As announced by the company, the listed S IMMO suffered a net loss at the start of the year due to real estate revaluations, but operationally posted better figures than a year ago.
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After a profit of 15.1 million euros, this time stood at 21.4
Million euro net loss to book, announced the S IMMO Tuesday morning.
The property valuation result was -31.5 million after EUR +9.9 million
Early 2019.
In the first quarter increased from 28.4 to 31.1 million euros
According to S IMMO, rental income reflects the additions to rented properties
Real estate in CEE and Germany and a good one
Like-for-like performance. Gross profit grew to 25.8 (24.0)
Million Euro. The operating result from rentals (FFO I) rose
EUR 13.8 (10.8) million, the FFO II to EUR 15.8 (11.4) million.
That the property valuation result was negative this time is
Attributed to the corona pandemic: the EUR -31.5 million corresponds approximately
1.3 percent of IFRS real estate assets, it says. From the devaluations
Austria accounted for EUR 8.6 million and CEE for EUR 22.9 million,
in Germany there was a slight increase in valuation. Because of Covid-19
there is no concrete outlook on the result: the others
The effects of the pandemic cannot currently be reliably assessed.
Because of the uncertainties caused by Covid-19, it was loud
Quarterly report on devaluations of those valued at market prices
Investments in Immofinanz and CA Immo, so that the
“Other financial assets” item to EUR 413.7 million
decreased (after 554.1 million euros at the end of 2019) and the overall result
accordingly negatively influenced. S IMMO keeps up
last available information 12 percent of Immofinanz and 6.3 to
6.4 percent of CA Immo.
According to CEO Ernst Vejdovszky, not everyone is from the corona crisis
Regions and above all not all types of use equally
affected. In March, S IMMO is mainly from the second
Half of the month was affected, in April there was mainly in hotels
and the trade suffered significant losses. “May was certainly not yet
Happy month, but we are seeing increasingly positive signals, one
gradual relaxation of the measures and a glimmer of hope on
Horizon.”
In addition, residential real estate, which is almost 30 percent of the
S IMMO portfolios, hardly affected and could in the
next month even from the general uncertainties
benefit. The capital increase carried out in early 2020 did
provides a very comfortable cash cushion, “which already gives us
is confident about 2021, “said the CEO.
“There will be opportunities in this crisis,” said
Executive director Friedrich Wachernig in the broadcast: “And we
have the strength, the expertise and a very high cash balance
of over 230 million euros the means to turn these opportunities into the right ones
To use moments. “
The property portfolio consisted of 344 (end 331) properties at the end of March
with a book value of EUR 2.363 (2.371) and a further 1.2 million m2
Total usable area; the occupancy rate was 94.9 percent. The
Total rental yield is estimated at 5.3 percent. 19 percent of
Book values were in Austria, almost 50 percent in Germany
Rest in the CEE region. 41 percent of the portfolio was office buildings, 20
Percent commercial real estate, 30 percent residential property and 9.5 percent
Hotels. In the first months of 2020, there were some in Germany
Real estate acquired in Germany. Purchases in Austria and
CEE did not take place in the reporting period.
In Vienna, the S IMMO share rose in the meantime by 1.2 percent to 16.92 euros, but ultimately dropped 0.24 percent to 16.68 euros.
(APA)
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