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CPI Europe AG — Earnings Release 2020
May 13, 2020
746_iss_2020-05-13_c5fec365-63f6-42a9-a02d-741062e97e60.pdf
Earnings Release
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DGAP-Ad-hoc: IMMOFINANZAG/ Keyword(s):Real Estate/Profit Warning IMMOFINANZwith outlook onQ1 2020: Substantial increase in results of operations, negative effect from propertyvaluation expected
13-May-2020 / 16:55 CET/CEST
Disclosure of an inside information acc. toArticle 17 MARof the Regulation (EU) No 596/2014, transmitted byDGAP- a service of EQS GroupAG.
The issuer is solelyresponsible for the content of this announcement.
IMMOFINANZwithoutlook onQ1 2020:Substantial increase inresults of operations, negative effect frompropertyvaluationexpected
IMMOFINANZexpects a substantial improvement in rental income and the results of operations for the first quarter of 2020. The estimated increases range from 13.0%to 15.0%versus Q1 2019.
The Covid-19 pandemic is expected to result in negative effects of EUR-45.0 million from the valuation of standing investments (which represents approx. 0.85%of investment propertyat the end of March 2020). This is primarilyattributable to the slight increase in market yields, above all in the retail sector. In particular, these valuation results are expected to result in negative earnings for the period.
IMMOFINANZwill announce its first quarter results for 2020 on 27 May2020 (evening) as planned.Afurther update on the effects ofCovid-19 on the company's business will also be provided at that time.
OnIMMOFINANZ
IMMOFINANZis a commercial real estate group whose activities are focused on the retail and office segments of seven core markets in Europe: Austria,Germany, Poland,Czech Republic, Slovakia,Hungary and Romania. The core business covers the management and development of properties,whereby the STOPSHOP(retail), VIVO! (retail) and myhive (office) brands represent strong focal points that stand for quality and service. The real estate portfolio has a value of approx. EUR5.1 billion and covers more than 210 properties. IMMOFINANZis listed on the stock exchanges in Vienna (leading ATXindex) and Warsaw. Further information under: http://www.immofinanz.com
For additional informationcontact:
Bettina Schragl Head ofCorporate Communications and Investor Relations T+43 (0)1 88 090 2290 M+43 (0)699 1685 7290 [email protected] [email protected]
13-May-2020 CET/CESTThe DGAPDistribution Services include RegulatoryAnnouncements, Financial/Corporate News and Press Releases.
Archive atwww.dgap.de
| Language: Company: |
English IMMOFINANZAG Wienerbergstraße 11 1100 Vienna |
|---|---|
| Austria | |
| Phone: | +43 (0) 1 88090 - 2290 |
| Fax: | +43 (0) 1 88090 - 8290 |
| E-mail: | [email protected] |
| Internet: | http://www.immofinanz.com |
| ISIN: | AT0000A21KS2 |
| WKN: | A2JN9W |
| Listed: | Regulated Unofficial Market in Berlin, Frankfurt, Munich, Stuttgart; Warschau, Vienna Stock Exchange (Official Market) |
| EQSNews ID: | 1044123 |
End ofAnnouncement DGAPNews Service