SPARKASSEN IMMOB. : Preliminary results S IMMO AG: Consolidated net income for …

•  increase of 52.4%
• Consolidated net income for year rose from EUR 2.1m
to EUR 21.3m 
• 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 and
Operating profit ( 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 for the year was also very satisfactory and rose
to EUR 96.0m, compared with EUR 74.2m in 2010. The from
investing activities was EUR 4.5m, compared with EUR -36.5m
in 2010, while the from financing activities in 2011
amounted to EUR -124.9m (2010: EUR -84.4m. 

S IMMO’s in 2011 improved considerably – by 54.6% – to EUR
28.9m (2010: EUR 18.7m. This gives a very respectable
related to the Share price of 9.4%. before 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 to bring it into line with current
earnings.  

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

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

of property disposals 

-34. 9

-92.8

Gains on property disposals

11.6

9.9

Management expenses

-17.2

-18. 7

101.4

71.4

Depreciation and amortisation

-9.3

-10.1

Gains / losses on property valuation 

0. 1

-0.8

Operating result (

92.3

60.5

Financing costs 

-51.5

-41. 2

results

-11.2

-10.2

Net income before taxes ( 

29.7

9.1

Taxes on income 

-8. 4

-7.0

Consolidated net income for the period

21.3

2.1

of which attributable to shareholders in parent
company

20.0

1. 8

of which attributable to non-controlling
interests 

1.2

0.3

Earnings per share (EUR 

0.29

0.

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