EQS-Adhoc ACCENTRO Adjusts Forecast for the 2022 Financial Year
EQS-Ad-hoc: Accentro Real Estate AG / Key word(s): Change in Forecast/Real Estate
ACCENTRO Adjusts Forecast for the 2022 Financial Year
Berlin, 29 November 2022 – Based on the business development and considering the challenging market environment, the Management Board of ACCENTRO Real Estate AG resolved in today’s meeting to adjust the forecast for the 2022 financial year to reflect its revised planning basis. The Management Board now expects to see consolidated revenues in the amount of EUR 160 to 170 million (previously: EUR 200 - 220 million) and consolidated earnings before interest and tax (EBIT) in the amount of EUR 8 to 10 million (previously: EUR 45 - 50 million).
The main reason for the adjustment of the forecast is the very significantly weakened demand in the second half of the year from both private customers for apartments in individual privatisation and institutional investors for block sales of rental properties due to the challenging market development.
The updated forecast takes account of the business development during the first nine months of the 2022 financial year. Consolidated revenues during the reporting period added up to EUR 144.6 million (previous year: EUR 125.4 million), while consolidated EBIT equalled EUR 9.6 million (previous year: EUR 31.0 million).
The full interim financial statement for the first nine months of the 2022 financial year will be available on the website www.accentro.de on 30 November 2022.
About ACCENTRO Real Estate AG
ACCENTRO Real Estate AG is a residential property investor and Germany’s market leader in housing privatisations. Its real estate portfolio consisted of around 5,200 units as of 30 September 2022. In addition to Berlin, regional focal points include central German cities and conurbations, as well as the Rhine-Ruhr metro region. The business activity of ACCENTRO comprises three core divisions. They are the tenant-sensitive retailing of apartments to private owner-occupiers and buy-to-let investors as well as the selling of real estate portfolios to institutional investors, and the build-up and management of a proprietary real estate portfolio, plus the provision of services for third parties. The shares of ACCENTRO Real Estate AG are listed on the Prime Standard segment of the Frankfurt Stock Exchange (German securities code number WKN: A0KFKB, ISIN: DE000A0KFKB3). www.accentro.de
Investor Relations Contact:
ACCENTRO Real Estate AG
Tel. +49 (0)30 88 71 81 272
29-Nov-2022 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com
|Company:||Accentro Real Estate AG|
|Phone:||+49 (0)30 - 887 181 - 0|
|Fax:||+49 (0)30 - 887 181 - 11|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange|
|EQS News ID:||1501109|
|End of Announcement||EQS News Service|
1501109 29-Nov-2022 CET/CEST