TAG Immobilien AG Exceeds 2024 Financial Guidance

TAG Immobilien AG has reported that its net income from sales in Poland and FFO II significantly surpassed the projected financial guidance for the fiscal year 2024. Preliminary and unaudited results reveal that adjusted net income from Polish sales reached EUR 66.2 million, exceeding the forecast range of EUR 46-52 million, marking an increase of approximately 35%. FFO II recorded EUR 239.4 million, versus the guidance range of EUR 217-223 million, resulting in a 9% rise.

This growth in adjusted net income is attributed to enhanced selling prices and improved gross profit margins of residential units. Additionally, sales of undeveloped land and elevated interest income from joint ventures contributed to the positive outcome. Final audited results are scheduled for release on March 25, 2025, as part of the annual report.