
I love the eyes.
I'm marrying this picture whether you like it or not. ;___;
I'm marrying this picture whether you like it or not. ;___;
Awesome, i love the shadows in the snow
I'm jealous, this is amazing!
wow, this is beautiful. how long did it take?
I'm so jealous of your art style <3
It's amazing c:
It's amazing c:
Great job! This is fantastic


text:
Content. I. Highlights 9M Financials. Portfolio and Platform. Acquisitions and Disposals. V. TAG Share. TAG Management Team. Outlook / Guidance
- Bertha Fleming
- 1 years ago
- Views:
1 9M 2014 Figures
2 CONTENT Content 2 I. Highlights 9M II. Financials 5 III. Portfolio and Platform 11 IV. Acquisitions and Disposals 16 V. TAG Share 19 VI. TAG Management Team 22 VII. Outlook / Guidance 25 VIII. Strategy Update 27 IX. Appendix 29
3 3 Highlights 9M 2014 TAG Immobilien AG H1 figures 2014
4 OVERVIEW TAG Highlights 9M Overview of financial metrics (9M 2014) Sale of properties in Berlin (Marzahn) in Nov Rental income (total): EUR 192.9m (EUR 188.0m in 9M 2013) Net rental income (total): EUR 158.1m (EUR 149.5m in 9M 2013) FFO I/s (as previously reported): EUR 0.51 FFO I/s (re-defined): EUR 0.48 EPRA NAV/s (as previously reported): EUR 9.66, fully diluted EUR 9.44 EPRA NAV/s (re-defined): EUR 10.16, fully diluted EUR 9.89 Vacancy: residential units: 8.6% (8.9% end of 2013) Salzgitter region: 16.6% (18.6% end of 2013) LTV of 61.6% (64.7% incl. convertible bonds) Results from share repurchase tender Share buy-back of 13,127,178 shares was completed on 14-Oct-2014 for an average price of EUR 9.30 per share TAG will retain the shares and keep them as treasury shares or use them for existing convertibles Purchase price: EUR 170.4m, book profit (IFRS, after annual revaluation): approx. EUR 35m NAV impact in Q (before breakage fees from related financing) approx. EUR 0.30/s Net cash proceeds of approx. EUR 72m Proof of TAG s successful capital recycling and asset management in the past years Re-definition of key metrics FFO definition and FFO/s (adjusted for cash taxes and impairment losses on rent receivables) NAV definition and NAV/s (adjusted for deferred taxes and presented alternatively including standardized transaction costs) Outlook 2014 FFO/s: EUR 0.69 (as previously reported) and EUR 0.64 (re-defined) 2015 FFO/s: EUR (as previously reported) and EUR (re-defined) Dividend per share: EUR 0.50 (2014) and EUR 0.55 (2015)
5 5 Financials TAG Immobilien AG H1 figures 2014
6 FINANCIALS TAG Income Statement (IFRS) Including commercial (in EUR millions) 9M M 2013 FY 2013 Q Q Rental income Expenses from property management Net rental income Margin 82.0% 79.5% 79.3% 81.4% 80.1% Net revenue from sales Net income from property management Other operating income Net fair value gains and losses Gross profit Personnel expenses Depreciation Impairment losses on receivables and inventories Other operating expenses EBIT Net interest result EBT Income tax Net income sdisposal of commercial portfolio in May 2014; closing of 3,000 unit acquisition during H1, closing of 4,000 unit acquisition in August 2014 Increased margin due to more efficient platform Mainly refers to income from reversal of provisions, deconsolidation gain commercial portfolio and de-recognition of liabilities from prior periods Annual revaluation by CBRE in Q3; revaluation gain of EUR 27.9m; EUR 16.7m gain from first time fair value valuation of new acquisitions Increased costs due to higher number of people employed (new ERP-Team, increased number of people working in TAG's own property management due to insourcing activities) Includes write-off of receivable for purchase price sale of Polares GmbH in Q1 (EUR 5.7m) Includes one-offs from derivatives in 2014 (EUR 9.8m) 6 Tax expense mainly refers to deferred taxes from revaluation gains
7 FFO TAG FFO Calculation (Re-defined) 7 (in EUR millions) 9M M 2013 FY 2013 Q Q Net income Taxes Net financial result EBIT Net financial result (cash) Cash taxes Net profit from investments/associates Adjustments Valuation result Revaluation of real estate inventory Deconsolidation commercial portfolio Depreciation Impairment losses on receivables and inventories One off s refinancing One off s personnel-costs and project costs Results from sales Impairment losses on rent receivables = FFO I (re-defined) FFO I (as previously reported) CAPEX = AFFO FFO I + results from sales = FFO II Number of shares (outstanding) (in 000) 118, , , , ,765 FFO I per share (EUR) (re-defined) FFO I per share (EUR) (as previously reported) AFFO per share (EUR) (re-defined) Number of shares, fully diluted (in 000) 132, , , , ,856 FFO I per share (EUR) (re-defined), fully diluted AFFO per share (EUR) (re-defined), fully diluted
8 KEY BALANCE SHEET ITEMS TAG Balance Sheet (IFRS) 8 (in EUR millions) 30-Sep Jun Dec-2013 Non-current assets 3, , ,581.2 Investment property 3, , ,544.1 Other financial assets Other non-current assets Current assets Real estate inventory Cash and cash equivalents Other current assets Non-current assets available-for-sale TOTAL ASSETS 3, , ,763.3 Equity (including minority interest) 1, , ,127.4 Minority interest Non-current liabilities 2, , ,390.3 Financial debt 2, , ,250.1 Deferred tax liabilities Other non-current liabilities Current liabilities 263, ,6 Financial debt Other current liabilities TOTAL EQUITY AND LIABILITIES 3, , ,763.3 Increase in Q3 due to closing of 4,000 unit acquisition in August and annual revaluation Does not include bank loans (already available but not yet called) and further credit lines of EUR 146.1m; hence, available cash at about EUR 250m sshare repurchase of EUR 122.1m already shown in Q3 2014; net income of EUR 63.5m as of 30-Sep-2014 Share repurchase of EUR 122.1m already shown in Q LTV (excl. convertible bond) 61.6 % 61.5 % 62.1 % LTV 64.7 % 64.8 % 65.0 %
9 NAV TAG Valuation NAV (Re-defined) 9 (in EUR millions) 30-Sep Jun Dec-2013 Equity (without minorities) 1, , , Deferred taxes Fair value of financial derivatives = EPRA NAV (as previously reported) 1, , , Deferred taxes (except on investment properties and financial derivatives) = EPRA NAV (re-defined, pre-transaction costs) 1, , , Standardized transaction costs = EPRA NAV (re-defined, post-transaction costs) 1, , ,148.4 Number of shares (outstanding) (in 000) 118,185* 131, ,298 EPRA NAV per share (EUR) (re-defined, pre-transaction costs) EPRA NAV per share (EUR) (re-defined, post-transaction costs) EPRA NAV per share (EUR) (as previously reported) Number of shares, fully diluted (in 000) 132, , ,110 EPRA NAV per share (EUR) (re-defined, pre-transaction costs), fully diluted * Completion of share repurchase
10 in EURm DEBT FINANCING STRUCTURE TAG Debt financing structure Debt maturity profile as of 30-Sep Interest rates and maturities (in EUR millions) Current amount Average interest rate Maturing in the next 3 years Average interest rate (maturing in the next 3 years) Bonds % >2024 Bank loans Corporate bonds Convertible bonds Convertibles % % Bank loans 1, % % Total 2, % % Upcoming refinancing in the short- to medium-term TAG targets the early refinancing of upcoming debt maturities Recently, TAG financed EUR 80m at 1.78% for a 7 year term Within the next 3 years, EUR 483m of financial debt will mature Convertible expiring in December 2015 (EUR 35m) in the money, conversion price of EUR 6.67 (in EUR millions) 9M 2014 H FY Interest income Interest expenses = Net financial result thereof non-cash financial result related to convertible bonds thereof non-cash financial result related to corporate bonds thereof non-cash related to derivatives thereof other non-cash financial result and one off s (1) = Net financial result (cash) (1) Includes other non cash financial income, other expenses and one off s from refinancing
11 11 Portfolio and Platform TAG Immobilien AG H1 figures 2014
