DGAP-Media / 13.05.2016 / 08:00 PRESS RELEASE ACCENTRO reports strong start to financial year 2016 * Revenue more than doubles to EUR 24.1 million (Q1-2015: EUR 9.0 million) * EBIT before measurement effects up to EUR 7.5 million (Q1-2015: EUR 2.9 million) * Successful expansion of apartment privatisation business * Positive outlook for financial year 2016 confirmed Berlin, May 13, 2016 - ACCENTRO Real Estate AG (ISIN: DE000A0KFKB3) is building on its successes of the previous year and has made an extremely positive start to financial year 2016. ACCENTRO has strategically increased its focus on apartment privatisation, a key factor in strengthening the company's results. In comparison with the same prior-year period, revenues increased to EUR 24.1 million (Q1-2015: EUR 9.0 million). The main growth driver was the revenues generated by property sales, which registered a more than fourfold year-on-year increase, totalling EUR 20.5 million (Q1-2015: EUR 4.4 million). Earnings before interest and income taxes (EBIT) and before measurement effects grew significantly over the previous year's Q1, rising to EUR 7.5 million (Q1-2015: EUR 2.9 million). "We continue to register strong growth in demand for housing, both from owner-occupiers and buy-to-let investors. Excellent market conditions and our focus on apartment privatisation have clearly given our results a sizeable boost. We will continue with our strategy and increase the profitability of ACCENTRO," said Jacopo Mingazzini, CEO of ACCENTRO Real Estate AG. Profitable privatisation business Sales revenues from the privatisation of apartments were significantly increased from EUR 0.4 million in Q1-2015 to EUR 5.4 million in the current reporting period. This strong growth proves that its strategic focus on apartment privatisation has enabled ACCENTRO to boost its profitability. During Q1-2016, EUR 9.3 million (Q1-2015: EUR 2.2 million) in cash receipts were generated by sales. The reinvestment of freed-up capital in the expansion of the company's privatisation portfolio is a major element of ACCENTRO's strategy. "In view of property price increases over the last few years and our sizeable share of the Berlin market, we will increasingly focus our activities on metropolitan regions beyond Berlin," continued Mingazzini. During the current financial year ACCENTRO has already acquired attractive objects in Berlin (76 residential units), Hamburg (46 residential units), Hannover (26 residential units) and Bonn (106 residential units), successfully expanding the number of regions within which it holds residential properties. Significant NAV potential The EPRA NAV of EUR 4.77 Euro represents an increase of EUR 0.09 over December 31, 2015. Given the fact that ACCENTRO's privatisation portfolio is largely reported at acquisition cost value, there is significant price potential for the company's shares. Taking undisclosed reserves into account, the market valuation of the company's property portfolio results in an NAV of EUR 6.55. Via strategic development of the property portfolio, ACCENTRO expects to continue generating sustainable additional value potentials. Outlook for financial year 2016 confirmed Throughout the current financial year ACCENTRO will continue to focus on the privatisation of apartments from within its own portfolio and on behalf of third-parties. "We are restating our outlook for the current financial year, forecasting extremely positive earnings growth," said Mingazzini. "In particular, we expect positive developments in the results of our trading division." For the current financial year, management has forecast group profits of around EUR 10 million. The complete quarterly report for the first three months of financial year 2016 is available as a download at http://www.accentro.ag/investor-relations/finanzberichte. About ACCENTRO Real Estate AG ACCENTRO Real Estate AG is a listed residential property company. Its core business consists of tenant-sensitive apartment privatisations. The company's subsidiary, ACCENTRO GmbH, is the market leader for housing privatisation services in Germany. ACCENTRO Real Estate AG has its registered office in Berlin and is listed on the Prime Standard of the Frankfurt Stock Exchange (German securities code number [WKN]: A0KFKB). Press and Media Relations Contact: Jan Hutterer Medien- und Kommunikationsberatung Dr. ZitelmannPB. GmbH Rankestraße 17 10789 Berlin Email: [email protected] Tel. 030 - 72 62 76 1613 Fax 030 - 72 62 76 163 End of Media Release --------------------------------------------------------------------------- Issuer: Accentro Real Estate AG Key word(s): Real estate 13.05.2016 Dissemination of a Press Release, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- Language: English Company: Accentro Real Estate AG Uhlandstr. 165 10719 Berlin Germany Phone: +49 (0)30 - 887 181 - 0 Fax: +49 (0)30 - 887 181 - 11 E-mail: [email protected] Internet: www.accentro.ag ISIN: DE000A0KFKB3 WKN: A0KFKB Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart End of News DGAP Media --------------------------------------------------------------------------- 463359 13.05.2016