Berlin, April 26, 2021 – ACCENTRO Real Estate AG, Germany’s leading residential privatization company, has released preliminary figures for the 2020 fiscal year.
Consolidated earnings before interest and taxes (EBIT) for the 2020 fiscal year amounted to EUR 34.8 million. In its forecast, the Executive Board had anticipated EBIT at the previous year’s level (previous year: EUR 39.8 million). A major reason for the deviation from the forecast was the pandemic-related delay in the transfer of benefits and liabilities, which caused results planned for the fourth quarter of 2020 to be carried over into 2021. In addition, one-time expenses totaling EUR 6.0 million had a negative impact on EBIT in the reporting year, of which EUR 4.0 million were incurred in the fourth quarter of 2020. Excluding these one-time expenses, EBIT for fiscal year 2020 would have amounted to EUR 40.8 million, slightly exceeding the prior-year figure.
Consolidated revenue for the 2020 fiscal year amounted to EUR 125.2 million. In its forecast, the Executive Board had expected revenue to be slightly above the prior-year figure (prior year: EUR 143.3 million). Here, too, the delayed transfer of benefits and obligations for the fourth quarter of 2020 shifted planned revenue into 2021. Accordingly, the cumulative sales volume already documented but not yet accompanied by a transfer of benefits and obligations as of December 31, 2020, rose further to EUR 36.9 million (as of September 30, 2020: EUR 29.5 million).
Despite severe sales restrictions caused by the pandemic, ACCENTRO AG’s sales figures developed positively in 2020. With 420 units sold through individual privatization, the company was able to nearly match the strong performance of the previous year (prev. year: 463 units). The notarized sales volume of EUR 118.7 million was even higher than the previous year’s figure (prev. year: EUR 109.8 million). In the fourth quarter of 2020 as well, sales of 156 units (prev. yr.: 117 units) and the notarized sales volume of 44.9 million EUR (prev. yr.: 32.6 million EUR) exceeded the previous year’s figures.
On average, analysts’ estimates for the 2020 fiscal year project consolidated revenue of EUR 141.1 million and consolidated earnings before interest and taxes (EBIT) of EUR 35.9 million.
ACCENTRO plans to publish its final results and the annual report for 2020 on April 30, 2021.
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 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
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