Publication of insider information pursuant to Article 17 of Regulation (EU) No 596/2014
Traumhaus AG presents preliminary consolidated results for 2019
Annual forecast is withdrawn
Wiesbaden, 21 April 2020 - Traumhaus AG (Frankfurt, m:access, Xetra, ISIN: DE000A2NB7S2) today presents its preliminary consolidated results for the financial year 2019 and corrects its forecast.
In the fiscal year 2019, Traumhaus AG, including all group companies, was able to increase its revenues by around 60% to EUR 86 million (previous year EUR 54 million) compared to the previous year. The Group was able to increase the total operating performance by approximately 12% to EUR 73 million (previous year EUR 65 million). At EUR 8 million, Group EBITDA remained at the previous year's level (EUR 8 million). The Group equity ratio increased by 1% to 16% (previous year 15%).
The revenue forecast of EUR 90 million for 2019 was thus almost achieved, while the planned EBITDA was missed by around EUR 5 million. The reduced profitability is due to three reasons. In around 40% of the property sales that took place in 2019, the purchasers will not receive the necessary land register entry for the transfer of ownership until the 2020 financial year due to unforeseeably long processing times from the approval authorities and land registry offices. The associated high-margin project development revenues will therefore not be reflected in revenues and earnings until the current financial year 2020. The resulting revenue shortfall was compensated by significantly increased but lower-margin construction revenues. In addition, increased costs were incurred in the area of not yet standardized construction activities (underground parking and earthworks in the new multi-family house segment). These will now be taken into account accordingly in future projects. In addition, the substantial increase in land purchases led to a significant rise in project preproduction costs, which will only lead to income in later periods. Land was acquired for EUR 32 million (previous year: EUR 17 million) and land acquisitions for further EUR 11 million were contractually secured.
The Management Board still expects a positive business trend in the current fiscal year. What economic impact the COVID 19 pandemic could have on the entire construction industry and thus also on Traumhaus AG is not possible to foresee in detail. For this reason, the company withdraws the forecast made for 2020.
About the company
Traumhaus AG, founded in Wiesbaden in 1993, is an experienced provider of innovative housing concepts and serial construction in solid building methods. The company covers the entire value chain: from land purchase (from 3,500 sqm) and project development through construction and marketing to the subsequent management of the properties. The leitmotif is: "We have the solution for affordable housing". An essential success factor for this is the sophisticated standardization of all process steps. Since August 2018, the company has been listed on the Munich Stock Exchange in the market segment m:access as well as in the over-the-counter market of the Frankfurt Stock Exchange and in Xetra trading.
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