12 PORTFOLIO TAG Portfolio in total 9M Growth in recent years and disposal of commercial portfolio has triggered the need for an update of geographic portfolio regions Renewed definitions of geographic regions in accordance with decentralized management clusters and strategic relevance Improved geographic allocation and increased level of transparency Portfolio as of 30-Sep-2014 Total Units 74,318 Rentable area in sqm 4,545,045 Real estate volume in TEUR 3,530,459 Net actual rent in EUR/ sqm/month 5.17 Vacancy in % 9.3
13 PORTFOLIO TAG Portfolio 9M 2014 by region Region Units # IFRS BV TEUR In-place yield % Vacancy % Net inplace rent EUR / sqm Reletting rent EUR / sqm L-f-l rental growth y-o-y % Maintenance EUR / sqm Capex EUR / sqm Comments Berlin 13, , % 4.7% % Consider opportunistic disposals at premium to IFRS BV Dresden 9, , % 9.1% % Erfurt 6, , % 8.3% % Gera 7, , % 12.4% % Continue to increase occupancy through targeted investments, Vacancy in October 2014 at 11.6% Hamburg 6, , % 7.5% % Leipzig 7, , % 7.1% % Rhine-Ruhr 3, , % 2.6% % Rostock 4, , % 7.8% % Salzgitter 9, , % 16.6% % Without VW effect (otherwise L-f-l- rental growth of -3.7%); Vacancy in October 2014 at 16.2% Total residential units 68,122 3,191, % 8.6% % Without VW effect (otherwise L-f-l- rental growth of 1.0%); Vacancy in October 2014 at 8.3% Acquisitions 4, , % 11.8% Continue to increase occupancy through targeted investments Commercial units (within residential portfolio) Total residential portfolio 1, % ,831 3,359, % 9.1% % Other , % 18.6% Commercial properties and serviced apartments Grand total 74,318 3,530, % 9.3% %
14 PORTFOLIO VALUATION TAG Annual portfolio valuation by CBRE 14 Region (in EUR millions) 2014 Fair Value (IFRS) 2014 Fair Value / sqm 2014 Implied multiple Revaluation gain / loss Capex Net acquisitions and other movements 2013 Fair Value (IFRS) 2013 Fair Value / sqm 2013 Implied multiple Berlin , , Dresden , Erfurt , Gera , Hamburg , Leipzig , Rhine-Ruhr , Rostock , Salzgitter , Acquisitions , Total residential portfolio 3, , , Other* , , Grand total** 3, , * Includes six commercial properties and three serviced apartments ** Includes reclassifications (IAS 40/IAS 2 properties)
15 in EUR in EUR PROPERTY PLATFORM TAG Property Platform 15 TAG runs the most efficient Property and Asset Management platform Property and Asset Management FTE / 1000 units Up to 10 LIMs ( Leiter Immobilien-Management / Head of Real Estate Management) to oversee and manage TAG s regional sub-platforms De-centralized organization Many decisions can be taken at LIM level LIMs are responsible for maintenance budgets, rental activities, etc M 2014 Cost per unit (1) 4,140 Lean administrative structure 534 FTE manage a platform of 74,318 units 1, M 2014 Adjusted size of Management Board Efficient board size with three members and revised allocation of key responsibilities EBITDA margin (2) 43.2% 53.4% 60.5% 62.9% 62.9% M 2014 (1) - includes personnel expenses (EUR 24.5m for 9M 2014) and (EUR 15.7m for 9M 2014) other operating expenses (2) - includes impairment losses on rent receivables
16 16 Acquisitions and Disposals TAG Immobilien AG H1 figures 2014
17 ACQUISITIONS TAG Acquisitions Erfurt Leipzig Dresden Units 3, ,503 Floor area in sqm 236,000 17,703 85,452 Net rental EUR/sqm/month Vacancy 10.7% 0.4% 12,9% Purchase price EURm Net actual rent p.a. EURm Location Hermsdorf, Jena, Weimar, Erfurt, Chemnitz, etc. Dessau Freiberg, Chemnitz Closing Aug Sept Oct Comments Signing: Feb Multiple: 9.6x Refurbished in 2000 Signing: Aug Multiple: 10.7x Refurbished in 2001 Signing: Sept Multiple: 10.1x Year of construction: 1970s/1980s Erfurt Dessau Freiberg
18 DISPOSALS TAG Disposals Berlin (Marzahn) Commercial portfolio Units 2, Floor area in sqm 162, ,000 Net rental EUR/sqm/month Vacancy 1.2% 10% Commercial, Planckstraße, Hamburg Book profit (IFRS) EURm approx Selling price / net cash proceeds EURm / approx. 72 approx. 300 / 70.3 Net actual rent p.a. EURm Location Berlin (Marzahn) Cologne, Munich, Berlin, Hamburg Closing Dec May 2014 Comments Signing: Nov Asset deal FFO reduction approx. EUR 4.7m p.a. Signing: March 2014 Share deal Deconsolidation of around EUR167m of loans TAG keeps 20% stake FFO reduction approx. EUR 8m p.a. Residential, Berlin (Marzahn) Commercial, Siemensdamm, Berlin
19 19 TAG share TAG Immobilien AG H1 figures 2014
20 SHARE REPURCHASE PROGRAMME TAG Share repurchase 20 Rationale Details Successful disposals with high cash inflows Excess cash on balance sheet given currently limited opportunities for accretive property investments Proof of TAG s capital discipline and total return per share strategy Tender period between 15-Sep-2014 and 14-Oct at a range of EUR 8.35 to EUR 9.35 per share 18,608,551 shares were tendered 13,127,178 shares repurchased at EUR 9.30 per share Outlook on further steps EGM on 28-Nov-2014 to authorize new share repurchase scheme Share repurchase already shown in balance sheet as of 30-Sep-2014 (equity reduction and shortterm liability of EUR 122.1m) Currently no intention by management to launch an additional share buy back program, but new authorization shall ensure maximum strategic flexibility going forward
21 CAPITAL MARKETS HEADS-UP TAG Capital markets heads-up 21 Broker recommendations update High/Low (Jan/Oct 2014) EUR 8.52/EUR 9.65 Number of shares (issued) 131.3m Number of shares (outstanding) 118.2m Institution Broker Recommendation Target price Date Lampe Georg Kanders Buy Nov-14 HSBC Thomas Martin Neutral Nov-14 Morgan Stanley Bianca Riemer Underweight Oct-14 Market capitalisation as of 31-Oct-2014 EUR 1,225m Stock indices MDAX/EPRA Free Float * 90% * Deutsche Börse definition including institutional investors, repurchased TAG own shares not included Share price development Berenberg Kai Klose Buy Oct-14 Baader Bank Andre Remke Buy Sep-14 M.M. Warburg Torsten Klingner Hold Sep-14 Close Brothers Manuel Martin Buy Sep-14 Commerzbank Thomas Rothaeusler Hold Sep-14 Median 10.0 Shareholder structure as of 31-Oct-2014
22 22 TAG Management Team TAG Immobilien AG H1 figures 2014
23 MANAGEMENT TEAM TAG Management Board 23 Claudia Hoyer Martin Thiel Dr. Harboe Vaagt COO CFO CLO Key responsibilities: Property and Asset Management, Acquisitions and Disposals, Shared Service Center Age 42 Joined TAG as a member of the management board in July 2012 Business degree, member of the board of DKB Immobilien AG from 2010 to 2012, 15 years of experience in residential real estate and property management Key responsibilities: Controlling, Accounting, Financing, Taxes, Corporate Finance and Investor Relations Age 42 Joined TAG as CFO in April 2014 Business degree, CPA, CVA, over 15 years of experience as Auditor and Tax consultant with real estate clients Key responsibilities: Legal, Human Resources and Transactions Age 58 With TAG for 15 years, has been a member of the management board since April 2011 Law degree, over 25 years of experience in real estate legal affairs
24 SUPERVISORY BOARD TAG Supervisory Board 24 Current composition of the TAG Supervisory Board Lothar Lanz (Chairman) - since 2013, prior CFO of Axel Springer AG from 2009 to 2014, member of various supervisory boards (e.g. Axel Springer AG, Zalando SE) Dr. Philipp Wagner - since 2013 Dr. Hans-Jürgen Ahlbrecht - since 2014 Dr. Ingo-Hans Holz - since 2014 (to resign in November 2014) Andrea Mäckler - since 2010, employees representative Wencke Röckendorf - since 2010, employees representative Appointment process of Rolf Elgeti to the Supervisory Board Dr. Ingo-Hans Holz to resign from the Supervisory Board Rolf Elgeti has been nominated for election to the Supervisory Board by the EGM Given his function as previous CEO of TAG, a formal quorum of 25% of the voting rights is required to resolve the two year grace period in accordance with the German Stock Corporation Act A sufficient formal quorum suggests the nomination, supported by more than 25% of the TAG shareholders The Supervisory Board, in its current composition, is expecting to elect, in case of a positive vote by the EGM, Rolf Elgeti as Chairman and Lothar Lanz as Deputy Chairman and Chairman of the audit committee
