IMMOFINANZ AG
IMMOFINANZ with outlook on Q1 2020: Substantial increase in results of operations, negative effect from property valuation expected
IMMOFINANZ AG / Key word(s): Real Estate/Profit Warning IMMOFINANZ with outlook on Q1 2020: Substantial increase in results of operations, negative effect from property valuation expected
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 property at the end of March 2020). This is primarily attributable 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. IMMOFINANZ will announce its first quarter results for 2020 on 27 May 2020 (evening) as planned. A further update on the effects of Covid-19 on the company’s business will also be provided at that time.
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13-May-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
Language: | English |
Company: | IMMOFINANZ AG |
Wienerbergstraße 11 | |
1100 Vienna | |
Austria | |
Phone: | +43 (0) 1 88090 – 2290 |
Fax: | +43 (0) 1 88090 – 8290 |
E-mail: | investor@immofinanz.com |
Internet: | http://www.immofinanz.com |
ISIN: | AT0000A21KS2 |
WKN: | A2JN9W |
Listed: | Regulated Unofficial Market in Berlin, Frankfurt, Munich, Stuttgart; Warschau, Vienna Stock Exchange (Official Market) |
EQS News ID: | 1044123 |
End of Announcement | DGAP News Service |