April 6, 2017 / 4:51 PM / 4 months ago

BRIEF-Immofinanz records 182 mln eur loss May-Dec incl. Russia

April 6 (Reuters) - 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

* Immofinanz group recorded a loss of eur -182.0 million for abbreviated 2016 financial year Source text for Eikon: Further company coverage:

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