Vienna (pta006/21.01.2016/08:02) - -
+ New portfolio management strategy gains traction: the sale of non-core properties - particularly commercial and in the Czech Republic - brings clear focus and greater efficiency
+ 2016 guidance for sales proceeds from non-core properties of between EUR300 mn and EUR350 mn
"Disposals in the commercial sector and portfolio streamlining in the residential sector are an important part of our strategy. We are focusing on the residential market in Germany and Austria, which has proven to hold the greatest growth potential for us and we want to continue to invest here", says Wolfgang Beck, CEO of conwert Immobilien Invest SE. "Portfolio streamlining has enabled us to generate non-core sales proceeds of around EUR234 mn in the 2015 business year with a slightly positive sales margin."
conwert has clearly surpassed its 2015 sales target through the sale of properties in the commercial sector, the closing of the sale of the entire portfolio in the Czech Republic and the sale of other non-core properties. Even when the sale of the Czech portfolio is excluded, the non-core disposals proceeds still exceed EUR190 mn. The 2015 guidance for sales proceeds from non-core properties was EUR150-200 mn.
The management team is planning further reductions in the non-core holdings in 2016. This is set to generate sales proceeds of EUR300 mn to EUR350 mn.
This release contains forward-looking estimates and statements that were made on the basis of the information available at this time. Forward-looking statements reflect the point of view at the time they are made. We would like to point out that the actual circumstances and, consequently, the actual results realised at a later date may differ from the forecasts presented here for a variety of reasons.(end)