21st Austria weekly - Immofinanz (30/11/2021)

Immofinanz: Austrian based real estate company Immofinanz delivered strong results for the first three quarters of 2021. Results of operations increased by 59.5% to Euro 180.4 min. Results from the revaluation of standing investments equalled Euro 54.0 million, compared with Euro -144.8 min in the first three quarters of 2020. Immofinanz generated net profit of Euro 295.7 mn in the first three quarters of 2021 (Q1-3 2020: Euro -98.3 mn). FFO 1, which does not include revaluation results, basically reflected the previous year at Euro 90.7 mn (Q1–3 2020: Euro 93.6 mn). This slight decline is attributable, above all, to an increase in financing costs as a result of the higher financing volume.  Dietmar Reindl, COO of Immofinanz. “Based on our very good market position, we are planning to expand the portfolio with our STOP SHOP and myhive brands from the current volume of Euro 5 bn to roughly Euro 6 bn in 2022.“ Stefan Schönauer, CFO of Immofinanz: “This growth, the further development of the portfolio and our solid financial structure represent a strong foundation for future FFO growth and our sustainable dividend policy. For the coming 2022 financial year, we expect FFO 1 before tax of more than EUR 135 million – assuming hopefully moderate COVID-19 effects – and we want to distribute roughly 70% of FFO 1 as dividends to our shareholders.“
Immofinanz: weekly performance: 4.30%

(From the 21st Austria weekly https://www.boerse-social.com/21staustria (30/11/2021)

Christian Drastil: Wiener Börse Plausch

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1. Immofinanz - Like-for-like-Mieterlöse mit leichtem Rückgang

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