Record year for GIEAG Immobilien AG

Financial year 2021 with record net profit of 29.8 million euros (2020: 15.9 million euros)
Peak value in the company’s history: 138.8 million euros in consolidated turnover (2020: 82 million euros)
Dividend distribution of € 4.185 million made

The nationwide project developer GIEAG Immobilien AG (GIEAG) has concluded the 2021 financial year very successfully. At € 138.8 million, consolidated revenue reached a peak in the company’s history (2020: € 82 million). Consolidated net income also recorded a new high of Euro 29.8 million (2021: Euro 15.9 million). A dividend of one euro per share was resolved for the 2021 financial year. A total of 4,185,350 euros will thus be distributed.

“GIEAG was very successful in project developments, letting activities as well as acquisitions and sales in the past year”, explains Philipp Pferschy, member of the management board of GIEAG Immobilien AG. Right at the beginning of the year, 1,500 square metres were let in the Stuttgart office property “MAYOFFICE”. More than 80 percent of the office space in “MAYOFFICE” has thus been let on a long-term basis. In the nearby “GERLINGEN WORK”, 1,200 square metres were let to a renowned company from the fitness sector. The “MAYOFFICE” was also awarded the LEED Gold certificate.

“GIEAG focuses on the realisation of modern, sustainable and high-quality real estate and neighbourhood developments”, says Pferschy. For example, a new project was secured in Oberhaching near Munich. A green building with more than 15,000 square metres of gross floor area is to be constructed there. “The goal here is the maximum conservation of natural resources. This is achieved not only by producing the building with as little CO2 as possible, but also by using photovoltaics and geothermal energy during operation,” explains Pferschy.

In addition to further leasing successes, the decision by the municipality of Ottobrunn to prepare a new development plan for the project at Finsinger Feld is an important milestone for GIEAG. In the course of the project, GIEAG is developing an office and technology campus at the Ottobrunn location. The progressive and sustainable commercial quarter is to comprise up to 190,000 square metres of space.

At the Annual General Meeting last Wednesday, Prof. Christoph Ehrhardt was confirmed as the new Chairman of the Supervisory Board. He takes over the position from Dr. Oscar Kienzle, who retired as planned on 10 February 2022 after ten years of service.

You can find GIEAG’s annual report for 2021 (German) here.