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The Grounds Real Estate Development AG triples EBIT and multiplies net profit in 2020

DGAP-News: The Grounds Real Estate Development AG / Key word(s): Annual Results/Forecast The Grounds Real Estate Development AG triples EBIT and multiplies net profit in 2020 23.06.2021 / 07:58 The issuer is solely responsible for the content of this announcement. CORPORATE NEWS

The Grounds triples EBIT and multiplies net profit in 2020

• Consolidated sales revenues +125 % to EUR 31.3 million
• EBIT tripled to EUR 6.1 million
• Consolidated profit after taxation increased to EUR 4.0 million
• Balance sheet total doubled to more than EUR 87.4 million
   

Berlin, 23 June 2021 - The Grounds Real Estate Development AG (The Grounds / ISIN: DE000A2GSVV5) completed the financial year 2020 very successfully. In 2020, The Grounds significantly increased consolidated sales revenues to EUR 31.3 million (previous year: EUR 13.9 million) and more than tripled EBIT to EUR 6.1 million (previous year: EUR 2.0 million). Consolidated net income after taxation increased disproportionately to EUR 4.0 million (previous year: EUR 54 thousand).

Important milestones in 2020 include the acquisition of a real estate portfolio with 262 residential and commercial units for the portfolio (Stendal/Prignitz), a non-cash capital increase carried out in the summer of 2020, by means of which five project developments with a total investment volume of more than EUR 100 million - mostly with building rights - were contributed, and the sale of a logistics property in Grünheide/Mark.

Continuation of the growth path in 2021: Successfully placed convertible bond and purchases of EUR 25 million

In 2021, The Grounds has already made purchases of residential properties worth EUR 25 million in the Berlin area, thereby expanding its portfolio to 386 units and its privatisation portfolio to 96 units. The Grounds financed the purchases with, inter alia, a significantly oversubscribed convertible bond with a volume of EUR 12 million, which was placed in February 2021.