S IMMO AG: Preliminary results for 2016 and outlook
Disclosed inside information pursuant to article 17 Market Abuse Regulation (MAR)
Not yet audited, preliminary IFRS results of S IMMO AG for the financial year 2016 show an EBIT of approximately EUR 278m (2015: EUR 165.7m) and a consolidated net income of about EUR 200m (2015: EUR 77.2m). Thus, S IMMO will achieve the best results in its history. Based on these record results, EPRA NAV per share as at 31 December 2016 will rise to about EUR 14.6 and book value per share as at 31 December 2016 will rise to about EUR 12.
These excellent results are attributable also to the successful disposal of a part of the German residential portfolio. Currently, S IMMO explores further opportunities to dispose of larger objects, including those in Viertel Zwei in Vienna. Due to the high price levels in many real estate markets, the proceeds from past and future property disposals will preferably be invested in developments and in shares of real estate companies that significantly trade below NAV – currently of Immofinanz AG and CA Immobilien Anlagen AG. Acquisitions of properties will further on mainly take place in Germany.
The annual financial report for 2016 will be published on 05 April 2017.