Berlin, August 5, 2016 – ACCENTRO Real EstateAG (WKN: A0KFKB, ISIN DE000A0KFKB3) today sold a real estate portfolio comprising 419 residential units in a central location in Berlin. The sale, expected to close in the third quarter of 2016, will generate revenue of 51 million EUR and contribute approximately 10 million EUR in earnings after taxes, resulting in a significant jump in earnings. With this sale, 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. Due to this positive development, ACCENTRO plans to propose a dividend for fiscal year 2016 at the Annual General Meeting.
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.
Identity of the person making the announcement: Jacopo Mingazzini, Member of the Executive Board
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-level 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
Aug. 5, 2016 / 3:48 p.m. CET/CEST / Disclosure of inside information pursuant to Article 17 of the Market Abuse Regulation (MAR)
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