Accentro Real Estate: Tough Parameters Still Impacting Business Growth

• The German residential property market is severely impacted by the difficult economic environment, with transaction volume falling to its lowest level since 2010.
• ACCENTRO's business performance in the first nine months of 2023 was significantly impacted, with consolidated revenues falling to EUR 56.6 million (compared to EUR 144.6 million in the same period last year).
• The significant drop in revenues is primarily due to a strong decline in notarisation volumes since the second half of 2022 and the price trend on the market.
• Despite the overall decline, rental revenues increased by around 7.9% to EUR 13.7 million due to the expansion of the portfolio last year and rent increases.
• Consolidated earnings before interest and taxes (EBIT) totalled EUR -28.0 million in the first nine months (compared to EUR 9.6 million in the same period last year).
• The Management Board cannot provide a well-founded and reliable forecast for the current financial year due to the unpredictable business environment, tense market situation, and weak demand on the housing market.

The next important date, Publication of interim report as of September 30, 2023, at Accentro Real Estate is on 30.11.2023.

The price of Accentro Real Estate at the time of the news was 1,0700EUR and did not change compared to the previous day.
0 minutes after the article was published, the price was 1,0800EUR this corresponds to a plus of +0,93 % since publication.

Accentro Real Estate

-15,90 %

-21,61 %

-38,82 %

-58,39 %

-72,04 %

-94,24 %

-94,74 %

-82,56 %

-98,75 %

ISIN:DE000A0KFKB3WKN:A0KFKB

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