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ACCENTRO Starts Year with 85% Revenue Growth

DGAP-News: Accentro Real Estate AG / Key word(s): Quarterly / Interim Statement/Real Estate ACCENTRO Starts Year with 85% Revenue Growth 01.06.2021 / 09:00 The issuer is solely responsible for the content of this announcement. ACCENTRO Starts Year with 85% Revenue Growth

- Strong growth in revenues and earnings during first quarter

- Sales volume in individual privatisation segment doubles to EUR 54.1 million

- Private investors accounted for about 90% of the flats sold in Q1

- Forecast for significant growth in 2021 confirmed
 

Berlin, 01 June 2021 - ACCENTRO Real Estate AG, an investor in residential real estate and Germany's leading housing privatisation company, looks back on a very successful first quarter.

Revenues surged by 85% to EUR 27.6 million (previous year: EUR 14.9 million), while the earnings before interest and taxes (EBIT) rose by an impressive 535% to EUR 2.3 million (previous year: EUR 0.4 million). Earnings per share improved accordingly, rising to EUR -0.09 (previous year: EUR -0.24). The gross profit margin in sales also developed positively, achieving 26.3% (previous year: 22.3%).

During the three opening months of the year, the volume of notarised property sales in the individual privatisation segment doubled year on year. Overall, 135 units in a total value of EUR 51.4 million were sold. The month of March actually marked a new record in the company's history.

At the same time, the volume of notarised property sales that are still awaiting their transfers of benefits and burdens continued to grow. As of 31 March 2021, it added up to EUR 50.7 million. The resurgence is the result of ACCENTRO's marketing activities, which have maintained a permanently strong level over the past months. But it also shows that the COVID-19 pandemic keeps causing delays in the transfer of benefits and burdens. As a result, the successful sales activities are reflected only to some extent in the revenue and earnings performance of the first quarter.