on TAG Tegernsee Immobilien U. Beteiligungs AG (isin : DE0008303504)
TAG Immobilien AG Surpasses Financial Guidance for 2024
In its preliminary results for FY 2024, TAG Immobilien AG reported surpassing expectations, with FFO I reaching EUR 175.1 million, above the guided EUR 170-174 million range. The net income from sales in Poland saw a notable rise of approximately 35%, totaling EUR 66.2 million, far exceeding expectations. The FFO II figure stood at EUR 239.4 million, surpassing the EUR 217-223 million guidance.
The German rental portfolio experienced a reduced vacancy rate of 3.6% by December 2024, facilitating a like-for-like rental growth of 3.0% annually. Meanwhile, Poland boasted a 3.2% annual rental growth and a sharply reduced vacancy rate to 1.5% for residential units over a year old. TAG also completed around 3,200 rental apartments in Poland in 2024.
Valuation gains were observed in both German and Polish portfolios in the latter half of 2024. Sales in Poland generated EUR 358 million in 2024, anticipating further growth to 2,800 units and EUR 450 million in sales for 2025.
R. P.
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