25 25 Outlook / Guidance TAG Immobilien AG H1 figures 2014
26 GUIDANCE TAG Guidance 26 (in EUR) 2014E 2015E FFO per share (re-defined) FFO per share (as previously reported) Dividend per share Dividend per share (EUR) FFO I per share (EUR, re-defined) A 2014E 2015E 2013A 2014E 2015E
27 27 Strategy Update TAG Immobilien AG H1 figures 2014
28 STRATEGY UPDATE TAG Strategy update 28 The three pillar TAG investment case and strategy framework High Yield investment profile Highest FFO and dividend yield profile amongst peer group Total return focus on distributions to shareholders rather than un-crystalized NAV growth Anti-cyclical investment strategy: buy early, de-risk timely o Clear distinction of investment strategy vis-a-vis peer group Capital discipline and efficiency Most efficient capital structure amongst peer group Disciplined allocation of capital including seamless acquisitions and disposals Current portfolio size provides for sufficient critical mass to retain cost leadership o Continuous optimization of use of capital across the balance sheet Segment leadership Leading market player with strong presence in defined regions TAG has been the first to implement the ABBA * approach in the listed German residential sector Permanent innovations in tenant offerings and services o Affordable housing with geographic focus in North and East Germany * ABBA : A locations in B cities, B locations in A cities
29 29 Appendix TAG Immobilien AG H1 figures 2014
30 APPENDIX TAG Capex and Maintenance in EUR millions Q1 Q2 Q3 Total Q1 Q2 Q3 Q4 Total Maintenance Residential Commercial Capex Residential Commercial
31 APPENDIX TAG P&L positions (residential/commercial) 31 Residential 9M 2014 Commercial properties and serviced apartments 9M 2014 Continuing operations 9M 2014 Discontinued operation (sold commercial portfolio) 9M 2014 Total 9M 2014 Residential Q Commercial properties and serviced apartments Q Continuing operations Q Discontinue d operation (sold commercial portfolio) Q Total Q (in EUR millions) Rental income Expenses from property management Net rental income Net revenue from sales Net fair value gains and losses Net financial result
32 APPENDIX TAG Annual Valuation by CBRE Details on asset vs. share deals For valuation purposes TAG divides its regions in two markets: assets deal markets and share deal markets, determined on public available information (e.g. data bases from valuation experts) Classification irrespective of TAG s intentions but based on objective market data So defined share deal markets: Lower Saxony and Eastern Germany (except Berlin) Based on this classification, transaction costs are deducted as follows: Assets deal markets: 7-8% ( standardized ) Assumptions / drivers Cap rate (%) Discount rate (%) Administrative costs (EUR/unit) Current maintenance (EUR/sqm) Reletting costs (EUR/sqm) Structural vacancy (%) Share deal markets: 0.2% (TAG s historical transaction costs)
33 APPENDIX TAG Convertible Bonds 33 All Convertibles trade in the money The first has been converted in July 2012 ahead of maturity Partly buy back in 2013 to reduce dilution effect on NAV Convertibles have enabled TAG to grow in a capital efficient and NAV accretive manner
34 APPENDIX TAG Notes 34
35 APPENDIX TAG Notes 35
36 TAG Contacts 36 Martin Thiel CFO Fon: Dominique Mann Head of Investor & Public Relations Fon: Fax: TAG Immobilien AG Steckelhörn Hamburg Fon: Fax: TAG Immobilien AG H1 figures 2014
Company presentation Q1 2015 Figures
Company presentation Q1 2015 Figures CONTENT Content 2 I. TAG highlights Q1 2015 3 II. TAG financials Q1 2015 5 III. TAG portfolio and platform 11 IV. TAG acquisitions and disposals 16 V. TAG strategyMore information
Company presentation Q2 2015 Figures
Company presentation Q2 2015 Figures CONTENT Content 2 I. TAG highlights Q2 2015 3 II. TAG financials Q2 2015 5 III. TAG portfolio and platform 11 IV. TAG acquisitions and disposals 14 V. TAG outlook 18More information
Growing Assets H1-2014 Figures
2014 Growing Assets H1-2014 Figures CONTENT Content 2 I. TAG Highlights FY 2013 / H1 2014 3 II. TAG Strategy/ Efficiency: Growth and Margins 4 III. TAG Achievements: Vacancy reduction / rent increasesMore information
Growing Assets Full Year Figures 2013
Growing Assets Full Year Figures 2013 CONTENT Content 22 I. TAG Highlights FY 2013 3 II. TAG FFO 2012-2014 4 III. TAG Strategy: Growth and Margins 6 IV. TAG Portfolio: Regions / Achievements / Capex -More information
February 2010/Q1-Q3 2009
TAG Immobilien AG February 2010/Q1-Q3 2009 TAG I 1 Content I. Group overview Investment case/ Structure Highlights Q3 page 3-6 II. Portfolio page 7-12 Residential Commercial Vacancy rates Q4/2009 III.More information
TLG IMMOBILIEN AG H1 2015 Results August 2015
TLG IMMOBILIEN AG H1 2015 Results August 2015 Disclaimer This presentation includes statements, estimates, opinions and projections with respect to anticipated future performance of TLG IMMOBILIEN ("Forward-LookingMore information
Interim Report on the 2nd quarter
Interim Report on the 2nd quarter 2 Group financials Foreword GROUP FINANCIALS IFRS in TEUR 01 / 01 06 / 30 / 2015 01 / 01 06 / 30 / 2014 A. Income statement key figures Rental income in total 128,918More information
Interim Report on the 1st quarter 2016 GROWING CASHFLOWS
Interim Report on the 1st quarter 2016 GROWING CASHFLOWS 2 Group financials Foreword GROUP FINANCIALS in TEUR 01 / 01 03 / 31 / 2016 01 / 01 03 / 31 / 2015 A. Income statement key figures Rental revenuesMore information
Deutsche Wohnen AG.» Full year results 2014. Conference Call, 26 March 2015
Deutsche Wohnen AG» Full year results 2014 Conference Call, 26 March 2015 1 » Agenda 1 Highlights FY-2014 2 Portfolio 3 Financials 4 Conwert update 5 Guidance & Outlook 6 Q & A 7 Appendix 2 » HighlightsMore information
TLG IMMOBILIEN AG 2014 Preliminary Results
TLG IMMOBILIEN AG 2014 Preliminary Results 2 March 2015 Disclaimer Weadvise you that all financial information for the fiscal year 2014 presented herein is preliminary and unaudited. This presentationMore information
Deutsche Wohnen AG.» Full Year Results 2009. Conference Call, 26 March 2010
Deutsche Wohnen AG» Full Year Results 2009 Conference Call, 26 March 2010 1 » Agenda 1. Results of the financial year 2009 2. Financial highlights 2009 3. Strategic objectives 4. Forecast 2 » 1 ResultsMore information
Deutsche Wohnen AG.» German Jour Fixe 1-1 Conference Merrill Lynch. London, 27 April 2010
Deutsche Wohnen AG» German Jour Fixe 1-1 Conference Merrill Lynch London, 27 April 2010 1 » Agenda 1. Deutsche Wohnen at a glance 2. Results of the financial year 2009 3. Financial highlights 2009 4. StrategicMore information
TLG Immobilien AG Q Results Update. 28 November 2014
TLG Immobilien AG Q3-2014 Results Update 28 November 2014 Disclaimer This presentation includes statements, estimates, opinions and projections with respect to anticipated future performance of TLG ("Forward-More information
Deutsche Wohnen AG.» 9M 2015 results. Conference Call, 10 November 2015
Deutsche Wohnen AG» 9M 2015 results Conference Call, 10 November 2015 1 » Agenda 1 Highlights 9M 2015 2 Strategic Outlook 3 Efficiency of Deutsche Wohnen Platform 4 Additional Perspectives on Vonovia OfferMore information
conwert Immobilien Buy (unchanged) Target: Euro 14.00 (unchanged)
conwert Immobilien Buy (unchanged) Target: Euro 14.00 (unchanged) 26 Aug 15 Price (Euro) 11.31 52 weeks range 12.45 / 8.54 Key Data ISIN AT0000697750 Reuters CONW.VI Bloomberg CWI AV Reporting standardMore information
Press Release Corporate News Vienna, 18 March 2015
Press Release Corporate News Vienna, 18 March 2015 IMMOFINANZ with stable operating performance in the first three quarters, Net profit reduced New share buyback program resolved KEY FIGURES (in MEUR)More information
Deutsche Wohnen AG. Investor Presentation. December 2011
