IMMOFINANZ Reports Strong Half-Year Performance

Vienna, 28 August 2024 – IMMOFINANZ AG achieved substantial growth in key financial indicators for the first half of 2024. Rental income rose by 13.0% to EUR 292.5 million, while asset management results increased by 15.2% to EUR 249.8 million. Operations results surged by 88.0% to EUR 221.9 million. EBT improved to EUR 97.7 million, and net profit reached EUR 43.0 million. Notably, FFO 1 after tax grew by 46.6% to EUR 149.9 million. The company also maintained a strong cash position with EUR 767.9 million in cash and cash equivalents.

A high occupancy rate of 92.2% and ongoing strategic portfolio optimization marked the period. The property portfolio, comprising 491 properties valued at EUR 8.2 billion, saw a steady performance with a weighted average unexpired lease term of 3.8 years.

The financial structure remains robust with an equity ratio of 47.7% and a net loan-to-value ratio of 41.6%. IMMOFINANZ continues to hedge around 96% of its financial liabilities against interest rate increases.

Despite a volatile market, IMMOFINANZ aims for continued growth, focusing on portfolio expansion and strategic mergers. The group's outlook remains positive.