13.03.2018
Corestate Capital Holding S.A. LU1296758029
DGAP-News: Corestate Capital Holding S.A.: Publication of 2017 Annual Report and dividend proposal
DGAP-News: Corestate Capital Holding S.A. / Key word(s): Final Results
Corestate Capital Holding S.A.: Publication of 2017 Annual Report and
dividend proposal
13.03.2018 / 07:00
The issuer is solely responsible for the content of this announcement.
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CORESTATE: Publication of 2017 Annual Report and dividend proposal
- 2017 a successful year of strong and solid growth
- Dividend proposal of EUR 2.00 per share for the 2018 Annual General
Meeting
- Free float increased to 63%, admission to the SDAX on March 19, 2018
- Financial outlook for 2018 fully confirmed
CORESTATE Capital Holding S.A. (CORESTATE), a fully integrated investment
manager and co-investor based in Luxembourg, is presenting its Annual Report
today for 2017, a year in which the company experienced dynamic growth. All
financial targets in 2017 were clearly surpassed, with aggregate revenues of
EUR 195.0 million, adjusted earnings before interest, taxes, depreciation
and amortization (EBITDA) of EUR 123.3 million and adjusted net income of
EUR 93.3 million, in addition to comprehensive integration steps with the
strategic acquisitions of Hannover Leasing, HFS and ATOS.
In light of these excellent operating figures, the Management Board and the
Supervisory Board will propose the appropriation of the balance sheet profit
with a dividend of EUR 2.00 per CORESTATE share at the 2018 Annual General
Meeting. That corresponds to a dividend payout of around EUR 42 million and
a payout ratio of 45% based on adjusted net income.
"An attractive dividend yield of currently around 4% allows our shareholders
to extensively participate in the company's success. Furthermore, the two
major reallocations within our shareholder base in late February saw free
float rise to 63%, with positive consequences for our stock market liquidity
and positioning in the SDAX stock market segment following our admission on
March 19. We are very confident that we will be able to address new investor
groups and look forward to the continuation of our consistent success story
within the capital market," said Lars Schnidrig, CORESTATE's Chief Financial
Officer.
The pipeline for potential new business was expanded to around EUR 6 billion
at the end of last year (+5% since Q3 2017). Thomas Landschreiber,
CORESTATE's Chief Investment Officer, adds: "The broad and attractive
product offering that we can provide for our clients by establishing the new
multi-boutique platform is a major contribution to the success of our
business model. We are only at the beginning when it comes to exploring the
strategic potential that lies in the interaction of our acquisitions. We
therefore feel that we are in the best position to implement our organic
growth targets as well as further acquisitions."
This backdrop allows the financial outlook for the current financial year to
be fully confirmed. The company expects aggregate revenues for 2018,
including income from real estate investments, to be between EUR 230 and 240
million, adjusted EBITDA of between EUR 155 and 165 million and adjusted net
income of EUR 120 to 130 million. These figures exclude any acquisitions.
IR Contact
Dr. Kai Gregor Klinger
T: +49 69 3535630-107 / M: +49 152 22755400
[email protected]
PR Contact
Tom Zeller
Phone: +49 69 264867715 / Cell phone: +49 176 10430063
[email protected]
About CORESTATE Capital Holding S.A.
CORESTATE Capital Holding S.A. (CORESTATE) is an investment manager and
co-investor with approximately EUR 22bn in assets under management. As a
fully integrated real estate platform, CORESTATE offers its clients combined
expertise in the areas of investment and fund management as well as real
estate management services. The company operates as a respected business
partner of institutional clients and wealthy private investors
internationally. CORESTATE is headquartered in Luxembourg and has 41 offices
including in Frankfurt, London, Madrid, Singapore and Zurich. The company
employs over 560 people and is listed in the regulated market (Prime
Standard) of the Frankfurt Stock Exchange.
Further information is available at www.corestate-capital.com.
Forward-Looking Statements
This press 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.
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13.03.2018 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.
4, Rue Jean Monnet
L-2180 Luxembourg
Luxemburg
Phone: +49 69 3535630-107
Fax: +49 69 3535630-29
E-mail: [email protected]
Internet: www.corestate-capital.com
ISIN: LU1296758029
WKN: A141J3
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Munich,
Stuttgart, Tradegate Exchange
End of News DGAP News Service
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663113 13.03.2018
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