Considerable Rise in Profit at S Immo

Business › n.a. ♦ Published: April 20, 2012; 11:19 ♦ (Vindobona)

Consolidated net income at the Austrian real estate company was up from € 2.1m to € 21.2m. EBITDA was up by 42.0%.

Considerable Rise in Profit at S Immo / Picture: © Vindobona.org

S Immo Group’s rental income in 2011 was remarkably strong, at € 125.9m (2010: € 104.0m), a year-on-year increase of 21.1%. The development projects completed in 2010 were a major contributor in this improvement, together with the Group’s acquisitions. Gross profit from hotel operations also rose by 3.9%, in spite of the difficulties posed by the uncertain economic climate, and…

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