Berlin, August 8, 2019 – ACCENTRO Real Estate AG (WKN: A0KFKB, ISIN: DE000A0KFKB3), Berlin, laid the groundwork for a successful 2019 fiscal year in the first half of 2019. Consolidated revenue for the first half of fiscal year 2019 was EUR 34.5 million, and total assets increased by EUR 24.9 million compared to the balance sheet date of December 31, 2018, reaching EUR 499.1 million. The privatization portfolio rose by 12.6% to EUR 388.6 million. Consolidated net income was approximately EUR 3 million.
So far in the 2019 fiscal year, the company has acquired 350 apartments in 13 properties with a total value of 72 million euros and secured additional service contracts. Based on the divestitures already completed and those still planned, ACCENTRO reaffirms its forecast for the current fiscal year.
No Negative Impact from Current Berlin Policy
“The political discussions surrounding expropriations and a rent cap in Berlin—which remains our most important market—are, of course, not conducive to strengthening investor confidence in the location’s future development,” said Mingazzini, CEO of ACCENTRO. “At the moment, however, we are not seeing any noticeable decline in interest in purchasing condominiums—quite the opposite, in fact: the supply gap is currently growing every day, and prices continue to rise.”
About ACCENTRO Real Estate AG
ACCENTRO Real Estate AG is a residential real estate investor and the market leader in housing 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 sale of apartments to owner-occupiers and private investors at market-rate rents, 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
Rankestrasse 17
10789 Berlin
Phone
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+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