Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

ACCENTRO REAL ESTATE AG

(A4Y)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector news

ACCENTRO Real Estate : Starts Year with 85% Revenue Growth

06/01/2021 | 03:01am EDT

DGAP-News: Accentro Real Estate AG / Key word(s): Quarterly / Interim Statement/Real Estate
ACCENTRO Starts Year with 85% Revenue Growth

01.06.2021 / 09:00
The issuer is solely responsible for the content of this announcement.


ACCENTRO Starts Year with 85% Revenue Growth

- Strong growth in revenues and earnings during first quarter

- Sales volume in individual privatisation segment doubles to EUR 54.1 million

- Private investors accounted for about 90% of the flats sold in Q1

- Forecast for significant growth in 2021 confirmed
 

Berlin, 01 June 2021 - ACCENTRO Real Estate AG, an investor in residential real estate and Germany's leading housing privatisation company, looks back on a very successful first quarter.

Revenues surged by 85% to EUR 27.6 million (previous year: EUR 14.9 million), while the earnings before interest and taxes (EBIT) rose by an impressive 535% to EUR 2.3 million (previous year: EUR 0.4 million). Earnings per share improved accordingly, rising to EUR -0.09 (previous year: EUR -0.24). The gross profit margin in sales also developed positively, achieving 26.3% (previous year: 22.3%).

During the three opening months of the year, the volume of notarised property sales in the individual privatisation segment doubled year on year. Overall, 135 units in a total value of EUR 51.4 million were sold. The month of March actually marked a new record in the company's history.

At the same time, the volume of notarised property sales that are still awaiting their transfers of benefits and burdens continued to grow. As of 31 March 2021, it added up to EUR 50.7 million. The resurgence is the result of ACCENTRO's marketing activities, which have maintained a permanently strong level over the past months. But it also shows that the COVID-19 pandemic keeps causing delays in the transfer of benefits and burdens. As a result, the successful sales activities are reflected only to some extent in the revenue and earnings performance of the first quarter.

In the wake of a successful start to the year in line with our expectations, ACCENTRO confirms the forecast for this year. According to the forecast, revenues are expected to grow by around 60% to somewhere between EUR 170 and 200 million (previous year: EUR 125,2 million) and the EBIT by up to around 44% to somewhere between EUR 45 and 50 million (previous year: EUR 34.8 million).

Lars Schriewer, CEO of ACCENTRO Real Estate AG, expressed deep contentment: "The year got off to a brisk start for our company. During the first quarter, around 90% of the condominiums were sold to private investors. This demonstrates the persistently keen interest among owner-occupiers and private buy-to-let investors. Our broad-based portfolio of properties in attractive locations puts us in an excellent position to keep serving the strong demand in the years ahead." ACCENTRO' sales pipeline is well-filled, having a prospective sales value of approximately half a billion euros. The properties have already been lawfully partitioned into condominiums and are therefore exempt from the recently enacted Development Land Release Act that applies to residential real estate in "strained housing markets."

"The idea is to put the company's successful performance on a broader foundation in addition to the bright outlook in condominium sales," added Lars Schriewer. "Building up a propriety stock will play an important role in this effort in the years to come. We have the asset management and property management experience it takes to develop the latter for the long term, and thereby to secure sustainably growing rent revenues and cashflows."

About ACCENTRO Real Estate AG

ACCENTRO Real Estate AG is a residential property investor and Germany's market leader in housing privatisations. Its real estate portfolio consisted of around 5,200 units as of 31 December 2020. In addition to Berlin, regional focal points include East German cities and conurbations, as well as the Rhine-Ruhr metro region and Bavaria. The business activity of ACCENTRO comprises four core divisions. These are the tenant-sensitive retailing of condominiums to owner-occupiers and private buy-to-let investors, the sale of real estate portfolios to institutional investors, the set-up and management of a proprietary real estate portfolio, and third-party condominium marketing for property asset holders, investors and developers. The shares of ACCENTRO Real Estate AG are listed on the Prime Standard segment of the Frankfurt Stock Exchange (German securities code number WKN: A0KFKB, ISIN: DE000A0KFKB3). www.accentro.ag

 

Investor Relations Contact:

Thomas Eisenlohr
ACCENTRO Real Estate AG
Kantstrasse 44/45
D-10625 Berlin
E-mail: eisenlohr@accentro.de
Tel. +49 (0)30 - 88 71 81 272

 

Press and Public Relations Contact:

Christian Dose
WMP EuroCom AG
Barckhaus Strasse 1
D-60325 Frankfurt
E-mail: c.dose@wmp-ag.de
Tel. +49 (0)69 2475689491
Mobile: +49 (0)173 6679900



01.06.2021 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: 1202857

 
End of News DGAP News Service

1202857  01.06.2021 

fncls.ssp?fn=show_t_gif&application_id=1202857&application_name=news&site_id=zonebourse_sftp

ę EQS 2021
All news about ACCENTRO REAL ESTATE AG
09:43aDGAP-AFR : Accentro Real Estate AG: Preliminary announcement of the publication ..
DJ
09:30aPRESS RELEASE : ACCENTRO Shows Outstanding First Half Year 2021
DJ
09:30aACCENTRO REAL ESTATE : Shows Outstanding First Half Year 2021
EQ
07/19ACCENTRO REAL ESTATE : Expands Portfolio in NRW by 45%
EQ
07/19PRESS RELEASE : ACCENTRO Expands Portfolio in NRW by 45%
DJ
07/19ACCENTRO Real Estate AG Expands Portfolio in Nrw by 45%
CI
06/09ACCENTRO REAL ESTATE : Company Presentation Financial June 2021
PU
06/09ACCENTRO HOUSING COST REPORT 2021 : Homeownership is on Average 56% More Cost Ef..
PU
06/09ACCENTRO REAL ESTATE : IW Housing Cost Report 2021 An Analysis of Rents versus O..
PU
06/03PRESS RELEASE : ACCENTRO CFO Hans-Peter Kneip is leaving the company for persona..
DJ
More news
Financials
Sales 2021 195 M 230 M 230 M
Net income 2021 22,5 M 26,6 M 26,6 M
Net Debt 2021 539 M 638 M 638 M
P/E ratio 2021 10,7x
Yield 2021 1,43%
Capitalization 240 M 284 M 284 M
EV / Sales 2021 4,00x
EV / Sales 2022 3,74x
Nbr of Employees 93
Free-Float 12,1%
Chart ACCENTRO REAL ESTATE AG
Duration : Period :
ACCENTRO Real Estate AG Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends ACCENTRO REAL ESTATE AG
Short TermMid-TermLong Term
TrendsBearishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 5
Last Close Price 7,40 €
Average target price 11,34 €
Spread / Average Target 53,2%
EPS Revisions
Managers and Directors
Lars Schriewer Chief Executive Officer
Hans-Peter Kneip Chief Financial Officer
Axel Horst Harloff Chairman-Supervisory Board
Carsten Wolff Vice Chairman-Supervisory Board
Natig R. Ganiyev Member-Supervisory Board
Sector and Competitors
1st jan.Capi. (M$)
ACCENTRO REAL ESTATE AG-19.66%275
VONOVIA SE-3.68%38 616
CHINA VANKE CO., LTD.-28.40%36 565
DEUTSCHE WOHNEN SE20.90%21 527
VINGROUP JOINT STOCK COMPANY5.36%16 092
VINHOMES JOINT STOCK COMPANY23.46%15 865