Berlin, March 26, 2020 – ACCENTRO Real EstateAG (WKN: A0KFKB, ISIN: DE000A0KFKB3), Berlin, looks back on a very successful 2019 fiscal year. The company achieved one of its best annual results to date, with revenue of EUR 26.3 million (2018: EUR 18.3 million). Operating profit (EBIT) was 21 percent higher than the previous year’s EBIT and, at just under EUR 40 million (2018: EUR 32.8 million), is the highest in the company’s history, driven primarily by the high gross profit margins from the privatization business, which stood at 29.9% (2018: 27.6%). Consolidated revenue for the 2019 fiscal year was 143.2 million euros, and total assets increased from 474.2 million euros as of the balance sheet date of December 31, 2018, to 580.7 million euros.
Diversification is progressing positively
Nationwide expansion continues to advance. The acquisition of a large real estate portfolio in Upper Bavaria and additional portfolios in the Rhine-Main region further advanced the diversification of the real estate portfolio outside Berlin. Overall, the portfolio of real estate holdings was expanded by an additional 71.3 million EUR.
Expansion Course Continues
In early 2020, ACCENTRO succeeded in repaying a bond ahead of schedule and replacing it with a significantly larger one with a volume of 250 million euros. “This demonstrates the trust the company enjoys in the capital market,” says Lars Schriewer, Chairman of the Executive Board at ACCENTRO. “With this additional financial flexibility, we are in a position to take further steps toward expansion. The first properties have already been acquired, and more will follow,” adds Schriewer.
About ACCENTRO Real Estate AG
ACCENTRO Real Estate AG is a residential real estate investor and the market leader in residential privatization in Germany. As of December 31, 2020, its real estate portfolio comprised approximately 5,200 units. In addition to Berlin, its regional focus includes major East German cities and metropolitan areas, as well as the Rhine-Ruhr metropolitan region and Bavaria. ACCENTRO’s business activities encompass four core areas. These include the tenant-oriented sale of apartments to owner-occupiers and private investors, the sale of real estate portfolios to institutional investors, the development and management of its own real estate portfolio, and the marketing of apartments for portfolio holders, investors, and project developers. The shares of ACCENTRO Real Estate AG are listed on the Prime Standard of the Frankfurt Stock Exchange (WKN: A0KFKB, ISIN: DE000A0KFKB3). investors.accentro.de
Contact for Press and Public Relations
Karl-Philipp Jann
PB3C GmbH
Rankestrasse 17
10789 Berlin
Phone
jann@pb3c.com
+49 (0)30 - 72 62 76 1612
Investor Relations Contact:
Thomas Eisenlohr
ACCENTRO Real Estate AG
Kantstraße 44/45
10625 Berlin
Email: eisenlohr@accentro.de
Phone: +49 (0)30 88 71 81 272