EQS-Adhoc: TAG Immobilien AG: Net income from sales in Poland and FFO II significantly exceed guidance for FY 2024

Net income from sales in Poland and FFO II significantly exceed guidance for FY 2024

Hamburg, 25 February 2025

Based on preliminary and unaudited results, the following guidance was significantly exceeded in the 2024 financial year:

• Adjusted net income from sales in Poland: EUR 66.2m, compared to the guidance of EUR 46-52m (c. +35%)
• FFO II: EUR 239.4m, compared to the guidance of EUR 217-223m (c. +9%)

The increased adjusted net income from sales in Poland was mainly due to higher selling prices and the therefore better than expected gross profit margins of residential units handed over. In addition, the net income benefitted from the sale of undeveloped land and from increased interest income from loans to joint ventures as well as from short-term cash investments.

As a result of the higher than expected adjusted net income from sales in Poland of EUR 66.2m (previous year: EUR 82.8m), FFO II, which also includes the rental result FFO I of EUR 175.1m (previous year: EUR 171.7m) and the net income from sales in Germany of EUR -1.9m (previous year: EUR 1.1m), increased to EUR 239.4m (previous year: EUR 255.6m).

Further information on the 2024 financial year can be found in a press release that will also be published today. The final, audited results will be published as planned with the annual report for the 2024 financial year, on 25 March 2025.

The definition of the adjusted net income from sales in Poland and FFO II can be found in the Q3 2024 interim statement, on pages 19 and 20.

 

Contact:
TAG Immobilien AG
Head of Investor&Public Relations Dominique Mann
Tel. +49 (0) 40 380 32 - 305
ir@tag-ag.com