DGAP-News: BUWOG AG / Key word(s): Real Estate/Disposal
2016-12-07 / 19:04
The issuer is solely responsible for the content of this announcement.

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Residential real estate company BUWOG Group signed an agreement on 07 December 2016 for the sale of 1,146 apartments with approximately 89,000 sqm of total rentable floor area in the Austrian province of Tyrol (approximately 4.8% of the Austrian portfolio). BUWOG is therefore continuing its strategic focus in Austria on the capital city of Vienna.
A negative, nearly EUR 4 million p.a. influence on Recurring FFO anticipated by the company due to the decline in annual revenue from net in-place rent and elimination of potential unit sales from the sales portfolio can be compensated by the refinancing measures announced on 27 October 2016. At the same time, after repayment of debts and before taxes BUWOG will generate approximately EUR 90 million in free cash flow from the sale, with which it will continue pursuing its strategy of growth in Germany. Confidentiality on the sale price of the Tyrol portfolio was agreed by the parties to the contract. The transaction is expected to close by mid-2017.


About the BUWOG Group

BUWOG Group is the leading German-Austrian full-service provider in the residential property business and now looks back on 65 years of expertise. Its property portfolio is located in Austria and Germany. In addition to Asset Management, the entire value chain of the residential sector is covered by Property Sales and Property Development. The shares of BUWOG AG have been listed on the stock exchanges in Frankfurt am Main, Vienna (ATX) and Warsaw since the end of April 2014.

FOR REQUESTS:

Media Inquiries Austria:

Thomas Brey
BUWOG Press Office Austria
c/o M&B PR, Marketing, Publikationen
T +43 (0) 1 233 01 23 15
M +43 676 542 39 09
brey@mb-pr.at


Media Inquiries Germany:

Peter Dietze-Felberg
BUWOG Press Office Germany
RUECKERCONSULT GmbH
T: +49 (0)30 2844 987-62
dietze@rueckerconsult.de

Investor Relations:

Holger Lueth
Head of Investor Relations & Corporate Finance
Email: holger.lueth@buwog.com
T +43-1-878 28 1203

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2016-12-07 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de

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Language: English Company: BUWOG AG Hietzinger Kai 131 1130 Wien Austria Phone: +43 1 87 8281130 Fax: +43 1 87 8285299 E-mail: investor@buwog.com Internet: www.buwog.com ISIN: AT00BUWOG001 WKN: A1XDYU Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Dusseldorf, Munich, Stuttgart, Tradegate Exchange; Wien (Amtlicher Handel / Official Market)  
   
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