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IMMOFINANZ – a European commercial real estate group
IMMOFINANZ is committed to responsible management in accordance with the principles of integrity, honesty and transparency. Mutual trust as the underlying conviction forms the basis for constructive cooperation throughout the company and with business partners.
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- 15.92EUR
- 0.32 (2.05%)
- 02.12.2020 17:35:00
IMMOFINANZ: Rental income increases 5.7% in Q1-3 2020, FFO 1 10.1% over previous year
IMMOFINANZ recorded an increase in rental income and in the results of asset management and property sales during the first three quarters of 2020 despite the Covid-19 crisis. FFO 1 (before tax) was only slightly lower than the previous year at EUR 89.2 million. After an adjustment for the straight-lining of a bond coupon payment in Q1 2020 over 12 months, FFO 1 improved by 10.1% to EUR 92.4 million. The capital measures carried out in Q3 2020 strengthened the equity ratio and reduced the net LTV to 38.4%. The strong cash position of EUR 601.9 million at the end of September was increased to approximately EUR 1.2 billion by the benchmark bond issued in October and an undrawn credit line. IMMOFINANZ is therefore very well positioned to manage the current crisis and to utilise future growth opportunities.
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Our international myhive brand places top priority on innovative office concepts with a wide range of services, excellent infrastructure and an active community. Our offices meet the expectations on a modern working environment.
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IMMOFINANZ’ myhive office brand proves a success story in Hungary
