Disclosure of Inside Information Pursuant to Article 17 of Regulation (EU) No. 596/2014
Berlin, August 29, 2023 – ACCENTRO Real EstateAG (“ACCENTRO” or “the Company”) announces that it will not be able to meet the forecast for the 2023 fiscal year set out in the 2022 Annual Report.
Based on the consolidation of financial figures in preparation for the semiannual report, it has become apparent that the forecast consolidated revenue (EUR 100 to 120 million) for the 2023 fiscal year cannot be achieved. This will have a corresponding impact on consolidated EBIT, which will also fall short of the forecast (EUR 0 to 2 million).
This is due to the market situation, which remains extremely strained, and the ongoing weak demand in the housing market. Based on current information, sales figures from the privatization business in particular fell significantly short of the company’s expectations in the first half of 2023. Consolidated revenue for the first six months of the fiscal year amounted to only EUR 36.1 million, which was EUR 57.4 million below the prior-year level (comparative period: EUR 93.5 million). Consolidated EBIT for the reporting period amounted to -9.4 million EUR, a decrease of 18.4 million EUR compared to the previous year (comparable period: 9.0 million EUR).
With regard to business performance in 2023, the Executive Board does not expect that the forecast consolidated revenue will be achieved or that the negative consolidated EBIT from the first half of the year can be offset. Due to the unpredictable business environment, the Executive Board is currently unable to provide a well-founded and reliable forecast framework for the current fiscal year. The forecast is therefore temporarily suspended. For the 2023 fiscal year, a significant decline in consolidated revenue and consolidated EBIT compared to the original forecast is to be expected.
The half-year report for 2023 will be published as scheduled on August 31, 2023.
Person Issuing the Announcement:
Thomas Eisenlohr, Head of Investor Relations
Phone: +49 (0)30 887181272
eisenlohr@accentro.de
Berlin, August 29, 2023
The Executive Board: ACCENTRO Real Estate AG Kantstraße 44/45 D-10625 Berlin
ISIN: DE000A0KFKB3 / DE000A3H3D51 / DE000A254YS5
Stock Exchanges: Frankfurt Stock Exchange, Regulated Market (Prime Standard) / Luxembourg Stock Exchange
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