Immofinanz posts net profit of 217.5 million Euro in 2018, plans to increase dividend per share

Immofinanz strengthened its earning power during the 2018 financial year: Results of operations rose by 42.3 percent to 153.1 million Euro (2017: 107.6 million Euro). Net profit turned positive with a significant increase to 217.5 million Euro, following a previous year that was negatively influenced, above all, by the sale of the Russian portfolio (2017: -537.1 million Euro).

“We have a clearly defined portfolio with record occupancy of 95.8 percent and made our business even more efficient through cost reductions – our balance sheet is robust with a comfortable liquidity buffer and comparatively low level of debt. The past financial year made Immofinanz a significantly stronger player on the European commercial real estate market“, said Oliver Schumy, CEO of Immofinanz.

The real estate portfolio covered 226 properties with a carrying amount of 4.3 billion Euro as of 31 December 2018. Most of these properties – roughly 86 percent or 3.7 billion Euro – are standing investments. The occupancy rate rose to a record level of 95.8 percent at the end of December (31 December 2017: 94.2 percent).