Polis boosts FFO and plans more buys
Berlin-based Polis Immobilien AG had stable profits for the first half of the year, thanks to an increase in lease performance. Rental income rose about 8% to €9.21mn,and the occupancy rate went up 4 percentage points to 93%. FFO soared by 47% to €3.45mn. Due to non-cash charges from interest rate valuations, net income stayed at €3.7mn, only slightly above last year’s level (€3.6mn). Thanks to positive cash flow, the company nonetheless has the potential to make purchases, and CFO Michael Piontek said company equity of €4.38mn is available and should be invested in the near future.
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