IVG profits jump in 2010

IVG says that after making a loss of €158m in 2009, it had net income of €23.2m in 2010. This “clearly demonstrates the success of the restructuring program that was initiated in early 2009,” writes the company in a statement.

Portfolio yields remained largely unchanged in 2010, with the NRI yield amounting to 5.3% (2009: 5.5%) and the NOI yield totalling 5.0% (2009: 5.1%), while the occupancy rate remained steady at 90.0% (2009: 90.4%). These operating key figures serve to confirm the Company’s further stabilisation.NAV per share increased for the first time in two years to €7.02 (2009: €6.86 per share). NAV adjusted per share (including the future value potential of the cavern business) remained largely stable at €9.85 (2009: €9.95 per share).

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