Value analysis of German and Austrian properties as of 30 April 2021 indicates significant value increase
Due to the developments in the group's markets, the Management Board of listed S IMMO AG (Bloomberg: SPI:AV, Reuters: SIAG.VI; ISIN: AT0000652250) has, against the background of the announced voluntary takeover bid by IMMOFINANZ AG, carried out a value analysis of the German and Austrian property portfolio as of 30 April 2021 with the involvement of an independent external appraiser. Based on this analysis an increase in value of approximately EUR 85m is expected for the properties located in Germany and Austria as of that date compared to 31 December 2021. The value increase is largely attributable to Germany and primarily based on the changes of legal conditions, the continuing dynamic market environment and progress in projects. Subject to the further development up to 30 June 2021, this value increase will have a corresponding impact on the results from property valuation for the second quarter of 2021.