August 22, 2018 / 3:47 PM / 8 months ago

UPDATE 1-CA Immo sticks with guidance after H1 income rise

* FFO 1 up 13 percent to 63 mln eur in H1

* Rental income increased 6 pct to 94 mln eur

* Still expects 2018 FFO 1 of at least 115 mln eur (Adds detail, background)

VIENNA, Aug 22 (Reuters) - Commercial property group CA Immo confirmed its full-year core income forecast after posting a 13 percent rise in the first-half, helped by high occupancy rates and an increase in rental revenues.

Funds from operations (FFO 1), a measure of recurring free cash flow and the firm’s key indicator for operational strength, came in at 63.2 million euros ($72.28 million) in the six months through end-June, the Austrian group said on Wednesday.

It added that it still expects full-year recurring earnings (FFO I) of at least 115 million euros.

CA Immo, which owns and manages offices in Austria, Germany and central and eastern Europe with a total occupancy rate of 94.6 percent, said it increased its rental income in the first half by 6 percent to 93.8 million euros.

It said its cash position stood at 333 million euros at the end of June.

CA Immo is in the midst of a change in ownership structure after Immofinanz agreed to sell its 26 percent stake to U.S. investor Starwood. The deal is expected to close in the third quarter.

$1 = 0.8744 euros Reporting by Kirsti Knolle; Editing by Kirsten Donovan

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