IMMOFINANZ Reports Strong Developments in Q1 2024

IMMOFINANZ AG demonstrated robust growth in the first quarter of 2024. Rental income saw an increase of 11.5%, reaching EUR 143.2 million. The company's asset management results improved by 14.3%, totaling EUR 120.0 million, while operational results rose by 26.4%, hitting EUR 104.3 million.

Earnings before taxes (EBT) doubled to EUR 71.3 million and the net profit stood at EUR 49.7 million, more than twice that of the same quarter in 2023. Cash reserves remained high at EUR 639.5 million, with a strong equity ratio of 48.5% and net loan-to-value ratio of 41.5%.

The high occupancy rate of 92.1% was supported by strategic property sales and acquisitions, including a notable sale in Vienna for over EUR 150 million. Despite challenging market conditions, IMMOFINANZ continues to exhibit financial resilience and a strategic investment approach.