In the first quarter of the 2005/2006 fiscal year IMMOFINANZ Immobilien Anlagen AG managed to outperform even the excellent results from the 2004/05 financial year, when it achieved record profits. Earnings rose significantly, while the successful course of diversification and growth was continued.
EBIT increased by 140.6 percent to €72.9 million. EBT also went up appreciably from €36.4 to €67.3 million, while the consolidated result totalled €54.7 million, up from €29.6 million in the comparable period the year before.
Growth figures were similarly strong. Revenues surged 163.3 percent to €81.9 million while a significant increase to substantially more than 300 million euro is anticipated for the overall year (2004/2005 €229.6 million) as well. Growth in real estate assets was also highly impressive, increasing 117.5 percent. At €5.006 billion, fair market value exceeded yet another significant marker. The number of properties rose from 338 at the end of the first quarter of 2004/2005 to 1,189. Lettable space increased by 152.7 percent to 4.626 million m². During the reporting period investments totalling 397.1 million euro were made in the real estate portfolio. This is equal to growth of 150 percent compared to the same period the year before.
The development of key stock exchange figures was also highly satisfactory. Profit per share rose by 40 percent to 0.14 euro. Market capitalization increased from €1.682 billion to €2.544 billion as a result of the capital increase and a considerable rise of the share price.
The positive business development has also paid off for IMMOFINANZ shareholders. The year-on-year performance was 19.52 percent after tax. This corresponds to a pre-tax return of 26.03 percent for an investment subject to withholding tax (KESt). Investors who subscribed to the capital increase in May were particularly successful, obtaining a 15.58 percent profit so far.
The substantial increase in trading activity with the IMMOFINANZ share was extremely remarkable. In the first quarter of 2005/2006 €1.2 billion worth of shares were traded, more than in the overall 2004/2005 financial year.