09 01 2017

ACCENTRO Raises its 2016 Income Forecast again, Reports a New Record in Acquisitions

Berlin, 09 January 2017 – The Berlin-based company ACCENTRO Real Estate AG (German securities code number WKN: A0KFKB, ISIN: DE000A0KFKB3) raised its income forecast for the past year once again. ACCENTRO anticipated a consolidated income between 25.0 and 27.0 million euros. The previous forecast had predicted 20.0 million euros. The portfolio was moreover expanded by buying up assets on a massive scale. “The year concluded was highly successful for ACCENTRO, not just from an operative and financial point of view. We also took a big step forward in strategic terms. For we completed our evolution into Germany’s first listed company purely focused on residential property. This marks a significant milestone in the development of ACCENTRO,” said Jacopo Mingazzini, the CEO of ACCENTRO Real Estate AG.

With notarised acquisitions totalling 1,765 units, the acquisition volume was boosted by around 57.3 percent year on year. The regional focus of the company’s buying spree is clearly on Berlin’s housing market (1,292 units). All units acquired are earmarked for the privatisation portfolio, and create new growth upside for ACCENTRO. The prosperous financial year concluded with the acquisition of 675 flats in Berlin's Hohenschönhausen district. The flats are to be thoroughly modernised over the next few years, and to be retailed in line with the business purpose of ACCENTRO.

As in previous years, ACCENTRO is poised for growth in 2017. “Berlin is, and will remain, our key market. But we will also become active outside Berlin whenever opportunities present themselves to us,” said Mingazzini. Additional growth opportunities are opening up for ACCENTRO in the housing construction sector. “Given the enormous boom in Germany’s major cities, we expect the coming years to bring a continued brisk increase in the volume of new construction. As a partner of property developers, we stand to benefit from the trend as well,” said Mingazzini.

About ACCENTRO Real Estate AG 

ACCENTRO Real Estate AG is a listed residential property company. Its core business consists of tenant-sensitive housing privatisations. The company's subsidiary ACCENTRO GmbH is the market leader for housing privatisation services in Germany. In addition to Berlin, current project and property locations include Leipzig, Hanover, Hamburg and – since July 2017 – Cologne.
ACCENTRO Real Estate AG has its registered office in Berlin and is listed on the Prime Standard of the Frankfurt Stock Exchange (German securities code number [WKN]: A0KFKB).

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