EQS-News

IMMOFINANZ 2023 with strong operating performance

EQS-News: IMMOFINANZ AG / Key word(s): Annual Results/Real Estate IMMOFINANZ 2023 with strong operating performance 27.03.2024 / 18:05 CET/CEST The issuer is solely responsible for the content of this announcement.

IMMOFINANZ 2023 with strong operating performance

 

• Strong growth in rental income and operating results
• Rental income rose by 77.8% to EUR 533.6 million
• Sound 8.5% improvement in like-for-like rental income
• Results of asset management increased by 85.1% to EUR 418.5 million
• Substantial growth of 84.7% in results of operations to EUR 285.1 million
• FFO 1 rose by 88.4% to EUR 275.3 million
• Cash and cash equivalents high at EUR 697.1 million
• Very robust financial base with an equity ratio of 47.3% and net LTV of 42.1%

 

KEY FIGURES (IN MEUR)	2023	Δ IN %	2022
Rental income	533.6	77.8	300.2
Results of asset management	418.5	85.1	226.1
Results of property sales	-38.3	n. a.	4.6
Results of property development	-25.6	-23.7	-20.7
Results of operations	285.1	84.7	154.3
Revaluations	-376.8	≤ -100.0	-105.7
EBIT	-67.1	n. a.	258.3
Financial results	-246.1	≤ -100.0	-72.6
EBT	-313.1	n. a.	185.7
Net profit	-229.5	n. a.	142.0
FFO 1 (before tax)	275.3	88.4	146.1

The increase in the investment in S IMMO to 50% plus one share took place at year-end 2022. Therefore, the assets and liabilities of S IMMO have been included in IMMOFINANZ’s consolidated financial statements since 31 December 2022; the income statement positions have been included since the first quarter of 2023.