IMMOFINANZ Immobilien Anlagen AG continued its impressive track record into the 2005/06 fiscal year (31st May to 31st October 2005). Profits increased strongly, corporate growth was accelerated and the company's real estate portfolio diversified.

These results confirm IMMOFINANZ's position as the leading real estate enterprise in Austria and consolidate its position as one of Europe's leading real estate enterprises. Turnover figures were a particular source of pride, with turnover increasing by around 190 percent from 62.9 million Euro to 182.3 million Euro.

The operating profit (EBIT), rose by 153.3 percent to 197.6 million Euro, and earnings before tax [EBT] rose to 185.7 million Euro, up 132.4 percent compared to the first half of the 2004/05 fiscal year. Consolidated results increased by 89.3 percent to 113.4 million Euro, almost double the figure for the previous year. Cash flow was more than doubled compared to 2004/05 at 59.1 million Euro.

The development of the company's portfolio has been just as impressive as the financial figures. The number of real estate holdings increased from 924 to 1818 properties since 31 October, almost doubling in number. Total floor space increased by 64.3 percent to 5.807 million m². The fair value of the company's real estate assets also increased by a comparable amount, up 61.8 percent to 5.624 billion Euro. At 845 million Euro, the level of investment was similar to the same period in the 2004/05 fiscal year, which included the huge acquisition of BUWOG.

The first half of the 2005/06 business year also included the largest increase in capital stock in the history of IMMOFINANZ, providing the company with liquid assets worth a total of 579 million Euro. This resulted in a further increase in equity ratio, which recently reached 60.2 percent. This allows IMMOFINANZ to engage in further large-scale investments without risk of falling under the 50 percent mark, which is the company's long term target figure.