In the first nine months of this year the Deutschen Grundstücksauktionen AG and its 100% subsidiaries, market leader for property auctions in Germany, sold 1.383 objects (2015: 1.474 objects) and hence gathered a object turnover of € 71,6 mio.

This marks a decrease of 10,6 % regarding the very good result of the previous year (€ 80,1 mio.) The decrease of turnover is explained amongst other things by the 30thcompany anniversary which took place in the third quarter of the previous year and was marked by the largest quarter turnover of the company history of over € 35,4 mio..

The net broker's fee revenue that is excluding turnover tax and possible under-provisions decreased in the first 9 months of 2016 marginally by only 1 % and were at € 7,61 mio. (after € 7,69 mio. of the previous year).

In total 90,3 % of all called objects were sold (previous year 87,7 %).

Outlook:

We expect that the present frame conditions will not change in the last quarter of 2016 and that we will further on succeed in acquiring many interesting objects for the auctions which we are able to sell to the satisfaction of the owners.

We are optimistic that for the forth quarter we are again able to achieve a good result.

Deutsche Grundstücksauktionen AG published this content on 05 October 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 12 October 2016 09:20:06 UTC.

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