May 29, 2019 / 01:00PM GMT
Operator
Good day, ladies and gentlemen, and welcome and thank you for joining the IMMOFINANZ Conference Call on the Q1 2019 figures. (Operator Instructions)
I would now like to turn the conference over to Dr. Oliver Schumy, the CEO of IMMOFINANZ. Please go ahead, sir.
Oliver Schumy - IMMOFINANZ AG - CEO & Chairman of the Management Board
Thank you. Dear ladies and gentlemen, welcome to our conference call on IMMOFINANZ results for the first quarter of 2019. These results demonstrate that we are continuing the very strong development from the previous year.
On Slide 2 is a summary of our highlights for the first 3 months, and we are quite satisfied with the improvements. Our properties had a solid occupancy rate of roughly 95%, and rental income increased by more than 10% to EUR 65.2 million. Adjusted for the effects from the initial application of IFRS 16, we see a plus of 4.1%. The result of asset management rose by nearly 12% to more than EUR 50 million.
The development of our sustainable funds from operations also underscores our
Q1 2019 Immofinanz AG Earnings Call Transcript
May 29, 2019
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