The total portfolio of Immofinanz here comprises 30 properties, 23 standing investments and seven pipeline projects. The standing investment portfolio consists of 11 office buildings (13.0% of the total office portfolio) and 12 retail properties (14.0% of the total retail portfolio).
The occupancy rate of the Hungarian portfolio stood at 91.4% by the end of March 31, up from 90.7% on December 31.
At the end of the first quarter of the 2017 financial year, rental income in Hungary totaled EUR 6.9 million, accounting for 12.1% of the group’s total rental income, Immofinanz added.
Globally the net profit of the group rose to EUR 80.7 mln, up from a EUR 240.7 mln loss in the first quarter of the preceding year. Net profit from continuing operations increased to EUR 101.7 mln. Group-wise, a sale-related decline of 1.9% was observed in rental income, like-for-like rental income grew by 3.7%, while rental income from Russia increased by 16.6%. At the end of the first quarter, the occupancy rate (excluding Russia) reached 91.9%.
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