GIEAG Immobilien AG (‘GIEAG’) successfully conducted its Annual General Meeting on October 4, 2024 in Munich. All of the items on the agenda were ratified by the attendant shareholders with a unanimous 100 percent approval rate. In addition to endorsing the actions of the Executive Board and Supervisory Board for the 2023 financial year and confirming the auditor for the 2024 financial year, shareholders also unanimously re-elected Professor Christoph Ehrhardt, Alexander Pferschy and Günter Koller to the Supervisory Board for a further term of office. The shareholders also resolved to carry forward the net retained profits of EUR 39,380,981.31 to the next accounting period. Detailed voting results and other pertinent documents related to the Annual General Meeting can be accessed on the GIEAG Immobilien AG website: https://www.gieag.de/en/investor-relations/.
“The unanimous approval of all of the resolutions at our Annual General Meeting reflects the unwavering confidence our shareholders have in the future of our company”, stated Benjamin Johansson, CEO of GIEAG, before adding: “With a track record of over 20 years of improving the value of real estate assets, we are well-positioned to navigate the current challenging market environment. Despite the obstacles, we remain optimistic as we identify numerous opportunities for growth. Leveraging our extensive expertise and established market presence, we are strategically placed to capitalise on these opportunities and drive continued success”.
For the 2024 financial year, GIEAG Immobilien AG expects the company’s value to remain stable, while revenue, including other operating income, is projected to increase. Despite the challenges posed by the current market conditions, GIEAG expects to achieve an almost balanced consolidated result. With the sale of a number of portfolio properties, the company plans to reduce its external financing with the aim of achieving a proportionate reduction in the Group’s debt.
GIEAG Immobilien AG
Benjamin Johansson
Montgelasstraße 14
81679 München
ir@gieag.de
+49 89 290516-0
PB3C GmbH
Tauentzienstr. 16
10789 Berlin
gieag@pb3c.com
+49 30 726276-152
GIEAG is a family-run Munich real estate stock corporation. The shares of GIEAG Immobilien AG are traded on the Munich Stock Exchange. By combining the three asset classes - office, residential, logistics - and the two service areas of development and portfolio management, the company offers stability that is unique in the market. The GIEAG team of experts is a guarantor for innovative and forward-looking concepts.
Over the past 25 years, GIEAG Immobilien AG has developed and optimised a large number of real estate projects with areas of up to 145,000 square metres and an individual investment sum of 15 to 150 million euros. Partnership, transaction security, perseverance and speed are the basis of sustainable value development for GIEAG.