BERLIN (dpa-AFX) - TAG Immobilien AG (TEG.F), a German property company, reported that its preliminary net profit for fiscal year 2024 was 122.1 million euros compared to a loss of 410.9 million euros in 2023.
Annual funds from operations I or FFO I was 175.1 million euros up from 171.7 million euros last year. FFO I per share was 1.00 euros up from 0.98 euros in the previous year.
But FFO II per share was 1.36 euros down from 1.46 euros in the prior year.
Rental income, net actual rent, increased to 360.2 million euros from 350.8 million euros in the prior year.
All guidance for the 2025 financial year and the dividend forecast for fiscal year 2024 of 0.40 euros per share have been confirmed.
The final, audited results will be published as planned with the annual report for the 2024 financial year, on 25 March 2025.
Nearly 2,000 residential units were sold in Poland in 2024, achieving a total sales volume of EUR 358 million. Additionally, there was a year-on-year increase in sales prices in major Polish cities, ranging from approximately 5% to 10%.
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