CA Immobilien Anlagen AG

CA Immo with strong start into 2016

Adhoc announcement according to article 48d section 1 BörseG

Vienna (pta047/24.05.2016/20:10) - 24.05.2016

* Rental income increase by 15.7% to EUR 40.2 m
* EBITDA with EUR 28.8 m up 3.5% on previous year's level
* Significant boost of EBIT to EUR 46.5 m (+84.4% yoy)
* FFO I per share at EUR 0.22 (2015: EUR 0.22 per share)

Vienna, 24 May 2016. Following a record result last year, CA Immo made a successful start to the new business year 2016 with an operationally strong first quarter.

Results for the first quarter of 2016
In the first three months, rental income for CA Immo increased by a significant 15.7% to EUR 40.2 m. This positive trend was essentially made possible by the acquisition of the minority share of the EBRD early in quarter three 2015 and the increase in rent this entailed. Net rental income stood at EUR 35.3 m, up 13.1% on the 2015 figure of EUR 31.2 m.

The overall result from property sales amounted to EUR 0.6 m in the first quarter of 2016 (EUR 1.1 m in 2015). Earnings before interest, taxes, depreciation and amortisation (EBITDA) stood at EUR 28.8 m, 3.5% above the previous year's level of EUR 27.8 m.

The revaluation result on key date 31 March 2016 was EUR 16.7 m, well up on the reference value of 2015 (EUR -5.0 m). The positive value development was mainly driven by actual sales negotiations of individual properties. After the first three months of 2016, the result from joint ventures (accounted for under the at equity method) totalled EUR 1.8 m (against EUR 3.0 m in 2015).

Earnings before interest and taxes (EBIT) stood at EUR 46.5 m on key date 31 March 2016, up by a significant 84.4% on the 2015 figure of EUR 25.2 m. The financial result for the first quarter was EUR -27.4 m, compared to EUR -6.9 m last year. The Group's financing costs, a key element in long-term earnings, amounted to EUR -11.2 m (against EUR -14.9 m in 2015).

Earnings before taxes (EBT) increased from EUR 18.3 m in 2015 to EUR 19.1 m. Owing to a positive tax effect in the first quarter of the previous year, the result for the period declined to EUR 13.2 m or EUR 0.14 per share (EUR 19.3 m or EUR 0.20 per share in 2015).

FFO I, a key indicator of the Group's long-term earnings power, reported before taxes and adjusted for the sales result and other non-permanent effects, totalled EUR 20.9 m in quarter one of 2016 (EUR 21.8 m in 2015). FFO I per share amounted to EUR 0.22 (2015: EUR 0.22).

CA Immo has upheld a robust balance sheet with an equity ratio of 52% and a conservative loan-to-value ratio (net debt to property assets) of 37%. On the key date, NAV (shareholders' equity) per share was EUR 22.12 (against EUR 21.90 per share on 31.12.2015). EPRA NAV stood at 24.61 EUR per share (against EUR 24.32 per share on 31.12.2015).