• Growth of 4.5% in like-for-like rental income
• Increase of 44.4% in results of operations to EUR 107.6 million
• Improvement of 34.0% in FFO 1 to EUR 71.4 million
More than 120 million customers visited IMMOFINANZ’s retail properties in 2017. These properties are branded as STOP SHOP and VIVO! and have roughly 800,000 sqm of rentable space in total.
The Supervisory Board and Executive Board of IMMOFINANZ AG today decided to continue the suspension of detailed discussions over a possible merger between CA Immobilien Anlagen AG (CA Immo) and IMMOFINANZ for the time being and to also evaluate other strategic options.
IMMOFINANZ posted a significant increase in net profit from continuing operations (excl. Russia) for the first three quarters of 2017, to EUR 116.3 million (Q1-3 2016: EUR -217.8 million). Rental income remained stable at EUR 174.1 million despite the ongoing sale of non-strategic properties (Q1-3 2016: EUR 174.0 million). Adjusted for new acquisitions, completions and sales (like-for-like), rental income rose significantly, by 3.9% to EUR 138.4 million. The results from Asset Management grew 11.3% to EUR 122.6 million; financial results moved strongly into positive territory at EUR 88.6 million (Q1-3 2016: EUR -143.9 million). This was primarily a result of positive valuation effects from the CA Immo and BUWOG shareholdings, and lower financing costs. Overall, net profit (incl. Russia) improved to EUR -59.1 million (Q1-3 2016: EUR -409.5 million).
IMMOFINANZ has standardised the marketing for its international STOP SHOP retail park brand, which covers nearly 70 locations in eight countries. The new claim “easy shopping“ summarises the central brand drivers: STOP SHOP is the appealing and practical local supplier with a diverse product offering that provides attractive value for money and can be easily reached through good traffic connections. All promotional campaigns will now be developed in the Vienna headquarters and used for STOP SHOP advertising in all countries. The current “back to school“ campaign marks the kick-off for this new marketing approach.
IMMOFINANZ recorded a significant increase in net profit to EUR 105.3 million in the first half of 2017 (H1 2016: EUR -243.3 million). Net profit from continuing operations, i.e. excluding Russia, totalled EUR 113.1 million (H1 2016: EUR -123.9 million). Rental income remained stable at EUR 114.9 million (H1 2016: EUR 115.9 million) despite the continuing sale of non-strategic properties.
IMMOFINANZ generated net profit of EUR 101.7 million from continuing operations, i.e. excluding Russia, in Q1 2017 (Q1 2016: EUR -139.3 million). Rental income totalled EUR 57.1 million for the reporting period, compared with EUR 58.2 million in Q1 2016. The slight decline of 1.9% resulted primarily from portfolio adjustments involving the retail sector in Austria. After an adjustment for new acquisitions, completions and sales (like-for-like), rental income rose by 3.7% to EUR 49.7 million in the starting quarter of 2017. Results of operations equalled EUR 17.8 million (Q1 2016: EUR 57.2 million). Financial results improved substantially to EUR 93.0 million (Q1 2016: EUR -37.3 million), above all due to positive valuation effects from the investments in CA Immo and BUWOG.
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