EANS-Adhoc: S IMMO AG / Consolidated net income for the year increased tenfold

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Preliminary results S IMMO AG

21.03.2012

Preliminary results S IMMO AG: Consolidated net income for the year
increased tenfold

• Rental income increase of 21.1% • EBIT increase of 52.4% •
Consolidated net income for year rose from EUR 2.1m to EUR 21.3m •
FFO yield reaches 9.4% • Dividend proposal for Annual General
Meeting of EUR 0.10 per Share

S IMMO AG´s preliminary results show a thoroughly positive picture
for the financial year 2011. Gross profit increased by 33.4% S IMMO
Group´s rental income in 2011 was exceptionally strong, at EUR 125.9m
(2010: EUR 104.0m), a year-on-year increase of 21.1%. The development
projects completed in 2010 were a major factor in this improvement,
together with the Group´s acquisitions. Gross profit from hotel
operations also put on 3.9% in spite of the difficulties posed by the
overall uncertain economic climate, and ended the year at EUR 9.0m
(2010: EUR 8.7m). The total gross profit climbed by an impressive
EUR 26.8m, to EUR 107.0m, after EUR 80.2m in 2010, an increase of
33.4%.

Growth in EBIT and cash flow Operating profit (EBIT) of EUR 92.3m
improved by EUR 31.7m compared with the EUR 60.5m achieved in 2010, a
marked increase of 52.4%. Consolidated net income for the financial
year 2011 came out at EUR 21.3m (2010: EUR 2.1m).

Operating cash flow for the year was also very satisfactory and rose
to EUR 96.0m, compared with EUR 74.2m in 2010. The cash flow from
investing activities was EUR 4.5m, compared with EUR -36.5m in 2010,
while the cash flow from financing activities in 2011 amounted to
EUR -124.9m (2010: EUR -84.4m).

Funds from operations (FFO) S IMMO´s funds from operations (FFO) in
2011 improved considerably - by 54.6% - to EUR 28.9m (2010:
EUR 18.7m). This gives a very respectable FFO yield related to the
Share price of 9.4%. FFO before participating certificates expense
was EUR 40.1m, compared with EUR 28.9m in 2010.

Dividend for the financial year 2011 At the Annual General Meeting on
01 June 2012 the Management Board will for the first time in the
Group´s history propose a dividend distribution of EUR 0.10 per Share
and propose an adjustment in the annual distribution on the
S IMMO INVEST participating certificates to bring it into line with
current earnings.

S IMMO AG´s final results for the year will be presented on 20 April
2012.

Preliminary consolidated income statement according to IFRS for the
year ended 31 December 2011 EUR m

| |01 - 12/2011 |01 - 12/2010 |
|Revenues |207.8 |174.9 |
| Rental income |125.9 |104.0 |
| Revenues from service charges |41.3 |32.6 |
| Revenues from hotel operations |40.6 |38.3 |
|Other operating income |7.7 |5.0 |
|Expenses directly attributable to properties |-77.0 |-70.1 |
|Hotel operating expenses |-31.6 |-29.6 |
|Gross profit |107.0 |80.2 |
|Income from property disposals |46.5 |102.7 |
|Carrying value of property disposals |-34.9 |-92.8 |
|Gains on property disposals |11.6 |9.9 |
|Management expenses |-17.2 |-18.7 |
|Earnings before interest, tax, depreciation and |101.4 |71.4 |
|amortisation | | |
|Depreciation and amortisation |-9.3 |-10.1 |
|Gains/losses on property valuation |0.1 |-0.8 |
|Operating result (EBIT) |92.3 |60.5 |
|Financing costs |-51.5 |-41.2 |
|Participating certificates result |-11.2 |-10.2 |
|Net income before taxes (EBT) |29.7 |9.1 |
|Taxes on income |-8.4 |-7.0 |
|Consolidated net income for the year |21.3 |2.1 |
| of which attributable to shareholders in parent |20.0 |1.8 |
| of which attributable to non-controlling interests|1.2 |0.3 |
| | | |
|Earnings per share (EUR) |0.29 |0.03 |

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
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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