28.04.2016,
8682 Zeichen
Corporate news transmitted by euro adhoc. The issuer/originator is solely
responsible for the content of this announcement.
annual result
S IMMO AG: Record result leads to dividend increase
· Dividend expected to be raised to EUR 0.30 · EBT up 88% · Net income more
than doubled to EUR 77.2m · EPRA NAV advances to EUR 11.75
Stock exchange listed S IMMO AG (Bloomberg: SPI:AV, Reuters: SIAG.VI) has
confirmed the preliminary figures released on 31 March 2016. The company once
again delivered a record result in the 2015 financial year - net income more
than doubled, coming in at EUR 77.2m. Ernst Vejdovszky, CEO of S IMMO AG,
comments: "The positive development on the German real estate market played a
key role in this success. In addition, the consistent reduction of our
financing costs also had a very positive impact. Based on these results, we
will propose a dividend distribution of EUR 0.30 at the Annual General
Meeting."
Friedrich Wachernig, member of S IMMO AG's Management Board, adds: "It is our
stated goal to continue on a course of profitable growth and increase the
company's net worth for our shareholders over the long run. In the 2016
financial year, we expect to see a further improvement in FFO, which in
simplified terms represents cash flow after interest."
Development of gross profit S IMMO generated rental income of EUR 111.7m in
2015 (2014: EUR 111.8m). The sales completed over the past two years have
naturally led to a reduction of rental income in annual comparison. Revenues
from hotel operations (Vienna Marriott and Budapest Marriott Hotel) improved to
EUR 45.5m (2014: EUR 42.1m). Higher room occupancy and an increase in room
rates contributed to this positive development. As a result, S IMMO's total
revenues amounted to EUR 190.7m in 2015, slightly higher than in the previous
year (2014: EUR 188.5m). Gross profit totalled EUR 105.2m (2014: EUR 105.7m).
Acquisitions in Germany In the 2015 financial year, S IMMO sold six properties
in Germany and Austria with a total book value of EUR 45.9m (2014: EUR 51.6m).
At the same time, S IMMO bought 24 properties in Germany and one property in
Vienna at a total purchasing price of EUR 140.5m during the reporting period.
EBIT increases thanks to very strong revaluation gains EBITDA for the 2015
financial year came to EUR 88.7m (2014: EUR 89.8m). Revaluation gains developed
very positively in 2015, amounting to EUR 84.6m as at 31 December 2015 (2014:
EUR 56.6m). This was due to both the asset management activities aimed at
raising the value of the properties and the steadily improving sentiment on the
German real estate market. Properties in Germany accounted for EUR 73.1m (2014:
EUR 33.4m) of the revaluation gains. As a result, EBIT improved to EUR 165.7m
(2014: EUR 138.7m), an increase of 19.4%.
Improvement in financing result The financing result including the
participating certificate result amounted to EUR -53.4m as at 31 December 2015
(2014: EUR -79.2m). This significant improvement can be attributed to, among
other factors, the improved results from derivatives, lower interest payments,
and a better foreign currency result compared with the prior year.
Net income at record level Consequently, 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 2015 financial year with a 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).
Success on the capital market The S IMMO share had an outstanding year in 2015:
On 31 December, the share was listed at EUR 8.20, an increase of 32.90%. Adding
the distributed dividend of EUR 0.24 to the closing price results in a
performance of 36.79%. The ATX delivered annual performance of 11.16%, while
the industry index IATX gained 17.59%. Consequently, the S IMMO share
significantly outperformed both indices.
The Management Board feels that the further improvement in the business results
justifies an increase in the dividend. Therefore, a proposal to raise the
dividend to EUR 0.30 per share will be submitted to the Annual General Meeting
on 03 June 2016. The positioning of the S IMMO share as a sustainable dividend-
paying stock is in line with the company's long-term strategy.
Outlook for 2016 In the 2016 financial year, S IMMO expects to see a further
improvement in FFO (funds from operations) compared with 2015. The company
expects to achieve value enhancements in the existing portfolio once again in
2016 through targeted asset management, successful letting, refurbishment
measures, and positive developments in some of our core markets, particularly
in Berlin. In terms of investments, S IMMO sees the greatest potential in
Germany, especially for office properties and plots of land offering
development opportunities. The company is evaluating rezoning measures,
refurbishment projects, and the development of spaces on plots of land already
in the portfolio.
In Vienna, the company is involved in office development projects at Vienna
Central Station. Construction will start on one of these projects this spring.
In addition, construction will start on the office project The Mark in the
heart of Bucharest's main business district. The renovation of Sun Plaza
shopping centre has also already begun in Bucharest. According to Ernst
Vejdovszky, "Overall, we expect 2016 to be a good year - for the real estate
industry in general and for S IMMO in particular."
S IMMO AG As Austria's first stock exchange listed real estate investment
company, S IMMO AG has stood for expertise, a strong portfolio, and profitable
growth since 1987. The company invests in commercial property (office, retail,
and hotel) as well as residential property in four regions (Austria, Germany,
and Central and Southeastern Europe). S IMMO AG's strategic core shareholders
are Erste Group and Vienna Insurance Group.
Consolidated income statement for the period 01 January 2015-31 December 2015
in EUR m / fair value method
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
Results before tax,property valuation,
depreciation and amortisation, and
financing result (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 1.17 0.46 EUR)
Key data on properties 31 December 2015
Portfolio properties Number 222
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
Digital press kit:
http://www.ots.at/pressemappe/3109/aom
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S Immo
Akt. Indikation: 17.25 / 17.35
Uhrzeit: 11:00:32
Veränderung zu letztem SK: 0.29%
Letzter SK: 17.25 ( 0.29%)
Bildnachweis
1.
UBM Tochter Strauss & Partnew und S Immo übernehmen das gesamte Quartier Belvedere Central , Seite 1/2, komplettes Dokument unter http://boerse-social.com/static/uploads/file_495_ubm_tochter_strauss_
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