EANS-News: S IMMO AG / Sucessful start into 2016

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3-month report

S IMMO AG: Successful start into 2016

· Significant increase in value for residential properties in Berlin
· Rental income up
· FFO I advances by 39%
· Net income for the period increases to EUR 27.6m

Following the record annual results in 2015, stock exchange listed S
IMMO AG (Bloomberg: SPI:AV, Reuters: SIAG.VI) continued the positive
trend in the first quarter of 2016. According to Ernst Vejdovszky,
CEO of S IMMO AG, "We are seeing highly dynamic price development on
Berlin's residential property market. Under these conditions, our
residential properties enjoyed significant increases in value, which
in turn led to a sharp rise in our results. But other key operating
figures also developed very positively."

Development of earnings During the first three months of 2016, S
IMMO's total revenues amounted to EUR 46.3m (Q1 2015: EUR 44.3m),
exceeding the prior-year figure. The rental income included in this
figure came to EUR 29.2m (Q1 2015: EUR 27.2m). Gross operating profit
from hotel operations totalled EUR 0.4m (Q1 2015: EUR 1.2m). This
decline is due to the overhaul of the Vienna Marriott Hotel, which
involves a temporary reduction in room occupancy.

The gross profit was EUR 24.0m (Q1 2015: EUR 23.3m). EBITDA increased
to EUR 20.3m in the first quarter of 2016 (Q1 2015: EUR 19.7m). This
increase can mainly be attributed to the rise in rental income as
well as a strong like-for- like performance.

Revaluation gains developed very positively, amounting to EUR 36.9m
as at 31 March 2016 (Q1 2015: EUR 0.8m). This was due to the positive
development of the Berlin residential property market. Overall, EBIT
was up significantly on the previous year at EUR 55.3m (Q1 2015: EUR
18.6m).

EBT came to EUR 34.7m, which is also considerably higher than the
prior-year figure (Q1 2015: EUR 9.6m). Due to the effects described
above, the net income for the period increased by EUR 19.5m to EUR
27.6m (Q1 2015: EUR 8.1m). Earnings per share also improved and came
to EUR 0.40 (Q1 2015: EUR 0.11).

FFO I, which is a key indicator for the operating performance of a
property company and does not include the sale of standing
properties, rose by 39% and totalled EUR 8.8m as at 31 March 2016 (Q1
2015: EUR 6.3m).

Capital market The S IMMO share posted a slight loss of 0.62% during
the first quarter of the year and closed at EUR 8.149 as at 31 March
2016. However, the share rallied in the subsequent weeks and was
listed at EUR 8.710 on 20 May 2016.

In view of the excellent results for 2015, the Management Board will
submit a proposal to raise the dividend to EUR 0.30 per share to the
Annual General Meeting on 03 June 2016. Sustainability and
predictability are key factors in S IMMO's dividend policy.

Outlook for 2016 The first quarter saw very pleasing revaluations in
Berlin, and S IMMO continues to see very dynamic development on this
market. In addition, S IMMO is working on various development
projects. For instance, an extensive renovation of the Sun Plaza
shopping centre is already in progress in Bucharest - a total of
20,000 m² is being redesigned in order to create space for up to 40
more shops. Preparations are also under way for several exciting
projects in Berlin and Vienna that will get off the ground this year.

Friedrich Wachernig, member of S IMMO's Management Board, comments:
"We started this year full of optimism and our performance in the
first quarter only strengthened this. Our strategy is opening up lots
of potential and the environment for property companies remains
highly favourable. As a result, our outlook for the rest of 2016 is
very positive."

S IMMO AG As Austria's first stock exchange listed real estate
investment company, S IMMO AG has stood for expertise, a strong
portfolio, and profitable growth since 1987. The company invests in
commercial property (office, retail, and hotel) as well as
residential property in four regions (Austria, Germany, and Central
and Southeastern Europe). S IMMO AG's strategic core shareholders are
Erste Group and Vienna Insurance Group.

Consolidated income statement for the period 01 January 2016 - 31
March 2016 in EUR millions / fair value method

01-03/2016 01-03/2015
Revenues 46.3 44.3
whereof rental income 29.2 27.2
whereof revenues from operating costs 9.9 8.5
whereof revenues from hotel operations 7.2 8.7
Other operating income 0.5 0.5
Expenses directly attributable to properties -16.1 -14.1
Hotel operating expenses -6.8 -7.4
Gross profit 24.0 23.3
Income from property disposals 1.4 6.7
Book value of disposals -0.8 -6.7
Gains or losses on property disposals 0.5 0
Management expenses -4.2 -3.7
Earnings before interest,tax, depreciation
and amortisation (EBITDA) 20.3 19.7
Depreciation and amortisation -1.9 -1.9
Results from property valuation 36.9 0.8
Operating result (EBIT) 55.3 18.6
Financing costs -20.1 -13.0
Financing income 0.8 4.2
Results from companies measured at equity 0 0.8
Participating certificates result -1.4 -1
Net income before tax (EBT) 34.7 9.6
Taxes on income -7.1 -1.5
Consolidated net income for the period 27.6 8.1
of which attributable to shareholders
in parent company 27.0 7.5
of which attributable to non-
controlling interests 0.6 0.6

Earnings per share (in 0.40 0.11
EUR)

Key data on properties 31.03.2016
Portfolio properties number 225
Total useable space millions of m2 1.3
Gross rental yield % 6.5
Occupancy rate % 93.0

Further inquiry note:
Investor Relations:
Andreas J. Feuerstein
Tel.: +43(0)50 100-27556
Fax: +43(0)50 100 9-27556
E-Mail: andreas.feuerstein@simmoag.at
www.simmoag.at

Corporate Communications:
Elisabeth Wagerer
Tel.: +43(0)50 100-27867
Fax: +43(0)50 100 9-27867
E-Mail: Elisabeth.Wagerer@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