In the first three months of 2020, CA Immo recorded growth in rental income of 7.2% to € 62.4 m (2019: 58.3 m).
The net result from renting after the first quarter was € 49.6 m (2019: € 46.7 m), a rise of 6.1% on the previous year.
The efficiency of letting activity, measured as the operating margin in rental business (net rental income to rental income), stood at 79.4% slightly below the previous year’s value of 80.2%.
The book value of property assets at € 5.2 bn
Property assets include investment properties (87% share of the total portfolio) and investment properties under development (13%).
The value of the investment portfolio increased to roughly € 4.5 bn (31 December 2019: € 4.3 bn) as a result of the takeover of further project completions, and is distributed among CEE (45%), Germany (43%) and Austria (12%).
The portfolio yield was 5.4% and the occupancy rate stood at 95.2%.
Investment properties under development include projects under development and land reserves (incl. short-term property assets) with a total book value of around € 682.6 m, of which Germany accounts for 97% and CEE for 3%.