May 13, 2020 / 3:07 PM / 3 months ago

BRIEF-Immofinanz Sees Negative Effect From Property Valuation For Q1

May 13 (Reuters) - Immofinanz AG:

* IMMOFINANZ WITH OUTLOOK ON Q1 2020: SUBSTANTIAL INCREASE IN RESULTS OF OPERATIONS, NEGATIVE EFFECT FROM PROPERTY VALUATION EXPECTED

* EXPECTS A SUBSTANTIAL IMPROVEMENT IN RENTAL INCOME AND RESULTS OF OPERATIONS FOR Q1 OF 2020

* COVID-19 PANDEMIC IS EXPECTED TO RESULT IN NEGATIVE EFFECTS OF EUR -45.0 MILLION FROM VALUATION OF STANDING INVESTMENTS (WHICH REPRESENTS APPROX. 0.85% OF INVESTMENT PROPERTY AT END OF MARCH 2020)

* OUTLOOK Q1 2020: VALUATION RESULTS ARE EXPECTED TO RESULT IN NEGATIVE EARNINGS FOR PERIOD Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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