- NAV/Share ratio up by 14% to 13,41 €
- EBT up by 24% to € 59,1 m
- Property assets up by 18% to € 530 m
- Equity up by 140% to € 583 m
Development of NAV
EBITDA
Since October 2006 the shares of CA Immo International have been listed in the Prime Segment of the Vienna Stock Exchange. The IPO was based on a NAV/share of € 13. In 2006 the NAV/share climbed by 14% overall or, excluding IPO costs, by more than 18%. The increase of this indicator underlines the company‘s vigorous growth; it was driven by income from properties, which were fully let in the main, the successful sale of the Charles de Gaulle property in Bucharest, and the rise in value of the property portfolio (+11% like for like).
The property assets rose by 8% to € 530 m (net of disposals, acquisitions, project development investments and appreciation). Gross revenues also increased, by 52%, from € 31.3 m to € 47.6 m. The NOI reached € 34 m, which corresponds to 71% of gross revenues or 6.7% of the portfolio‘s market value. The EBITDA advanced by 55% to € 32 m. The operating result (EBIT) climbed by 6% to close at € 63.8 m, and the consolidated net income increased to € 47.8 m despite appreciably higher deferred taxes. The operating cash flow increased
by 42% to € 26.9 m.