Adler Group S.A.: Update on timeline of special investigation
January 28, 2022 at 09:17 am EST
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DGAP-News: Adler Group S.A.
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Adler Group S.A.: Update on timeline of special investigation
28.01.2022 / 15:15
The issuer is solely responsible for the content of this announcement.
ADLER Group S.A.: Update on timeline of special investigation
KPMG forensic report not finalized before Q2 2022
Publication of 2021 financial statement postponed
bulwiengesa confirms yielding portfolio market value measured by CBRE
Berlin, 28 January 2022 - ADLER Group S.A. ("ADLER") reports that a comprehensive review conducted by KPMG forensic on the allegations by a short seller is ongoing and expected to be finalized not before Q2 2022.
As the results of this comprehensive review are a prerequisite for the completion of the audit of the 2021 consolidated financial statements, ADLER Group announces that it is postponing the publication of its annual report, scheduled for March 31. ADLER established an action plan together with KPMG aiming to publish the 2021 financial statement as soon as possible; this plan is now being consistently executed.
Another confirmation of the value of ADLER Group's Real Estate portfolio was provided by the renowned consulting company bulwiengesa. In an in-depth portfolio plausibility check bulwiengesa calculates the fair value of ADLER Group's yielding property portfolio as of end of June 2021 and confirms reported market value of ca. 8.87 billion EUR.
The results of the plausibility check by bulwiengesa also confirm that the methods used by CBRE for the portfolio valuation of Adler Group are widely used and recognized valuation methods for real estate valuations, particularly for portfolios of this size. The report from bulwiengesa can be found on the Adler Group Investor Relations website via: https://bit.ly/220128_bulwiengiesa.
Contact
Investor Relations:
T +352 278 456 710
E investorrelations@Adler-group.com
28.01.2022 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.
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Language:
English
Company:
Adler Group S.A.
1B Heienhaff
1736 Senningerberg
Luxemburg
Phone:
+352 278 456 710
Fax:
+352 203 015 00
E-mail:
investorrelations@adler-group.com
Internet:
www.adler-group.com
ISIN:
LU1250154413
WKN:
A14U78
Indices:
SDAX, FTSE EPRA/NAREIT Global Index, FTSE EPRA/NAREIT Developed Europe Index, FTSE EPRA/NAREIT Germany Index
Listed:
Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange; London, Luxembourg Stock Exchange, SIX
Adler Group SA, formerly known as ADO Properties, is a Luxembourg-based real estate company. The Company operates in Germany, in the residential real estate field with approximately 70,000 residential units, and a development pipeline of approximately 10,000 new flats in Germany. The Company focuses on asset and portfolio management, property and facility management and developing residential properties throughout Germany. The Company operates through two business segments: Residential property management and development. Residential property management offers renting and managing residential properties, the management of tenancy agreements and marketing of residential units with the focus on optimization of rental income. The development side of the business splits into build-to-sell projects and build-to-hold projects.
ADLER GROUP S.A. 
