EANS-Adhoc: S IMMO AG / dividend to be raised by 50%

--------------------------------------------------------------------------------
ad-hoc disclosure transmitted by euro adhoc with the aim of a Europe-wide
distribution. The issuer is solely responsible for the content of this
announcement.
--------------------------------------------------------------------------------

annual result/dividend
24.04.2013

S IMMO AG: dividend to be raised by 50%

- S IMMO confirms preliminary results for 2012
- Highest EBIT in the Group's history
- Net income for the year increased by 22.5% to EUR 26.0m
- Ratio of EBITDA to portfolio value exceptionally strong at 5.3%
- FFO yield of 10.1%
- Dividend proposal: EUR 0.15 per share

Stock exchange listed S IMMO AG (Bloomberg: SPI:AV, Reuters: SIAG.VI)
confirms its preliminary results for 2012. It has been another very
successful financial year, underlined by profitable property sales,
improvements in key performance indicators and the highest EBIT in
the Group's history.

Positive developments in hotel market Rental income in 2012 totalled
EUR 118.5m, compared with EUR 125.9m in 2011. The difference is
wholly attributable to property disposals. Revenues from hotel
operations increased from EUR 40.6m in 2011 to EUR 42.0m. This pushed
gross profit from hotel operations up from EUR 9.0m to EUR 9.9m, an
increase of 9.1%.

The total gross profit for the year came to EUR 104.4m, as opposed to
EUR 107.0m in 2011. The main reason for this slight decrease was the
property sales, which reduced the property portfolio by 5.8%.

Profitable property sales In the financial year 2012, the proceeds of
property disposals came to EUR 132.2m, compared with EUR 46.5m in
2011. This meant that S IMMO significantly exceeded its EUR 100m
target of property sales for 2012. Gains on disposals came to
EUR 10.8m (2011: EUR 11.6m). EBITDA came to EUR 98.8m, compared with
EUR 101.4m in 2011, and the EBITDA margin was raised from 48.8% in
2011 to slightly over 50% in 2012. The ratio of EBITDA to the value
of the property portfolio is 5.3%, an exceptionally good result
compared with the international industry average of roughly 4%.

EBIT at record level Gains on property revaluations totalled
EUR 16.8m (2011: EUR 0.1m). There were valuation gains on the
Austrian and German property portfolios, reflecting the positive
trends in both countries. In contrast, there were reductions in value
in Central and Southeastern Europe. The overall gains contributed to
increases in operating profits (EBIT) of EUR 14.5m, to EUR 106.8m in
2012 as opposed to EUR 92.3m in 2011. This was an impressive 15.7%
increase, and pushed EBIT up to the highest level in the Group's
history.

Consolidated net income up by 22.5% For the financial year 2012,
financing costs (not including participating certificate costs)
amounted to EUR 61.8m (2011: EUR 51.5m). This included a non- cash
foreign exchange loss of EUR 2.0m, as compared with a foreign
exchange gain of EUR 7.3m in 2011, together with non-cash-effective
valuation effects on derivatives of EUR 8.0m (2011: EUR 0). The
results for the financial year as a whole were more than
satisfactory, with consolidated net income of EUR 26.0m. This was a
substantial increase of 22.5% compared with the EUR 21.2m achieved in
2011, and was delivered despite the reduction in size of the property
portfolio.

Key indicators up Funds from operations (FFO) in the fourth quarter
continued the positive performance trend seen in the preceding three
quarters of 2012, and for the whole financial year totalled EUR 33.0m
(2011: EUR 28.9m), an increase of 14.3%. The FFO yield, calculated on
the basis of the Group's market capitalisation, was a very
respectable 10.1%. Net operating income (NOI) decreased slightly by
1.7% to EUR 97.5m as a result of the property disposals (2011:
EUR 99.3m), while the NOI margin improved by 1.8 percentage points
to 49.6%.

