EQS News: IMMOFINANZ AG / Key word(s): 9-month figures/real estate IMMOFINANZ with strong operating performance in Q1–3 2023 November 29, 2023 / 6:02 p.m. CET/CEST The issuer/publisher is responsible for the content of the announcement. ════════════════════════════════════════ ══════════ ════════════════════════ IMMOFINANZ with strong operating performance in Q1–3 2023 • Strong growth in rental income and operating results • Rental income up 79.4% EUR 389.2 million increased • Strong like-for-like rental growth of 9.3% • Asset management result increased by 92.2% to EUR 323.7 million • Operating result increased by 77.6% to EUR 209, 1 million improved • FFO 1 more than doubled disproportionately by 107.7% to EUR 214.4 million • Liquid assets increased significantly to EUR 831.5 million • Very robust financial basis with equity ratio of 50.0% and net LTV of 37.8% KEY FIGURES (IN MEUR) Q1-3 2023 Δ IN % Q1-3 2022 Rental income 389.2 79.4 216.9 Result from asset management 323.7 92.2 168.4 Result from real estate sales -54, 0 na 5.0 Result from real estate development -6.9 10.7 -7.8 Operating result 209.1 77.6 117.8 Revaluations -219.5 na 79.5 EBIT -1.4 na 186.6 Financial result -99.2 na 122.4 EBT -100.6 na 308.9 Consolidated profit -105.9 na 248.6 FFO 1 (before taxes) 214.4 ≥ +100.0 103.2 The increase in the share in S IMMO to 50% plus one share took place at the end of 2022. Therefore, the assets and liabilities of S IMMO have been included in the consolidated financial statements of IMMOFINANZ since December 31, 2022, and the items in the income statement since the 1st quarter of 2023. The IMMOFINANZ Group generated strong growth in rental income and operating results in the first three quarters of 2023 due to acquisitions, the full consolidation of S IMMO and successful asset management. Rental income increased by 79.4% to EUR 389.2 million compared to the same period last year and the result from asset management was even 92.2% higher than the previous year at EUR 323.7 million. The operating result increased to EUR 209.1 million and the sustainable FFO 1 from existing business more than doubled to EUR 214.4 million. “The results show that our strategy is resilient and we are operating successfully. With acquisitions, the full consolidation of S IMMO and our asset management, we performed strongly even in a challenging market environment and achieved strong growth in all operational key figures. At the same time, we were able to further improve our financial base. This means we are well positioned for the future,” says Radka Doehring, member of the IMMOFINANZ Board of Directors. At the same time, IMMOFINANZ Group had to make market-related real estate devaluations amounting to EUR -219.5 million, which resulted primarily from low-yielding properties. This reduced the consolidated result to EUR -105.9 million (Q1–3 2022: EUR 248.6 million) and the earnings per share to EUR -0.48 (Q1–3 2022: EUR 1.82). High occupancy rate and high rental income The IMMOFINANZ Group’s real estate portfolio comprised 501 properties with a portfolio value of EUR 7.8 billion. Of this, EUR 7.3 billion was attributable to existing properties with a rentable area of 3.3 million m² and a gross yield of 7. 0%. The occupancy rate was at a high level of 92.3% (December 31, 2022: 92.9%). Like-for-like rental income (adjusted for acquisitions, sales and completions, excluding S IMMO) increased significantly by 9.3% in the first three quarters of 2023 (compared to Q1-3 2022). The strategic sales program to optimize the portfolio continued successfully despite below-average transaction activity. Real estate sales amounting to around EUR 649 million (including S IMMO) were completed in the reporting period. Robust balance sheet IMMOFINANZ Group had a very robust balance sheet structure as of September 30, 2023. Liquid assets increased significantly to EUR 831.5 million (December 31, 2022: EUR 684.7 million). The net loan-to-value (net LTV) was improved to 37.8% (December 31, 2022: 40.7%) and the equity ratio to 50.0% (December 31, 2022: 47.9%) . Around 92% of financial liabilities are hedged against interest rate increases. The IFRS book value per share amounted to EUR 27.31 (December 31, 2022: EUR 27.47). The intrinsic value EPRA NTA was EUR 28.50 (December 31, 2022: EUR 29.82). Outlook Based on the figures for the first three quarters of 2023, IMMOFINANZ Group expects that FFO 1 from existing business (before taxes) will reach more than EUR 275 million for the full year 2023. The interim report of IMMOFINANZ AG for the first three quarters of 2023 as of September 30, 2023 is available on the company’s website at (1) https://immofinanz.com/de/investor-relations/finanzberichte available from November 29, 2023. 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 7.8 billion, spread across 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
www.immofinanz.com
════════════════════════════════════════ ══════════ ════════════════════════ 11/29/2023 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; Warsaw, Vienna Stock Exchange (official trading) EQS News ID: 1784689 End of message EQS News Service 1784689 11/29/2023 CET/CEST References Visible links 1. https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=redirect&url=3777090cead6289966dcb472123be2f8&application_id=1784689&site_id=apa_ots_austria&application_name=news
2. https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=redirect&url=80e0770945341ce94336a25dcef56fde&application_id=1784689&site_id=apa_ots_austria&application_name=news
3. communications@immofinanz.com
4. investor@immofinanz.com