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Immofinanz AG (IMFI.VI)

IMFI.VI on Vienna Stock Exchange

2.04EUR
12 Dec 2017
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Latest Key Developments (Source: Significant Developments)

Immofinanz closes Russia assets sale to Fort Group
Thursday, 7 Dec 2017 

Dec 7 (Reuters) - Immofinanz Ag ::‍IMMOFINANZ HAS SUCCESSFULLY CONCLUDED SALE OF ITS RETAIL PORTFOLIO MOSCOW TO RUSSIAN FORT GROUP​.‍SALE OF RETAIL PORTFOLIO MOSCOW GENERATES IMMEDIATE NET CASH FLOWS (AFTER REPAYMENT OF EXISTING DEBT FINANCING) OF RUB 5.0 BILLION (APPROX. EUR 72.0 MILLION*)​.‍PURCHASE AGREEMENT ALSO INCLUDES AN ADDITIONAL GUARANTEED PAYMENT OF EUR 14.5 MILLION IN JANUARY 2022 AND AN EARN-OUT OF UP TO RUB 9.0 BILLION (APPROX. EUR 129.6 MILLION*) BASED ON REVENUES FROM SHOPPING CENTERS IN 2021​.‍IMMOFINANZ CAN PARTICIPATE WITH UP TO RUB 1.0 BILLION (APPROX. EUR 14.4 MILLION*) IN POSITIVE OUTCOME OF CURRENT TAX REIMBURSEMENT PROCEEDINGS​.  Full Article

Immofinanz swings back to 9m net profit without Russian assets
Tuesday, 28 Nov 2017 

Nov 28 (Reuters) - Immofinanz Ag ::DGAP-NEWS: IMMOFINANZ STRENGTHENS BALANCE SHEET AND POSTS SIGNIFICANT IMPROVEMENT IN NET PROFIT FOR THE FIRST THREE QUARTERS OF 2017.DIVIDEND 0.06 EURPER SHARE.‍LIKE-FOR-LIKE RENTAL INCOME RISES 3.9%​.‍NET PROFIT FOR PERIOD FROM CONTINUING OPERATIONS (EXCLUDING. RUSSIA) INCREASES SIGNIFICANTLY TO EUR 116.3 MILLION (PRIOR YEAR: EUR -217.8 MILLION) AND NET PROFIT (INCL. RUSSIA) TO EUR -59.1 MILLION (PRIOR YEAR: EUR -409.5 MILLION)​.‍DEBT LEVELS DOWN SHARPLY: NET LOAN-TO-VALUE RATIO IMPROVES TO 42.3%** (EXCLUDING. RUSSIA) AND EQUITY RATIO TO 41.9%**​.‍FFO 1 MORE THAN DOUBLES TO EUR 48.6 MILLION (Q1-3 2016: EUR 19.3 MILLION)​.‍IMMOFINANZ POSTED A SIGNIFICANT INCREASE IN NET PROFIT FROM CONTINUING OPERATIONS (EXCLUDING. RUSSIA) FOR FIRST THREE QUARTERS OF 2017, TO EUR 116.3 MILLION (Q1-3 2016: EUR -217.8 MILLION)​.‍THIS ENABLES US TO TARGET AN INVESTMENT GRADE RATING AS NEXT STEP​.‍A NEGATIVE VALUATION EFFECT OF EUR -157.8 MILLION WAS RECOGNISED FROM SALE IN NET PROFIT OR LOSS FROM DISCONTINUED OPERATIONS IN Q3 OF 2017​.‍IMMOFINANZ, HOWEVER, HAS SOME ADDITIONAL EARNINGS POTENTIAL FROM TRANSACTION OF UP TO APPROX. EUR 145 MILLION​.‍PLANS FOR 2017 FINANCIAL YEAR STILL INCLUDE DISTRIBUTION OF A DIVIDEND OF EUR 0.06 PER SHARE​.  Full Article

Immofinanz sells retail portfolio Moscow to the FORT Group
Monday, 13 Nov 2017 

Nov 13 (Reuters) - IMMOFINANZ AG ::DGAP-ADHOC: IMMOFINANZ SELLS RETAIL PORTFOLIO MOSCOW TO THE FORT GROUP.‍PURCHASE PRICE FOR GROSS ASSETS, TOTALS UP TO APPROX. EUR 901 MILLION.IMMOFINANZ - ‍EXPECTED DECONSOLIDATION EFFECT OF APPROX. EUR -169 MILLION ON GROUP EQUITY, RESPECTIVELY EUR -0.15 ON EPRA NAV PER SHARE​.‍UPSIDE FROM EARN-OUTS AND TAX REIMBURSEMENTS OF UP TO APPROX. EUR 151 MILLION​.‍PURCHASE PRICE FOR NET ASSETS, CONVERTED FROM RUBELS, TOTALS UP TO APPROXIMATELY EUR 226 MILLION (RUB 15 BILLION)​.‍CLOSING IS EXPECTED BY END OF DECEMBER 2017​.  Full Article

