Corporate news

Gateway Real Estate announces forecast for the first time and expects EBIT adjusted of more than EUR 130 million and earnings before taxes (EBT) between EUR 105 million and EUR 110 million for the full year 2019

• Significant expansion of project development business in the first half of the year
• Revenues more than tripled
• Significant increase in EBIT adjusted¹ for the full year expected to EUR 130 million
• Expected profit before tax (EBT) in 2019 between EUR 105 million and EUR 110 million
• Continuation of attractive dividend policy due to strong operating performance

Frankfurt am Main, 26 September 2019 - Gateway Real Estate AG (WKN A0JJTG / ISIN DE000A0JJTG7), one of Germany's leading listed developers of office properties and inner-city commercial buildings, can look back on a strong first half of 2019. The positive half-year result is based on the successful expansion of the project development business. For the future, the Management Board expects significant earnings growth.

"Our project development business is running at full speed. On the one hand, we successfully pushed ahead with existing projects in the first half of the year. On the other hand, we significantly expanded our project development pipeline with land purchases. We have thus created an excellent basis for growth. We are therefore optimistic about the future and expect EBIT adjusted of more than EUR 130 million and earnings before taxes (EBT) of between EUR 105 million and EUR 110 million as early as 2019," comments Tobias Meibom, CFO of Gateway Real Estate AG.

The key to successful business development lies in the project development portfolio. Projects in Stuttgart and Berlin with a total development volume of around 400 million were acquired in the first half of the year. After the end of the reporting period, three further real estate projects in Berlin and one real estate project in Munich with a total project development volume of around EUR 800 million were acquired. Gateway expanded the project development volume of its development portfolio to around EUR 5 billion.

"On the sales side, we are benefiting from the positive market environment and are experiencing a very high demand for our projects," says Tobias Meibom, adding: "I am therefore very optimistic that our business development will continue to gain momentum in the second half of the year and that we will be able to propose to our shareholders a higher dividend for the 2019 financial year than in the previous year.

1) EBIT adjusted: Operating income plus income from investments accounted for using the equity method.

About Gateway Real Estate
Gateway Real Estate AG is a leading listed developer of commercial and residential real estate in Germany (WKN: A0JJTG / ISIN: DE000A0JJTG7). The company has a broadly diversified portfolio, excellent market access and a well-filled project pipeline. In this way, the company achieves sustainable and profitable growth. The Group is currently developing real estate with an estimated gross development volume (GDV) of around EUR 5 billion.
Further information: www.gateway-re.de

Contact
Sven Annutsch
The Squaire No. 13, At the airport
60549 Frankfurt am Main, Germany
T +49 (0) 69 78808800 0
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