Deutsche Wohnen AG Investor Presentation December 2011 1 » Summary of investment highlights German residential: a resilient investment class Quality portfolio focused on attractive German MetropolitanMore information
Results 2007. Analyst & Investor Conference / Conference call March 27, 2008
Results 2007 Analyst & Investor Conference / Conference call March 27, 2008 Agenda Highlights 2007 Results 2007 Outlook and guidance 2008 Shareholder structure / Share price 2 2007 a challenging Year PeakMore information
CONFERENCE CALL. FY2013 Preliminary Results 21.03.2014
CONFERENCE CALL FY2013 Preliminary Results 21.03.2014 FY 2013 COMPANY Highlights 2013 May Increase of the shareholdings to 100% in Altmarkt-Galerie Dresden as of 1 May 2013 67% were already owned by DESMore information
Deutsche Wohnen AG.» Considerations on Vonovia's offer. 22 October 2015
Deutsche Wohnen AG» Considerations on Vonovia's offer 22 October 2015 1 » Vonovia offer totally inadequate on multiple dimensions 1 Offer represents significant discount to stand-alone intrinsic valueMore information
Company Roadshow Presentation HAMBORNER REIT AG. Preliminary figures 2012 February 2013
Company Roadshow Presentation HAMBORNER REIT AG Preliminary figures 2012 February 2013 HAMBORNER REIT AG key investment highlights Creating sustainable shareholder value Strong asset and portfolio managementMore information
Excellence in Real Estate Investment and Asset Management
Next Generation Real Estate Excellence in Real Estate Investment and Asset Management Initiative Immobilien Aktie 2007 - Frankfurt am Main 25./ 26.10.2007 Focused and Integrated Business Model Sales HYMore information
UniCredit German Investment Conference. September 23 rd, 2008
UniCredit German Investment Conference September 23 rd, 2008 1 » Agenda Deutsche Wohnen at a glance Operational Update Financial Highlights Targets and Outlook 2 » Who we are Deutsche Wohnen AG is an activeMore information
Interim report on the 3rd quarter of 2010
Interim report on the 3rd quarter of 2010 1 Group Financials Group Financials (IFRS) in TEUR 01/01-09/30/2010 (adjusted) 01/01-09/30/2009 A. Income statement key figures Revenues 64,076 101,443 a) SalesMore information
Deutsche Wohnen AG.» Roadshow Presentation. January 2016
Deutsche Wohnen AG» Roadshow Presentation January 2016 EUR/share EUR/share» Compelling growth of FFO, dividend and NAV FFO I a) & Dividend per share FFO I per share expected to rise by ~14% in 2016 (~24%More information
Con sis ten cy. Positioned perfectly.
Con sis ten cy Positioned perfectly. 1 Deutsche Wohnen AG group KEY FIGURES 2 Consolidated INTERIM MANAGEMENT REPORT 3 Consolidated INTERIM FINANCIAL STATEMENTS 19 Responsibility statement 32 FINANCIALMore information
Interim report on the 2nd quarter of 2010
Interim report on the 2nd quarter of 2010 1 Group Financials Group Financials (IFRS) in TEUR 01/01-06/30/2010 (adjusted) 01/01-06/30/2009 A. Income statement key figures Revenues 39,827 73,306 a) PropertyMore information
CPI PROPERTY GROUP continues in successful business operations, expansion plans and refinancing of existing projects
CPI PROPERTY GROUP continues in successful business operations, expansion plans and refinancing of existing projects Corporate highlights Annual General Meeting of 28 May 2015 The Annual General MeetingMore information
Deutsche Wohnen AG.» Investor Presentation. September 2010
Deutsche Wohnen AG» Investor Presentation September 21 1 » Agenda 1 2 3 4 Introduction to Deutsche Wohnen Portfolio Overview and Operations Financial Highlights Guidance and Strategic Objectives 2 » 1More information
CONSOLIDATED INTERIM FINANCIAL STATEMENTS AND GROUP INTERIM MANAGEMENT REPORT SECOND QUARTER OF 2008 JUNE 30, 2008 FRANCONOFURT AG FRANKFURT AM MAIN FRANCONOFURT AG, FRANKFURT AM MAIN CONSOLIDATED INTERIMMore information
3 rd HSBC (T)rinkaus (R)eal (E)state (C)onference. February 27, 2008
3 rd HSBC (T)rinkaus (R)eal (E)state (C)onference February 27, 2008 Deutsche Wohnen: Highly focussed and with > 50,000 residential units clear no. 2 listed residential player in Germany The portfolio ofMore information
Annual Report 2015 GROWING CASHFLOWS
Annual Report GROWING CASHFLOWS 2 3 Group financials Highlights Forword Portfolio Opportunities and challenges HR report (employees) TAG share and capital market EPRA reporting Corporate Governance withMore information
EUROCASTLE INVESTMENT LIMITED. 2011 Investor Presentation
EUROCASTLE INVESTMENT LIMITED 2011 Investor Presentation Forward Looking Statements This release contains statements that constitute forward-looking statements. Such forward-looking statements may relateMore information
XING #1 Professional Social Network In German Speaking Europe
XING #1 Professional Social Network In German Speaking Europe Q1 results May 6, 2014 Dr. Thomas Vollmoeller (CEO ) & Ingo Chu (CFO) Executive Summary Accelerating organic top-line growth of 16% StrongestMore information
gsw immobilien ag interim REPORt H1-2012
gsw immobilien ag interim REPORt H1-2012 MY BERliN. MY HOME. Highlights Operational Highlights 30.06.2012 30.06.2011 Vacancy rate (residential) 3.2 % 3.8 % In-place rent (residential) 5.14 EUR / sqm 4.94More information
Financial Results. siemens.com
s Financial Results Fourth Quarter and Fiscal 2015 siemens.com Key figures (in millions of, except where otherwise stated) Volume Q4 % Change Fiscal Year % Change FY 2015 FY 2014 Actual Comp. 1 2015 2014More information
Deutsche Annington Immobilien SE 9M 2014 Results
Deutsche Annington Immobilien SE 9M 2014 Results Conference Call, Dusseldorf, 30 th October 2014 Rolf Buch, CEO Dr. A. Stefan Kirsten, CFO Deutsche Annington Immobilien SE 30th October 2014 9M 2014 ResultsMore information
Q1 2016 Results Conference Call
Q1 2016 Results Conference Call Karim Bohn, CFO 10 May 2016 PATRIZIA Immobilien AG PATRIZIA Bürohaus Fuggerstrasse 26 86150 Augsburg T +49 821 50910-000 F +49 821 50910-999 firstname.lastname@example.com www.patrizia.agMore information
CPI PROPERTY GROUP holds its course set steady growth, successful acquisitions and decreasing cost of capital
CPI PROPERTY GROUP holds its course set steady growth, successful acquisitions and decreasing cost of capital Corporate news Acquisition of 16.7% of own shares On 25 September 2015 the CPI PROPERTY GROUPMore information
AS OF 31 JULY 2014. - Monthly in-place rent: EUR 4.69 per sqm - Recurring FFO: EUR 21.9 million - Fair value: EUR 3.5 billion
REPORT ON THE 1 st QUARTER 2014/15 AS OF 31 JULY 2014 Successful business development - Monthly in-place rent: EUR 4.69 per sqm - Recurring FFO: EUR 21.9 million - Fair value: EUR 3.5 billion ExpansionMore information
XING Q2 2012 results presentation. August 14, 2012
XING Q2 2012 results presentation August 14, 2012 Disclaimer This presentation was produced in August 2012 by XING AG (the "Company") solely for use as an information source for potential business partnersMore information
Software AG Results 1 st Quarter 2015 (IFRS, unaudited)
Software AG Results 1 st Quarter (IFRS, unaudited) April 29, 1 Safe Harbor This presentation includes forward-looking statements based on the beliefs of Software AG management. Such statements reflectMore information
CONFERENCE CALL Q1-Q3 2010. 10 November 2010
CONFERENCE CALL Q1-Q3 2010 10 November 2010 Agenda Overview Q1-Q3 Q3 2010 Dr Helmut Leube, Chairman of the Management Board Key financials i Q1-Q3 Q3 2010 Dr Margarete Haase, CFO Outlook Dr Helmut Leube,More information
Deutsche Wohnen AG.» Where we stand, where we go. October 2011
Deutsche Wohnen AG» Where we stand, where we go October 2011 1 » Management team We are committed to combine value and sustainable growth while moving forward Deutsche Wohnen as the leading residentialMore information
CONFERENCE CALL. Q1 2012 Results 15.05.2012
CONFERENCE CALL Q1 2012 Results 15.05.2012 Q1 2012 COMPANY Highlights Q1 2012 Increase of the shareholdings in Rhein-Neckar-Zentrum, Allee-Center Hamm and Rathaus-Center Dessau to 100% Rhein-Neckar-ZentrumMore information
A strong third quarter
