29.11.2016
Corestate Capital Holding S.A. LU1296758029
DGAP-News: Corestate Capital Holding S.A.: CORESTATE announces forecast for 2016 financial year and proclaims dividend of 70% of annual profit
DGAP-News: Corestate Capital Holding S.A. / Key word(s): Forecast
Corestate Capital Holding S.A.: CORESTATE announces forecast for 2016
financial year and proclaims dividend of 70% of annual profit
29.11.2016 / 08:30
The issuer is solely responsible for the content of this announcement.
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CORESTATE announces forecast for 2016 financial year and proclaims dividend
of 70% of annual profit
CORESTATE Capital Holding S.A. ("CORESTATE"), a fully integrated real
estate investment manager based in Luxembourg, announces its forecast for
the 2016 financial year. Based on the business development over the past
months, the Management Board anticipates consolidated revenue of at least
EUR 53.5 million for the year as a whole and net income for the year of at
least EUR 17.7 million, significantly exceeding the previous year's result.
The Management Board intends to propose to the Supervisory Board and the
Shareholders' Meeting that a dividend amounting to around 70% of the annual
profit will be paid.
CORESTATE is observing growing demand particularly from institutional
partners for comprehensive investment management solutions. Bayerische
Versorgungskammer (BVK), one of Germany's biggest institutional investors,
and CORESTATE thus announced the formation of a joint special fund at the
end of October. The new "BVK Residential Europe Real Estate Fund Corestate"
is aiming for a total volume of at least EUR 500 million and will primarily
invest in micro-apartments. The extent of existing mandates could also be
expanded by the purchase of retail portfolios and the growth of the micro
living / student living segment. Together with other property and asset
management mandates, a solid foundation for a successful year 2017 has
already been created.
Sascha Wilhelm, Chief Executive Officer of CORESTATE, comments: "Over the
past years, CORESTATE has developed into an internationally established
real estate investment manager that is successful across all risk
categories of real estate investment products. We are consistently setting
new standards with innovative products. With this approach, we are
increasingly winning institutional investors and thereby establishing a
basis for further healthy corporate growth. We are confident that we can
significantly increase the volume of our assets under management."
Investor Relations Contact
Henryk Deter / Mirko Koch
cometis AG
Phone: +49 611 20585540 / [email protected]
Press Contact
Tom Zeller, Managing Partner
Feldhoff & Cie. GmbH
Phone: +49 69 264867715 / Cell phone: +49 176 10430063 / [email protected]
CORESTATE Capital Holding S.A.
CORESTATE Capital Holding S.A. is a fully integrated real estate investment
manager and co-investor seated in Luxembourg that also has offices inter
alia in Frankfurt, Zurich, London, Madrid and Singapore. Since foundation
of CORESTATE in 2006 the transaction volume amounts to approximately EUR
5.7 billion. CORESTATE accompanies its customers along the entire value
creation chain of a real estate investment product and covers, in
particular, deal sourcing and the development of investment products,
structuring and execution of transactions, real estate investment
management services and the development and execution of exit strategies.
Since October 2016 the group is listed on the Frankfurt Stock Exchange via
the Entry Standard.
Forward-Looking Statements
This release may contain forward-looking statements based on current
assumptions and forecasts made by our management. Various known and unknown
risks, uncertainties and other factors could lead to material differences
between the actual future results, financial situation, development or
performance of our company and the estimates given here. These factors
include those discussed in our public reports, which are available on our
website at [ir.corestate-capital.com]. The company assumes no liability
whatsoever to update these forward-looking statements or to conform them to
future events or developments. Readers are cautioned not to place undue
reliance on these forward-looking statements, which speak only as of the
date hereof.
-ENDS-
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29.11.2016 Dissemination of a Corporate News, 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.
Archive at www.dgap.de
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Language: English
Company: Corestate Capital Holding S.A.
35 avenue Monterey
L-2163 Luxembourg
Grand Duchy of Luxembourg
Phone: +352 (26) 637222
Fax: +352 (26) 637245
E-mail: [email protected]
Internet: www.corestate-capital.ch
ISIN: LU1296758029
WKN: A141J3
Listed: Regulated Unofficial Market in Berlin, Tradegate Exchange;
Open Market in Frankfurt (Entry Standard)
End of News DGAP News Service
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