EQS-Adhoc

ACCENTRO Real Estate AG announces extraordinary devaluation of properties and preliminary business figures

EQS-Ad-hoc: Accentro Real Estate AG / Key word(s): Preliminary Results/Real Estate ACCENTRO Real Estate AG announces extraordinary devaluation of properties and preliminary business figures 12-Apr-2024 / 15:54 CET/CEST Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. ACCENTRO Real Estate AG announces extraordinary devaluation of properties and preliminary business figures

Berlin, 12 April 2024 – ACCENTRO Real Estate AG (the "Company”) will undertake extraordinary and significant devaluations of the properties based on independent valuation reports as part of the preparation of the consolidated financial statements for the 2023 financial year. The significant devaluations are not only a consequence of the distressed situation on the real estate market with a considerably reduced transaction volume, the high inflation rate and the ECB's interest rate policy, but also the very conservative valuation approach used in the preparation and audit of the consolidated financial statements.

The consolidated financial statements for the 2022 financial year contained a forecast of consolidated revenues of EUR 100 to 120 million and consolidated EBIT of EUR 0 to 2 million; on 29 August 2023 the Company informed the market that a well-founded and reliable forecast regarding the 2023 financial year was not possible at that moment due to the ongoing extremely tense market situation and the unpredictable business environment. Among others, following the submission of the valuation reports on the extraordinary and significant devaluation requirement in the scale of EUR 50 to 60 million the business figures for the 2023 financial year have now become more substantiated to the extent that  consolidated revenues for the 2023 financial year are expected to be in the high double-digit million range and consolidated EBIT is expected to be in the high double-digit negative million range. The Company will publish the final business figures for the 2023 financial year in the form of the audited consolidated financial statements.