31.03.2016, 8085 Zeichen





Corporate news transmitted by euro adhoc. The issuer/originator is solely responsible for the content of this announcement.
annual result
Preliminary results for S IMMO AG: Record profit in 2015
· Earnings per share up from EUR 0.46 to EUR 1.17
· EBIT improved by roughly 20% · EBT nearly doubled to EUR 112m · Net income increased to EUR 77.2m


The stock exchange listed real estate investment company S IMMO AG (Bloomberg: SPI:AV, Reuters: SIAG.VI) has once again achieved a significant increase in its annual results, thus exceeding the goals it set for the financial year 2015. The primary contributors to this success were the positive developments in Germany and the substantial reduction of financing costs.
Ernst Vejdovszky, CEO of S IMMO AG: "These results clearly show that our strategy is paying off. We are benefiting from cycles and are able to quickly use market conditions to our advantage. Securing the low interest rate level was a major step towards ensuring a favourable environment for ourselves in the coming years. Against this backdrop, I am very optimistic for the coming quarters."
Rental income and gross profit In 2015, S IMMO AG's total revenues amounted to EUR 190.7m (2014: EUR 188.5m), slightly higher than the prior-year figure. The rental income included in this figure was on target at EUR 111.7m (2014: EUR 111.8m). Revenues from hotel operations improved to EUR 45.5m (2014: EUR 42.1m). Higher room occupancy and an increase in room rates contributed to this positive development. Gross profit for the financial year totalled EUR 105.2m (2014: EUR 105.7m). EBITDA for the financial year 2015 came to EUR 88.7m (2014: EUR 89.8m).
Positive valuation results As expected, valuation gains developed very positively, amounting to EUR 84.6m as at 31 December 2015 (2014: EUR 56.6m). This was largely due to the asset management activities aimed at raising the value of the properties along with the steadily improving sentiment in S IMMO's markets. EUR 73.1m (2014: EUR 33.4m) of this amount can be attributed to Germany alone.
Thanks to this positive development, S IMMO was able to boost EBIT by 19.4% to EUR 165.7m (2014: EUR 138.7m).
Significant improvement in financing result The financing result including the participating certificate result totalled EUR -53.4m as at 31 December 2015 (2014: EUR -79.2m). This significant improvement can be attributed to lower interest payments due to newly concluded interest rate hedging instruments and a better foreign currency result compared to the prior year.
Annual result improves once again As a result, EBT came in at EUR 112.3m (2014: EUR 59.5m), an increase of 88.6% over the previous year. On balance, S IMMO ended the financial year 2015 with net income of EUR 77.2m (2014: EUR 33.8m). Earnings per share also improved significantly and came to EUR 1.17 (2014: EUR 0.46).
Outlook The company plans to further improve its FFO (Funds from Operations) during the financial year 2016. The positive trend on the German real estate market will persist and this will likely continue to be reflected in the valuation results for properties in Germany this year. Therefore, S IMMO expects additional value increases in its portfolio.
In terms of investments, S IMMO sees the greatest potential in Berlin, especially for commercial properties offering development opportunities. In Vienna, S IMMO is involved in office development projects at Vienna Central Station. Construction is expected to start on one of these projects this spring. In addition, various activities have been launched in Bucharest.
Friedrich Wachernig, Member of S IMMO AG's Management Board, comments: "We are especially pleased that the ongoing recovery in Bucharest has reached a point that also makes us optimistic with regards to our development projects. We will soon start on the development of the office property The Mark and are expanding our Sun Plaza shopping centre. Along with Vienna, there are several exciting projects in the pipeline in Berlin as well."
Please note the changes to our financial calendar:
________________________________________________________________________
|Publication_of_the_annual_results_for_2015__|Thu.,_28_April_2016________| |Record_date_Annual_General_Meeting__________|Tue.,_24_May_2016__________| |Results for the first quarter of 2016 |Tue., 24 May 2016 | |____________________________________________|(previously_31_May_2016)___| |Annual_General_Meeting______________________|Fri.,_03_June_2016_________| |Dividend_ex-date____________________________|Wed.,_08_June_2016_________| |Record_date_for_dividend____________________|Thu.,_09_June_2016_________| |Dividend_payment_date_______________________|Fri.,_10_June_2016_________| |Results for the first half-year of 2016 |Thu., 25 August 2016 | |____________________________________________|(previously_31_August_2016)| |Results_for_the_first_three_quarters_of_2016|Tue.,_29_November_2016_____|


S IMMO AG As Austria's first stock exchange listed real estate investment company, S IMMO AG has stood for experience, a balanced portfolio, and sustainable growth since 1987. The company invests in four property use types (residential, office, hotel, and retail properties) in four regions (Austria, Germany, and Central and Southeastern Europe). S IMMO AG's strategic core shareholders are Erste Group and Vienna Insurance Group.
Preliminary consolidated income statement according to IFRS for the period 01
January 2015-31 December 2015 in EUR m


01-12/2015 01-12/2014
Revenues 190.7 188.5 thereof rental income 111.7 111.8 thereof revenues from operating costs 33.5 34.5 thereof revenues from hotel operations 45.5 42.1 Other operating income 3.5 4.7 Expenses directly attributable to properties -55.8 -56.2 Hotel operating expenses -33.2 -31.3 Gross profit 105.2 105.7 Income from property disposals 15.9 51.6 Book value of disposed properties -15.9 -51.4 Gains or losses on property disposals 0 0.2 Management expenses -16.5 -16.1 EBITDA 88.7 89.8 Depreciation and amortisation -7.7 -7.6 Results on property valuation 84.6 56.6 Operating result (EBIT) 165.7 138.7 Financing result -48.9 -71.7 Participating certificates result -4.6 -7.5 Net income before tax (EBT) 112.3 59.5 Taxes on income -35.0 -25.7 Consolidated net income 77.2 33.8

thereof attributable to shareholders in parent company 78.2 31.0 thereof attributable to non-controlling interests -1.0 2.8
Earnings per share (in EUR) 1.17 0.46
Key data on properties 31 December 2015 Portfolio properties Number 221 Total useable space millions of m2 1.2 Gross rental yield % 6.7 Occupancy rate % 92.7


end of announcement euro adhoc
company: S IMMO AG Friedrichstraße 10 A-1010 Wien phone: +43(0)50100-27550 FAX: +43(0)050100-927559 mail: office@simmoag.at WWW: www.simmoag.at sector: Real Estate ISIN: AT0000652250 indexes: ATX Prime, IATX stockmarkets: official market: Wien language: English

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