Berlin, May 3, 2019 – ACCENTRO Real Estate AG (WKN: A0KFKB, ISIN: DE000A0KFKB3), Berlin, set the stage for a successful 2019 fiscal year in the first quarter of 2019. By July 2019, more than 290 units with planned total sales of EUR 106.4 million and a profit contribution from sales of over EUR 35 million in the individual privatization segment will be put up for sale. ACCENTRO reaffirms its forecast for the current fiscal year and plans to expand its market leadership as Germany’s largest residential privatization group.
ACCENTRO Drives Expansion Outside Berlin
“We are successfully continuing to pursue our strategy of expansion beyond Berlin,” said Mingazzini. Acquisitions were made in Hamburg, Leipzig, Usedom, and Ratingen, as well as in Berlin. “We believe ACCENTRO Real Estate AG is on the right track and well-positioned for the future,” said Mingazzini.
Total assets increased by EUR 13.0 million to EUR 487.2 million compared to the balance sheet date of December 31, 2018. The privatization portfolio rose by 5.6% to EUR 364.5 million and, based on a valuation by an external appraiser as of December 31, 2018, includes hidden reserves of EUR 118 million. The ACCENTRO Group’s equity increased during the reporting period from EUR 199.1 million as of December 31, 2018, to EUR 199.5 million as of March 31, 2019.
Consolidated revenue for the first three months of fiscal year 2019 amounted to EUR 14.8 million. As of April 25, 2019, purchase agreements for sales with a volume of approximately EUR 30 million had been concluded but not yet completed.
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-like 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 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
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ACCENTRO Real Estate AG
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Phone: +49 (0)30 88 71 81 272