01.09.2024, 2104 Zeichen

Immofinanz: Austrian based real estate company IMMOFINANZ Group delivered very good results for the first six months of 2024. Rental income reached a high level of EUR 292.5 million (+13.0%). The results of asset management increased by 15.2% over the previous year to EUR 249.8 million, and the results of operations improved by a strong 88.0% to EUR 221.9 million. FFO 1 after tax was 46.6% higher at EUR 149.9 million. Revaluations (including property development and property sales) totalled EUR -81,6 million, compared with EUR -197.2 million in the first half of 2023, as valuation declines were limited due to a more stable interest rate environment. et profit for IMMOFINANZ Group rose from EUR -144.5 million in the first half of the previous year to EUR 43.0 million, and earnings per share increased to EUR 0.19 (Q1-2 2023: EUR -0.59).
Immofinanz: weekly performance: 2.44%

UBM: Real estate developer UBM generated €75m of cash by the end of the first half-year with the sale of non-strategic assets. Liquidity totalled €179m as of 30 June, which is more than €50m over the end of the first quarter and also above the end of 2023. The strong focus on cash management also dispelled any doubts over sufficient liquidity in the first half of 2024. Cash and cash equivalents totalled €179.4m as of 30 June 2024. No bond repayments are scheduled until November 2025, which creates a competitive advantage over other market players. Net debt was reduced during the first half year and equalled €550.0m as of 30 June 2024 (2023: €610.2m). Based on total assets of €1,188.8m, the equity ratio equalled 30.4%. EBT improved from €-31.6m in the previous year to €-10.9m and, with net profit of €-12.5m (H1/23: €-29.3m), the loss was substantially lower than the first half of 2023. Despite a weak third quarter, UBM expects a significant reduction of the year-on-year loss in 2024 with the protection of liquidity still having priority. A return to the profit zone is expected in 2025.
UBM: weekly performance: 0.00%

(From the 21st Austria weekly https://www.boerse-social.com/21staustria (29/08/2024)

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