25.04.2021 Immofinanz: Reals Estate company Immofinan recorded an increase in rental income and results of property sales in 2020 despite the Covid-19 crisis. Rental income rose by 3.1% to Euro 288.6 mn due to the strong growth in the portfolio during the second half of 2019, but a crisis-related increase in receivables write-offs from asset management led to substantially higher property expenses. The results of asset management totalled Euro 206.4 mn in 2020 and reflect the previous year despite these write-offs. The pandemic also had a negative influence on the valuation of investment property: revaluations totalled Euro -166.5 mn, compared with clearly positive results in the previous year (2019: Euro 193.3 mn). This reduction represents roughly 3.2% of the total property portfolio. In addition, the continuing decline in the price of the S IMMO share during 2020 led to a write-down of Euro -88.6 mn in this investment to Euro 363.6 mn. Net loss for the 2020 financial year amounted to Euro -165.9 mn (2019: + 352.1 mn). In view of the Group’s solid capital base, the Executive Board will make a recommendation to the 28th annual general meeting on 18 June 2021 to distribute a dividend of Euro 0.55 per share.