First time outlook for financial year 2022 and revised guidance for 2021

Essen, 17 November 2021 -

Taking into account the business development in the first three quarters of 2021, the Management of Instone Real Estate Group SE ("Instone") has decided to issue first time profit guidance for financial year 2022, as well as revise guidance for the current fiscal year.

For fiscal year 2022, Management expects delays in building right and building permit approvals related to the corona situation as well as a reduction in the construction speed as a result of building material supply bottlenecks to continue. Consequently, Management expects adjusted 2022 revenues of EUR 0.9 to 1.0 billion and 2022 adjusted earnings after taxes between EUR 90 and 100 million.

For 2021, Management expects a higher sales volume of over EUR 1.0 billion (previously EUR > 900 million) due to strong demand from retail as well as institutional clients. Supply bottlenecks as well as delays in building permits are expected to adversely impact construction progress. As a result management now expects adjusted revenues of EUR 780 to 800 million (previously EUR 820-900 million). However, margins are above the previous forecast. Instone's Management now expects adjusted gross profit margin of approx. 28 percent (previously 26-27 percent). Adjusted earnings after tax are expected at EUR 93-96 million (previously EUR 90-95 million).

The new forecast figures take into account the results for the first nine months of 2021 (adjusted revenues of EUR 405.6 million / adjusted earnings after tax of EUR 40.3 million), which Instone will publish as part of the full quarterly reporting for Q3 2021 on 18 November 2021.

The definitions of the alternative key performance indicators mentioned in this statement can be found in the glossary on the company's homepage at: https://ir.en.instone.de/websites/instonereal/English/3600/glossar.html

Investor Relations
Instone Real Estate
Burkhard Sawazki
Grugaplatz 2-4
D-45131 Essen
Tel.: +49 (0)201 45355-137
E-Mail: [email protected]

Forward-Looking Statements

Certain statements contained in this release may constitute "forward-looking statements" that involve a number of risks and uncertainties. Forward-looking statements are generally identifiable by the use of the words "may", "will", "should", "plan", "expect", "anticipate", "estimate", "believe", "intend", "project", "goal" or "target" or the negative of these words or other variations on these words or comparable terminology. Forward-looking statements are based on assumptions, forecasts, estimates, projections, opinions or plans that are inherently subject to significant risks, as well as uncertainties and contingencies that are subject to change. The forward-looking statements speak only as of the date of this release. No representation is made or will be made by Instone that any forward-looking statement will be achieved or will prove to be correct. The actual future business, financial position, results of operations and prospects may differ materially from those projected or forecast in the forward-looking statements. Instone does not assume any obligation to update, and does not expect to publicly update, or publicly revise, any forward-looking statements or other information contained in this release, whether as a result of new information, future events or otherwise, except as otherwise required by law.