27.11.2020 CONSUS Real Estate AG  DE000A2DA414

DGAP-News: Consus Real Estate AG: Consus Real Estate continuing reducing cost of borrowing and streamlining Group structure


DGAP-News: CONSUS Real Estate AG / Key word(s): Quarterly / Interim Statement
Consus Real Estate AG: Consus Real Estate continuing reducing cost of borrowing and streamlining Group structure

27.11.2020 / 22:17
The issuer is solely responsible for the content of this announcement.

Consus Real Estate continuing reducing cost of borrowing and streamlining group structure

Berlin - 27 November 2020
. Consus Real Estate AG ("Consus", ISIN DE000A2DA414, CC1), a leading property developer in Germany's top 9 cities, today released its figures for the first nine months of 2020.

Theo Gorens, member of the Management Board of Consus, comments: "In face of the Covid-19 pandemic, we successfully achieved important strategic and operating milestones in the first nine months of 2020, in particular optimizing our development portfolio, streamlining our group structure and significantly reducing our cost of borrowing by substantially refinancing expensive mezzanine debt."

Resilient Q3 performance of the business despite Covid-19
Covid-19 had a significant impact on our operating environment. However, Consus continued to operate through the challenges and achieved some major milestones.
Total income of € 705.6 million increased year-on-year by 34.4%. Our key performance indicator, EBITDA pre-PPA and pre-one-offs (Adjusted EBITDA), reached € 193.2 million leading to an adjusted EBITDA pre-PPA margin of 27.4%. LTM Adjusted EBITDA reached € 252.5 million, reflecting the challenging economic conditions in 2020. Expensive mezzanine debt was reduced by approx. € 400m year-to-date, reducing the average interest rate materially.

Closing of acquisition of large-scale Düsseldorf project
The closing of the acquisition of the large-scale development project 'Grand Central' in the city center of Düsseldorf resulted in a GDV increase of € 0.6 billion. Pro-forma for the announced upfront sales from May 2020, the GDV of the portfolio will be € 8.6 billion across 40 projects. Consus' development portfolio is almost exclusively located in Germany's top 9 cities, with 92% of GDV in Germany's top 7 cities.

Execution of ADO Properties call option

On 29 June 2020, ADLER Group S.A. (formerly ADO Properties S.A.) ("ADLER") announced that it had exercised its call option to acquire control of Consus followed by an announcement on 6 July 2020 that they had successfully closed the call option and acquired control with a current stake of approx. 65%.

Streamlining of Group structure
In line with the ongoing integration of operations and streamlining of its Group structure, Consus completed the acquisition of the remaining 25% minority stake (on a fully diluted basis) in Consus RE AG (formerly CG Gruppe AG) ("Consus RE") in July 2020. Subsequently, Consus RE became a wholly-owned subsidiary of Consus and its legal structure was converted to a limited liability company (GmbH) as a further milestone to optimize and simplify the group structure.

Coronavirus update
The second wave of the Coronavirus pandemic infections started in Q3 2020. Consus cannot conclusively assess the effects on Consus from the impact on the overall economic and industry-related developments by the coronavirus. Consus will continue to assess any potential macro-economic and industry-related impacts as well as any impact on the Group's business, either directly or from reduced economic visibility, and will update the market as appropriate. Consus continues to believe that German residential real estate will prove to be one of the most robust asset classes despite the ongoing pandemic.

Investor Relations
phone +49 30 96535790264
[email protected]

27.11.2020 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: CONSUS Real Estate AG
Kurfürstendamm 188-189
10707 Berlin
Phone: +49 (0)30 965 357 90 300
E-mail: [email protected]
Internet: www.consus.ag
ISIN: DE000A2DA414
Listed: Regulated Unofficial Market in Dusseldorf, Frankfurt (Scale), Munich (m:access), Stuttgart, Tradegate Exchange
EQS News ID: 1151307

End of News DGAP News Service

1151307  27.11.2020 


Die wichtigsten Finanzdaten auf einen Blick
  2015 2016 2017 2018 2019 2020 2021e
Umsatzerlöse1 2,86 1,38 7,69 614,97 671,12 0,00 0,00
EBITDA1,2 0,20 0,06 4,70 107,90 236,44 0,00 0,00
EBITDA-Marge3 6,99 4,35 61,12 17,55 35,23 0,00 0,00
EBIT1,4 0,20 0,06 4,70 105,73 227,99 0,00 0,00
EBIT-Marge5 6,99 4,35 61,12 17,19 33,97 0,00 0,00
Jahresüberschuss1 0,24 0,06 -7,95 1,17 -5,04 0,00 0,00
Netto-Marge6 8,39 4,35 -103,38 0,19 -0,75 0,00 0,00
Cashflow1,7 0,39 -0,39 -4,62 132,01 -74,10 0,00 0,00
Ergebnis je Aktie8 0,00 0,00 -0,28 -0,17 -0,15 0,21 0,34
Dividende8 0,00 0,00 0,00 0,00 0,00 0,00 0,00
Quelle: boersengefluester.de und Firmenangaben

  Geschäftsbericht 2019 - Kostenfrei herunterladen.  
1 in Mio. Euro; 2 EBITDA = Ergebnis vor Zinsen, Steuern und Abschreibungen; 3 EBITDA in Relation zum Umsatz; 4 EBIT = Ergebnis vor Zinsen und Steuern; 5 EBIT in Relation zum Umsatz; 6 Jahresüberschuss (-fehlbetrag) in Relation zum Umsatz; 7 Cashflow aus der gewöhnlichen Geschäftstätigkeit; 8 in Euro; Quelle: boersengefluester.de

Wirtschaftsprüfer: KPMG

Consus Real Estate
WKN Kurs in € Einschätzung Börsenwert in Mio. €
A2DA41 5,730 Halten 782,61
KGV 2022e KGV 10Y-Ø BGFL-Ratio Shiller-KGV
13,64 17,77 0,76 -58,47
0,84 - 1,17 15,07
Dividende '19 in € Dividende '20e in € Div.-Rendite '20e
in %
0,00 0,00 0,00 01.10.2020
Q1-Zahlen Q2-Zahlen Q3-Zahlen Bilanz-PK
29.05.2020 27.08.2021 26.11.2020 23.04.2020
Abstand 60Tage-Linie Abstand 200Tage-Linie Performance YtD Performance 52 Wochen
-12,39% -14,78% -22,67% -14,09%
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Immobilien (Gewerbe) , A2DA41 , CC1 , SWB:CC1