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2019/09/19 / Erste Group Research

Issuer Profile | S Immo

S Immo Group (no rating) is an international real estate group based in Vienna. Its main business comprises buying, selling, real estate project development, letting, asset management, and operating and rening of hotels and shopping centres, as well as in revitalising and renovating properties in Austria, Germany, and the CEE region. As of 30 June 2019, the Group’s real estate portfolio consisted of 317 properties with a book value of appr. EUR 2.3bn. Commercial properties accounted for about 71%, and residential properties for 29%. More than two thirds of the properties located in Austria and Germany, while the CEE region made up the rest of the locations.

Immofinanz is currently the biggest individual shareholder of S Immo.

The company is planning to continue expanding its real estate portfolio in 2019 and the following years. The strategic focus remains on medium-sized German cities (B-cities) with demographic and economic potential.

Important credit figures like gearing, equity ratio, and interest coverage ratio have improved significantly in the past five years. That being said, there is room for improvement across the entire set of debt figures relative to S Immo’s peer group.

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General information

AuthorErste Group Research
Product nameCredit News
Topic in focusCredits/ Corporate bonds
Economy in focusAustria
Currency in focusEuro
Sector in focus-


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