CA Immo reports first-half loss of 1.4 million euros

CA Immo reported a net loss of 1.4 million euros for the first half of the year, a significant decline from the 31.3 million euro profit recorded during the same period last year. The company's Funds From Operations (FFO I) fell by 11.7 percent to 55.6 million euros.

The loss was driven by several factors, including high interest rates and a 16 percent decrease in rental income, which totaled 104.8 million euros. This drop in revenue is attributed to a smaller portfolio following extensive property sales and a market-related property valuation write-down of 53.7 million euros.

CEO Keegan Viscius described the current environment as a “difficult market environment” characterized by economic uncertainty. Despite the loss, Viscius noted stable operative performance, highlighting a high occupancy rate of 94 percent and improved operational efficiency. The company, which specializes in high-quality office properties in Germany, Austria, and Eastern Europe, expects future challenges from geopolitical tensions, inflation risks, and climate events.