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21st Austria weekly - Andritz, Lenzing (27/07/2021)

21st Austria weekly - Andritz, Lenzing (27/07/2021)
boerse-social.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from boerse-social.com Daily Mail and Mail on Sunday newspapers.

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Lenzing raises outlook for current financial year

Lenzing raises outlook for current financial year
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21st Austria weekly - Immofinanz; Marinomed, Valneva, FACC, AT&S, Lenzing (21/04/2021)


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 financi ....

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