April 4, 2018 / 4:18 PM / 6 months ago

BRIEF-Immofinanz Net Profit From Continuing Operations At EUR 181.0 Mln

April 4 (Reuters) - IMMOFINANZ AG:

* DIVIDEND RECOMMENDATION RAISED TO 7 CENTS PER SHARE

* FY ‍NET PROFIT (INCL. RUSSIA) NEGATIVE, AS EXPECTED, AT EUR -537.1 MILLION​

* SAYS RECOMMENDATION WILL BE MADE TO ANNUAL GENERAL MEETING ON 11 MAY 2018, CALLING FOR PAYMENT OF A 7 CENTS (EUR 0.07) DIVIDEND PER SHARE

* FY ‍RENTAL INCOME WAS SLIGHTLY HIGHER AT EUR 234.5 MILLION (2016*: EUR 233.4 MILLION)​

* SAYS PLANS CALL FOR AN INCREASE IN DIVIDEND TO EIGHT EURO CENTS (EUR 0.08) PER SHARE FOR 2018 FINANCIAL YEAR

* FY FFO 1 BEFORE TAX (EXCLUDING RESULTS OF PROPERTY SALES AND PROPERTY DEVELOPMENT) AT EUR 71.4 MILLION (2016*: EUR 53.2 MILLION)​

* BY 2019 ‍RENTAL INCOME GENERATED BY COMPLETION OF DEVELOPMENT PROJECTS IS EXPECTED TO ADD EUR 21.2 MLN TO FFO​

* ‍FFO 1 BEFORE TAX, EXCLUDING ECONOMIC INTEREST IN CA IMMO, SHOULD THEREFORE RISE TO MORE THAN EUR 100 MILLION IN 2019​

* FY ‍RESULTS OF DISCONTINUED OPERATIONS TOTALLED EUR -718.1 MILLION (2016*: EUR -274.4 MILLION)​

* FY ‍NET PROFIT FROM CONTINUING OPERATIONS IMPROVED SUBSTANTIALLY TO EUR 181.0 MILLION (2016*: EUR -147.4 MILLION)​ Source text for Eikon: Further company coverage: (Gdynia Newsroom)

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