CA Immobilien Anlagen AG

CA Immo recorded a strong first quarter

Public disclosure of inside information according to article 17 MAR

Wien (pta045/23.05.2017/19:55) - 23.05.2017

* Rental income increased by 9% to EUR 43.8 m.
* EBITDA with EUR 30.4 m above previous year's level
* Significant rise in net profit to EUR 23.2 m (+ 76%)
* FFO I per share increased by more than 16% to EUR 0.25 (2016: EUR 0.22 per share)
* FFO I - annual target confirmed

CA Immo has made a successful start to business year 2017 and sustained the positive earnings trend of recent quarters.

Results for quarter one 2017
In the first three months of 2017, rental income for CA Immo rose by a significant 9% to EUR 43.8 m. The positive trend was essentially sustained through the acquisition of Millennium Towers in Budapest and the procurement of a minority holding from joint venture partner Union Investment, which in turn generated an increase in rent. The net rental income (NRI) stood at EUR 38.2 m, compared to EUR 35.3 m in 2016. As a result of the positive operational development, earnings before interest, taxes, depreciation and amortisation (EBITDA) rose by around 6% to EUR 30.4 m (compared to EUR 28.8 m in 2016).

The revaluation result totalled EUR 9.5 m on the key date (2016: EUR 16.7 m). The largest contributions to the revaluation gain in terms of amount came from properties in Munich and Berlin. Earnings before interest and taxes (EBIT) of EUR 43.4 m were around 7% below last year's figure (EUR 46.5 m in 2016), largely due to a lower revaluation result in yearly comparison. The financial result after the first three months stood at EUR -12.2 m, a significant improvement on the previous year's value of EUR -27.4 m. The Group's financing costs, a key element in long-term revenue, fell by approx-imately 9% on the 2016 value to EUR -10.2 m.

Earnings before taxes (EBT) stood at EUR 31.2 m, up 63% on the previous year's value of EUR 19.1 m. Aside from the higher operational result, a significantly improved financial result compensated for the lower valuation result. The result for the period was EUR 23.2 m, a substantial improvement of roughly 76% on last year's figure. Earnings per share amounted to EUR 0.25 on the balance sheet date (EUR 0.14 per share in 2016).

FFO I, a key indicator of the Group's long-term earning power, reported before taxes and adjusted for the sales result and other non-permanent effects, totalled EUR 23.6 m in quarter one of 2017 (EUR 20.9 m in 2016). FFO I per share was EUR 0.25 on the key date, more than 16% up on the 2016 figure of EUR 0.22 per share. As in preceding quarters, this underlines operational development that was both robust and independent of the valuation result and which forms the basis for the long-term dividend policy of CA Immo. FFO II, which includes the sales result and applicable taxes, stood at EUR 20.2 m on the key date (EUR 14.9 m in 2016). FFO II per share was EUR 0.22 (against EUR 0.15 per share in 2016).