Berlin, 8 August 2019 – The Berlin-based property company ACCENTRO Real Estate AG (WKN: A0KFKB, ISIN: DE000A0KFKB3) laid the ground for a prosperous financial year during the first six months of 2019. By mid-year of the 2019 financial year, the consolidated revenues added up to EUR 34.5 million while the total assets increased by EUR 24.9 million since the balance sheet date of 31 December 2018 to reach a sum total of EUR 499.1 million. The privatisation portfolio increased by 12.6% to EUR 388.6 million. The consolidated income equalled c. EUR 3 million.
In the course of the 2019 financial year to date, a combined total of EUR 72 million has already been spent on 350 flats in 13 different properties. At the same time, new service mandates were contracted. Given the disposals it already transacted or plans to transact yet, ACCENTRO reaffirmed its forecast for the ongoing financial year.
No Adverse Effects by Current Berlin Policy
“The political debates on subjects like expropriations and rent caps in Berlin, which remains our most important market, do little to boost the faith of investors in the future development of Berlin as an investment destination,” said Jacopo Mingazzini, CEO of ACCENTRO. “But there are currently no signs for a flagging interest in buying condominiums – if anything, the opposite is the case: For the time being, the supply gap keeps widening by the day while prices continue to climb.”
The half-year financial report for the 2019 financial year is available for download at https://www.accentro.ag/en/investor-relations/publications/financial-reports/ in English and German.
About ACCENTRO Real Estate AG
ACCENTRO Real Estate AG is Germany’s market leader in housing privatisations. In addition to its home market of Berlin, the company focuses on auspicious metro regions such as Hamburg, Rhine-Ruhr, Rhine-Main and Leipzig. In its Privatisation business unit, ACCENTRO retails condominiums from its proprietary portfolio to owner-occupiers and buy-to-let investors or—bundled into portfolios—to institutional investors. In its Services & Ventures business unit, ACCENTRO sells apartments on behalf of investors and property developers—including through equity investments in its own right within the framework of joint ventures. ACCENTRO Real Estate AG is listed on the Prime Standard segment of the Frankfurt Stock Exchange (German securities code number WKN: A0KFKB, ISIN: DE000A0KFKB3).
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