CA Immobilien says Q1 cash flow from ops up 7 pct

VIENNA Tue May 27, 2014 2:14pm EDT

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VIENNA May 27 (Reuters) - Austrian real-estate group CA Immobilien reported a 7 percent rise in first-quarter funds from operations on Tuesday, thanks mainly to lower financing costs.

FFO 1, a key measure of cash flow from operations that excludes depreciation, amortisation and gains or losses from property disposals, was 16 million euros ($22 million), CA Immo said in a statement.

Net rental income was 33 million euros, down 24 percent on a comparable basis, taking account of the deconsolidation of its income from joint ventures, which were reported separately under new accounting rules it adopted at the start of the year.

($1 = 0.7345 Euros) (Reporting by Georgina Prodhan, editing by David Evans)

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