Rental income improved by 10.5% (including the effects from the initial application of IFRS 16), respectively by 4.1% (excluding IFRS 16 effects) to EUR 65.2 million. Results of operations rose by 3.7% to EUR 36.8 million and sustainable FFO 1 (before tax) from the standing investment business climbed 35.0% to EUR 28.1 million. Net profit also increased significantly year-on-year to EUR 30.4 million in the reporting period (Q1 2018: EUR 1.0 million).
In addition to the professional management of these properties, we focus on value-creating growth through our own development projects and acquisitions as well as the related optimisation of our portfolio structure. In doing so, we focus on our three brands: myhive for offices, STOP SHOP for retail parks and VIVO! for shopping centres – always with the goal of strengthening our standing investments and sustainable cash flow.
Our myhive am Wienerberg has already become a landmark for the city. Many companies appreciate the office building because it has a lot to offer for it's tenants.
We are a listed European commercial property group focussing on two asset classes: office and retail in seven core markets. Learn more!