Significant upward revaluation of property portfolio expected as of 30 June 2019
Based on preliminary revaluation results of external appraisers, S IMMO AG’s Management Board expects positive effects on the real estate portfolio in the amount of roughly EUR 120m as of 30 June 2019, mainly attributable to properties in Germany. As a result, EPRA NAV per share is expected to increase to slightly below EUR 24 as of 30 June 2019.
CEO Ernst Vejdovszky comments: “The increase in value of our properties is to a considerable extent attributable to achieved rental increases. It is thereby another impressive proof of our operational strength and the appreciation potential of our properties. The main part of the revaluation uplift derives – despite considering the current uncertainties on the residential market in Berlin – from Germany, and demonstrates the profitability of our acquisition policy there. We are very satisfied with the development of our real estate portfolio and are looking very optimistically ahead for the upcoming quarters.”
The final half-year results will be published on 27 August 2019.