EANS-Adhoc: S IMMO AG / third quarter results confirm sucessful business performance

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Financial Figures/Balance Sheet/9-month report
22.11.2012

S IMMO AG: third quarter results confirm successful business
performance

- Consolidated net income up to EUR 20m
- Proceeds of property sales totalling EUR 130.1m
- Earnings per share up from EUR 0.24 to EUR 0.29
- S IMMO Share: upwards trend in the capital market

For stock exchange listed S IMMO AG (Bloomberg: SPI:AV, Reuters:
SIAG.VI) the first three quarters of the financial year 2012 have
proved highly successful. The Company has achieved increases in key
indicators such as consolidated net income and funds from operations.

Gross profit Total revenues for the first three quarters of 2012
amounted to EUR 146.3m. The rental income continued at a satisfactory
level in spite of the successful property sales - while the property
portfolio decreased by 5.8%, rental income declined by only 2.5% to
EUR 89.5m, compared with EUR 91.8m for the same period last year.
Revenues from hotel operations (revenues from the Vienna and Budapest
Marriott Hotels, both operated under management agreements) increased
slightly, from EUR 29.3m to EUR 29.5m. The gross profit from hotel
operations in the third quarter of 2012 came to EUR 6.2m, compared
with EUR 6.9m in the third quarter of 2011. In total, gross profit
for the first three quarters dropped slightly by 2.9% to EUR 77.8m,
compared with EUR 80.1m in the same period last year.

Successful property disposals As at 30 September 2012 the sale
proceeds totalled EUR 130.1m, compared with EUR 40.5m for the same
period last year. This means that by the end of the third quarter,
S IMMO had already more than achieved its goal of disposing of
properties to the value of EUR 100m in 2012. The gains on disposals
came to EUR 9.7m. Despite the property sales, EBITDA fell by
only 1.8%, to EUR 75.3m, compared with EUR 76.6m for the first nine
months of 2011. Gains from property valuations for the first three
quarters of 2012 came to EUR 5.5m (Q3 2011: EUR 4.3m) and were
entirely attributable to the German property portfolio. At EUR 73.9m
(Q3 2011: EUR 74.0m), EBIT for the period remained more or less
unchanged.

Further increase in net profit for the period Financing costs for the
first three quarters of 2012 amounted to EUR 41.8m, compared with
EUR 40.3m for the same period last year. The difference was partly
due to a non-cash foreign exchange loss of EUR 2.0m, as opposed to a
foreign exchange gain of EUR 3.3m for the first three quarters of
2011. The Group's consolidated net income for the third quarter came
to a very satisfactory EUR 20.4m, compared with EUR 20.3m for the
same period last year, a slight increase of 0.7% despite the reduced
portfolio.

Key indicators at very satisfactory levels Funds from operations
(FFO) rose by 7.7% in the first three quarters of 2012 to EUR 24.9m.
The corresponding figure last year was EUR 23.1m. With S IMMO's
market capitalisation of EUR 324.9m at 30 September 2012, the FFO
yield was a very satisfactory 10.2%. Because of property disposals,
net operating income (NOI) fell by 3.1% to EUR 72.7m, compared with
EUR 75.0m for the same period last year. However, the NOI margin
improved by 0.3 percentage points to 49.7%. This is attributable to
increases in efficiency and a reduction in property related costs. As
at 30 September 2012 the balance sheet net asset value (NAV) stood at
EUR 7.01 per share (31 December 2011: EUR 6.96 per share). The EPRA
NAV, the inner value of the share calculated in accordance with the
guidelines of the European Public Real Estate Association, was
EUR 9.02 per share (31 December 2011: EUR 8.70 per share). Earnings
per share increased to EUR 0.29 (Q3 2011: EUR 0.24).

Successful asset management S IMMO has considerable successes to
report in asset management: In Romania and Bulgaria - still the two
most challenging markets - the Group was thrilled to welcome
well-known companies such as Atos, Merck and Abbott as new tenants in
its office developments. Sun Offices in Bucharest was awarded a Green
Building Certificate by BREEAM. Further freehold apartments in
S IMMO's Vienna office and residential property Neutor 1010 were also
disposed of, at very favourable prices. The extensive refurbishment
activities of the past few years have had a positive effect on the
German portfolio: In Munich and Berlin approximately 2,200 m² have
been let to well-known tenants such as the Konrad-Adenauer- Stiftung.

Upwards trend in the capital markets After some challenging quarters,
over the past few months there have been definite signs of an upwards
trend in the capital markets. Since the beginning of the year the
S IMMO Share price has increased by 6.0%, to close the third quarter
at EUR 4.77. On 21 November 2012 the S IMMO Share stood at EUR 4.91.
This rise went hand in hand with an increase in trading volumes. In
the coming months the Company will continue the repurchase programmes
for the S IMMO Share and the S IMMO INVEST participating certificate
as planned. S IMMO's dividend distribution start in June 2012
represents a change in long-term strategy with the intention to
continue to pay dividends in the years to come.

Outlook: in excellent shape for 2013 In the currently still
challenging environment, S IMMO benefits from the diversification of
its portfolio by region and property use type. In Germany, at present
the most profitable of its markets, the Group is taking advantage of
the current buoyancy of the residential market. The goal of disposing
of around 5% of the portfolio for at least EUR 100m this year has
already been achieved. S IMMO's plan for 2013 is to do the same. The
Group will use the proceeds of sale, among other things, to reduce
the loan to value ratio from its current level of around 55% to under
50%.

Development activities over the next few years will be concentrated
on the inner city Quartier Belvedere Central project around Vienna's
new Central Station. In the coming years, S IMMO and its partners
will be developing a mixture of office, hotel and retail properties
with gross floor space of around 130,000 m².

Consolidated income statement for the nine months ended 30 September
2012 EUR m / fair value basis

| |01 - 09/2012 |01 - 09/2011 |
|Revenues |146.3 |151.9 |
| Rental income |89.5 |91.8 |
| Revenues from operating costs |27.3 |30.8 |
| Revenues from hotel operations |29.5 |29.3 |
|Other operating income |5.1 |5.1 |
|Expenses directly attributable to properties |-50.3 |-54.5 |
|Hotel operating expenses |-23.3 |-22.5 |
|Gross profit |77.8 |80.1 |
|Income from property disposals |130.1 |40.5 |
|Carrying value of property disposals |-120.4 |-31.3 |
|Gains on property disposals |9.7 |9.2 |
|Management expenses |-12.2 |-12.6 |
|Earnings before interest, tax, depreciation and |75.3 |76.6 |
|amortisation (EBITDA) | | |
|Depreciation and amortisation |-6.8 |-7.0 |
|Gains on property valuation |5.5 |4.3 |
|Operating result (EBIT) |73.9 |74.0 |
|Financing costs |-41.8 |-40.3 |
|Participating certificates results |-9.4 |-9.8 |
|Net income before taxes (EBT) |22.7 |23.9 |
|Taxes on income |-2.3 |-3.7 |
|Consolidated net income |20.4 |20.3 |
| of which attributable to shareholders in parent |19.3 |16.7 |
|company | | |
| of which attributable to non-controlling |1.1 |3.6 |
|interests | | |
|Earnings per share (EUR) |0.29 |0.24 |

|Property information | |30.09.2012 |
|Standing properties |Units |218 |
|Total rented floor space |m² |1,303,841 |
|Gross rental yield |% |6.9 |
|Occupancy rate |% |93.2 |

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