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MarketScreener Homepage  >  Equities  >  Xetra  >  ACCENTRO Real Estate AG    A4Y   DE000A0KFKB3

ACCENTRO REAL ESTATE AG

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Accentro Real Estate AG: Successful 2019 financial year for ACCENTRO

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03/26/2020 | 02:05am EDT

DGAP-News: Accentro Real Estate AG / Key word(s): Annual Results
Accentro Real Estate AG: Successful 2019 financial year for ACCENTRO

26.03.2020 / 08:00
The issuer is solely responsible for the content of this announcement.


PRESS RELEASE

Successful 2019 financial year for ACCENTRO

Berlin, 26 March 2020 - ACCENTRO Real Estate AG can look back on a very successful 2019 financial year. The company posted a net result of 26.3 million euros (2018: 18.3 million euros), one of its best to date. The operating profit (EBIT) was 21 per cent higher than the EBIT in the previous year, and at nearly 40 million euros (2018: 32.8 million euros) it is the highest ever in the company's history; this was generated to a significant degree by the high gross profit margin of 29.9% (2018: 27.6%) from the privatisation business. The consolidated sales in the 2019 financial year were 143.2 million euros, with the balance sheet total increasing over the cut-off date 31.12.2018 from 474.2 million euros to 580.7 million euros.

Diversification develops positively

The nationwide expansion in Germany is moving forward. Thus it was possible to press ahead with the diversification of the real estate portfolio outside Berlin through the acquisition of a larger real estate portfolio in Upper Bavaria and of real estate portfolios in the Rhine-Main region. In total the portfolio of properties increased by a further 71.3 million euros.

Continuation of expansion course

At the beginning of 2020 ACCENTRO succeeded in repaying a bond ahead of schedule and replacing it with a significantly larger bond with a volume of 250 million euros. "This shows the trust enjoyed by the company on the financial markets," says Lars Schriewer, the chief executive officer of ACCENTRO. "With the additional leeway we are in a position to consummate further expansion. The first properties have already been acquired, others will follow," adds Schriewer.

About ACCENTRO Real Estate AG
ACCENTRO Real Estate AG is Germany's market leader in housing privatisations. In addition to its home market of Berlin, the company focuses on auspicious metro regions such as Hamburg, Rhine-Ruhr, Rhine-Main and Leipzig. In its Privatisation business unit, ACCENTRO retails condominiums from its proprietary portfolio to owner-occupiers and buy-to-let investors or-bundled into portfolios-to institutional investors. In its Services & Ventures business unit, ACCENTRO sells apartments on behalf of investors and property developers-including through equity investments in its own right within the framework of joint ventures. ACCENTRO Real Estate AG is listed on the Prime Standard segment of the Frankfurt Stock Exchange (German securities code number WKN: A0KFKB, ISIN: DE000A0KFKB3).
www.accentro.ag

Contact for Press and Public Relations Work:
Karl-Philipp Jann
PB3C GmbH
Rankestrasse 17
D-10789 Berlin
E-mail: jann@pb3c.com
Tel. +49 (0)30 - 72 62 76 1612
Fax 163 (0)30 - 83 62 76 49



26.03.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de


Language: English
Company: Accentro Real Estate AG
Kantstr. 44/45
10625 Berlin
Germany
Phone: +49 (0)30 - 887 181 - 0
Fax: +49 (0)30 - 887 181 - 11
E-mail: info@accentro.ag
Internet: www.accentro.ag
ISIN: DE000A0KFKB3
WKN: A0KFKB
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 1007565

 
End of News DGAP News Service

1007565  26.03.2020 

fncls.ssp?fn=show_t_gif&application_id=1007565&application_name=news&site_id=zonebourse

© EQS 2020
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Financials (EUR)
Sales 2020 186 M
EBIT 2020 34,5 M
Net income 2020 15,3 M
Debt 2020 271 M
Yield 2020 1,65%
P/E ratio 2020 18,5x
P/E ratio 2021 12,0x
EV / Sales2020 2,98x
EV / Sales2021 2,66x
Capitalization 282 M
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Income Statement Evolution
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Mean consensus BUY
Number of Analysts 5
Average target price 9,82  €
Last Close Price 8,70  €
Spread / Highest target 27,6%
Spread / Average Target 12,9%
Spread / Lowest Target -8,05%
EPS Revisions
Managers
NameTitle
Lars Schriewer Chief Executive Officer
Axel Horst Harloff Chairman-Supervisory Board
Dirk Hoffmann Deputy Chairman-Supervisory Board
Natig R. Ganiyev Member-Supervisory Board
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