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Immofinanz AG (IMFI.VI)

IMFI.VI on Vienna Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Immofinanz closes Russia assets sale to Fort Group
Thursday, 7 Dec 2017 01:56am EST 

Dec 7 (Reuters) - Immofinanz Ag ::‍IMMOFINANZ HAS SUCCESSFULLY CONCLUDED SALE OF ITS RETAIL PORTFOLIO MOSCOW TO RUSSIAN FORT GROUP​.‍SALE OF RETAIL PORTFOLIO MOSCOW GENERATES IMMEDIATE NET CASH FLOWS (AFTER REPAYMENT OF EXISTING DEBT FINANCING) OF RUB 5.0 BILLION (APPROX. EUR 72.0 MILLION*)​.‍PURCHASE AGREEMENT ALSO INCLUDES AN ADDITIONAL GUARANTEED PAYMENT OF EUR 14.5 MILLION IN JANUARY 2022 AND AN EARN-OUT OF UP TO RUB 9.0 BILLION (APPROX. EUR 129.6 MILLION*) BASED ON REVENUES FROM SHOPPING CENTERS IN 2021​.‍IMMOFINANZ CAN PARTICIPATE WITH UP TO RUB 1.0 BILLION (APPROX. EUR 14.4 MILLION*) IN POSITIVE OUTCOME OF CURRENT TAX REIMBURSEMENT PROCEEDINGS​.  Full Article

Immofinanz swings back to 9m net profit without Russian assets
Tuesday, 28 Nov 2017 11:47am EST 

Nov 28 (Reuters) - Immofinanz Ag ::DGAP-NEWS: IMMOFINANZ STRENGTHENS BALANCE SHEET AND POSTS SIGNIFICANT IMPROVEMENT IN NET PROFIT FOR THE FIRST THREE QUARTERS OF 2017.DIVIDEND 0.06 EURPER SHARE.‍LIKE-FOR-LIKE RENTAL INCOME RISES 3.9%​.‍NET PROFIT FOR PERIOD FROM CONTINUING OPERATIONS (EXCLUDING. RUSSIA) INCREASES SIGNIFICANTLY TO EUR 116.3 MILLION (PRIOR YEAR: EUR -217.8 MILLION) AND NET PROFIT (INCL. RUSSIA) TO EUR -59.1 MILLION (PRIOR YEAR: EUR -409.5 MILLION)​.‍DEBT LEVELS DOWN SHARPLY: NET LOAN-TO-VALUE RATIO IMPROVES TO 42.3%** (EXCLUDING. RUSSIA) AND EQUITY RATIO TO 41.9%**​.‍FFO 1 MORE THAN DOUBLES TO EUR 48.6 MILLION (Q1-3 2016: EUR 19.3 MILLION)​.‍IMMOFINANZ POSTED A SIGNIFICANT INCREASE IN NET PROFIT FROM CONTINUING OPERATIONS (EXCLUDING. RUSSIA) FOR FIRST THREE QUARTERS OF 2017, TO EUR 116.3 MILLION (Q1-3 2016: EUR -217.8 MILLION)​.‍THIS ENABLES US TO TARGET AN INVESTMENT GRADE RATING AS NEXT STEP​.‍A NEGATIVE VALUATION EFFECT OF EUR -157.8 MILLION WAS RECOGNISED FROM SALE IN NET PROFIT OR LOSS FROM DISCONTINUED OPERATIONS IN Q3 OF 2017​.‍IMMOFINANZ, HOWEVER, HAS SOME ADDITIONAL EARNINGS POTENTIAL FROM TRANSACTION OF UP TO APPROX. EUR 145 MILLION​.‍PLANS FOR 2017 FINANCIAL YEAR STILL INCLUDE DISTRIBUTION OF A DIVIDEND OF EUR 0.06 PER SHARE​.  Full Article

Immofinanz sells retail portfolio Moscow to the FORT Group
Monday, 13 Nov 2017 04:06am EST 

Nov 13 (Reuters) - IMMOFINANZ AG ::DGAP-ADHOC: IMMOFINANZ SELLS RETAIL PORTFOLIO MOSCOW TO THE FORT GROUP.‍PURCHASE PRICE FOR GROSS ASSETS, TOTALS UP TO APPROX. EUR 901 MILLION.IMMOFINANZ - ‍EXPECTED DECONSOLIDATION EFFECT OF APPROX. EUR -169 MILLION ON GROUP EQUITY, RESPECTIVELY EUR -0.15 ON EPRA NAV PER SHARE​.‍UPSIDE FROM EARN-OUTS AND TAX REIMBURSEMENTS OF UP TO APPROX. EUR 151 MILLION​.‍PURCHASE PRICE FOR NET ASSETS, CONVERTED FROM RUBELS, TOTALS UP TO APPROXIMATELY EUR 226 MILLION (RUB 15 BILLION)​.‍CLOSING IS EXPECTED BY END OF DECEMBER 2017​.  Full Article

