Oliver Schumy, CEO of IMMOFINANZ, Image: IMMOFINANZ
Investment | Ticker

IMMOFINANZ turns net profit significantly positive with EUR 217.5 million in 2018

IMMOFINANZ significantly strengthened its earning power during the 2018 financial year:

Results of operations rose by 42.3% to EUR 153.1 million (2017: EUR 107.6 million), and sustainable FFO 1 (before tax) from the standing investment business more than doubled to EUR 85.0 million (2017: EUR 36.9 million). Net profit turned positive with a significant increase to EUR 217.5 million, following a previous year that was negatively influenced, above all, by the sale of the Russian portfolio (2017: EUR -537.1 million).

“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, on the company’s successful reorientation.

Source: IMMOFINANZ YouTube

Further details on the results of the 2018 financial year can be found on the company’s website.


Sign up for our ACROSS Newsletter. Subscribe to ACROSS Magazine.

Ticker MORE

Chinatown London Over The Moon as it launches Netflix outdoor experience

On October 21, Shaftesbury launched an exclusive collaboration with Netflix to mark the release of brand-new animated film, Over The Moon on October 23, by unveiling a dazzling outdoor light and lantern installation throughout the streets of Chinatown London.

La Torre Outlet Zaragoza Opening on October 22, 2020

La Torre Outlet Zaragoza opens on October 22, 2020. Its inauguration will take place at 10am, with spectacular opening offers for all visitors. Due to the current health situation and the recommendations given by the Health Authorities, La Torre Outlet, located in the capital of Zaragoza has prepared a phased opening weeks promotion to avoid agglomerations, which will last till mid-November.

New anchor tenant for the new Quarree

In 2021, the off-price company TK Maxx opens a big store at Quarree in Hamburg’s Wandsbek quarter.

Sky to open first retail shop in Liverpool ONE

Grosvenor Europe and Sky have announced that Sky is opening its first ever bricks and mortar retail shop in Liverpool ONE on October 26,2020.

Free Download – Sample Handbook on Hygiene and Safety Measures for Gastronomy and Gym Facilities

The gastronomy sector is one of the most important components for visits to successful shopping destinations. Therefore, the impacts of the pandemic-related regulations are all the more significant for this sector as well as the entire delicate network of functioning retail properties, which are vibrant marketplaces.

Grozny Mall wins “Best Shopping Centre” Award at 2020 Arendator Awards in Moscow

Grozny Mall in Chechnya, southern Russia has been named “Best Shopping Centre” at the 2020 Arendator Awards in Moscow.