A strong third quarter Interim presentation for the third quarter 2015 Stockholm, 5 November 2015 Anders Nissen, CEO Liia Nõu, CFO Today s agenda Introduction Financial review Business model and valueMore information
Full Year Results 2014
Full Year Results 2014 18 March 2015 Conference call on FY Results 2014 Corporate Finance & Investor Relations AGENDA FY 2014 results presentation Highlights 2014 Financials 2014 Outlook 2015 AppendixMore information
XING #1 Professional Social Network In German Speaking Europe. Q1 Results Presentation, May 6, 2013
XING #1 Professional Social Network In German Speaking Europe Q1 Results Presentation, May 6, 2013 Executive Summary Continuing growth in members and activity in D-A-CH Solid top and bottom line growthMore information
XING Q1 2012 results presentation. May 14, 2012
XING Q1 2012 results presentation May 14, 2012 Disclaimer This presentation was produced in April 2012 by XING AG (the "Company") solely for use as an information source for potential business partnersMore information
Deutsche Annington Immobilien SE
Deutsche Annington Immobilien SE Roadshow London June 1-2, 2015 Rolf Buch, CEO Thomas Zinnöcker, Deputy CEO Dr. A. Stefan Kirsten, CFO Highlights Strong start into the year FFO 1 per share +27% ( 0.33)More information
Earnings Release Q2 FY 2015 January 1 to March 31, 2015
Munich, Germany, May 7, 2015 Earnings Release FY 2015 January 1 to March 31, 2015 Portfolio gains drive income»for business volume, we performed well in our markets. The profitability of our IndustrialMore information
Deutsche Annington Immobilien SE
Deutsche Annington Immobilien SE FY 2014 Results March 5 th, 2015 Rolf Buch, CEO Dr. A. Stefan Kirsten, CFO Deutsche Annington Immobilien SE Promised and delivered the 2014 Highlights 2014: Another strongMore information
Consolidated Statement of Profit or Loss (in million Euro)
Consolidated Statement of Profit or Loss (in million Euro) FY 2014 FY 2015 % change Q4 2014 Q4 2015 % change un Revenue 2,620 2,646 1.0% 711 672-5.5% Cost of sales (1,813) (1,804) -0.5% (489) (464) -5.1%More information
Investment AB Kinnevik
Investment AB Kinnevik Skeppsbron 18 P.O. Box 2094 SE-103 13 Stockholm Sweden www.kinnevik.se (Publ) Reg no 556047-9742 Phone +46 8 562 000 00 Fax +46 8 20 37 74 INTERIM REPORT 1 JANUARY-31 MARCH HighlightsMore information
XING #1 Professional Social Network In German Speaking Europe
XING #1 Professional Social Network In German Speaking Europe Preliminary FY Results 2011 Presentation March 1, 2012 ADVERTISING EVENTS E-RECRUITING... Successful execution of 2011 strategy PAID MEMBERSHIPMore information
Q2 2011 Results Presentation XING AG
Q2 2011 Results Presentation XING AG Dr. Stefan Gross-Selbeck (CEO) & Ingo Chu (CFO) Hamburg, August 10, 2011 01 Q2 highlights Ongoing strong financial performance Re-acceleration of D-A-CH 1 member growthMore information
Q1 2011 Results Presentation. Hamburg Stefan Gross-Selbeck (CEO) & Ingo Chu (CFO) May 10, 2011
Q1 2011 Results Presentation Hamburg Stefan Gross-Selbeck (CEO) & Ingo Chu (CFO) May 10, 2011 01 Q1 Highlights Strong financial performance Continuing good momentum in D-A-CH 1 member growth VerticalsMore information
ANNUAL EARNINGS CONFERENCE FY 2011 Preliminary Results 09.03.2012 FY 2011 COMPANY Highlights 2011 January Increase of the shareholding in Stadt-Galerie Hameln to 100% March Hameln Opening of the extensionMore information
QUARTERLY STATEMENT AS OF MARCH 31, 2015 TO OUR SHAREHOLDERS Patrik Heider, Spokesman of the Executive Board and CFOO The Nemetschek Group has made a dynamic start in the 2015 financial year and continuesMore information
REPORT ON THE. - 52,467 standing investment units distributed almost equally between Austria and Germany, total floor area of 3.
REPORT ON THE 1 st Half-Year 2014/15 1 May to 31 October 2014 Successful business development - Monthly in-place rent: EUR 4.74 per sqm - Net profit: EUR 20.6 million - Recurring FFO: EUR 41.3 millionMore information
Group 9-month report Bastei Lübbe AG 1 Apr - 31 Dec 2015
Group 9-month report Bastei Lübbe AG 1 Apr - 31 Dec 2015 At a Glance Key figures (IFRS) 01/04/2015-2015 01/04/- Change in % Business development in million Group turnover 79.4 86.8-8.5 % EBITDA 14.0 11.5More information
2013 results in line with objectives
2013 results in line with objectives 53.2 million in operating profit; 6.1% operating margin 27.1 million in attributable net profit, Group share 22.3 million in free cash flow (Paris 12 March 2014 5:35More information
XING #1 Professional Social Network In German Speaking Europe. Q3 results November 6, 2013
XING #1 Professional Social Network In German Speaking Europe Q3 results November 6, 2013 Executive Summary Strongest member growth in the last 18 months Continuing accelerating of top-line growth 2 majorMore information
INVESTORS AND ANALYSTS CONFERENCE CALL - FY13 RESULTS - 13 March 2014
INVESTORS AND ANALYSTS CONFERENCE CALL - FY13 RESULTS - 13 March 2014 HIGHLIGHTS OPERATIONAL Improved performance and increased profitability in Rest of the World operations On a comparable basis*, averageMore information
Deutsche Wohnen AG.» Public share exchange offer for GSW Immobilien AG. Presentation August 2013
Deutsche Wohnen AG» Public share exchange offer for GSW Immobilien AG Presentation August 2013 1 » Compelling transaction rationale Strategically and financially attractive transaction with conservativeMore information
XING #1 Professional Social Network In German Speaking Europe. Q2 results August 6, 2013
XING #1 Professional Social Network In German Speaking Europe Q2 results August 6, 2013 Executive Summary Strongest member growth in the last 12 months Accelerating top-line growth in Q2/13 Numerous importantMore information
JANUARY 1 TO JUNE 30, 2003 INTERIM REPORT www.deutsche-wohnen.de EUR 159.00 High: EUR 159.00 (June 26, 2003) 158.00 157.00 156.00 155.00 154.00 153.00 152.00 151.00 150.00 149.00 148.00 147.00 146.00 145.00More information
Annual results 2014. Net valuation gain on the investment portfolio reaches 53.9 million (against 27.9 million at the end of 2013)
Press Release Regulated Information 2 March 2015 Annual results 2014 Profit for the year of 49.4 million (+ 25.1 million against 2013) 117.4% increase of committed annualised rent income to 22.6 millionMore information
Franconia Portfolio. Acquisition of 5,042 residential and 209 commercial units with a focus on Berlin. September 2, 2014
Franconia Portfolio Acquisition of 5,042 residential and 209 commercial units with a focus on Berlin September 2, 2014 Innovative Traditional Acquisition Strategy Reputation & customer satisfaction 1 2More information
Half Year Report For the six months ended 30 September 2011. Dorchester
Half Year Report For the six months 30 September 2011 Dorchester CONTENTS 01 01 02 03 04 05 06 08 17 17 Summary of activity Financial summary Executive summary - chairman and executive director s reportMore information
CA Immo Buy (unchanged) Target: Euro 13.00 (old: Euro 12.50)
CA Immo Buy (unchanged) Target: Euro 13.00 (old: Euro 12.50) 19 March 12 Price (Euro) 8.45 52 weeks range 13.45 / 7.02 Key Data ISIN AT0000641352 Reuters CAIV.VI Bloomberg CAI AV Reporting standard IFRSMore information
EUROPE S LEADING ONLINE FASHION DESTINATION Q3 2015 Earnings Call 12 November 2015
EUROPE S LEADING ONLINE FASHION DESTINATION Q3 2015 Earnings Call 12 November 2015 Results highlights and business update 1 ACCELERATING GROWTH THROUGH TARGETED INVESTMENTS Strong Growth revenue acceleratesMore information
Authors Companies covered in this stud y include: Patrick Weber Dwight Bolden
Sector Special The German Real Estate Industry Berenberg Fixed Income Research 27 th November 2014 Authors Patrick Weber Analyst +49 69 9130 594 firstname.lastname@example.com Dwight Bolden Research supportMore information
Prologis Announces Fourth Quarter and Full Year 2013 Earnings Results
January 30, 2014 Prologis Announces Fourth Quarter and Full Year 2013 Earnings Results - Leased record 43.7 million square feet in Q4 and 152 million square feet in 2013 - - Occupancy increased to 95.1More information
