Gateway Real Estate: Project Revaluation Triggers Write-Downs & Forecast Adjustment

• Gateway Real Estate AG has commissioned a revaluation of a development project recognized as an investment property.
• The preliminary result of the independent valuation report shows a value that is approximately EUR 42 million or 30% lower than the value previously recognized for this property.
• The project is the Company's essential project development recognized as an investment property.
• The revaluation will reduce the planned EBIT adjusted (previously EUR 5 to 15 million) and the planned earnings before taxes (EBT) (previously EUR -10 to 0 million) in the Group for the current financial year by an amount of around EUR 42 million in each case.
• The Company reports EBIT adjusted as the operating result plus the result from financial assets accounted for using the equity method.
• The revaluation is part of an upcoming refinancing by the company.

The next important date, Publication of quarterly report (as of Q3), at Gateway Real Estate is on 30.11.2023.
The price of Gateway Real Estate at the time of the news was 0,7000EUR and was down -23,91 % compared with the previous day.

Gateway Real Estate

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-85,82 %

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-89,90 %

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ISIN:DE000A0JJTG7WKN:A0JJTG

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