EQS-News: IMMOFINANZ AG / Key word(s): Quarterly results/real estate IMMOFINANZ with strong development in the starting quarter of 2024 May 27, 2024 / 6:16 p.m. CET/CEST The issuer/publisher is responsible for the content of the announcement. ════════════════════════════════════════ ══════════ ════════════════════════ IMMOFINANZ with strong development in the first quarter of 2024 • Rental income and results significantly increased • Rental income by 11.5% to EUR 143.2 million . increased • Like-for-like rental growth of 6.4% • Result from asset management increased by 14.3% to EUR 120.0 million • Operating result increased significantly by 26.4% to EUR 104.3 million • EBT (EUR 71.3 million) and consolidated profit (EUR 49.7 million) more than doubled • FFO 1 increased by 23.5% to EUR 69.7 million • Liquid assets at a high level of EUR 639.5 million • Very robust Financial basis with equity ratio of 48.5% and net LTV of 41.5% KEY FIGURES (IN MEUR) Q1 2024 Δ IN % Q1 2023 Rental income 143.2 11.5 128.4 Result from asset management 120.0 14.3 104 .9 Result from real estate sales 0.4 na -5.1 Result from real estate development -0.5 65.0 -1.4 Operating result 104.3 26.4 82.5 Revaluations -9.9 -9.4 -9 ,1 EBIT 93.7 21.1 77.4 Financial result -22.3 54.0 -48.5 EBT 71.3 > +100.0 28.9 Consolidated result 49.7 > +100.0 18.4 FFO 1 (after taxes) 69.7 23.5 56.4 The IMMOFINANZ Group developed successfully operationally in the first quarter of 2024 and achieved significant increases in rental income and results. Rental income increased by 11.5% to EUR 143.2 million compared to the same period last year. Adjusted for new acquisitions, completions and sales, IMMOFINANZ’s like-for-like rental income (excluding S IMMO) also increased by a solid 6.4% to. At EUR 120.0 million, the result from asset management was 14.3% above the previous year’s value and the operating result even improved by 26.4% to EUR 104.3 million. The FFO 1 after taxes increased compared to the previous year increased by 23.5% to EUR 69.7 million (Q1 2023: EUR 56.4 million). “We got off to a successful start in 2024, achieved significant increases in all relevant key figures and even more than doubled our consolidated result. This strong development was possible because we expanded our portfolio last year with high-yield retail properties and achieved higher like-for-like rental income with our asset management. Our strategy has once again proven to be resilient and value-creating, even in an environment that continues to be challenging. We will consistently continue on this path,” says Radka Doehring, member of the IMMOFINANZ board, commenting on business development. Total revaluations (including real estate developments and property sales) amounted to EUR -9.9 million after EUR -9.1 million in the same period of the previous year. They reflected the continued challenging market environment. The financial result was EUR -22.3 million (Q1 2023: EUR -48.5 million). The IMMOFINANZ Group’s consolidated result more than doubled to EUR 49.7 million. Earnings per share increased to EUR 0.35 (Q1 2023: EUR 0.16). High occupancy rate and successful portfolio optimization As of the balance sheet date, the IMMOFINANZ Group’s real estate portfolio comprised 505 properties with a portfolio value of EUR 8.1 billion. Of this, EUR 7.8 billion was attributable to existing properties with a rentable area of 3.5 million m² and a gross return of 7.2%. The occupancy rate was at a high level of 92.1%. The IMMOFINANZ Group continued its strategic real estate sales with a total volume of EUR 91.8 million (including S IMMO) in the first quarter of 2024. Further portfolio optimizations were also implemented after the reporting period. S IMMO bought a portfolio in the Czech Republic with a total value of EUR 463 million from the CPI Property Group. IMMOFINANZ sold the City Tower Vienna (Wien Mitte Justice Center) to a German investor in May 2024. With a sales price of more than EUR 150 million, this was the largest transaction on the Vienna office property market of 2024 at this point. Robust balance sheet IMMOFINANZ Group has a robust capital and financing structure with an equity ratio of 48.5%, a net -Loan-to-value (net LTV) of 41.5% and liquid assets of EUR 639.5 million (as of March 31, 2024). Around 97% of financial liabilities are hedged against interest rate increases. The IFRS book value per share improved by 1.4% to EUR 26.97 (December 31, 2023: EUR 26.60). The EPRA NTA intrinsic value per share amounted to EUR 28.42 as of March 31, 2024, after EUR 28.00 at the end of December 2023. Outlook For 2024, experts expect the market environment to remain challenging due to the current macroeconomic and geopolitical conditions. Despite these challenges, IMMOFINANZ Group remains optimistic for the future. With its flexible and resilient real estate products, the company sees itself well positioned in the current market environment. From today’s perspective, IMMOFINANZ Group is therefore well positioned to continue its growth path in the medium to long term. IMMOFINANZ AG’s interim report for the first quarter of 2024 as of March 31, 2024 is available on the company’s website at (1) https://immofinanz.com/de/investor-relations/finanzberichte available from May 27, 2024. About IMMOFINANZ The IMMOFINANZ Group is a commercial real estate group and focuses its activities on the office and retail segments in eight core markets in Europe: Austria, Germany, Poland, Czech Republic, Slovakia, Hungary, Romania and the Adriatic region. The core business includes the management and development of real estate. IMMOFINANZ relies on its established real estate brands STOP SHOP (retail), VIVO! (retail) and myhive (office) as well as complementary products and portfolios, such as that of S IMMO. IMMOFINANZ increased its stake in S IMMO to 50% plus 1 share at the end of 2022 and is now fully consolidating this company. The IMMOFINANZ Group has real estate assets worth around EUR 8.1 billion, spread over around 500 properties. The company is listed on the Vienna (leading index ATX) and Warsaw stock exchanges. Further information: (2) https://www.immofinanz.com
If you have any questions, please contact: Simone Korbelius Investor Relations and Corporate Communications T +43 (0)1 88 090 2291 M +43 (0)699 1685 7291 (3)communications@immofinanz.com
(4)investor@immofinanz.com IMMOFINANZ A-1100 Vienna, Wienerbergstraße 9
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════════════════════════════════════════ ══════════ ════════════════════════ 05/27/2024 CET/CEST Publication of a corporate news/financial announcement, transmitted by EQS Group AG. www.eqs.com
════════════════════════════════════════ ══════════ ════════════════════════ Language: German company: Immofinanz AG Wienerbergstraße 9 1100 Vienna Austria Telephone: +43 (0) 1 88090 – 2291 Fax: + 43 1 88090 – 8291 Email: investor@immofinanz.com
Internet: http://www.immofinanz.com
ISIN: AT0000A21KS2 WKN: A2JN9W Stock exchanges: open market in Berlin, Frankfurt, Munich, Stuttgart, Tradegate Exchange; Warsaw, Vienna Stock Exchange (official trading) EQS News ID: 1911903 End of message EQS News Service 1911903 05/27/2024 CET/CEST References Visible links 1. https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=redirect&url=ee4544bd3c50149a0d9e453b51594207&application_id=1911903&site_id=apa_ots_austria~~~18b544d0-9c71-4160-bd95-cc8b9aff9fbf&application_name=news
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