Brief: S Immo AG Q1 Rental Income At EUR 58.4 Mln, Up 23% YoY

S IMMO AG

27/05/2024 07:11

May 27 (Reuters) - S IMMO AG  SIAG.VI :
    * TOTAL INCOME INCREASED SIGNIFICANTLY FROM EUR 80.0M TO EUR
93.5M
    * Q124 AT EUR 58.4M, RENTAL INCOME WAS UP 23% ON PREVIOUS
YEAR
    * Q124 EBITDA ROSE BY 42% TO EUR 44.6M
    * Q1 DUE TO INCREASE IN RESULT FOR RENTED PROPERTIES, GROSS
PROFIT
IMPROVED SIGNIFICANTLY FROM EUR 40.3M TO EUR 54.2M
    * Q124 NET INCOME FOR PERIOD OF EUR 0.5M
    * Q124 EARNINGS PER SHARE TOTALLED EUR 0.09
    * Q124 FFO I AMOUNTED TO EUR 32.3M AS OF 31 MARCH 2024
    * Q1 NET LOAN-TO-VALUE (NET LTV): 48.2%
    * Q124 AS OF 31 MARCH 2024, S IMMO GROUP'S TOTAL ASSETS
AMOUNTED
TO EUR 4,029.1M (31 DECEMBER 2023: EUR 4,179.9M)
    * LATEST ACQUISITIONS IN CZECH REPUBLIC CONTRIBUTE AROUND
EUR
28.3M IN ADDITIONAL RENTAL INCOME PER YEAR
    * Q124 RESULT FROM PROPERTY VALUATION, WHICH IS MAINLY
ATTRIBUTABLE TO MARKET-RELATED VALUATIONS IN GERMANY, TOTALLED
EUR -22.6M (Q1 2023: EUR -10.0M)
    * Q124 FINANCIAL RESULT CHANGED ONLY SLIGHTLY COMPARED TO
PREVIOUS
YEAR, FROM EUR -13.2M TO EUR -13.5M
    * Q124 OP CASH FLOW 43.8M
    * Q124 EBT 6.5M

Source text for Eikon:  ID:nPex2PRvXa 
Further company coverage:  SIAG.VI 

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