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.