09.08.2018
Accentro Real Estate AG DE000A0KFKB3
DGAP-News: Accentro Real Estate AG: ACCENTRO Real Estate AG achieves significant sales and profit increases in the first half of 2018
DGAP-News: Accentro Real Estate AG / Key word(s): Quarterly / Interim
Statement/Half Year Results
Accentro Real Estate AG: ACCENTRO Real Estate AG achieves significant sales
and profit increases in the first half of 2018
09.08.2018 / 09:00
The issuer is solely responsible for the content of this announcement.
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Press release
ACCENTRO Real Estate AG achieves significant sales and profit increases in
the first half of 2018
- Revenue increased significantly by 129.4 % to EUR 97.9 million (previous
year: EUR 42.7 million)
- EBIT increased by 28.1 % to EUR 14.3 million (previous year: EUR 11.2
million)
- Positive outlook for the year as a whole and confirmation of the 2018
forecast
- Analysis of further financing options for accelerated growth
Berlin, 9 August 2018 - ACCENTRO Real Estate AG (WKN: A0KFKB, ISIN:
DE000A0KFKB3), Berlin, has seen continued growth in the first half of 2018.
Revenue increased significantly by 129.4 % to EUR 97.9 million (previous
year: EUR 42.7 million). EBIT increased by 28.1 % to EUR 14.3 million
(previous year: EUR 11.2 million). The company is therefore well on its way
to achieving its annual forecast of revenue growth in the double-digit
percentage range and an EBIT increase to EUR 36 million to EUR 40 million.
Jacopo Mingazzini, CEO of ACCENTRO Real Estate AG, commented,
"In the first half of this year, we have not only seen very pleasing
operational developments, but also defined important strategic milestones.
We have moreover continued to drive the growth of our privatisation
business. This was all facilitated by the corporate bond placed in January
2018, the funds from which we have nearly entirely reinvested. These
positive developments are increasingly reflected in our share price, which
rose by almost 40 percent in the first half year."
Privatisation business continues to perform well
The sustainable growth shown by ACCENTRO is based on the continued strength
of the company's sales activities. Sales figures stemming from the sale of
inventory properties were especially significant increasing by 139.3 % on
the previous year to EUR 91.1 million (previous year: EUR 38.1 million).
This pronounced increase was attributable in large part to the formation of
the joint venture in Berlin-Hohenschönhausen ("Gehrensee"), which
contributed around EUR 42 million to overall sales and harbours considerable
potential in the future in terms of revenue and operating results in the
Services & Ventures division. However, even when adjusted for this
transaction, ACCENTRO's sales still increased by over 46 %. The company also
further strengthened its privatisation portfolio over the course of the
first half year through purchases in central areas of Berlin. A total of 442
units were transferred to the balance sheet in the first half of the year
and further purchase agreements were concluded for 213 units. The company is
currently planning to drive growth in other metropolitan regions of Germany
too. To this end, ACCENTRO opened an office in Leipzig.
Positive development of the company's Services & Ventures division
ACCENTRO recorded significant growth within the provision of services for
project developers and property holders. Indeed, its services segment
achieved a result of EUR 1.5 million, quadrupling its result on the previous
year (previous year: EUR 0.4 million). Further significant growth potential
is offered by the joint ventures entered into in Hamburg and Berlin during
the first half of the year. In total, cooperation agreements for 1,046 units
were established.
All the indicators signal continuous growth, forecast for 2018 confirmed
Due to the company's positive business development, the management board is
optimistic about the coming months. "Over the course of the year, we want to
further consolidate our position as a market-leading, listed company for
residential property privatisation in Germany. In keeping with this, we can
confirm our forecasts of revenue growth in the double-digit percentage range
and an EBIT increase to EUR 36 million to EUR 40 million," states
Mingazzini.
In order to accelerate growth, ACCENTRO is looking into further financing
opportunities via the capital market. In this regard the company has
commissioned Baader Bank AG and Quirin Privatbank AG to conduct a management
roadshow. Depending on the market environment, potential equity measures may
be implemented at short notice. These would result in an increase of the
free float.
Market capitalisation increases by around 66.4 % in the first half of the
year
ACCENTRO also saw strong capital market development in the first half of
2018, with market capitalisation increasing significantly by EUR 139.1
million to EUR 348.7 million (31 Dec. 2017: EUR 209.6 million). This was
primarily attributable to a share price increase of around 40 % and to the
conversion of much of the 2014/2019 convertible bond floated in March 2014.
This also explains the significant increase in the number of shares by
5,393,031, taking the total to 30,317,934.
Key performance figures for the first half of 2018
In EUR millions H1-2018 H1-2017
Consolidated revenue 104.8 42.7
Gross revenue 20.0 15.0
EBIT 15.2 11.2
Consolidated income 6.2 5.8
Earnings per share (in EUR) 0.21 0.21
Total equity and liabilities 405.4 314.5
Download of the half-yearly report
The full half-year report for the 2018 financial year is available for
download in English and German at
https://www.accentro.ag/en/investor-relations/publications/financial-reports/.
The condensed interim financial statements on which the report is based were
prepared according to the International Financial Reporting Standards
(IFRS).
About ACCENTRO Real Estate AG
ACCENTRO Real Estate AG is the market leader in residential privatisation in
Germany. In addition to its home market Berlin, the company concentrates on
metropolitan regions such as Hamburg, Cologne, Dusseldorf, Rhine-Main
region, Leipzig, Hanover or Bonn.
In the privatization segment ACCENTRO sells appartments of the company's
portfolio to private users and investors or to institutional investors as
portfolio deals. In the business segment Services & Ventures ACCENTRO
markets appartments for investors and project developers - also in the
context of participations in Joint Ventures.
ACCENTRO Real Estate AG is listed in the Prime Standard of the Frankfurt
Stock Exchange (WKN: A0KFKB, ISIN: DE000A0KFKB3).
More information at http://www.accentro.ag
Ansprechpartner Investor Relations
Nicole Birth
ACCENTRO Real Estate AG
Uhlandstr. 165
10719 Berlin
E-Mail: [email protected]
Tel. 030 - 887 181 10
Fax 030 - 887 181 11
Ansprechpartner Presse
Jan Hutterer
Kirchhoff Consult AG
Borselstraße 20
22765 Hamburg
E-Mail: [email protected]
Tel. 040 - 609 186 65
Fax 040 - 609 186 60
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09.08.2018 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.
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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, Tradegate Exchange
End of News DGAP News Service
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