DGAP-News: Accentro Real Estate AG / Key word(s): Annual Results/Real Estate 
ACCENTRO Increases Earnings before One-Off Effects to Record Level, and Continues its Dynamic Growth 
2021-05-05 / 08:00 
The issuer is solely responsible for the content of this announcement. 
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ACCENTRO Increases Earnings before One-Off Effects to Record Level, and Continues its Dynamic Growth 
- Consolidated revenues of EUR 125.2 million in 2020 
- Consolidated earnings before interest and taxes (EBIT) at EUR 34.8 million 
- One-off expenses of EUR 6.0 million negatively impact EBIT 
- Notarised volume of property sales exceeds prior-year level at EUR 118.7 million 
- Outlook for 2021: double-digit growth planned for revenues and EBIT 
Berlin, 5 May 2021 - ACCENTRO Real Estate AG, residential investor and Germany's leading residential property 
privatisation company, once again exceeded in 2020 the already strong figures of the previous year in terms of EBIT 
before one-off effects and sales volume. During the 2021 financial year, the company is expected to achieve 
double-digit growth in revenues and EBIT. 
The consolidated earnings before interest and taxes (EBIT) during the 2020 financial year equalled EUR 34.8 million 
(previous year: EUR 39.8 million). Earnings contributions from the fair value assessment of the portfolio properties 
had a clearly positive effect on the result. However, the earnings performance was impacted by pandemic-driven delays 
to transfers of benefits and burdens, which caused some of the profits expected in the fourth quarter of 2020 to be 
pushed back into 2021. In addition, one-off expenses in the amount of EUR 6.0 million diminished the EBIT. Excluding 
the one-off expenses, EBIT of the 2020 financial year would total EUR 40.8 million and thereby set a new record in the 
company's history. 
The consolidated revenues of the 2020 financial year added up to EUR 125.2 million (previous year: EUR 143.3 million). 
Here, too, delayed transfers of benefits and burdens caused revenues initially scheduled for the fourth quarter of 2020 
to be pushed back into 2021. Accordingly, the accumulated already notarised sales volume without completed change of 
use and burden as at 31 December 2020 has further increased to EUR 36.9 million (as at 30 September 2020: EUR 29.5 
million). 
Due to property acquisitions, the balance sheet total has also grown significantly to EUR 862.0 million as at 
31.12.2020 (as at 31.12.2019: EUR 580.8 million). As at balance sheet date, the hidden reserves of the inventory 
properties equalled EUR 135 million while the adjusted Net Asset Value (adj. NAV) approximated EUR 12 per share. The 
equity ratio as at balance sheet date was 28.7 percent. 
Real Estate Portfolio More than Doubled 
ACCENTRO invested massively in the expansion of its real estate portfolio during the past year, more than doubling it 
to over 5,000 units. Investments focused on fast-growing regions in East Germany and the Rhine-Ruhr metro region. 
The bulk of the roughly 3,500 units acquired are earmarked for the proprietary portfolio. Building up the own portfolio 
will play a key role going forward. Doing so the company increases rental income and sustainably improves the 
profitability of its business model through value-enhancing development of the portfolio in combination with successful 
sales. 
High Sales Level Defies Coronavirus Pandemic 
Despite the severe marketing restrictions imposed by the pandemic, the sales figures of ACCENTRO developed positively 
in 2020. With 420 property units retailed in privatisation sales, the company almost matched the robust performance of 
the year before (previous year: 463 units). In fact, the notarised sales volume topped the prior-year figure at EUR 
118.7 million (previous year: EUR 109.8 million). The same is true for the fourth quarter of 2020, as the sales total 
of 156 units (previous year: 117 units) and the notarised sales total of EUR 44.9 million (previous year: EUR 32.6 
million) each represented a year-on-year increase. 
The performance was matched by successful property portfolio sales to institutional investors such as pension funds and 
family offices in the course of the past year. For instance, ACCENTRO closed deals for 320 units with a notarised sales 
volume of c. EUR 40 million. 
"The positive trend in sales indicates, on the one hand, that residential real estate in Germany continues to have 
great significance for private and institutional investors. But on the other hand, it also points to our sales strength 
and the quality of our products. Without the one-off effects, ACCENTRO would have achieved a record year," said Lars 
Schriewer, the CEO of ACCENTRO Real Estate AG. 
Outlook for 2021: Double-Digit Growth Expected 
For the 2021 financial year, the management board expects to see a revenue and earnings growth well into the 
double-digit range. Revenues is expected to be between EUR 170 and 200 million and EBIT between EUR 45 and 50 million. 
On top of that, the current privatisation portfolio of ACCENTRO is certainly well stocked with an anticipated property 
sales volume of EUR 550 million, and paves the way for a continued successful business performance in the years ahead. 
At the same time, the growing property stock and the rental income derived from it are supposed to stabilise the 
business model further with their recurring earnings. 
"We are very well positioned, and will keep pursuing our growth trajectory. To this end, we can rely on the long-term 
structural growth of Germany's residential property market as robust foundation of our success," Lars Schriewer added. 
Note: 
The Annual Report for 2020 was published on 30 April 2020. 
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 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 division, ACCENTRO sells apartments 
on behalf of investors and property developers - including through equity investments 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 
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: 
Karl-Philipp Jann 
PB3C GmbH 
Rankestrasse 17 
D-10789 Berlin 
E-mail: jann@pb3c.com 
Tel. +49 (0)30 - 72 62 76 1612 
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2021-05-05 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 
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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:  1192505 
 
End of News   DGAP News Service 
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1192505 2021-05-05


 
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May 05, 2021 02:01 ET (06:01 GMT)