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Immofinanz's funds from operations rise to 11 mln euros without Russia portfolio
May 29, 2017 / 4:25 PM / 4 months ago

Immofinanz's funds from operations rise to 11 mln euros without Russia portfolio

VIENNA, May 29 (Reuters) - Austrian property group Immofinanz’s first-quarter funds from operations (FFO I), stripping out its ailing Russian portfolio, rose to 10.6 million euros ($12 million), up from 2.5 million a year ago, it said on Monday.

Immofinanz reiterated that it aims by the end of this year to have sold or spun off its Russian portfolio, which has weighed on its results for years, - a deadline that, if missed, could jeopardise Immofinanz’s planned merger with CA Immo .

Immofinanz gave no further details on the future of its five shopping centres in Moscow after saying in March it would invite around 25 “pre-qualified” parties which have expressed an interest. ($1 = 0.8946 euros) (Reporting By Shadia Nasralla; Editing by Greg Mahlich)

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