Berlin, 6 November 2019 – The Berlin-based property company ACCENTRO Real Estate AG (WKN: A0KFKB, ISIN: DE000A0KFKB3) just presented a solid nine-month account for its 2019 financial year and reaffirmed its EBIT forecast. Consolidated revenues came to EUR 73.4 million while the total assets increased by EUR 43.6 million since the balance sheet date of 31 December 2018, climbing to a sum total of EUR 517.9 million and thus crossed the mark of half a billion euros for the first time. Despite reclassifications, the privatisation portfolio grew by EUR 17.3 million to EUR 362.6 million. The consolidated income equalled nearly EUR 13 million.
In the course of the third quarter of 2019, ACCENTRO AG decided to retain some of its real estate portfolio an extended period of time. Earmarked for long-term ownership are mainly those properties whose development in order to raise their potential through new construction and alteration will take several years. “The parallel set-up of a high-yield proprietary portfolio with appreciation potential will in no way change our principal focus on privatisation; this being simply a case of seizing one-off opportunities. But ventures like these will remain a minor part of our balance sheet total,” said Mingazzini, the CEO of ACCENTRO.
During the third quarter, equity investments in new-build construction projects were expanded as planned by acquiring a 49 % stake in a property development in the greater Berlin area that will potentially deliver 19,000 sqm of gross floor area.
The complete interim report for the first nine months of the 2019 financial year is available for download at 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, Leipzig and the greater Munich area. 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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