By acquiring all of Constantia Privatbank's real estate activities, IMMOFINANZ and IMMOEAST would become anintegrated real estate enterprise, strongly represented in all areas of the real estate business: investment, development, brokerage, property and facility management, real estate fund management etc.
The integration of real estate services would ensure that the entire value added chain is covered in terms of managing the group's own real estate portfolio, and secures optimal interaction between the various service areas.
Above all, completely new business opportunities will open up for IMMOFINANZ in what are also particularly profitable areas.
- Asset management: IMMOEAST and IMMOFINANZ will manage closed-ended funds for institutional real estate investors. Central and Eastern Europe are particularly promising in this respect.
- Property management and facility management: IMV Immobilien Management und Verwaltung GmbH has successfully established numerous foreign branches and is achieving high growth rates in Austria and abroad
- Real estate brokerage: CPB Immobilientreuhand GmbH is Austria's leading broker and its subsidiaries in Poland, Czech Republic, Hungary, Slovakia and Romania are experiencing high growth rates.
- Property development: Property developers Constantia Immobilien Development GmbH and CREDO Real Estate AG together hold development portfolios worth around EUR 700 m in Austria and several Central European countries. Development has been one of the most profitable real estate businesses in the past years.
IMMOFINANZ and IMMOEAST will be the only large publicly listed companies to cover the entire spectrum of real estate activities.
In addition to the extensive strategic opportunities for the IMMOFINANZ Group resulting from the acquisition of Constantia Privatbank's real estate activities, the transaction will also lead to direct and significant improvement in earning power and key corporate figures.
Effect of the transaction on key corporate figures of the IMMOFINANZ Group (2009/10) |
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IMMOFINANZ-Group |
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| Increase in EBITDA |
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€ 80 m – € 100 m |
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IMMOEAST |
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IMMOFINANZ |
Increase in
earnings / share |
€ 0.06 – € 0.07 |
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€ 0.11 – € 0.14 |
| Increase in cash flow / share |
€ 0.10 – € 0.12 |
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€ 0.17 – € 0.22 |
The positive effects forecast by the management for EBITDA, earnings / share, cash flow /share and other key corporate figures are a result of the management fees that will be retained by IMMOFINANZ and IMMOEAST in future, earnings from other asset management activities (e.g. open-ended and closed-ended real estate funds) as well as profits from subsidiaries CPB Immobilientreuhand, IMV, CPB Immobilien KAG, Constantia Immobilien Development and CREDO. |
