– Strong Group results with profit of EUR 345.8 million
– Sound performance in all income streams leads to 46% increase in results of operations to EUR 210.1 million
– Occupancy rate remains high at 95.1%
– EPRA NTA per share improves by 5% to EUR 29.2, book value by 9% to EUR 27.4
– Strong balance sheet with equity ratio of 48.1% and liquid funds of EUR 987.1 million
– Value-creating growth strategy with steady focus on ESG along the entire value chain and expansion into sustainable and affordable housing
– Selected by UN to participate in the World Climate Summit 2022 as one of 45 companies worldwide
The 2021 financial year brought a massive increase in IMMOFINANZ’s earning power: The results of operations rose by roughly 46% to EUR 210.1 million and clearly topped the previous year as well as the pre-crisis period in 2019. Net profit improved significantly to EUR 345.8 million, compared with the crisis-related loss of EUR -165.9 million in the previous year.
IMMOFINANZ successfully implemented its value-creating growth strategy in 2021, even though the markets were still negatively influenced by the Covid-19 pandemic. The results of operations rose by 45.9% to EUR 210.1 million. The company realised an increase in the results of asset management and a significant improvement in the earnings from property sales and property development as well as cost savings. The pandemic-related revaluation losses recognised to property in the previous year were in part recovered. Revaluation results from the standing investment portfolio totalled EUR 85.9 million, compared with EUR -156.6 million in the previous year. Financial results improved to EUR 90.4 million due to a substantial increase in the profit from investments. In total, IMMOFINANZ generated net profit of EUR 345.8 million, compared with EUR -165.9 million in the previous year. That represents diluted earnings per share of EUR 2.6 (2020: EUR -1.5).
“2021 was an eventful and, at the same time, a very successful financial year. Our portfolio is optimally positioned: With our mix of low-cost retail solutions for consumers and high-quality, innovative and flexible office products, we meet the demands of our tenants as well as their customers and employees. We intend to extend our strong market position in 2022 and grow with our STOP SHOP and myhive brands – and drive the portfolio expansion towards sustainable and affordable housing with our new brand On Top Living“, explained Dietmar Reindl, member of the Executive Board of IMMOFINANZ. “The improvement of our sustainability performance is also a key priority. With our ESG strategy, we have set ambitious goals along the entire value chain to make IMMOFINANZ emission-free by 2040. This illustrates and underscores our responsibility for people and the environment, and we want to actively support the fight against climate change in our industry. In this connection, we are especially pleased that IMMOFINANZ was chosen as one of 45 companies worldwide to participate in the United Nation‘s World Climate Summit at Sharm El-Sheikh in November 2022 where we can share our innovations and sustainable activities and inspire other companies throughout the world.“
Stefan Schönauer, member of the Executive Board of IMMOFINANZ: “A strong balance sheet, solid financing structure and stable investment grade rating are the foundation for our value-creating, sustainable growth. Our equity ratio improved to roughly 48% during the course of the year and gearing – based on the net loan-to-value – is conservative at 36.7%. Over and above that, we have nearly one billion euros of liquid funds. In other words, we have a sound foundation for further growth and the flexibility for possible debt repayment. Almost 90% of our financial liabilities are hedged against rising interest rates – an important point in today’s very volatile environment.”
