IMMOFINANZ Reports Solid Operating Performance in First Three Quarters of 2024

IMMOFINANZ AG has reported strong operating performance for the first three quarters of 2024, showcasing growth across key financial indicators. The company experienced an 11.9% rise in rental income, reaching EUR 435.6 million. Asset management results also increased by 14% to EUR 368.9 million, while operations rose significantly by 54.1% to EUR 322.3 million. FFO 1 after tax climbed 24.8% to EUR 230.9 million.

The company achieved a net profit of EUR 50.9 million, reflecting positive financial health. Despite volatile markets, IMMOFINANZ maintained a robust balance sheet with a 42.2% equity ratio and cash reserves of EUR 613.9 million. Its property portfolio, valued at approximately EUR 8 billion, remained stable with a 92.2% occupancy rate.

IMMOFINANZ continues optimizing its portfolio by acquiring new properties and expanding its retail footprint. The group plans to sustain growth focusing on retail portfolio expansion and closer integration with its majority shareholder, CPI Property Group.