EANS-Adhoc: S IMMO AG /sucessful half-year results for 2013

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Mid Year Results/6-month report
27.08.2013

S IMMO AG: successful half-year results for 2013

- Increased efficiency - administrative and property-related cost
reductions - Gross profit increased to EUR 55.1m - Funds from
operations up by 14.1% - Net income for the period up again to
EUR 16.0m - Property sales target already largely achieved

For stock exchange listed S IMMO AG (Bloomberg: SPI:AV, Reuters:
SIAG.VI) the results for the first half of 2013 once again proved the
success of its activities. Major performance indicators were up
again. The excellent results are in line with the targets for the
current financial year.

Gross profit up again Total income for the first half of 2013 was
EUR 97.0m compared with EUR 98.6m in the same period last year. As
expected, the rental income of EUR 59.0m was lower than in the first
half of 2012 (EUR 60.6m), because of the property sales. The property
portfolio was reduced by 5.6%, however rental income fell by only
2.7%. Revenues for the half year from hotel operations increased by
2.9% to EUR 19.2m (first half of 2012: EUR 18.6m). As a result, the
gross profit from hotel operations improved by 14.4% to EUR 3.8m
compared with EUR 3.3m a year ago. This and the reduced
property-related expenses more than compensated for the lower rental
income. Gross profit rose to EUR 55.1m, a 3.6% improvement on the
EUR 53.2m achieved in the first half of 2012.

Successful property sales S IMMO's plan for 2013 is to sell around 5%
of its property portfolio. As at 30 June 2013, this target was
already largely achieved. In the first half year, one apartment,
three residential properties and one retail property in Austria and
Germany were sold. Total sale proceeds for the period came to
EUR 83.8m compared with EUR 97.4m in the first half of 2012. Gains on
disposals came to EUR 2.4m, as against EUR 5.8m in the same period
last year. Compared with the estimated values as at 30 September
2012, the gains on disposal were EUR 7.4m.

Number one in efficiency In addition to reduced property-related
expenses, administrative expenses were also once again cut back: for
the first half of 2013 they came to EUR 7.6m, compared with EUR 8.1m
in the same period last year. EBITDA was EUR 49.9m (first half of
2012: EUR 50.9m), and EBIT came out at EUR 48.0m (first half of 2012:
EUR 51.0m). EBT increased to EUR 17.6m, compared with EUR 15.9m for
the same period last year, and the EBT margin was a very satisfactory
18.2%. As a result of the successful property sales, the resulting
reduction in borrowing and lower interest rates compared to the first
half of 2012, the financial result for the first half of 2013
improved by 14.7%, from EUR -28.6m in the first half of 2012 to
EUR -24.4m. Overall, net profit for the first half of 2013 rose 6.2%
to EUR 16.0m, compared with EUR 15.1m in the same period last year.

Key performance indicators up The positive earnings performance was
also reflected in higher funds from operations (FFO). In the first
half of 2013 FFO was up by 14.1%, to EUR 18.5m, compared with
EUR 16.2m a year earlier. The cost reductions discussed above also
resulted in a further improvement in net operating income (NOI) for
the period, which totalled EUR 51.5m, compared with EUR 49.4m for the
first six months of 2012. As at 30 June 2013 operating cash flow
increased by 6.5% to EUR 49.2m, compared with EUR 46.2m a year
earlier. In the first half of 2013 both book value per share (balance
sheet NAV) and EPRA NAV rose again: Book value as at 30 June 2013
stood at EUR 7.47 (31 December 2012: EUR 7.17) per share, while EPRA
NAV was EUR 9.31 (31 December 2012: EUR 9.18) per share.

Start of further repurchase programmes The S IMMO Share again
performed better than the ATX and IATX, although price movements
during the period were predominantly sideways. It closed on 30 June
2013 at EUR 4.729. In the second quarter of 2013 S IMMO started an
open-ended repurchase programme for participating certificates. A
further repurchase programme for S IMMO Shares was also decided on,
authorising the repurchase of a further 3% of the share capital from
09 July 2013 until 18 December 2013 at the latest.

Outlook for 2013 confirmed S IMMO AG confirms its goal for the
financial year 2013 - to build and improve on the already excellent
results of 2012. The Group develops and operates properties across
four different property use types in capital cities within the
European Union. This diversification makes it possible to take
advantage of differences in real estate cycles, at present
principally in Germany and Austria. A part of the proceeds from
property sales is used to take up attractive investment
opportunities, particularly in Berlin. In Vienna the Company is
focusing on the Quartier Belvedere Central project, which will be
implemented together with partners at Vienna Central Station.

Consolidated income statement for the six months ended 30 June 2013
EUR m / fair value basis

| |01 - 06/2013 |01 - 06/2012 |
|Revenues |97.0 |98.6 |
| Rental income |59.0 |60.6 |
| Revenues from operating costs |18.8 |19.4 |
| Revenues from hotel operations |19.2 |18.6 |
|Other operating income |3.5 |3.7 |
|Expenses directly attributable to properties |-30.1 |-33.9 |
|Hotel operating expenses |-15.4 |-15.3 |
|Gross profit |55.1 |53.2 |
|Income from property disposals |83.8 |97.4 |
|Carrying value of property disposals |-81.4 |-91.5 |
|Gains on property disposals |2.4 |5.8 |
|Management expenses |-7.5 |-8.1 |
|Earnings before interest, tax, depreciation and |49.9 |50.9 |
|amortisation (EBITDA) | | |
|Depreciation and amortisation |-4.7 |-4.5 |
|Result from property valuation |2.8 |4.7 |
|Operating result (EBIT) |48.0 |51.0 |
|Financing costs |-24.4 |-28.6 |
|Participating certificates result |-5.9 |-6.5 |
|Net income before tax (EBT) |17.6 |15.9 |
|Taxes on income |-1.6 |-0.8 |
|Consolidated net income for the period |16.0 |15.1 |
| of which attributable to shareholders in parent|14.5 |14.3 |
|company | | |
| of which attributable to non-controlling |1.5 |0.8 |
| interests | | |
|Earnings per share (EUR) |0.22 |0.21 |

|Property information | |30 June 2013 |
|Standing properties |number |214 |
|Total usable space |m² |1,279,440 |
|Gross rental yield |% |6.8 |
|Occupancy rate |% |89.4 |

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