CA Immobilien Anlagen AG expects strong revaluation result of more than EUR 450 m for business year 2019
Vienna, 20.2.2020. CA Immobilien Anlagen AG (“CA Immo”) expects a property revaluation result for business year 2019 as of December 31, 2019 conducted by external independent appraisers to exceed EUR 450 m. Thereof EUR 193.5 m have already been booked in the first nine months of 2019. The expected revaluation result for the fourth quarter will therefore be more than EUR 260 m. The value of CA Immo’s property portfolio amounts to around EUR 5.2 bn as of December 31, 2019. The result reflects the company’s profitable property development business (three project completions in 2019 and five planned project completions in 2020) as well as favourable market conditions in the core markets of CA Immo, in particular in Germany. The largest contributions to the revaluation gain in terms of amount came from both value uplifts linked to construction progress on development projects as well as from investment properties driven by positive market developments, in particular in the core markets of Munich and Berlin.
The final full-year results will be published on 25 March 2020.