In Q1-Q3 2022, CA Immo was able to increase its recurring earnings (FFO I) by 2.4% year-on-year to €102.5 million in the third quarter. Rental income rose by 2.5% to €158.1 million in the first nine months. The recent portfolio expansions and higher rental income from investment properties thus more than offset the effects from portfolio sales. Consolidated net income rose by 40% to €267.5 million, driven among other things by a strong revaluation result (Q1-Q3 2021: €180.4 million). The positive development in the third quarter was mainly due to the good letting business and the takeover of two project completions into the own portfolio. Following the strong first nine months, CA Immo confirms its earnings forecast for 2022 and expects recurring earnings (FFO I) of more than €125 million.

CA Immo has successfully signed the sale of seven office buildings in Bucharest. As CBRE Romania confirmed to Property Forum, the buyer is Pavăl Holding, the investment vehicle of the Pavăl family which also owns Dedeman, the biggest Romanian DIY chain. This transaction marks CA Immo's exit from the Romanian market.

Since the beginning of the year, five companies have decided to lease a total of 10,000 sqm of office space in Warsaw Spire C, which is almost half of the building. The majority of contracts are renewals of existing leases, two contracts were concluded as green leases. The occupancy rate in Warsaw Spire C is currently over 96%.

Susanne Steinböck, Group Head of Corporate Communications and Sustainability at CA Immo talked to Property Forum about the current state of affairs in the European office market, its attractiveness and energy-related challenges it has to face in the nearest future.

CA Immo Hungary will use a 3D Digital Twin based solution developed by Romanian startup Bright Spaces. CA Immo will have five of its office buildings showcased and managed through virtual web-based platforms, emphasising its readiness to adapt the leasing and marketing process in response to the needs of today's clients.

CA Immo has reported strong second-quarter results, continuing the positive business development of the previous quarters. In a challenging market environment, CA Immo increased its recurring earnings (FFO I) in the 1st half-year by 7.9% compared to the previous year, to €73.9 million. Rental income in the first six months was stable at €121.1 million (+1.0% y-o-y), reflecting recent portfolio additions and organic growth despite property sales. Consolidated net income improved by 28.5% to €220.1 million. Following the strong first half-year, CA Immo expects recurring earnings (FFO I) of more than €125 million in the 2022 business year.

This year CA Immo has already closed 18 lease transactions in total in Prague. These are mostly new leases and expansions with an office space of almost 16,200 sqm. Also, both new office buildings Mississippi House and Missouri Park, which have been completed in summer of 2021, are fully let now.  

Andrzej Mikołajczyk, Managing Director of CA Immo Poland has answered Property Forum’s questions about the current attractiveness of Polish office assets, the expected supply gap and recent investment transactions.

With profitable sales of non-strategic properties and good progress in the implementation of the development pipeline, CA Immo's operating performance remained stable in the first quarter, seamlessly from the previous quarters. The strong sales result combined with lower indirect costs led to an increase in operating profit of around 6%. In addition, a significant increase in revaluation results helped to more than triple consolidated net income compared with the previous year.

At €479.8 million, CA Immo reached its highest consolidated net income in the company's history, up 89% on the previous year (2020: €254.0 million), mainly due to a high revaluation result. The company published its latest financial results.