EANS-News: S IMMO AG /profit up again

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Financial Figures/Balance Sheet/Preliminary results

Wien (euro adhoc) - Preliminary results for S IMMO AG: profit up
again

- Earnings per share up more than 13%
- All-time high gross profit
- Consolidated net income increased to EUR 28.1m
- Dividend increase planned

After a very successful financial year 2012, S IMMO AG (Bloomberg:
SPI:AV, Reuters: SIAG.VI) continued its good performance in 2013.
Earnings per share increased highly satisfactorily by 13.1% to
EUR 0.41 (2012: EUR 0.36). Administrative expenses were reduced once
again by more than 8%. The ratio of EBITDA to property value came to
5.7%, which compared with the industry average is a further
demonstration of S IMMO AG's high efficiency.

Ernst Vejdovszky, CEO of S IMMO AG, comments: "These preliminary
results show that our record of successes is sustainable. We have
improved our key indicators every year since 2010, and have every
intention of continuing the trend. Our business model has proved its
value, and makes us optimistic for the future."

Gross profit up In 2013 S IMMO AG sold twelve properties; the sale
proceeds came to EUR 128.1m (2012: EUR 132.2m), which was
significantly better than the target. The profits on sale came to
EUR 6.4m (2012: EUR 10.8m).

Rental income for the financial year 2013 came to EUR 116.7m (2012:
EUR 118.5m), the reduction reflecting the property disposals as
expected. Income from hotel operations (Vienna Marriott and Budapest
Marriott hotels) came to EUR 40.2m (2012: EUR 42.0m). Cost reductions
helped improve the gross profit from hotel operations by 6.0% to
EUR 10.5m (2012: EUR 9.9m). The overall gross profit increased from
EUR 104.4m in 2012 to EUR 109.6m in 2013 which represents an all-time
high in S IMMO AG's history. The increase was attributable to the
improvement in the gross profit from hotel operations together with a
reduction in property-related costs.

Positive revaluation results Market sentiment in Germany continued
positive in 2013, and a major part of the valuation results in
Germany was attributable to revaluation gains in connection with
property sales. While revaluation results in Germany and Austria were
positive, devaluations were necessary in Central and Southeastern
Europe, above all on office properties in Budapest.

EBIT came out at EUR 95.8m (2012: EUR 106.8m). The effects on EBIT of
the reduced size of the property portfolio were in part compensated
for by cost reductions.

Further increase in consolidated net income Financing costs
(excluding participating certificate results) for the financial year
2013 amounted to EUR 53.9m (2012: EUR 61.8m), including largely
non-cash foreign exchange losses of EUR 0.8m (2012: EUR 2.0m), which
were mainly attributable to the change in value of the Hungarian
forint against the euro.

For the whole of the financial year 2013, the Group's consolidated
net income came out at a very satisfactory EUR 28.1m (2012: EUR
26.0m), an increase of 7.8%.

Dividend increase planned At the Annual General Meeting on 11 June
2014 the Management Board will again propose the distribution of a
dividend. In Management's opinion, the improved results justify a
higher dividend.

Outlook S IMMO will continue to pursue its tried-and-tested strategy
in the current year. Friedrich Wachernig, Member of S IMMO AG's
Management Board, comments: "Increasingly, we are seeing a recovery
in our markets - optimism is in order again. Our many years of
accumulated expertise and competence enable us to put property cycles
to strategic use, so that we can continue in future to profit from
the various different developments. In the coming months we see the
greatest potential in Berlin, and are planning investments in new
projects there."

S IMMO AG's final results for the year will be presented on 29 April
2014. Preliminary consolidated income statement (in accordance with
IFRS) for the year ended 31 December 2013 (EUR m)

| |01 - 12/2013 |01 - 12/2012 |
|Revenues |193.7 |196.7 |
| Rental income |116.7 |118.5 |
| Revenues from operating costs |36.8 |36.2 |
| Revenues from hotel operations |40.2 |42.0 |
|Other operating income |6.2 |6.9 |
|Expenses directly attributable to properties |-60.6 |-67.0 |
|Hotel operating expenses |-29.7 |-32.1 |
|Gross profit |109.6 |104.4 |
|Proceeds of property disposals |128.1 |132.2 |
|Carrying value of property disposals |-121.7 |-121.4 |
|Gains on property disposals |6.4 |10.8 |
|Management expenses |-15.1 |-16.4 |
|Earnings before interest, tax, depreciation and |100.9 |98.8 |
|amortisation (EBITDA) | | |
|Depreciation and amortisation |-12.0 |-8.8 |
|Gains on property valuation |6.9 |16.8 |
|Operating profit (EBIT) |95.8 |106.8 |
|Financing costs |-53.9 |-61.8 |
|Participating certificates result |-9.3 |-12.8 |
|Net income before tax (EBT) |32.6 |32.2 |
|Taxes on income |-4.6 |-6.2 |
|Consolidated net income |28.1 |26.0 |
| of which attributable to shareholders in parent|27.3 |24.3 |
|company | | |
| of which attributable to non-controlling |0.7 |1.7 |
| interests | | |
|Earnings per share (EUR) |0.41 |0.36 |

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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company: 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