Overview of the key figures for the first half of the year
Half-Year Report 2015 Q2 Revenues increase in the first half of the year by 23% EBIT increased by 1.5 million euros compared to the previous year Order book is growing Overall annual forecast remains unchangedMore information
Deutsche Wohnen AG.» Building the German best-in-class residential play. Presentation 21 September 2015
Deutsche Wohnen AG» Building the German best-in-class residential play Presentation 21 September 2015 1 » Agenda 1 Key terms and process 2 Strategic rationale 3 Appendix 2 » 1. Key terms and process 3More information
INTERIM REPORT First Nine Months 2009/10
INTERIM REPORT First Nine Months 2009/10 1 July 2009 31 March 2010 OVERVIEW KEY FINANCIAL DATA ESTAVIS AG 3rd quarter 09/10 1 Jan. 2010 31 March 2010 3rd quarter 08/09 1 Jan. 2009 31 March 2009 9 monthsMore information
Full Year Results 2012. Conference Call Presentation, 21 st March 2013
Full Year Results 2012 Conference Call Presentation, 21 st March 2013 0 Disclaimer This presentation may contain forward-looking statements based on current assumptionsandforecastsmadebybrenntag AG andMore information
Earnings Release Q3 FY 2015 April 1 to June 30, 2015
Munich, Germany, July 30, 2015 Earnings Release FY 2015 April 1 to June 30, 2015 Solid performance, softening market environment»overall our businesses delivered solid underlying profitability despiteMore information
Consolidated Statement of Profit or Loss (in million Euro)
Consolidated Statement of Profit or Loss (in million Euro) FY 2013 FY 2014 % change Q4 2013 Q4 2014 % change un Revenue 2,865 2,620-8.6% 739 711-3.8% Cost of sales (2,031) (1,813) -10.7% (511) (489) -4.3%More information
Property Tour Salzgitter 2011. TAG Immobilien AG TAG I
TAG Immobilien AG 1 TAG I Contents page 1. Colonia - Integration in General 3 2. Portfolio Combined TAG&Colonia 4 3. Portfolio Vacancy TAG Track Record 5 4. Portfolio Salzgitter in General 6 5. Macro LocationMore information
Full Year 2015 Results
Full Year 2015 Results 16 March 2016 Conference call on FY 2015 results Corporate Finance & Investor Relations AGENDA FY 2015 results presentation Highlights 2015 Financials 2015 Outlook 2016 AppendixMore information
Financial Data Supplement 4Q2011
Deutsche Bank Financial Data Supplement 4Q2011 20 March 2012 4Q2011 Financial Data Supplement Deutsche Bank consolidated Financial summary 2 Consolidated Statement of Income 3 Net revenues 4 Net interestMore information
Third quarter results as of December 31, 2014. Investor presentation
Third quarter results as of December 31, 2014 Investor presentation February, 26 th 2015 Disclaimer Certain statements included or incorporated by reference within this presentation may constitute forwardlookingMore information
Unaudited Financial Report
RECRUITING SERVICES Amadeus FiRe AG Unaudited Financial Report Quarter I - 2015 Temporary Staffing. Permanent Placement Interim Management. Training www.amadeus-fire.de Unaudited Amadeus FiRe Group FinancialMore information
Deutsche Wohnen AG.» 1st Quarter 2010. Conference Call, 31 May 2010
Deutsche Wohnen AG» 1st Quarter 2010 Conference Call, 31 May 2010 1 » Agenda 1. Highlights 2. Operative development 3. Financials 2 » 1 Highlights 3 » Capitalizing on the completed restructuring > AdjustedMore information
Interim report as at 30 September 2014
Interim report as at 30 September 2014 Fielmann increases unit sales, revenue and profit Result registers significant growth in the 3 rd quarter of 2014 Fielmann trains more than 2,900 opticians FielmannMore information
CA IMMO H1 2011 RESULTS Dial In Details Thursday, August 25, 2011, 2 p.m. (CET) Dial In Numbers UK 00442030032666 USA 18669665335 Canada 18006080547 Austria 004326822056552 Switzerland 0041225927103 GermanyMore information
Gazit-Globe Reports Year-End and Fourth Quarter 2015 Financial Results
Gazit-Globe Ltd. For additional information: 1 HaShalom Rd. Adi Jemini Tel Aviv, Israel 67892 CFO, Gazit-Globe +972 3 694 8000 FOR IMMEDIATE RELEASE: Gazit-Globe Reports Year-End and Fourth Quarter 2015More information
Q2 / H1 2015 results. Investor Presentation 30 July 2015
Q2 / H1 2015 results Investor Presentation 30 July 2015 Information Full year consolidated financial statements at 31 December are audited Half year financial statements are subject to limited review byMore information
Company Presentation. Dr. Rüdiger Mrotzek Hans Richard Schmitz. March 2015
Company Presentation Dr. Rüdiger Mrotzek Hans Richard Schmitz March 2015 Agenda 1 History / Capital markets track record 2 Portfolio / Investments 3 Asset Management 4 Financial Figures / Financial PositionMore information
Earnings Release Q1 FY 2016 October 1 to December 31, 2015
Munich, Germany, January 25, 2016 Earnings Release FY 2016 October 1 to December 31, 2015 Strong start into the fiscal year earnings outlook raised»we delivered a strong quarter and are well underway inMore information
2014 H1 CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS. June 30, 2014
2014 H1 CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS June 30, 2014 BOARD OF DIRECTORS REPORT OF COMPREHENSIVE INCOME OF FINANCIAL POSITION CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS JuneMore information
Boost in Group Portfolio, Equity Reinforcement and Finance Optimisation
Press Release Luxembourg, 31 August 2016 Boost in Group Portfolio, Equity Reinforcement and Finance Optimisation Corporate news Increase of share capital in amount of EUR 370.3 million In H1 2016 the CPIMore information
Equity per share (NOK) 147 123 131 Equity ratio 39 % 38 % 36 % Non-current net asset value per share (NOK) (EPRA NNNAV) 2) 184 152 165
REPORT FOR Q2 AND THE FIRST 6 MONTHS OF 2015 KEY FIGURES Amounts in NOK million Q2 2015 Q2 2014 30.06.15 30.06.14 2014 Net rental income 501 450 1 005 904 1 883 Fair value adjustments in investment propertiesMore information
HALF YEAR REPORT AS OF JUNE 30, 2015 TO OUR SHAREHOLDERS Patrik Heider, Spokesman of the Executive Board and CFOO The Nemetschek Group maintained its dynamic development from the first quarter of 2015More information
Half-year financial report. as at 30 JuNe 2015
Half-year financial report as at 30 JuNe 2015 key figures key Group figures according to ifrs Unit 01/01/2015 30/06/2015 01/01/2014 30/06/2014 Change in % Result of operations Rental income in EUR k 61,060More information
Drillisch AG Company Presentation. August 2014
Drillisch AG Company Presentation August 2014 Part 1: A Successful H1-2014 Part 2: Drillisch MBA MVNO Agreement Part 3: Guidance and Outlook Page 2 Agenda Highlights H1-2014 Trends in the Mobile CommunicationsMore information
telegate Group Financial Results 9M 2014 Munich, November 6, 2014
telegate Group Financial Results 9M 2014 Munich, November 6, 2014 Digital business trends Financials 9M 2014 Outlook 2 Digital business improvements in the first 9M 2014 ARPA new customers Up by 7 % yoyMore information
CONSOLIDATED PROFIT AND LOSS ACCOUNT For the six months ended June 30, 2002
CONSOLIDATED PROFIT AND LOSS ACCOUNT For the six months ended June 30, 2002 Unaudited Unaudited Note Turnover 2 5,576 5,803 Other net losses (1) (39) 5,575 5,764 Direct costs and operating expenses (1,910)More information


text:
Let me introduce myself. My name is Mark Sisson. I'm 63 years young. I live and work in Malibu, California. In a past life I was a professional marathoner and triathlete. Now my life goal is to help 100 million people get healthy. I started this blog in 2006 to empower people to take full responsibility for their own health and enjoyment of life by investigating, discussing, and critically rethinking everything we've assumed to be true about health and wellness...Tell Me More
I'm pleased to have our friend David Maren of Tendergrass Farms pen today's guest post. He's written this great how-to for making your own delicious pastured turkey jerky.
