Immofinanz Q1 FFO At Eur 69.7 Million
May 27 (Reuters) -IMMOFINANZ AG IMFI.VI:
IMMOFINANZ WITH STRONG DEVELOPMENT IN THE FIRST QUARTER OF 2024
IMMOFINANZ OPERATIONS RESULT JUMPS 26.4% TO EUR 104.3M
CASH AND CASH EQUIVALENTS WERE AT HIGH LEVEL OF EUR 639.5 MILLION
EBT (EUR 71.3 MILLION) AND NET PROFIT (EUR 49.7 MILLION) MORE THAN DOUBLED
FFO 1 WAS 23.5% HIGHER AT EUR 69.7 MILLION
ROBUST FINANCIAL BASIS WITH EQUITY RATIO OF 48.5% AND NET LTV OF 41.5%
LIKE-FOR-LIKE RENTAL INCOME EQUALLED 6.4%
EXPERTS EXPECT A CONTINUATION OF CHALLENGING MARKET ENVIRONMENT IN 2024 DUE TO CURRENT MACROECONOMIC AND GEOPOLITICAL SITUATION
WELL POSITIONED TO CONTINUE ITS GROWTH COURSE OVER MEDIUM- TO LONG-TERM
REVALUATIONS (INCLUDING PROPERTY DEVELOPMENT AND PROPERTY SALES) TOTALLED EUR -9.9 MILLION, COMPARED WITH EUR -9.1 MILLION IN Q1 OF 2023
Source text for Eikon: ID:nEQ8LMJGsa
Further company coverage: IMFI.VI
(Gdansk Newsroom)
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