Noratis AG: Portfolio Insights Ahead of Bondholders' Meeting & Investor Call

• Noratis AG has recognized write-downs of around EUR 31 million on its property portfolio based on expert valuation as of 30 June 2024.
• The write-downs reflect market-related adjustments and effects of Noratis AG's restructuring plans, including lower and delayed investments and changes in marketing strategy.
• The devaluations and weak property transaction market underline the need for restructuring the 5.5% Noratis bond 2020/2025.
• An investor call is scheduled for 29 August 2024 at 11:00 a.m. to explain the bond restructuring and expert opinion.
• The bondholders' meeting on 10 September 2024 will discuss extending the bond to 31 December 2028, with an early repayment option for the issuer.
• Noratis AG has adjusted its annual forecast to assume significantly negative EBT and EBIT, with preliminary half-year figures showing an EBIT of around EUR -18.4 million and an EBT of around EUR -26.2 million.

The next important date, Publication of semi-annual financial statements, at Noratis is on 30.09.2024.

The price of Noratis at the time of the news was 2,2100EUR and was down -0,45 % compared with the previous day.

Noratis

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ISIN:DE000A2E4MK4WKN:A2E4MK

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