EANS-News

S IMMO AG / results for the first half year right on target - Seite 3

successful step towards simplifying S IMMO AG's capital structure.
The dividend policy now consistently pursued is also having an
effect: S IMMO share put on more than 12% in the first half year.

Ernst Vejdovszky explains: "We are registering increasing investor
interest - also on the part of international investors - and are very
pleased with the improvement. We still see significant upside
potential for our share, and will continue to work hard to bring the
stock market price closer to the share's inner value."

Outlook As in earlier years, the Management continues to vet
promising property purchases and examine sales opportunities. Sales
during the year of roughly 5% of the property portfolio are planned,
concentrating on Austria and Germany. S IMMO AG still sees attractive
investment opportunities in Berlin, and predominantly in residential
property. The lively demand for apartments means that S IMMO's focus
is on development of freehold apartment blocks on land already owned
by the Group. The start of some projects is scheduled for this year.

S IMMO AG As Austria's first stock exchange listed real estate
investment company, S IMMO AG has stood for experience, a balanced
portfolio and sustainable growth since 1987. The Group invests in
residential, office, hotel and retail property in Austria, Germany,
the Czech Republic, Slovakia, Hungary, Croatia, Romania and Bulgaria.
The Company's strategic core shareholders, Erste Group and Vienna
Insurance Group, are two of the region's largest financial services
groups.

Consolidated income statement for the six months ended 30 June 2014
(EUR m)

01 - 06/2014 01 - 06/20131
Revenues 93.2 97.0
Rental income 56.8 59.0
Revenues from operating costs 17.3 18.8
Revenues from hotel operations 19.1 19.2
Other operating income 2.3 3.5
Expenses directly -26.2 -30.1
attributable to properties
Hotel operating expenses -14.6 -15.3
Gross profit 54.6 55.1
Income from property disposals 39.6 83.8
Book value of property disposals -39.6 -81.4
Gains on property disposals 0 2.4