Strategy update
24 June 2022
- At a glance
At a glance
A leading European commercial property specialist
Company snapshot
-
Founded in 1990 and headquartered in Vienna, IMMOFINANZ is a leading commercial real estate company with a focus on office (ca. 61% by carrying amount) and retail (c. 37%) in selected countries in Western and Central
Eastern Europe - Amongst the largest European commercial real estate players with strong market position in each of its core markets across a portfolio valued EUR 5.2 bn
- Company's shares have traded on the Vienna Stock Exchange since December 1994
Portfolio property value by country1 | Poland | |||||||||
MEUR 984.1 | ||||||||||
18.8% | ||||||||||
Germany | ||||||||||
MEUR 634.2 | Slovakia | |||||||||
12.1% | ||||||||||
MEUR 327.3 | ||||||||||
Czech Republic | 6.2% | |||||||||
MEUR 564.8 | Romania | |||||||||
10.8% | MEUR 772.5 | |||||||||
Austria | 14.7% |
MEUR 948.9
18.1%
Adriatic region⁴
Key figures as of 03/2022
MEUR | MEUR 72.4 | 94.4% | |
5,242.0 | |||
Net profit | Occupancy rate | ||
Portfolio value | |||
6.2%2 | 32.7% | MEUR 385.0³ | |
Gross return | Net LTV | Cash and cash | |
equivalents | |||
Portfolio segmentation | |||
Office | Retail | Others | |
61% | 37% | 2% | |
Standing | Development Pipe- | ||
investments | projects line |
MEUR 542.2
Hungary
MEUR 458.8
10.3%
8.8%
1 Excludes MEUR 9.4 (0.2%) in further countries (Turkey); 2 5.9% on IFRS rental income; 3 Pro forma liquidity position (excl. cash outflow for bonds repayment); ⁴ Adriatic region includes Serbia, Slovenia, Croatia and Italy | 3 |
At a glance
Update of successful strategy to enhance value
- Well-definedportfolio strategy with crisis-resilient and sustainable real estate solutions
- Robust financial fundament as a strong base for stable cash flow
Strategic diversification by asset classes | Active portfolio management: Asset | |||||||||
Clear brand strategy, focused on | ||||||||||
and regions - active in stable and growing | innovative office and retail solutions and | rotation program to realize valuation | ||||||||
markets | affordable housing with strong customer | gains and streamline the portfolio | ||||||||
orientation | according to the updated strategy | |||||||||
Strong commitment to sustainability | ||||
affects entire range of activities - | Robust financial structure and strong | IMMOFINANZ and CPIPG work together | ||
alignment of ESG targets and reporting | commitment to IG rating support long- | on how both groups benefit from lifting | ||
with CPIPG | ||||
term growth and stable cash flow | synergies | |||
4
At a glance
Selective asset rotation to realize value of mature buildings and invest in higher yielding products
- As the macroeconomic environment is characterized by high inflation and increasing interest rates, IMMOFINANZ considers investments in higher yielding retail and office properties as sustainable long-term investment strategy.
- Plans to divest certain lower yielding properties in order to realize the value of mature buildings or where buildings no longer fit into updated strategy.
- Active portfolio management should ensure properties are not only attractive for tenants, but also in balance with the environment from a social and sustainable perspective.
- Divestments to reach ~EUR 1 billion for reinvestment into assets according to strategy update and repayment of debt.
- In closer integration of the entire CPI group, IMMOFINANZ pursues a retail and office focused strategy; targeted acquisitions will involve properties from CPI matching the strategy.
5
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Immofinanz AG published this content on 24 June 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 June 2022 13:55:01 UTC.