CA Immobilien Anlagen AG

CA Immo delivers extremely strong half-year results 2016

Public disclosure of inside information according to article 17 MAR

Vienna (pta025/24.08.2016/19:00) - 24.08.2016.

* Net rental income increase by 19.2% to EUR 72.1 m
* EBITDA with EUR 61.4 m up 22.2% on previous year's level
* Significant boost of EBIT to EUR 137.5 m (+87.8% yoy)
* FFO I per share at EUR 0.46 up 21% yoy (2015: EUR 0.38 per share)
* EPRA NAV per share at EUR 25,68 (+7,6% since the beginning of the year, adjusted for the dividend payment of EUR 0.50 EUR per share)

Following a record result last year, CA Immo made a successful start to the new business year 2016 with a strong first half of the year.

Results for the first half of the business year 2016
In the first six months, rental income for CA Immo increased by a significant 18.3% to EUR 81.3 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 72.1 m, up 19.2% on the 2015 figure of EUR 60.5 m.
The overall result from property sales amounted to EUR 3.0 m after the first two quarters of 2016 (EUR 0.8 m in 2015). However, this result does not contain the highly profitable sales of smaller properties in Austria or a property in Stuttgart (agreed in the first half but not concluded until quarter three).

Earnings before interest, taxes, depreciation and amortisation (EBITDA) stood at EUR 61.4 m, 22.2% above the previous year's level of EUR 50.2 m. In addition to a strong operational result, a significantly positive revaluation result of EUR 113.1 m on key date 30 June 2016 was recorded. This result reflects the extremely positive market environment specifically in Germany, the most important core market of CA Immo. Earnings before interest and taxes (EBIT) stood at EUR 175.6 m on key date 30 June 2016, up by a significant 73.4% on the 2015 figure of EUR 101.3 m.

The Group's financing costs, a key element in long-term earnings, declined despite an expansion of the balance sheet to EUR 21.9 m (against EUR 31.3 m in 2015). Earnings before taxes (EBT) increased from EUR 73.1 m in 2015 to EUR 137.4 m. The result for the period stood at EUR 98.9 m or EUR 1.03 per share (EUR 55.0 m or EUR 0.56 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 43.8 m after the first six months of 2016 (EUR 37.7 m in 2015). FFO I per share amounted to EUR 0.46, an increase of more than 20% on the previous half-year value of EUR 0.38 per share). This underlines operational development that was both extremely robust and independent of the valuation result, thereby forming the basis for our long-term dividend policy. FFO II, which includes the sales result and applicable taxes, was EUR 41.0 m on the key date, up 14.2% from the figure for 2015 amounting to EUR 35.9 K. FFO II per share was EUR 0.43 per share (EUR 0.37 per share in 2015).