For IMMOFINANZ Immobilien Anlagen AG the 2004/2005 fiscal year continued the company's years of successful performance. Growth rates during the year were considerably higher than in the preceding period and all important earnings and key growth figures reached new record levels.
Operating profit (EBIT) virtually tripled, increasing 197% from 104.1 million to 309.2 million. Earnings before tax (EBT) rose even more considerably to 286.2 million, up from 93.4 million. A significant increase in consolidated result was likewise achieved, reaching 206.3 million, up from 62.9 million. Improvement of the earnings situation was also reflected in a notably higher return on equity (ROE), which at 13.4% was more than double last year's rate of 6.4%.
The company's growth was quite remarkable as well: revenues climbed 125% from 102 million to 229.6 million.
The real estate portfolio hurdled past a couple of striking marks in the 2004/2005 fiscal year. The number of properties rose from 315 more than threefold to 1114. Here the acquisition of BUWOG and the Forstinger portfolio especially paid off, adding a large number of medium-size properties. Total lettable space increased from 1.69 million m² to 4.09 million m². Fair value of the portfolio nearly doubled to 4.37 billion.
Thanks to the excellent business development in the 2005/2006 fiscal year, IMMOFINANZ expanded its position even further as market leader among listed companies in Austria. By international comparison as well, the company consolidated its position among the unequivocal elite group of real estate companies in continental Europe, reaching fifth place in terms of market capitalisation as of 29 July 2005. On the most important European property share index, the GPR 15, in which IMMOFINANZ is the only Austrian company represented, the company is now the third highest-weighted continental European real estate company at 7.2%.