Noratis AG: Devaluation of the property portfolio and corresponding value adjustments as well as preliminary result for the first half of 2024

EQS-Ad-hoc: Noratis AG / Key word(s): Real Estate/Miscellaneous Noratis AG: Devaluation of the property portfolio and corresponding value adjustments as well as preliminary result for the first half of 2024 14-Aug-2024 / 16:14 CET/CEST Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. Publication of inside information in accordance with Article 17 of Regulation (EU) No 596/2014

Noratis AG: Devaluation of the property portfolio and corresponding value adjustments as well as preliminary result for the first half of 2024 - negative impact on annual result 2024 expected

Eschborn, 14 August 2024 - Noratis AG (ISIN: DE000A2E4MK4, WKN: A2E4MK) has identified an impairment requirement of around EUR 31 million on the basis of the expert valuation of the real estate portfolio as of 30 June 2024. This corresponds to a decline in value of around 6% (like-for-like) on the market values of around EUR 483 million as at the reporting date of 31 December 2023. The appraisal values result in an earnings-relevant write-down requirement of EUR 20.8 million, which has a negative impact on both EBIT and EBT. This necessitates an adjustment to the annual forecast. For the full year 2024, Noratis AG now assumes clearly negative earnings before taxes (EBT) and clearly negative earnings before interest and taxes (EBIT).

Based on the preliminary half-year figures of the company for the first half of 2024, Noratis AG achieved earnings before interest and taxes, EBIT, of EUR -18.4 million according to IFRS after EUR 2.6 million in the same period of the previous year. Earnings before taxes, EBT, deteriorated from EUR -4.4 million in the same period of the previous year to around EUR -26.2 million.

 

The Executive Board

Noratis AG

Hauptstraße 129

65760 Eschborn

 

 

 

End of Inside Information

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Information and Explanation of the Issuer to this announcement:

Explanatory notes

Investor & Public Relations contact:

edicto GmbH

Dr. Sönke Knop
069 905 505 51
[e-mail]
Eschersheimer Landstraße 42

60322 Frankfurt am Main

 

 

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14-Aug-2024 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com

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Language:	English
Company:	Noratis AG
	Hauptstraße 129
	65760 Eschborn
	Germany
Phone:	+49 (0) 69 / 170 77 68 20
E-mail:	[e-mail]
Internet:	www.noratis.de
ISIN:	DE000A2E4MK4
WKN:	A2E4MK
Indices:	Scale 30
Listed:	Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Scale), Hamburg, Munich, Stuttgart, Tradegate Exchange
EQS News ID:	1968283

End of Announcement	EQS News Service

1968283  14-Aug-2024 CET/CEST