Immofinanz Posts Lower Net Income

Professional ServicesReal Estate ♦ Published: August 2, 2013; 20:53 ♦ (Vindobona)

The Austrian real estate company has published the results for the financial year 2012/13. Property sales at record high, net profit lower due to decline in positive valuation effects.

Immofinanz Posts Lower Net Income / Picture: ©

In 2012/13 IMMOFINANZ Group confirmed the positive operating trend from the past year despite weaker growth in the core markets. Results of operations for the 2012/13 financial year totalled EUR 542.1 million, which represents an increase of 15.3% or EUR 71.9 million.

Rental income rose substantially year-on-year by EUR 70.2 million or 12.0%.…