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Results for the 2017 Financial Year

Results for the 2017 Financial Year

Press Release, Presentation of the Results, Annual Report

Press release

IMMOFINANZ net profit from continuing operations turns strongly positive at EUR 181 million

Net profit from continuing operations (i.e. excluding Russia) returned to the profit zone with a significant improvement to EUR 181.0 million in 2017 (2016*: EUR -147.4 million). That represents earnings per share of EUR 0.17 (2016*: EUR -0.15). Rental income was slightly higher at EUR 234.5 million (2016*: EUR 233.4 million) despite the continuing sale of properties which do not fit in with the corporate strategy. After an adjustment for new acquisitions, completions and sales (like-for-like), rental income grew by a sound 4.5% to EUR 200.0 million (annualised). The results of Asset Management rose by 13.4% to EUR 150.8 million. In total, the results of operations increased by 44.4% to EUR 107.6 million (2016*: EUR 74.5 million). Financial results turned substantially positive at EUR 88.8 million (2016*: EUR -107.6 million), above all due to positive valuation effects from the investments in CA Immo and BUWOG and a reduction in financing costs.

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