Balance sheet net asset value (NAV) increased in the year under
review, and at 31 December 2012 stood at EUR 7.17 per share, compared
with EUR 6.96 a year earlier. EPRA NAV also improved to EUR 9.18
(31 December 2011: EUR 8.70) per share.

Capital markets: proposed dividend increase to EUR 0.15 per share S
IMMO's share price performance for 2012 (including dividend payment)
was 9.1% - a good sign, but Management still sees considerable
potential for improvement. The share repurchase programme continued,
as did the repurchase of S IMMO INVEST participating certificates, in
order to simplify the capital structure in the medium term.

In the Management Board's opinion the marked improvement in S IMMO's
results justifies a significant increase in dividend: In the Annual
General Meeting on 12 June 2013 a 50% increase in the dividend to
EUR 0.15 per share will be proposed. The distribution will take the
form of a tax-free capital repayment.

Outlook for 2013 As in 2012, S IMMO Group will in 2013 again focus on
improving its key earnings indicators. It will again take advantage
of the favourable climate in the German real estate market to sell
properties at a profit. The Company will also exploit favourable
purchase opportunities, particularly in Berlin. Further letting
successes and higher rental income from refurbished properties in
Germany will also continue to be the focus of activities.

Property-related costs and administrative expenses will be further
optimised. The existing lean management structures will be
continuously refined to further enhance cost effectiveness. In its
financing, the Group's medium-term objective is to reduce its loan to
value ratio to under 50%.

Consolidated income statement for the year ended 31 December 2012
EUR m / fair value basis

| |01 - 12/2012 |01 - 12/2011 |
|Revenues |196.7 |207.8 |
| Rental income |118.5 |125.9 |
| Revenues from operating costs |36.2 |41.3 |
| Revenues from hotel operations |42.0 |40.6 |
|Other operating income |6.9 |7.7 |
|Expenses directly attributable to properties |-67.0 |-77.0 |
|Hotel operating expenses |-32.1 |-31.6 |
|Gross profit |104.4 |107.0 |
|Income from property disposals |132.2 |46.5 |
|Carrying value of property disposals |-121.4 |-34.9 |
|Gains on property disposals |10.8 |11.6 |
|Management expenses |-16.4 |-17.2 |
|Earnings before interest, tax, depreciation and |98.8 |101.4 |
|amortisation (EBITDA) | | |
|Depreciation and amortisation |-8.8 |-9.3 |
|Gains on property valuation |16.8 |0.1 |
|Operating result (EBIT) |106.8 |92.3 |
|Financing costs |-61.8 |-51.5 |
|Participating certificates result |-12.8 |-11.2 |
|Net income before tax (EBT) |32.2 |29.6 |
|Taxes on income |-6.2 |-8.4 |
|Consolidated net income |26.0 |21.2 |
| of which attributable to shareholders in parent |24.3 |20.0 |
|company | | |
| of which attributable to non-controlling |1.7 |1.2 |
| interests | | |
|Earnings per share (EUR) |0.36 |0.29 |

|Property key figures | |31.12.2012 |
|Standing properties |number |218 |
|Total usable space |m2 |1,340,607 |
|Gross rental yield |% |6.7 |
|Occupancy rate |% |92.0 |

Further inquiry note:
Investor Relations:
Andreas J. Feuerstein
Phone: +43(0)50100-27556
Fax: +43(0)05100-927556
E-mail: andreas.feuerstein@simmoag.at
www.simmoag.at

Corporate Communications:
Bosko Skoko
Phone: +43(0)50100-27522
Fax: +43(0)05100-927522
E-mail: bosko.skoko@simmoag.at
www.simmoag.at

end of announcement euro adhoc
--------------------------------------------------------------------------------

issuer: S IMMO AG
Friedrichstraße 10
A-1010 Wien
phone: +43(0)50100-27550
FAX: +43(0)050100-927559
mail: office@simmoag.at
WWW: www.simmoag.at
sector: Real Estate
ISIN: AT0000652250
indexes: ATX Prime, IATX
stockmarkets: official market: Wien
language: English