ACCENTRO Real Estate : Interim report for the first quarter 2021

INTERIM REPORT Q12021

ACCENTRO	QUARTERLY STATEMENT for the period
Real Estate AG	1 January through 31 March 2021

ACCENTRO Real Estate AG

INTERIM REPORT	Q1 2021
for the period 1 January through 31 March 2021

Overview

Key Financial Data

	First Quarter 2021	First Quarter 2020
ACCENTRO Real Estate AG	01 Jan. 2021 -	01 Jan. 2020 -
31 March 2021	31 March 2020
Income statement	TEUR	TEUR
Group sales	27,587	14,900
Gross profit (interim result)	7,111	4,466
EBIT	2,264	423
EBT	-1,381	-6,008
Consolidated income	-2,877	-7,904
ACCENTRO Real Estate AG	31 March 2021	31 Dec. 2020
Balance sheet ratios	TEUR	TEUR
Non-current assets	339,037	311,348
Current assets	638,887	550,640
Shareholders' equity	247,577	247,101
Equity ratio	25.3%	28.7%
Total assets	977,923	861,987
Loan to value (LTV)*	57.4%	57.1%

• based on the definition specified in the terms of the 2020/2023 bond   (net financial debt relative to the adjusted total asset value)

ACCENTRO Real Estate AG

Company shares
Stock market segment	Prime Standard
ISIN	DE000A0KFKB3
German Securities Code Number (WKN)	A0KFKB
Number of shares as of 31 March 2021	32,437,934
Free float	12.12%
Share price high (1 January - 31 March 2021)*	EUR 9.05
Share price low (1 January - 31 March 2021)*	EUR 7.25
Closing price on 31 March 2021*	EUR 7.95
Market capitalisation on 31 March 2021*	EUR 257,881,575.30

* Closing prices in Xetra trading

Q1 2021	INTERIM REPORT	ACCENTRO Real Estate AG
for the period 1 January through 31 March 2021

Content

Letter to the Shareholders	4
Earnings, Financial and Asset Position	6
Directors and Officers	9
Supplementary Report	9
Opportunity and Risk Report	9
Forecast Report	10
Consolidated Balance Sheet	12
Consolidated Income Statement	14
The ACCENTRO Real Estate AG Share	16
Forward-looking Statements	19
Financial Calendar	20
Credits	21

ACCENTRO Real Estate AG

INTERIM REPORT	Q1 2021
for the period 1 January through 31 March 2021

Letter to

the Shareholders

Dear Shareholders,

Dear Ladies and Gentlemen,

The year got off to a brisk start for ACCENTRO. The volume of notarised property sales in the individual privatisation segment doubled year on year during the first quarter. Overall, 135 units in a total value of EUR 51.4 million were sold. The month of March actually achieved a new high-water mark in our 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 during the first quarter. It now adds up to EUR 50.7 million. The resurgence is the result of permanently strong marketing activities on the part of ACCENTRO during the past months. But it also shows that the COVID-19 pandemic keeps causing delays in the transfer of benefits and burdens.

The already secured sales, together with our existing sales pipeline in a volume of approximately half a billion euros, serve as mainstays of our growth trajectory. The pipeline assets held for sale, by the way,

have already been lawfully partitioned into condominiums, and are therefore unaffected by Germany's recently passed Development Land Release Act.

In the wake of the auspicious start to the year, ACCENTRO upholds the forecast for this year. We assume that revenues will grow by around 60% to somewhere between EUR 170 and 200 million (previous year: EUR 125.2 million) and the earnings before interest and tax (EBIT) by up to around 44% to somewhere between EUR 45 and 50 million (previous year: EUR 34.8 million).

Going forward, the Company will thus continue the work we started last year. Indeed, we will put the successful performance

of ACCENTRO on an even broader base. This will include, in addition to the selling of apartments to private and institutional investors, the geographical diversification of our real estate portfolio and in particular the further expansion of our proprietary housing

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Q1 2021	INTERIM REPORT	ACCENTRO Real Estate AG
for the period 1 January through 31 March 2021

After a brisk start we confirm our forecast for the year 2021.

stock. 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 cash flows.

Via this strategy, we will benefit even more from the attractive residential property market with its structural growth potential.

At this time, let me thank you for your trust, and tell you how much I look forward to having you aboard for the successful development of ACCENTRO in future.

Please stay safe and sound!

Kind regards,

Lars Schriewer

Chief Executive Officer

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