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After a loss-making year in 2023, S Immo turned from negative €40.2 million in the first half of 2023 to €13.6 million currently.
S Immo, which is currently listed on the stock exchange, turned profitable in the first half of 2024. Results for the period went from negative €40.2 million in the first half of 2023 to €13.6 million currently. Rental income excluding discontinued operations increased from €74.8 million to €111.9 million, and total revenue increased from €137.8 million to €185.6 million. Immunization financing— daughter announced Wednesday evening.
“The growth in our key operating figures is not a one-off effect, but rather a sustainable foundation for future profitability,” said Radka Doehring, member of the s-Immo board of directors, referring to the current balance sheet figures. s-Immo is active in Austria, Germany, Hungary, Romania, the Czech Republic and Slovakia. The real estate group’s portfolio consists mainly of office buildings, but also retail, hotel and residential properties. The group was hit by the German real estate crisis and is gradually withdrawing.
The property valuation result for the first six months of the current fiscal year was negative €9.2 million, compared to negative €21.3 million in the same period last year. Tomáš Salajka, a member of the s-Immo board of directors, said that “further purchases and sales to optimize the results” were being reviewed.
Immofinanz already owns more than 50% of s-Immo and is now planning to exclude minority shareholders (squeeze out), including saying goodbye to them Vienna Stock ExchangeImmo said the cash compensation for the acquisition of the affected shares should be determined based on a valuation report and decided at an extraordinary general meeting of shareholders expected in autumn 2024. (APA)
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