Most folks who make turkey jerky just make beef jerky out of turkey. They tend to use lots of teriyaki sauce, sugar, and Worcestershire sauce to mask the turkey-ness of the turkey. To each his own, but in my opinion this is a real shame. After all, turkey is super scrumptious! Especially if you go to the trouble of getting some good quality pastured turkey, you'll want to preserve its essential turkey flavor as a special feature of your turkey jerky. We've discovered an extremely simple way to make delicious, high-protein, sugar-free, turkey jerky that will not only taste and look nothing like beef jerky, but will also magically transport you back to your childhood Thanksgiving dinner table. In fact, between you and me, I think it tastes a lot like buttery mashed potatoes and gravy. But no worries – it's about as primal as primal can be.
This recipe is the very pinnacle of culinary simplicity. You'll need:
It'll take about 10 minutes of prep time and then the jerky will need to be in the oven for 6 to 10 hours (depending on your oven and how thinly you cut the turkey strips).
You should really think about supporting a family farmer by purchasing some decent pastured turkey breast to make your jerky with. EatWild.com has a helpful directory of grass-based farmers across the USA, Canada, and beyond that would love your support. If you can't find any local pastured turkey sources our little cooperative online meats shop, Tendergrass Farms, offers pastured turkey breast that we can ship right to your doorstep.
Once you've procured some good turkey breast, the first step is to cut it into very thin slices. There's no danger of cutting them too thin, so just get a nice sharp knife and cut the pieces as thinly as you can. It's best to keep them as even in thickness as possible to help them dehydrate at the same rate.
The second step is to sprinkle the turkey strips with a little salt and pepper. Salt and pepper the turkey just a little more than you would any other food that you were about to eat. The purpose of the salt and pepper is simply to bring out the natural flavor of the turkey, not to mummify it!
The third and final step is to skewer the strips of seasoned turkey with your kabob skewers (or wooden chop sticks) and hang the skewers from the upper rack of your oven. Just make sure than the strips are spaced out well to allow the strips to evenly dehydrate. Turn your oven on to 200 ºF, but don't quite close your oven door. It works well to stick a nice big wooden spoon or other similar object in the door of the oven to allow just an inch or so opening for the humidity to escape from the oven as the turkey dehydrates.
Check on it periodically. At 200 ºF, with the oven slightly cracked open, it may take anywhere from 6 to 10 hours. This depends entirely on the thickness of your turkey strips and your particular oven, so it could be slightly shorter or longer depending on those factors. When the strips are completely hard to the touch with no hint of soft raw meat texture, your jerky's done! It's best to keep it in zip-top bags in the freezer, especially if you don't think you'll eat it all within a week or so.
David Maren is a husband, father, farmer, and co-founder of Tendergrass Farms. Tendergrass Farms is a cooperative online grass fed meats shop that exists as a bridge between the often geographically isolated family farmer and committed grass fed meats enthusiasts like yourself. The Tendergrass Farms vision is to sustain family farms through making it easy for you to purchase their meats by taking advantage of appropriate technology and ultra-efficient transportation models that enable their meats to be shipped to fans all around the USA.
If you're not already a huge fan of Tendergrass Farms, you're missing out: Go bookmark their site, like their Facebook page, and follow them on Twitter!
If you'd like to add an avatar to all of your comments click here!
87 Comments on "How to Make Turkey Jerky (That's Super Easy and Tastes Like Thanksgiving)"
This looks yummy! Fortunately, there is a pastured turkey farm just a few miles away. (I'm tempted to add some paprika or turmeric, but will try to resist.)
Great idea and step by step guide… and can I say, I LOVE the photography on it! Good job whoever that was!
Thanks – Patrice. That was just me. My general photography theory is if I need 6 pics then I take about 200 and just use the best 3%.
The power markets. I wonder if that statement is applicable to film camera era (i.e. the economics of film and dark room processing). Clearly the costs have been driven down by digital, no?
I love scotch!
which is your favorite?
scotchy scotch scotch.
To help with slicing, make sure your turkey is 32-35°F (0-2ºC), or even a little colder. Most refrigerators are probably in the range of 38-40°F (3-4ºC). Therefore, put the turkey in the freezer for 20-30 minutes before slicing. The firmer texture should allow a cleaner, more even cut.
I'm so jealous of that baby, wish my parents gave me food like that! Going to have to give this a try.
now you are going to be jealous of my babies because I am absolutely doing this as soon as I can thaw the turkey I've been saving.
Thanks for the instruction! This is a lot like the way my father-in-law makes his smoked salmon, just with a smoke fire and outdoor smokehouse instead of the oven.
We're off for a Spring Break road trip next week, gonna try to get a batch ready for that…
I wonder if you could make salmon jerky the same way? I plan on going dip netting this summer and will need some easy recipes to cook all my salmon! Nom nom.
Yum! Can't wait to try this!! Love the idea too.
This is going to be on my list this week. Yummy!
Does this work with chicken? Pork?? Or, perhaps it's easier to ask, is there anything this doesn't work with??? My mind is racing through the possibilities…!
Chicken is so similar to turkey that I'd have to assume that it would work just fine and evidently some folks make it from pork as well: http://en.wikipedia.org/wiki/Bakkwa
The main thing, from a food safety perspective, is making sure that the meat is extremely dried out before you try to taste it. Raw beef is one thing but raw turkey, chicken, and pork are a bit less appetizing to me.
There's a wild turkey breast in our freezer thanks to my husband the hunter that I will try this recipe on. Thanks for the recipe!
O thank you so much, this is a must-do!
Looks delicious and I'll have to try it. Thanks!
Would this method work for any lean meat and for salmon or would it create an unholy mess in the oven?
I have more questions!
I'm wondering about the diet differences between wild and grass fed turkeys. What do they eat in the wild and how do you ensure they're not snacking on the GMO grains in Farmer Frankenjoe's fields?
See my response to 'Scott UK' above. You're right that jerky is really only possible with lean meat. If you're concerned about a mess in the oven just put a bit of aluminum foil in the bottom of the oven before you put the meat in.
Thank you for the foil idea Dave. I'll use it for marinated meat.
Once I've perfected the turkey, I'm going to try beef and fish. I live in BC and have access to some amazing grass-fed beef, there are trout and char in my front 'yard' and salmon from a friend.
Too stoked!
Meh, I make jerky with fatty brisket all the time. The contrast of the dry meat and the juiceness of the fatty bits is great. Tastse like steak 🙂
I keep it the fridge in an airtight container, but it never lasts long enough to be of a concern really.
I have been in need of this post for AGES. Thank you so much!! I'm psyched.
These look awesome! I didn't know it was that simple! 🙂
I make mine with paprika and chili peppers. YUM.
I would like to make this in my dehydrator. What temperature is recommended? Still 200 deg F?
Probably anything at or above 150F or so would be fine in a dehydrator. The reason I say that is that when you set an oven on 200F and leave the door slightly open to let the moisture out I'd guess that the actual temperature in there is a few degrees cooler. I wouldn't go any lower than 150F in a dehydrator for food safety.
I just checked over on the USDA website and according to them the safe temperature to make sure that salmonella is killed is 165F. That said, when you're leaving the the meat in that hot environment for extended periods of time (6+ hours) the actual safe temp may be a bit lower but it certainly doesn't hurt to go by what the USDA says. 🙂
Here's the link:
Just wondering, is there anyway to do this with super fatty cuts of meat? I want an easy and convenient way to eat more fat!
You should look into making pemmican instead. Fatty meats don't keep very well. The Native Americans figured out that by separating the meat and fat, drying the meat, rendering the fat, and then mixing the two back together, you ended up with a very well preserved product.
Pemmican has berries and stuff mixed in to the fats as well. Presumably the antioxidants and vitamins in the berries help to keep the fat stable.
