Berlin, November 29, 2022 – Based on business performance and in light of the challenging market environment, the Executive Board of ACCENTRO Real Estate AG decided at its meeting today to adjust the forecast for fiscal year 2022 based on revised planning. The Executive Board now expects consolidated revenue of EUR 160 to 170 million (previously: EUR 200–220 million) and consolidated earnings before interest and taxes (EBIT) of EUR 8 to 10 million (previously: EUR 45–50 million).
The main reason for the adjustment to the forecast is the very significant weakening of demand in the second half of the year—due to challenging market conditions—both from private customers for apartments in individual privatization and from institutional investors for block sales of rental properties.
The new forecast takes into account business performance in the first nine months of fiscal year 2022. Consolidated revenue for the reporting period was EUR 144.6 million (previous year: EUR 125.4 million), and consolidated EBIT amounted to EUR 9.6 million (previous year: EUR 31.0 million).
The full interim report for the first nine months of fiscal year 2022 will be available on November 30, 2022, on the website www.accentro.de.
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 September 30, 2022, its real estate portfolio comprised approximately 5,200 units. In addition to Berlin, its regional focus includes major cities and metropolitan areas in central Germany as well as the Rhine-Ruhr metropolitan region. ACCENTRO’s business activities encompass three core areas: the sale of apartments to private owner-occupiers and 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 services for third parties. The shares of ACCENTRO Real Estate AG are listed on the Prime Standard segment of the Frankfurt Stock Exchange (WKN: A0KFKB, ISIN: DE000A0KFKB3). www.accentro.de
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