*IMMOFINANZ Group adjusted the structure of the consolidated income statement as of 30 April 2013 to reflect the international peer group reporting standards respectively EPRA’s recommendation. The costs directly attributable to income sources (personnel and overhead expenses) were reclassified from personnel and overhead expenses to the individual income categories (results of asset management, results of property sales and results of property development). With this change, IMMOFINANZ Group has improved its cost transparency and comparability with the peer group and also taken a further step to optimise the transparent presentation of corporate results.
In 2012/13 IMMOFINANZ Group confirmed the positive operating trend from the past year despite weaker growth in the core markets. Results of operations for the 2012/13 financial year totalled EUR 542.1 million, which represents an increase of 15.3% or EUR 71.9 million.
Rental income rose substantially year-on-year by EUR 70.2 million or 12.0%. Revenues rose by 11.2% to EUR 869.2 million in 2012/13. Results of asset management were 15.1% higher at EUR 513.0 million. Results of property sales rose by an impressive 108.3% year-on-year to EUR 110.8 million. Results of property development amounted to EUR -18.4 million (2011/12: EUR 30.1 million), above all due to delays in the GOODZONE project in Russia.
Further details on the results are available in the files attached below.