S Immo AG — Earnings Release 2011

Mar 21, 2012

EANS-Adhoc: S IMMO AG / Consolidated net income for the year increased tenfold

ad-hoc disclosure transmitted by euro adhoc with the aim of a Europe-wide distribution. The issuer is solely responsible for the content of this announcement.

Preliminary results S IMMO AG: Consolidated net income for the year increased tenfold

Rental income increase of 21.1% EBIT increase of 52.4% Consolidated net income for year rose from EUR 2.1m to EUR 21.3m FFO yield reaches 9.4% Dividend proposal for Annual General Meeting of EUR 0.10 per Share

S IMMO AG´s preliminary results show a thoroughly positive picture for the financial year 2011.

Gross profit increased by 33.4% S IMMO Group´s rental income in 2011 was exceptionally strong, at EUR 125.9m (2010: EUR 104.0m), a year-on-year increase of 21.1%. The development projects completed in 2010 were a major factor in this improvement, together with the Group´s acquisitions. Gross profit from hotel operations also put on 3.9% in spite of the difficulties posed by the overall uncertain economic climate, and ended the year at EUR 9.0m (2010: EUR 8.7m). The total gross profit climbed by an impressive EUR 26.8m, to EUR 107.0m, after EUR 80.2m in 2010, an increase of 33.4%.

Growth in EBIT and cash flow Operating profit (EBIT) of EUR 92.3m improved by EUR 31.7m compared with the EUR 60.5m achieved in 2010, a marked increase of 52.4%. Consolidated net income for the financial year 2011 came out at EUR 21.3m (2010: EUR 2.1m).

Operating cash flow for the year was also very satisfactory and rose to EUR 96.0m, compared with EUR 74.2m in 2010. The cash flow from investing activities was EUR 4.5m, compared with EUR -36.5m in 2010, while the cash flow from financing activities in 2011 amounted to EUR -124.9m (2010: EUR -84.4m).

Funds from operations (FFO) S IMMO´s funds from operations (FFO) in 2011 improved considerably - by 54.6% to EUR 28.9m (2010: EUR 18.7m). This gives a very respectable FFO yield related to the Share price of 9.4%. FFO before participating certificates expense was EUR 40.1m, compared with EUR 28.9m in 2010.

Dividend for the financial year 2011 At the Annual General Meeting on 01 June 2012 the Management Board will for the first time in the Group´s history propose a dividend distribution of EUR 0.10 per Share and propose an adjustment in the annual distribution on the S IMMO INVEST participating certificates to bring it into line with current earnings.

S IMMO AG´s final results for the year will be presented on 20 April 2012.

Preliminary consolidated income statement according to IFRS for the year ended 31 December 2011 EUR m

| |01 - 12/2011 |01 - 12/2010 | |Revenues |207.8 |174.9 | | Rental income |125.9 |104.0 | | Revenues from service charges |41.3 |32.6 | | Revenues from hotel operations |40.6 |38.3 | |Other operating income |7.7 |5.0 | |Expenses directly attributable to properties |-77.0 |-70.1 | |Hotel operating expenses |-31.6 |-29.6 |

|Gross profit |107.0 |80.2 |
|Income from property disposals |46.5 |102.7 |
|Carrying value of property disposals |-34.9 |-92.8 |
|Gains on property disposals |11.6 |9.9 |
|Management expenses |-17.2 |-18.7 |
|Earnings before interest, tax, depreciation and |101.4 |71.4 |
|amortisation | | |
|Depreciation and amortisation |-9.3 |-10.1 |
|Gains/losses on property valuation |0.1 |-0.8 |
|Operating result (EBIT) |92.3 |60.5 |
|Financing costs |-51.5 |-41.2 |
|Participating certificates result |-11.2 |-10.2 |
|Net income before taxes (EBT) |29.7 |9.1 |
|Taxes on income |-8.4 |-7.0 |
|Consolidated net income for the year |21.3 |2.1 |
| of which attributable to shareholders in parent |20.0 |1.8 |
| of which attributable to non-controlling interests|1.2 |0.3 |
| | | |
|Earnings per share (EUR) |0.29 |0.03 |
Further inquiry note:
 Investor Relations:
Andreas J. Feuerstein
Phone: +43(0)50100-27556
Fax: +43(0)05100-927556
E-mail: andreas.feuerstein@simmoag.at
www.simmoag.at
Corporate Communications:
Bosko Skoko
Phone: +43(0)50100-27522
Fax: +43(0)05100-927522
E-mail: bosko.skoko@simmoag.at
www.simmoag.at
issuer: S IMMO AG
 Friedrichstraße 10
 A-1010 Wien
phone: +43(0)50100-27550
FAX: +43(0)050100-927559
mail: office@simmoag.at
WWW: www.simmoag.at
sector: Real Estate
ISIN: AT0000652250
indexes: ATX Prime, IATX
stockmarkets: official market: Wien
language: English