DGAP-News: IMMOFINANZ Group successfully continues portfolio optimisation
(firmenpresse) - DGAP-News: IMMOFINANZ AG / Key word(s): Real Estate/Disposal
IMMOFINANZ Group successfully continues portfolio optimisation
08.05.2012 / 10:29
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Since March 2012 IMMOFINANZ Group has sold four properties in Austria: two
office buildings, one commercial building and a hotel. These transactions
reflect the company's strategy to sell properties that do not match the
target portfolio with respect to size, location, quality or use. The
proceeds on these sales amounted to over EUR 12 million and exceeded the
carrying amount of the assets by a substantial margin. With the sale of the
last project in Bosnia-Herzegovina, the Group has now also withdrawn
completely from this market.
Sale of four properties in Austria
These four sales represent a further step by IMMOFINANZ Group to optimise
its portfolio. The above-mentioned office buildings represent a property in
the Herbeckstrasse in Vienna and a property in the Itzlinger Hauptstrasse in
Salzburg. As planned, the company also sold a commercial property in
Radstadt, Salzburg. The fourth transaction involved a hotel in the
Taborstraße in Vienna, which is the first of several hotel sales planned for
Austria over the next two years.
'The successful conclusion of these transactions in recent weeks reflects
the steady optimisation of our Austrian portfolio. Once again, the proceeds
clearly exceeded the respective carrying amounts. These sales are further
successful examples of our 'real estate machine' and will release additional
funds for profitable new investments', commented Manfred Wiltschnigg, Member
of the Executive Board of IMMOFINANZ Group.
Exit from Bosnia-Herzegovina
IMMOFINANZ Group sold its 50% stake in a residential construction project in
Bosnia-Herzegovina during January and is no longer active on the Bosnian
market. With the sale of this project, IMMOFINANZ Group demonstrated the
steady implementation of its exit strategy: 'Bosnia is not one of our core
countries, and the sale of this last property was therefore an obvious step.
It will allow us to strengthen our focus on our eight core markets and
increase our activities in these areas', added Wiltschnigg. The core
countries of IMMOFINANZ Group are Austria, Germany, Czech Republic,
Slovakia, Hungary, Romania, Poland and Russia.
In 2010/11 IMMOFINANZ Group announced a five-year sale programme with a
volume of EUR 2.5 billion. The goal is to adjust and increase the turnover
of the current property portfolio. These latest sales illustrate the
continuation of this success course: seven quarters after the start of the
programme IMMOFINANZ Group has exceeded its sales targets, with proceeds of
EUR 941.4 million received by 31 January 2012.
On IMMOFINANZ Group
IMMOFINANZ Group is one of the leading listed property companies in Europe
and is included in the leading ATX index of the Vienna Stock Exchange. Since
its founding in 1990, the company has compiled a high-quality property
portfolio that now comprises more than 1,830 investment properties with a
carrying amount of approx. EUR 9.81 billion. The core business of IMMOFINANZ
Group covers the acquisition and management of investment properties, the
realisation of development projects and the sale of objects. IMMOFINANZ
Group concentrates its activities in the retail, office, logistics and
residential segments of eight regional core markets:Austria, Germany, Czech
Republic, Slovakia, Hungary, Romania, Poland and Russia. Further information
under: www.immofinanz.com.
Contact:
For additional information contact:
INVESTOR RELATIONS
Stefan Schönauer
Head of Corporate Finance&Investor Relations
IMMOFINANZ AG
M +43 (0)699 1685 7312
investor(at)immofinanz.com
Simone Korbelius
Investor Relations
IMMOFINANZ AG
T +43 (0)5 7111 2291
investor(at)immofinanz.com
MEDIA INQUIRIES
Sandra Bauer
Head of Corporate Communications | Press Spokesperson
IMMOFINANZ AG
T +43 (0)5 7111 2292
M +43 (0)699 1685 7292
communications(at)immofinanz.com
A-1100 Wien, Wienerbergstraße 11
www.immofinanz.com
End of Corporate News
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08.05.2012 Dissemination of a Corporate News, transmitted by DGAP - a
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Language: English
Company: IMMOFINANZ AG
Wienerbergstraße 11
1100 Wien
Austria
Phone: +43 (0) 5 7111 - 2291
Fax: +43 (0) 5 7111 - 8291
E-mail: investor(at)immofinanz.com
Internet: http://www.immofinanz.com
ISIN: AT0000809058
WKN: 911064
Listed: Freiverkehr in Berlin, München, Stuttgart; Open Market in
Frankfurt; Wien (Amtlicher Handel / Official Market)
End of News DGAP News-Service
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168556 08.05.2012
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Datum: 08.05.2012 - 10:29 Uhr
Sprache: Deutsch
News-ID 143600
Anzahl Zeichen: 5694
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Kategorie:
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