annual financial statement 2011 - conwert Immobilien Invest SE

CONWERT IMMOBILIEN INVEST SE
ANNUAL FINANCIAL STATEMENT 2011
16
DEVELOPMENT OF PROPERTY MANAGEMENT
(IN 1,000 SQM)
5
4
3
2
1
1.37
2.77
4.14
1.33
2.86
4.19
1.27
3.41
2009 2010 2011
RESAG alt+kelber
Total
DEVELOPMENT MANAGED SPACE
(IN 1,000 SQM)
5
4
3
2
1
1.84
2.30
4.14
2.16 2.03
4.19
1.91
2.76
2009 2010 2011
conwert Third-party assets
Total
4.67
4.67
PROPERTY SERVICES
In Austria and Germany, the property service segment saw several changes in the financial
year 2011, and many successes were achieved. Amongst other things, three asset management
departments in Austria were merged into one, accomplishing significant synergies in the management
and re-letting of properties. Moreover, the technical and facility management departments
of the RESAG Property Management GmbH were restructured in keeping with a streamlining of
the group structure. The cooperation with RESAG GmbH Immobilienmakler, a company in which
conwert holds 49% and Wiener Privatbank 51%, was completely restructured in the financial year
2011. As a result, the business relationship has now been put on a basis that allows third-party
comparison. An internal sales department was established for the sale of entire apartment buildings
or portfolios in order to internalise the profit of the most lucrative part of the sales and marketing
activities. From the perspective of alt+kelber Immobilienvertrieb GmbH, the financial year
2011 was also characterised by massive restructuring, quality improvement and cost optimisation
measures, which were implemented successfully. The combination of individual sales companies
of the alt+kelber Group allowed the company to reach the goal of pooling sales competence in the
year 2011. Overall, 436,881 sqm were brokered in the reporting period with the help of the service
companies, of which the conwert portfolio accounted for 224,139 sqm. 212.742 sqm were brokered
for third parties.
In total, conwert managed 63,100 units at 31 December 2011 through its service provider companies,
after 57,618 units in the previous year. Space under management recorded an increase
to approx. 4.67 million sqm (2010 approx. 4.19 million sqm). The sales units of the conwert Group
sold 2011 6,904 apartments in 2011, with 115 objects accounting for 5,464 units. 80.3% of the sales
of apartments were realised internally for the conwert Group, while business with third parties
accounted for 19.7%. Newly brokered rental units totalled 7,811 units in 2011, in comparison with
6,687 units in the year 2010. Here the share of external customers came to 51.0%.
At the balance sheet date, conwert had property assets totalling 2.83 billion € (2010: 3.24 billion €),
which were managed by all management and service companies pertaining to the group.