Immofinanz says in advanced talks with one bidder on Russia
Thursday, 19 Oct 2017 

Oct 19 (Reuters) - Immofinanz ::CEO Schumy says we are in advanced talks with one bidder on Russia portfolio.  Full Article

Immofinanz says in advanced talks with one bidder for Moscow retail properties
Wednesday, 4 Oct 2017 

Oct 4 (Reuters) - Immofinanz Ag :It is now in advanced talks with one bidder for its retail properties in Moscow.Overall process for sale of Moscow shopping centers also includes other prospective buyers.Plans to complete separation of Russian portfolio by end of 2017 remain unchanged from current point of view.Key conditions for sale of retail properties in Moscow must still be finalised.  Full Article

CA Immo says Q2 FFO I 22.9 mln eur, slightly better than expected
Wednesday, 24 Aug 2016 

CA Immo : Net rental income increase by 19.2% to eur 72.1 m . FFO I per share at eur 0.46 up 21% yoy (2015: eur 0.38 per share) . FFO I, reported before taxes and adjusted for sales result and other non-permanent effects, totalled eur 43.8 m after first six months of 2016 (eur 37.7 m in 2015) . We hereby confirm an annual target for long-term revenue of a 10% increase in FFO I per share compared to previous year . Current share buyback programme will be continued, with current target for number of own shares acquired amounting to five million in second half of year . Spokeswoman says Q2 FFO I 22.9 million eur (average forecast in Reuters poll: 20.9 million eur) . In the second six months we will introduce key growth-promoting measures aimed at steadily raising the sustainable earnings of CA Immo over the long term . As regards the possible merger with Immofinanz, we are well prepared for negotiations. We will carefully examine the pros and cons of such a transaction in the interests of our shareholders. Further company coverage: [CAIV.VI] ((vienna.newsroom@thomsonreuters.com; +43 1 531 12 258;)).  Full Article

Immofinanz says plans to sell 1 bln eur in assets in mid term
Thursday, 28 Jul 2016 

Immofinanz : Says plans in mid term to sell assets worth 1 billion eur, includes 560 million in office assets, 320 million in retail, money to be used for development and portfolio growth . Says will take 12-18 months from closing of CA Immo stake acquisition for shareholders to decide about merger Further company coverage: [IMFI.VI] ((vienna.newsroom@thomsonreuters.com; +43 1 531 12 258;)).  Full Article

CA Immobilien Anlagen: executive board approves transfer of shares to Immofinanz
Wednesday, 27 Jul 2016 

CA Immobilien Anlagen AG : Executive board approves transfer of 4 registered shares to Immofinanz AG .Management board also decided to mandate J.P. Morgan and Ithuba Capital as financial advisors for potential merger with Immofinanz.  Full Article

Immofinanz sells 18.5 mln Buwog shares to SAPINDA
Thursday, 9 Jun 2016 

Immofinanz AG : Sells 18.5 million Buwog shares to the strategic investor SAPINDA . Price of 19.00 euros ($21.65) per share - for a total of approx. 352 million euros - is 3.5 pct higher than Wednesday's closing price of 18.36 euros . Proceeds from sale will be used to finance acquisition of a 26 pct stake in CA Immobilien Anlagen AG . Sale reduces Buwog shares held by Immofinanz by approx. 18.5 percentage points to roughly 10 pct .Approx. 10 million remaining Buwog shares are intended to proportionally service convertible bonds issued by Immofinanz.  Full Article

Immofinanz office portfolio occupancy up at nearly 82 pct by end of 2015/16
Monday, 9 May 2016 

Immofinanz AG : Raised occupancy level in its office standing investments by roughly seven percentage points to nearly 82 pct by end of 2015/16 financial year .Rentals in office segment totalled approx. 388,000 sqm, or 29 pct of total area, according to preliminary numbers.  Full Article

Austria ex-finance minister goes on trial accused of corruption

VIENNA, Dec 12 An Austrian former finance minister went on trial on Tuesday accused of bribery and embezzlement in one of the biggest corruption cases in the country's recent history.