S Immo - H120 results affected by hotel business
S Immo’s portfolio saw a varying degree of impact from the COVID-19 crisis in H120, with hotel operations facing the greatest headwinds alongside retail properties. Conversely, residential and office properties remained largely unaffected and were even subject to positive revaluations of €19.5m and €12.0m vs end 2019, respectively. S Immo’s balance sheet remains robust with a moderate net LTV of 44.6% and a cash position of c €224m at end June 2020 (albeit already partially deployed post the balance sheet date). It continues to search for compelling investment opportunities in the residential and office segments.
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- S Immo - H120 results affected by hotel business01 Sep 2020