DGAP-News

TAG Immobilien AG starts into 2021 with significant earnings increase and new ESG initiatives - Seite 3

TAG is the owner of a German portfolio with annual CO₂emissions of 31.9 kg/m², which is a low emission intensity compared with the sector. Particularly in former East Germany, opportunities were used during TAG's strong growth phase a few years ago to acquire residential buildings that had already been modernised. In the following years, the Group invested continuously and systematically in the portfolio. Ecological aspects were permanently taken into account, especially in more extensive modernisation programmes to reduce vacancy. Moreover, a high share of the heating energy consumption is provided by district heating, and ongoing investments in heating systems by TAG's subsidiary Energie Wohnen Service GmbH ensure climate-friendly living. More than 60% of the buildings already have an energy efficiency class of at least 'C'. Less than 5% of the portfolio is in the lowest energy efficiency classes of 'G' and 'H'.

Martin Thiel, CFO of TAG, comments: "Thanks to the very positive business development of the last few years and based on the good quality of our buildings, we see ourselves well positioned for future investments in climate protection. We will carefully work out further details in the next few months. However, it is already clear today that we are investing extensively in climate-efficient buildings through our investments in new-build projects in Poland, which will amount to more than EUR 1 billion in the period 2020-2025".

Social aspects also play a key role in the long-term success of TAG and are not in contrast with current and future economic success. Explaining a key foundation of TAG's sustainability strategy, Claudia Hoyer, COO of TAG, says: "With more than 1,300 employees, TAG manages a portfolio of over 88,000 residential units in Germany alone. This entails a responsibility to society that we strive to fulfil through sustainable action. A key element of our business model has always been to reconcile economic and social interests. By investing outside the major metropolitan regions and in portfolios with existing vacancy, we create liveable residential communities at affordable rents for our tenants. At the same time, these investments are economically attractive".