DGAP-News: Accentro Real Estate AG / Keyword (s): Real estate / Figures 9 months
30.11.2021 / 07:30
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ACCENTRO makes a significant increase in its profits

– Revenue increases 92.0% to € 125.4 million in the first nine months of 2021
(previous year: 65.3 million euros)

– Multiplied EBIT, reaching 31.0 million euros (previous year: 5.6 million euros)

– The consolidated result improved significantly to EUR 9.6 million
(previous year: 11.8 million euros)

– Earnings per share climbed to 0.30 EUR (previous year: -0.36 EUR)

– The net asset value (NAV) per share amounts to approximately EUR 13

– Confirmed forecast of significant revenue and profit growth in 2021

Berlin, November 30, 2021 – ACCENTRO Real Estate AG, investor in residential real estate and German leader in the privatization of housing, continues its dynamic growth and looks back on a very successful nine-month period.

Lars Schriewer, CEO of ACCENTRO Real Estate AG, is satisfied: “We continued the strong business development we have seen since the start of this year with a very successful third quarter. Compared to the same period last year, revenues for the first nine months have almost doubled. Our EBIT has increased several times. The main driver of this performance was the dynamic trend in our housing privatization business. Given the strong performance of the company, we confirm the forecast for 2021 and see great potential for long-term growth. “

The Group’s results have significantly increased

Group sales increased by 92.0% to 125.4 million euros (previous year: 65.3 million euros). The group’s profit before interest and taxes (EBIT) was even more dynamic: it climbed to 31.0 million euros (previous year: 5.6 million euros). As a result, group profit after tax (EAT) increased to 9.6 million euros (previous year: -11.8 million euros) and earnings per share increased to 0.30 EUR (previous year : -0.36 EUR).

Fair value adjustments of investment properties – i.e. the real estate that ACCENTRO holds in its longer-term portfolio – had a positive impact on EBIT with EUR 16.3 million ( previous year: 2.0 million euros). It clearly demonstrates the quality and capital appreciation potential of our real estate.

Total assets increased to EUR 958 million (December 31, 2020: EUR 862 million), which is mainly due to the continued expansion of the stock of owned rental apartments. As a result, rental income jumped 86.6% to 15.3 million euros (previous year: 8.2 million euros). This resulted in an increase in the net asset value (NAV) per share to approximately EUR 13.

ACCENTRO reiterated its strong performance in the privatization of residential real estate, seamlessly maintaining the dynamic growth of the previous quarters into the third quarter. The company sold 614 units to tenants, owner-occupiers and private investors – an increase of 132.6% over the period of the previous year (previous year: 264 units). The volume of notarized real estate sales amounted to 188.6 million euros and also exceeded the figure for the previous year by 155.2% (previous year: 73.9 million euros). Revenue nearly doubled in the first nine months, increasing 94.6% to 108.4 million euros (previous year: 55.7 million euros). The volume of notarized property sales for which the transfer of benefits and charges was still pending at the balance sheet date of September 30, 2021 amounted to € 96.4 million.

Confirmed outlook

Given the good business development during the first nine months, ACCENTRO confirms its forecasts for this year. As a result, revenue will increase by up to around 60% to between 170 and 200 million euros (previous year: 125.2 million euros) and EBIT by around 44% to somewhere between 45 and 200 million euros. 50 million euros (previous year: 34.8 million euros). All business units of the company will contribute to the positive earnings performance. During the fourth quarter, further income from fair value adjustments of investment properties will be largely supplemented by income from both single apartment sales and block sales.

Lars Schriewer looks to the future with optimism: “ACCENTRO is superbly positioned in all of its business units. The company has a very well-filled privatization pipeline of residential properties already legally divided into condominiums. In addition, our exclusive rental portfolio, which we continue to develop in a dynamic effort, offers a lot of appreciation and rental potential.Moreover, we have laid the foundations for significant growth in our service business, c ie the sale of real estate for third parties such as project developers, by entering into an exclusive sales cooperation for residential real estate with ImmoScout24 just a few weeks ago. In addition to the privatization of the existing one, which has been a success for decades, ACCENTRO is thus increasingly launching into the sale of new apartments.

About ACCENTRO Real Estate AG

ACCENTRO Real Estate AG is a residential real estate investor and the German market leader in housing privatizations. Its real estate portfolio numbered around 5,200 units as of December 31, 2020. In addition to Berlin, regional focal points include East German cities and towns, as well as the Rhine-Ruhr metropolitan region and Bavaria. ACCENTRO’s business activity comprises four main divisions. These include the retail sale of apartments to owner-occupiers and private rental investors, the sale of real estate portfolios to institutional investors, the constitution and management of an owner real estate portfolio and apartments for third parties. marketing for real estate asset owners, investors and developers. ACCENTRO Real Estate AG shares are listed on the Prime Standard segment of the Frankfurt Stock Exchange (German stock exchange code number WKN: A0KFKB, ISIN: DE000A0KFKB3). www.accentro.de

Investor Relations Contact:

Thomas Eisenlohr
ACCENTRO Immobilier SA
Kantstrae 44/45
D-10625 Berlin
Email: [email protected]
Phone. +49 (0) 30 – 88 71 81 272

Press and public relations contact:

Christian Dose
WMP EuroCom SA
Barckhausstrasse 1
D-60325 Frankfurt
Email: [email protected]
Phone. +49 (0) 69 2475689491
Mobile: +49 (0) 173 6679900

11.30.2021 Distribution of a Corporate News, transmitted by DGAP – a service of EQS Group AG.
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