Immofinanz says in advanced talks with one bidder on Russia
Thursday, 19 Oct 2017 10:31am EDT 

Oct 19 (Reuters) - Immofinanz ::CEO Schumy says we are in advanced talks with one bidder on Russia portfolio.  Full Article

Immofinanz announces acceptance quota of 88.6 pct for convertible bonds due 2018
Friday, 29 Sep 2017 03:56am EDT 

Sept 29 (Reuters) - IMMOFINANZ AG ::‍ANNOUNCES ACCEPTANCE QUOTA OF 88.6% WITH RESPECT OF OUTSTANDING VOLUME OF CONVERTIBLE BONDS DUE 2018 IN COURSE OF ITS INCENTIVISED CONVERSION INVITATION​.‍NOMINAL VALUE OF CONVERTIBLE BONDS OUTSTANDING THUS WILL BE REDUCED TO APPROXIMATELY EUR 32.8 MILLION​.  Full Article

Immofinanz completes sale of Gerling Quartier
Monday, 24 Jul 2017 02:10am EDT 

July 24 (Reuters) - IMMOFINANZ AG ::DGAP-NEWS: IMMOFINANZ AG: IMMOFINANZ COMPLETES THE SALE OF THE GERLING QUARTIER TO QUANTUM AND PROXIMUS.COMMERCIAL PROPERTIES INVOLVED IN SALE HAD A BOOK VALUE OF SUBSTANTIALLY MORE THAN EUR 100 MILLION AT END OF 2016.‍SALE PRICE EXCEEDED BOOK VALUE​.OUTSTANDING OBLIGATIONS FOR TRANSFER AND COMPLETION OF COLOGNE PROPERTIES WILL HAVE NEGATIVE EFFECT ON RESULTS OF PROPERTY DEVELOPMENT.THIS IS EXPECTED TO LEAD TO A NEGATIVE EARNINGS CONTRIBUTION (PRE-TAX) OF APPROXIMATELY EUR -10.0 MILLION IN Q2 OF 2017.  Full Article

Immofinanz says court approved settlement with Immoeast
Tuesday, 23 May 2017 04:57am EDT 

May 23 (Reuters) - Immofinanz Ag :approval and execution of settlement to finalise the review of the exchange ratio applied in the merger of Immoeast and Immofinanz.Says commercial court in Vienna has approved settlement to end legal review of exchange ratio applied in merger of Immoeast and Immofinanz in 2010.Says capital increase for issuance of shares was entered in commercial register today.Says shares are expected to be allocated on 30 May 2017.  Full Article

Immofinanz says aims for dividend to equal 65 pct of FFO
Friday, 7 Apr 2017 05:21am EDT 

Immofinanz : CFO says long-term goal is for dividend payout to be roughly 65 percent of FFO Further company coverage: [IMFI.VI] ((vienna.newsroom@thomsonreuters.com; +43 1 531 12 258;)).  Full Article

Immofinanz records 182 mln eur loss May-Dec incl. Russia
Thursday, 6 Apr 2017 12:15pm EDT 

Immofinanz Ag : dgap-news: immofinanz: group profit for 2016a negatively influenced by russia and valuation effects, occupancy rate significantly increased, dividend of 6 cents/share planned . Rental income // 156.7 million eur may - dec . Ffo1 (excluding. Results of property sales and development) // 34.7 million eur may-dec . Net profit for period from continuing operations // 26.9 million eur may-dec . Russian portfolio is therefore presented as a discontinued operation in consolidated financial statements for 2016a . Separation of russian retail properties through a sale or spin-off should be completed, as previously announced, by end of 2017. . From current point of view, annual general meetings which will vote on merger of immofinanz und ca immo are expected to take place in 2018 . Payment of a dividend is also planned for current 2017 financial year . Additional rental income from active development projects is expected to total approx. Eur 37.0 million at full occupancy . Decline in rental income due to property sales (sale of non-core assets) will be offset by acquisitions, indexing and an increase in occupancy . Normalisation of temporarily higher property expenses and other operating expenses should result in a positive ffo effect of approx. Eur 25.0 million over medium-term . Financing costs are expected to decline by approx. Eur 30.0 million over coming years.  Full Article

Immofinanz resolves share buyback programme 1/2017
Tuesday, 14 Mar 2017 07:46am EDT 

Immofinanz AG : Immofinanz resolves share buyback programme 1/2017 . Repurchases of shares in course of share buyback programme 1/2017 will be carried out by Immofinanz AG or one of its subsidiaries. Volume amounts up to a maximum of 20 million shares .Repurchase is expected to start at earliest on March 20, 2017.  Full Article

Russia's Sberbank provides loan to Fort Group to buy Immofinanz malls

MOSCOW, Dec 11 Russian state-controlled lender Sberbank has provided a loan to Russia's Fort Group to buy Austrian real estate group Immofinanz's Russian malls, Sberbank said in a statement on Monday.