ARTICLES LABELLED WITH TAG Austria

Following the completion of the mandatory offer by CPI Property Group in relation to S Immo, the Supervisory Board and the acting Chairman of the Management Board, Dr. Bruno Ettenauer, have mutually agreed that Mr. Ettenauer's Management Board contract terminated at the end of 6 September 2022.

CA Immo has reported strong second-quarter results, continuing the positive business development of the previous quarters. In a challenging market environment, CA Immo increased its recurring earnings (FFO I) in the 1st half-year by 7.9% compared to the previous year, to €73.9 million. Rental income in the first six months was stable at €121.1 million (+1.0% y-o-y), reflecting recent portfolio additions and organic growth despite property sales. Consolidated net income improved by 28.5% to €220.1 million. Following the strong first half-year, CA Immo expects recurring earnings (FFO I) of more than €125 million in the 2022 business year.

CPI Property Group (CPIPG) has become the owner of approximately 79.2% of the shares of the Austrian company S Immo. CPIPG, in its mandatory takeover offer, offered to buy out the shares of S Immo for €23.50 per share. This offer, available until August 12, 2022, was taken up by holders of approximately 36.66% of S Immo shares.

Günther Artner (49) has taken over the management of the Commercial Real Estate business of Erste Group and Erste Bank Oesterreich as of 1 July 2022. Artner thus succeeds Patrick Zehetmayr, who is leaving Erste Group.

Immofinanz is presenting an updated strategy following the majority takeover by CPI Property Group. The company plans to continue its value-creating growth strategy with a strong focus on retail properties and office solutions. As part of an active portfolio management, properties with a value of approximately €1 billion will be sold and the proceeds invested in higher-yielding assets. The successful course of the company will be continued on Immofinanz’s robust financial base together with the strengthening of ESG activities. Immofinanz will benefit in pursuing this strategy from close cooperation with the CPI Property Group and the related synergy effects.

After the successful completion of the mandatory takeover offer of CPI Property Group on Immofinanz the Supervisory Board and the members of the Executive Board Dietmar Reindl and Stefan Schönauer mutually agreed today in relation to the Change of Control Event, that their contract as board members shall end on 8 June 2022. Dietmar Reindl and Stefan Schönauer will continue to work for the Company as advisors to the Executive and Supervisory Board until 31 December 2022.

Immofinanz has announced that the Supervisory Board has appointed Radka Doehring as a member of the Executive Board as of 1st May 2022 for three years.

People have started to return to their usual shopping destinations. That is reflected in the positive business development of SES Spar European Shopping Centers during the second year of the pandemic. Compared to 2020, significant growth was recorded in retail partner sales, visitor footfall and average spend per purchase. This positive upward trend was recorded by SES in all countries in which it operates centres. Despite the pandemic, in 2021, a total of €22 million was invested in maintenance and sustainable measures relating to the operation of the centres, as well as in project development.

Property group Immofinanz has presented its new residential brand On Top Living during MIPIM, the biggest real estate fair held in Cannes. The company plans to develop up to 12,000 smart and sustainable apartments at affordable prices in the medium term. 

Immofinanz today received a request to convene an extraordinary general meeting, together with an agenda covering elections to the Supervisory Board. According to the convocation request, CPIPG holds an investment (directly and indirectly) of approximately 54.86% in Immofinanz and recommends (via its subsidiary WXZ1 a.s.) two new members for election by the general meeting.