DGAP-News

BUWOG AG: Results for 2013/14 Financial Year

DGAP-News: BUWOG AG / Key word(s): Final Results
BUWOG AG: Results for 2013/14 Financial Year

29.08.2014 / 18:43

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- BUWOG successfully completes 2013/14 financial year - Recurring FFO of
EUR 69.2 million*

- Executive Board will propose a dividend of EUR 0.69 per share

- The BUWOG Group advances to become the leading German-Austrian
residential property company

- Potential of BUWOG Group's three-pillar business model underscored by
increased rental income from the portfolio, high margins on fair value
in Unit Sales and a strong pipeline of development projects

Vienna, 29 August 2014 - BUWOG AG can look back on a successful financial
year that was also shaped by long-term strategic decisions connected with
the spin-off from its former parent IMMOFINANZ AG, its successful listing
on the Frankfurt, Vienna and Warsaw Stock Exchanges and major acquisitions.
BUWOG AG has now established a clear position on the capital market as the
leading German-Austrian residential property company and created the
foundation for further growth in the high-margin German real estate market.

Following the acquisition of the DGAG portfolio and its management platform
in June 2014 and the purchase of further smaller real estate portfolios in
Germany, BUWOG Group's standing investment portfolio of approx. 53,000
units is now evenly split between Germany and Austria. The relating strong
cash generation profile is evidenced in Recurring FFO, which exceeded
forecast at EUR 69.2 million*. Based on the successful 2013/14 financial
year, the Executive Board plans to recommend the distribution of a EUR 0.69
dividend per share to the Annual General Meeting. This represents a 4.0%
dividend yield on EPRA-NAV per share (EUR 17.21) and a 4.7% dividend yield
based on the closing price on 28 Aug 2014 EUR (14.78). This dividend is
classified as a repayment of capital in accordance with § 4 (12) of the
Austrian Income Tax Act and is therefore tax-free for natural persons
resident in Austria who hold BUWOG shares as part of their private assets.

With results of EUR 75.9 million*, the Asset Management business area was
the strongest of BUWOG Group's three business areas - Asset Management,
Property Sales and Property Development - in 2013/14. The results of the
Property Sales business area totalled EUR 34,0 million* and were influenced
mainly by the strong Unit Sales business with approx. 550 units sold at a
margin of 54% above fair value. The strategic geographic portfolio