Berlin, March 20, 2019 — ACCENTRO Real EstateAG (WKN: A0KFKB, ISIN: DE000A0KFKB3), Berlin, achieved a strong year-over-year increase in revenue in 2018 to 205.6 million euros (previous year: 147.3 million euros), representing a 39.6 percent increase, or 58.3 million euros. ACCENTRO AG maintained its net income at a high level of 18.3 million euros and intends to distribute approximately 30 percent of consolidated net income. This corresponds to a dividend of 0.16 euros per share.
ACCENTRO with Strengthened Financial Position
In fiscal year 2018, ACCENTRO AG succeeded in both placing a bond with a nominal value of 100 million euros and carrying out a cash capital increase through the issuance of 2,120,000 new shares. These two measures generated approximately 120 million euros (gross) for ACCENTRO AG, which significantly strengthened the company’s financial position and its strategic options. The refinancing interest rate also improved in the 2018 fiscal year due to the simultaneous redemption of the 2014/2019 convertible bond through conversion and termination. Despite the dividend payment and a significant increase in total assets, the equity ratio remained stable at a high level of 42.0 percent (previous year: 44.2 percent).
ACCENTRO on a Growth Trajectory with Intensified Sales Partnerships
The service segment reported a significant increase in earnings compared to the prior year, rising 141 percent to 2.3 million euros. This is primarily due to intensified partnerships in the sales of new-construction apartments. In addition, ACCENTRO secured access to larger privatization portfolios in Berlin and Hamburg through two equity investments. ACCENTRO will begin marketing these apartments on behalf of the owners in the course of 2019, which will have a positive impact on the earnings of ACCENTRO’s services division. Further such collaborations and investments are in the works for 2019.
Significant Increase in Total Assets and Current Assets
Total assets increased significantly by 126.4 million euros (36.4 percent) to 474.2 million euros (December 31, 2017: 347.8 million euros). Current assets increased by 67.5 million euros to 393.1 million euros (previous year: 325.6 million euros) and are primarily driven by the retail properties reported under inventories. During the 2018 fiscal year, the acquisition of 866 units laid the foundation for further stable earnings from the privatization business. Purchase agreements were concluded for an additional 177 units, which will expand inventory assets in the course of 2019.
Positive Outlook for the 2019 Fiscal Year
For the 2019 fiscal year, ACCENTRO expects revenue to rise moderately compared to the prior-year level, adjusted for the effects of the contribution of the Gehrensee portfolio (base: 163.3 million euros). Earnings before interest and taxes (EBIT) are expected to grow in the low double-digit percentage range.
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 cities and metropolitan areas in eastern Germany, as well as the Rhine-Ruhr metropolitan region and Bavaria. ACCENTRO’s business activities encompass four core areas. These include the sale of apartments to owner-occupiers and private investors at rent-based prices, 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 property owners, 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
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10789 Berlin
Phone
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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