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21st Austria weekly - Immofinanz, UBM (13/04/2019)

14.04.2019

Immofinanz: Austrian real estate company Immofinanz significantly strengthened its earning power during the 2018 financial year: Results of operations rose by 42.3% to Euro 153.1 mn (2017: Euro 107.6 mn), and sustainable FFO 1 (before tax) from the standing investment business more than doubled to Euro 85.0 mn (2017: Euro 36.9 mn). Net profit turned positive with a significant increase to Euro 217.5 mn, following a previous year that was negatively influenced, above all, by the sale of the Russian portfolio (2017: Euro -537.1 mn). “We have a clearly defined portfolio with record occupancy of 95.8% and made our business even more efficient through cost reductions – our balance sheet is robust with a comfortable liquidity buffer and comparatively low level of debt. The investment grade rating received in January 2019 underscores Immofinanz’s excellent credit standing and gives us fast and flexible access to liquidity on the international Eurobond market. The past financial year made Immofinanz a significantly stronger player on the European commercial real estate market“, commented Oliver Schumy, CEO of Immofinanz. The annual general meeting on 22 May 2019 will be asked to approve a dividend of 85 cents per share for the 2018 financial year (previous year: 70 cents). That represents a dividend yield of 4.1% (based on the closing price on 28 December 2018) and 3.8% (based on the closing price on 29 March 2019). The guidance is confirmed for FFO 1 of more than Euro 100 mn in the 2019 financial year. Further acquisitions are under evaluation for the office portfolio, for example in the capital cities of Warsaw, Prague and Budapest, the company said.
Immofinanz: weekly performance: 4.32%

UBM: Austrian based hotel developer UBM Development generated growth of over 20% in Total Output to Euro 897.7 mn in 2018. This increase was supported, in particular, by higher revenue from property sales, which reached a record volume of Euro 659.1 mn. The highlights for the year included, above all, the large-scale Leuchtenbergring hotel and office project in Munich, the Zalando headquarters in Berlin and the Office Provider project in Vienna. EBT also set a new record with a year-on-year increase of more than 10% to Euro 55.5 mn. Net profit for 2018 amounted to Euro 39.5 mn. Earnings per share rose substantially from Euro 4.88 in 2017 to Euro 5.31. UBM invested a record volume of approximately Euro 300 mn alone in new projects during 2018, which will provide for future earnings. Investments amounted to Euro 530 mn in total during the past year. According to UBM, demand on the European real estate market is expected to remain strong in 2019 and the following years due to the continuing low-interest environment. There is a growing shortage of products in all of UBM’s asset classes and core markets, but the demand remains unbroken, the company stated. The company aims to pay a dividend in the amount of Euro 2.20 per share (vs. 2.00 Euro for 2017).
UBM: weekly performance: 0.26%

(From the 21st Austria weekly https://www.boerse-social.com/21staustria (13/04/2019)


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21st Austria weekly - Immofinanz, UBM (13/04/2019)


14.04.2019


Immofinanz: Austrian real estate company Immofinanz significantly strengthened its earning power during the 2018 financial year: Results of operations rose by 42.3% to Euro 153.1 mn (2017: Euro 107.6 mn), and sustainable FFO 1 (before tax) from the standing investment business more than doubled to Euro 85.0 mn (2017: Euro 36.9 mn). Net profit turned positive with a significant increase to Euro 217.5 mn, following a previous year that was negatively influenced, above all, by the sale of the Russian portfolio (2017: Euro -537.1 mn). “We have a clearly defined portfolio with record occupancy of 95.8% and made our business even more efficient through cost reductions – our balance sheet is robust with a comfortable liquidity buffer and comparatively low level of debt. The investment grade rating received in January 2019 underscores Immofinanz’s excellent credit standing and gives us fast and flexible access to liquidity on the international Eurobond market. The past financial year made Immofinanz a significantly stronger player on the European commercial real estate market“, commented Oliver Schumy, CEO of Immofinanz. The annual general meeting on 22 May 2019 will be asked to approve a dividend of 85 cents per share for the 2018 financial year (previous year: 70 cents). That represents a dividend yield of 4.1% (based on the closing price on 28 December 2018) and 3.8% (based on the closing price on 29 March 2019). The guidance is confirmed for FFO 1 of more than Euro 100 mn in the 2019 financial year. Further acquisitions are under evaluation for the office portfolio, for example in the capital cities of Warsaw, Prague and Budapest, the company said.
Immofinanz: weekly performance: 4.32%

UBM: Austrian based hotel developer UBM Development generated growth of over 20% in Total Output to Euro 897.7 mn in 2018. This increase was supported, in particular, by higher revenue from property sales, which reached a record volume of Euro 659.1 mn. The highlights for the year included, above all, the large-scale Leuchtenbergring hotel and office project in Munich, the Zalando headquarters in Berlin and the Office Provider project in Vienna. EBT also set a new record with a year-on-year increase of more than 10% to Euro 55.5 mn. Net profit for 2018 amounted to Euro 39.5 mn. Earnings per share rose substantially from Euro 4.88 in 2017 to Euro 5.31. UBM invested a record volume of approximately Euro 300 mn alone in new projects during 2018, which will provide for future earnings. Investments amounted to Euro 530 mn in total during the past year. According to UBM, demand on the European real estate market is expected to remain strong in 2019 and the following years due to the continuing low-interest environment. There is a growing shortage of products in all of UBM’s asset classes and core markets, but the demand remains unbroken, the company stated. The company aims to pay a dividend in the amount of Euro 2.20 per share (vs. 2.00 Euro for 2017).
UBM: weekly performance: 0.26%

(From the 21st Austria weekly https://www.boerse-social.com/21staustria (13/04/2019)


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