S IMMO AG 308 0 Kommentare S IMMO AG: Positive trend continues in first quarter - Seite 2

Capital market and key figures
In the first quarter of 2019, the international capital markets showed a clear upward trend. In this environment, the S IMMO share also displayed an impressive performance of more than 25% and thus outperformed the ATX (10.5%) and IATX (14.4%). The EPRA NAV rose to EUR 22.27 per share in the reporting period - a significant increase over the prior-year figure of EUR 17.79 as of 31 March 2018. FFO I also advanced from EUR 9.8m in the first quarter of 2018 to EUR 10.8m as of 31 March 2019.

In May 2019, S IMMO AG successfully placed a corporate bond with a volume of EUR 150m. Along with refinancing the 2014-2019 bond, the proceeds will be used for acquisitions.

Outlook
The company is examining options for purchases in all of its markets. In Germany, S IMMO is primarily investing in larger cities with promising demographic and economic development. In addition, it has acquired large-scale plots of land in the area surrounding Berlin. The company currently has an area of around one million square metres in Berlin's commuter belt, which offers development and growth potential on a long-term basis. In CEE, the company has already purchased plots in Bucharest and Budapest in the current financial year.

According to Friedrich Wachernig, a member of the S IMMO AG's Management Board, "We are currently making investment decisions that will benefit us in the short, medium and long term. This includes both revenue-generating portfolio properties as well as land and properties with development potential. We are securing long-term earnings opportunities - with sound reason and focused vision."

	01-03/2019	01-03/2018
Revenues	47.8	43.5
Rental income	28.4	24.6
Revenues from operating costs	8.4	8.9
Revenues from hotel operations	11.1	10.0
Other operating income	0.4	0.6
Property operating expenses	-15.7	-14.4
Hotel operating expenses	-8.6	-8.1
Gross profit	24.0	21.6
Income from property disposals	4.7	0
Book value of property disposals	4.7	0
Gains on property disposals	0	0
Management expenses	-4.5	-4.3
EBITDA	19.5	17.3
Depreciation and amortisation	-2.1	-1.8
Results from property valuation	9.9	9.4
Operating result (EBIT)	27.4	24.9
Financial result	-9.7	-6.7
Net income before tax (EBT)	17.7	18.1
Income tax	-2.6	-3.4
Consolidated net income for the period	15.1	14.7
of which attributable to shareholders in parent company	15.1	14.7
of which attributable to non-controlling interests	0.05	0.02

Earnings per share (in EUR)	0.23	0.22
FFO I per share (in EUR)	0.16	0.15