Berlin, August 5, 2016 – ACCENTRO Real Estate AG (WKN: A0KFKB, ISIN DE000A0KFKB3) has successfully sold a portfolio of 419 apartments in a central location in Berlin. Under the contract, which was notarized today and has a transaction volume of 51 million euros, ACCENTRO will generate a profit contribution of approximately ten million euros after taxes. The transaction will provide the company with cash proceeds of more than 30 million euros. “We will reinvest the free cash proceeds from the real estate sale into the development of our privatization portfolio. ACCENTRO holds a leading position among German real estate companies in the field of residential privatization. We will further expand this position through targeted acquisitions,” said Jacopo Mingazzini, CEO of ACCENTRO.
Planned Increase in 2016 Forecast and Dividend Proposal
With this successful transaction, ACCENTRO will significantly exceed the forecast originally set for fiscal year 2016. Instead of the previously announced 10 million euros after taxes, earnings after taxes are expected to be nearly double that amount. “In light of this very encouraging development, we plan to propose to the Annual Shareholders’ Meeting next year that a dividend be paid for the first time for the year 2016,” says Mingazzini. ACCENTRO Real Estate AG’s 2016 half-year results will be published on August 12, 2016. The impact of this real estate sale on earnings will be reflected in the second half of the year and is therefore not included in the financial statements for the first half of 2016.
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 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
Jan Hutterer
Kirchhoff Consult AG
Borselstraße 20
22765 Hamburg
Email: accentro@kirchhoff.de
+49 (0)40 – 609 186 65
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