Unfortunately I think that might be a tough one. Hey – it's worth a try… but traditionally jerky is only made with lean cuts. Just keep food safety in mind. Rancidity and such are a a possible issue with high fat cuts.
Sure you can. I use cuts of fatty brisket, which is a slab of meat with a good layer of fat on and sometimes through it.
Tastes great with the chewy meat and soft juicy fatty bits 🙂
Looks good! Would the dehydrator setting on the oven work as well? We just happen to have that setting, and we've never used it.
Hmmm – sure, sounds like an interesting option. The only danger would be if it was somehow too cool and your turkey took longer to dehydrate. In that case you could theoretically run the risk of bacteria growth. Many home dehydrators have settings from about 90F all the way up to 160F. If your oven dehydrator mode gives you a temp of less than about 200F, I'd opt for just setting it to 200F. Many items, like herbs or fruit, do well at a lower temp but I wouldn't recommend it for meat.
Update: I just checked the USDA website and it says that you need to get the turkey temp up to 165F to make absolutely sure that you kill all of the potential pathogens:
Thank you–I didn't think about the bacteria risk (and I'm usually overly-paranoid about that!) Our oven is especially risk then at the moment as it's either 25 degrees off (or taking longer to get to the right temperature). For instance, we have to cook chicken at 350 instead of 325 (and sort of watch it–obviously finished when the internal temperature is correct). Anyway, thanks again for the tip!
I have the dehydrator option on my oven and have used it many, many , many times to dehydrate beef. Works very well. But, I also store my jerky in the freezer in a ziplock bag. Only store in the freezer because I will make several pounds at a time and don't want it in my fridge. It is a great snack at night when I have the munchies.
…that made me hungry 🙂
…I'm always hungry:)
For venison in my house, we just keep it in the fridge until it's gone… I'd probably do the same for any kind of jerky.
…hey Susan. Is that your prom dress? Love that!
good idea for turkey – I would use my fancy dehydrator though since I have it. FYI to all, I also do this with beef, I prefer flank steak, and I use garlic powder as well…super simple and makes the yummiest, beefiest beef jerky ever. It's always a hit. for storage – I put them into ziploc bags and get as much air out as possible, and refrigerate. It usually lasts a couple of weeks (if it's not all gone by then).
when you use flank steak do you cut the meat cross wise? and do you cut it while frozen or just deeply cold?
I've always heard that poultry has to be cooked through — unlike beef. Poultry apparently harbours salmonella. We make homemade beef jerky every week. But I have stayed away from turkey. How would we minimize the risk of salmonella?
Great question, Nancy! According to the USDA, salmonella is killed as long as the poultry reaches a temperature of 165 °F. With this recipe, it will not only reach temperatures well above that but it will also stay at those high temperature for extremely long periods of time.
Check out this link:
Be sure to check *internal* turkey temp with a meat thermometer. Learned this the hard way making salmon jerky… luckily you can see roundworms, not so with salmonella!
PS: anyone thinking about salmon jerky, google roundworms + wild caught salmon. Awesome.
will try this ASAP when I get back from camp. Here in Thailand, my bungalow does not have kitchen. ALL meals are taken at restaurants. 🙁
also the home-made coconut milk idea
This is really awesome! It's kinda easy to make, it just takes too long. Guess, I have to be more patient in waiting. I really love turkey and I just would like to commend you for posting this recipe, very detailed and straight to the point. Thank you so much!! 🙂
How much weight is loss per pound? 1 lb of breast become .5 lb of jerky?
Here's a helpful link that sheds some light on approx. percentages on water in different meats:
Tendergrass Farms poultry is air chilled, not water chilled, so the water content is somewhere around 8% less than the numbers given by the USDA being that 99% of commercial poultry is water chilled …so they're actually selling you about 8% less meat than we are, pound for pound! 🙁
This sounds great! I was wondering if I can do the same with chicken?
Catherine –
Yes – I believe it is possible. See my response to Scott UK above. 🙂
Thanks! (:
I've used proven turkey jerky recipes on free-range chickens and I didn't get the expected results, I don't know why either. Likewise, I have proven recipes for smoking whole turkey's that don't translate well to chickens. I'm at a bit of a lose to figure out why. Admittedly I don't spend a ton of time on it, there's so many other good ways to make chicken I choose not to spin my wheels trying to make that work.
I have not tried to make turkey jerky yet, but last year I invested in a food dehydrator and I use it frequently for ham jerky and beef jerky.
Now I guess its time to move on and try your turkey jerky recipe!
Turkey breast is pretty dry, so I would imagine it shrinks less than beef sirloin?
Psyched to see David and Tendergrass Farms on MDA. These folks are friends and neighbors of mine and, in case anyone is wondering, they are the real deal (highly ethical, family operation and still farming) doing real work providing markets to help farmers in our very rural area. Strictly local markets don't provide many options beyond selling livestock at auction to be shipped out of the area to feedlots. You know the rest of that story. Thanks for the great post, David. I'll be by later to get some breasteseses…..
Hey, what happened to Wayne? Anybody know?
Who's Wayne?
Wayne Static. Well, that's fandemonium spam.. But he's a primal artist, despite his vegetarian diet. He uses the word primal in the true sense. So does author Tom Robbins. Both of them have influenced me in primal ways.
I make Turkey Jerky every spring. I'm fortunate in that living in the upper midwest, there are plenty of hunting opportunities right out our front doors. We make our own jerky from turkey, goose, duck and venison…all wild of course.
We've found that less is more when it comes to jerky recipes. There's no need for a laundry list of ingredients, salt,fresh course black pepper and Tabasco are really the only ingredients that we use.
Sorry, but Tendergrass Farms prices are WAY too high. 15 bucks a pound for bacon??? Seriously?? Their Family Pack, touting HUGE SAVINGS works out to 20 dollars a pound. Hey, Tender Butts, we're Paleo, we're not stupid.
Awww, it's just not fair, is it Dano?
that sure looks yummy. thanks for the delicious recipe.
There was a time when I regularly ate turkey bacon cooked in an oven. It was delicious, though not as good as pork bacon.
How do you cut the meat?
Across the grain?
On the bias?
Great question. The way the grain is in a turkey breast it's hard to consistently cut it with the grain but you can give it a try being that I'd say that's the 'traditional' way to do it. You'll end up with a bit going both ways. 🙂
Looks delicious, can't wait to try it.
I tried this recipe last week, followed the instructions to a tee, but after six hours, it was dried to the point of being hard and brittle. It was still pretty good, but it seemed much, much drier and crunchier than your standard jerky texture. Any thoughts?
I just tried this, followed the instructions exactly, and after 3 hours at 200 F my turkey was hard as a rock. As in, I can't even break some of the strips in half because they are so hard and eating it would probably break my teeth.
Any ideas on what could have gone wrong? Is it possible my oven thermometer is inaccurate and the oven was too hot? So disappointed!
I have one of those new fangled ovens that has a fan in it. Convection, I think. The fan only works with the door closed. I would think the fan would help dry the meat. What do you think? If I closed the door and used the fan, would I still shoot for 200 degree, if you think the fan is a good idea?
I'm puzzled. How can you hang sticks in an oven?
Looks great David! Have you thought about selling some of your turkey jerky at Tendergrass?
Looks good will try it should work well with Ostrich breast too
I've been looking for a turkey jerky recipe and all of them say to use ground turkey and a jerky gun, which is way more work than I wanted to put into making turkey jerky.
I'd like to ask if you've tried other methods other than the skewers? In the interest of using less resources and saving time I'm wondering if placing the turkey on a rack such as a cake cooling rack set inside a baking sheet to catch any drippings would work as well as the skewer method.
I made mine following this guide except I made thicker cuts then the pictures advertise and after 4 hours my meat was ruined. I literally followed every step except I used 250 degrees instead of 200 and checked it at 4 hours and its all hard and crunchy like a rock. My advise, do the 200 degrees but screw the 6 to 10 hour comment…I bet 2 to 3 is enough…esp. if u cut your pieces as thin as shown above.
Like Patrice, I really enjoyed the article and the photos. I have to definitely try this. I remember my uncles making venison jerkey after hunting. I couldn't eat venison today as deer wander through my property and I just love them.
My mother is a grass fed aficionado and she's converting me.
Thanks for the article. Well done!
I'm so ready to try making turkey jerky, as beef does a number on my gut. I'm curious…has anyone tried seasoning the jerky with anything other than salt and pepper? I'm thinking something along the lines of Coconut Aminos, either dipping or marinating for a bit before dehydrating. Thanks!