Brief: Immofinanz Q1 FFO At Eur 69.7 Million

CPI Europe AG

27/05/2024 17:25

May 27 (Reuters) - IMMOFINANZ AG  IMFI.VI :
    * IMMOFINANZ WITH STRONG DEVELOPMENT IN THE FIRST QUARTER OF
2024
    * IMMOFINANZ OPERATIONS RESULT JUMPS 26.4% TO EUR 104.3M
    * CASH AND CASH EQUIVALENTS WERE AT HIGH LEVEL OF EUR 639.5
MILLION
    * EBT (EUR 71.3 MILLION) AND NET PROFIT (EUR 49.7 MILLION)
MORE
THAN DOUBLED
    * FFO 1 WAS 23.5% HIGHER AT EUR 69.7 MILLION
    * ROBUST FINANCIAL BASIS WITH EQUITY RATIO OF 48.5% AND NET
LTV OF
41.5%
    * LIKE-FOR-LIKE RENTAL INCOME EQUALLED 6.4%
    * EXPERTS EXPECT A CONTINUATION OF CHALLENGING MARKET
ENVIRONMENT
IN 2024 DUE TO CURRENT MACROECONOMIC AND GEOPOLITICAL SITUATION
    * WELL POSITIONED TO CONTINUE ITS GROWTH COURSE OVER MEDIUM-
TO
LONG-TERM
    * REVALUATIONS (INCLUDING PROPERTY DEVELOPMENT AND PROPERTY
SALES)
TOTALLED EUR -9.9 MILLION, COMPARED WITH EUR -9.1 MILLION IN Q1
OF 2023

Source text for Eikon:  ID:nEQ8LMJGsa 
Further company coverage:  IMFI.VI 

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