Immofinanz
New logo since 2015
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| Aktiengesellschaft | |
| Traded as | |
| ISIN | AT0000809058 |
| Industry | Real estate |
| Predecessors |
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| Founded | 19 April 1990 in Vienna, Austria |
| Headquarters | Vienna, Austria |
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Areas served
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Key people
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| Revenue | €546.6m (2015) |
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Number of employees
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853 (2015) |
| Subsidiaries |
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| Website | http://immofinanz.com |
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Footnotes / references |
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IMMOFINANZ is a commercial real-estate company that focuses its activities on the retail and office segments of eight core markets in Europe: Austria, Germany, Czech Republic, Slovakia, Hungary, Romania, Poland and Moscow. The core business includes the management and development of properties. The company has a real estate portfolio of approx. EUR 5.5 billion that covers more than 380 properties, as of 31 October 2015. The company is listed on the stock exchanges in Vienna (leading ATX index) and Warsaw.
As of October 2015, it is a member of the Austrian Traded Index (ATX), the index of the twenty largest companies traded on the Viennese stock exchange. 'Immo' is short for Immobilien, German for property.
C & S Immobilien Anlagen Aktiengesellschaft was established in April 1990 as a joint venture company owned by Constantia Privatbank and Bankhaus Schoeller & Co. In November 1994, C & S Immobilien Anlagen Aktiengesellschaft was merged into IMMOFINANZ, which had previously been established with the name of CPAG Immobilienvermietungs GmbH, had become a public company and been renamed C & S Realitäten Anlagen Aktiengesellschaft. Following the merger with C & S Immobilien Anlagen Aktiengesellschaft, the name was changed to IMMOFINANZ IMMOBILIEN ANLAGEN AKTIENGESELLSCHAFT.
In 1991, the shares in C & S Immobilien Anlagen Aktiengesellschaft were admitted to the Second Regulated Market on the Vienna Stock Exchange, and from 1994 the shares of IMMOFINANZ. In 1996 the first capital increase was carried out and in the same year IMMOFINANZ shares were admitted to the Official Market on the Vienna Stock Exchange. In September 2006, the name was changed to IMMOFINANZ AG. In May 2013, the secondary listing of the shares on the Warsaw Stock Exchange took place.
IMMOFINANZ is present today in Austria, Germany, the Czech Republic, Slovakia, Hungary, Romania, Poland and Moscow. The core business includes the asset management and development of properties. Active portfolio management and utilisation of profitable sales opportunities ensures ongoing optimisation of the standing investment portfolio. With the sale of the entire logistics portfolio, which was completed at the beginning of February 2016, IMMOFINANZ placed its strategic focus on the office and retail asset classes in its core markets.
In the summer of 2008, international real estate and financial markets were hit by severe turbulence. Constantia Privatbank AG (CPAG), which, under the directorship of Petrikovics and Gertner, was responsible for the management of IMMOFINANZ, failed to react to the changed circumstances. These developments, along with poor management decisions, the correctness of which were/are the subject of criminal investigations, caused a crisis at IMMOFINANZ. In the wake of the global financial and economic crisis and the accompanying falling securities prices, IMMOFINANZ shares also came under strong pressure. For IMMOFINANZ, what was probably the most difficult phase in the history of the company up to that point began.
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Wikipedia