IMMOFINANZ Hungary is awarded best Asset Management company of the Year 2017
IMMOFINANZ was awarded as “Asset Management Company of the Year” in 2017 at Office of the Year Competition.
Articles tagged Immofinanz
IMMOFINANZ strengthens balance sheet and posts significant improvement in net profit for the first three quarters of 2017
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 launches “easy shopping“, the first international advertising campaign for its STOP SHOP retail brand
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 grows stronger in the first half of 2017: Significant increase in Group net profit to EUR 105.3 million
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: Innovation on the office market
Viktor Nagy, IMMOFINANZ Country Manager Operations Hungary gives a few pointers about ensuring that the needs of tenants and their employees are met, and exceeded.
IMMOFINANZ: Results of operations increased in Q1-2 2016A, net profit negatively influenced by valuation effects
IMMOFINANZ generated results of operations totalling EUR 87.6 million in the first two quarters of the abbreviated 2016 financial year, for an increase of 28.2% over the comparable prior year period. This growth was supported, above all, by an improvement in the results of asset management (plus 5.1% to EUR 107.3 million) following a substantial decline in the write-off of receivables in Russia and lower vacancy-related and operating costs charged to building owners as well as a reduction in other operating expenses (from EUR -53.5 million to EUR -26.1 million).
IMMOFINANZ expands STOP SHOP portfolio to 66 retail parks through eight acquisitions
IMMOFINANZ is continuing the expansion of its successful STOP SHOP retail park portfolio with the acquisition of eight locations in Slovakia and Hungary. The purchase price for these properties totals approx. EUR 79.0 million. The newly acquired retail parks have an occupancy rate of roughly 98% and generate annual rental income of approx. EUR 6.6 million.
IMMOFINANZ: Net profit for 2015/16 negatively influenced by Russia and non-recurring effects, dividend of 6 cents per share planned
IMMOFINANZ recorded net profit of EUR -390.4 million for the 2015/16 financial year (2014/15:EUR -376.6 million). The year-on-year decline resulted primarily from EUR -469.8 million of negative effects from the foreign exchange-adjusted valuation of the Russian portfolio and from a decrease in rental income to EUR 314.5 million (2014/15: EUR 385.6 million) which was caused by temporary rent reductions in Moscow and the planned sale of properties.
