EANS-News

S IMMO AG / results for the first half year right on target

--------------------------------------------------------------------------------
Corporate news transmitted by euro adhoc. The issuer/originator is solely
responsible for the content of this announcement.
--------------------------------------------------------------------------------

6-month report

S IMMO AG: results for the first half year right on target

· Net profit for period increased to EUR 16.4m
· EBIT up by 9%
· Net operating income higher again
· Successful exchange of participating certificates for corporate bonds

Halfway through 2014, stock exchange listed S IMMO AG (Bloomberg:
SPI:AV, Reuters: SIAG.VI) can look back on two very successful
quarters. Ernst Vejdovszky, Chairman of S IMMO AG's Management Board,
comments: "The results for the first half make us feel very
optimistic about the rest of the year. We have been successful in
improving our key indicators, and we are happy to reaffirm our goal
of doing even better in 2014 than the excellent results we achieved
in 2013."

Friedrich Wachernig adds: "Even from those of our markets that have
been more than challenging in the past, the news we are now hearing
is increasingly positive - they have left their troughs behind them.
Exchanging our participating certificates in the capital markets has
also sent a strong signal, and encourages us to view the future with
confidence."

Gross profit S IMMO AG's total income for the first half of 2014 came
to EUR 93.2m, compared with EUR 97.0m in the same period last year.
The rental income of EUR 56.8m was lower than the EUR 59.0m achieved
a year earlier, as an expected result of the property disposals.
Revenues for the half year from hotel operations (revenues from the
Vienna and Budapest Marriott Hotels, both operated under management
agreements) were EUR 19.1m, after EUR 19.2m in the first half of
2013. The gross profit from hotel operations improved from EUR 3.9m
to EUR 4.5m.

Property management expenses in the first half of 2014 of EUR 26.2m
were reduced by 12.8% compared with the same period last year.
Improvements in the cost structure together with a higher gross
profit from hotel operations substantially made up for the reduction
in rental income as a result of property sales. Despite lower other
operating income (EUR 2.3m), the overall gross profit of EUR 54.6m
held up more or less at last year's level (HY 2013: EUR 55.1m). This
was attributable to the excellent operating performance.

Successful property sales For the financial year 2014 S IMMO is
planning on property disposals of up to 5% of the portfolio. In the
first half of the year four properties were sold for a total of EUR