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TTL Beteiligungs- und Grundbesitz-AG: TTL publishes 2023 half-year results - Seite 3

TTL's equity declined by 19.8 percent to EUR 35.2 million (December 31, 2022: EUR 43.9 million), which corresponds to an equity ratio of 32.1 percent (December 31, 2022: 37.1 percent). The reasons for the decline are the dividend payment of EUR 4.9 million and the negative overall result for the first half of the year of EUR -3.7 million. Liabilities were virtually unchanged compared with December 31, 2022. TTL is financed in the amount of EUR 108.5 million (December 31, 2022: EUR 116.8 million) by equity and long-term debt. This corresponds to 98.7 percent of total assets (December 31, 2022: 98.8 percent).

Outlook

Currently, there is still no turnaround in sight on the transaction market. TTL therefore does not expect any significant improvement in the real estate investment market in the second half of 2023 and has today adjusted its forecast for the year 2023. For the full year, TTL now expects – depending on the transaction volume in the second half of the year – a consolidated pre-tax result of EUR -3.3 to -3.9 million, adjusted for one-off effects if necessary, based on an investment and interest result of EUR -2.6 to -3.1 million.

"We are convinced that our portfolio companies are well positioned to return to their former earnings strength when the real estate investment market normalizes. At the same time, we continue to examine new investment opportunities in order to broaden TTL's position through additional investments in privately held and high-dividend listed companies," says Theo Reichert, CEO of TTL AG.

Key figures for the first six months from January 1 to June 30, 2023

TTL AG | Group according to IFRS in thousands of EUR, unless otherwise stated
Key Balance Sheet Figures		30.06.2023		31.12.2022
Financial assets		89,710		92,194
Equity		35,243		43,859
Long-term debt		73,208		72,908
Total Assets		109,860		118,215
Income statement data		H1 2023		H1 2022
Revenues		657		914
Financial result		-2,228		567
Consolidated result		-3,675		298
Earnings per share (in EUR)		EUR -0.15		EUR 0.01

The full 2023 half-year report (German language only) can be downloaded from the TTL AG website at the following address: https://www.ttl-ag.de/en/investor-relations/financial-reports.html.