DGAP-Adhoc

IMMOFINANZ: Substantial foreign exchange-adjusted write-down to Russian portfolio expected in Q3 2015/16

IMMOFINANZ AG / Key word(s): Real Estate/Miscellaneous

04.02.2016 18:19

Dissemination of an Ad hoc announcement, transmitted by DGAP - a service of
EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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In view of the recent significant deterioration in economic conditions in
Russia, the Executive Board of IMMOFINANZ AG has commissioned CBRE, the
newly appointed appraiser for the CEE portfolio, to prepare a special
appraisal of IMMOFINANZ's Russian properties as of 31 January 2016.

The first indications from the appraiser's valuation lead to expectations
of a foreign exchange-adjusted write-down of approx. EUR 400 million to
the five Moscow retail properties in the third quarter of 2015/16. The
carrying amount of these five properties totalled approx. EUR 1.57 billion
as of 31 October 2015.

The outlook for IMMOFINANZ's distribution policy for the 2015/16 financial
year and the 2016 abbreviated financial year, which was announced on 2
February 2016, remains unchanged.

The final results of the special appraisal and results for the first three
quarters of 2015/16 will be announced as planned on 16 March 2016 after the
close of trading.


On IMMOFINANZ
IMMOFINANZ is a commercial real estate company whose activities are focused
on the retail and office segments of eight core markets in Europe: Austria,
Germany, Czech Republic, Slovakia, Hungary, Romania, Poland and Moscow. The
core business includes the management and development of properties. The
company has a real estate portfolio of approx. EUR 6.2 billion that covers
more than 390 properties. IMMOFINANZ is listed on the stock exchanges in
Vienna (leading ATX index) and Warsaw. Further information under:
http://www.immofinanz.com


For additional information contact:
Bettina Schragl
Head of Corporate Communications and Investor Relations
IMMOFINANZ
T [phone]
M [phone]
[e-mail] I [e-mail]


04.02.2016 The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de

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Language: English
Company: IMMOFINANZ AG
Wienerbergstraße 11
1100 Wien
Austria
Phone: [phone] - 2291
Fax: [phone] - 8291
E-mail: [e-mail]
Internet: http://www.immofinanz.com
ISIN: AT0000809058
WKN: 911064
Listed: Regulated Unofficial Market in Berlin, Munich, Stuttgart;
Open Market in Frankfurt ; Wien (Amtlicher Handel / Official
Market)

End of Announcement DGAP News-Service

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