CA Immo was “sure that we chose the right approach” when it came to the special dividend, the CEO remarked in response to a question. It was thoroughly discussed by the board of directors, of which she was not a member at the time. Regarding the shareholder Petrus Advisors’ action for annulment and annulment against the special dividend at the Vienna Commercial Court, which was published today in the official journal of the “Wiener Zeitung,” she reminded that there had been previous disagreements with this shareholder, but that these were in favor of the CA Immo. Petrus Advisors filed a lawsuit on December 30th, and CA Immo was served on March 18th.
Last year, CA Immo’s real estate assets increased by 12% to EUR 6.25 billion, with EUR 3.73 billion coming from Germany, EUR 2.03 billion from Central and Eastern Europe, and EUR 497 million coming from Austria. Overall, the total return was 4.6 percent, with Germany accounting for 3.3 percent, CEE for 6.1 percent, and Austria for 5.3 percent.
Profitable non-strategic property sales as part of the strategic capital rotation program should continue to produce a positive sales result in 2022, with an impact on EBITDA and liquidity inflow. According to the annual report, one also intends to “concrete the financial yearly targets for 2022 during the year.” Last year, three properties in CEE and two in Vienna were sold above book value, according to the CFO. As a result, they will leave the Slovakian market in 2021.
Making a choice on Romania’s portfolio, which has been scrutinized since November in terms of all strategic options, could take some time. According to CEO Keegan Viscius, this is not a quick procedure. Work is still being done to determine whether it makes sense to keep or sell the full portfolio or sections of it. Romania accounts for EUR 395 million of CA Immo’s total portfolio of EUR 6.25 billion. On the Vienna Stock Exchange this afternoon, CA Immo, which is part of the leading index ATX, was valued at EUR 2.99 billion.