LUXEMBOURG (dpa-AFX) - The ailing real estate group Adler Group has again suffered a loss of billions in 2022. The bottom line was a loss of almost 1.7 billion euros due to a devaluation of the real estate portfolio as well as the value adjustment on receivables, as the Adler Group announced in Luxembourg on Tuesday. A year earlier, the company had already reported a loss of just under 1.2 billion. The value of the rental portfolio at the end of 2022 was 1.9 percent below the previous year's figure at 5.2 billion euros, according to a valuation by independent appraisers.

The business figures for 2022 are unaudited as the company has not yet found a new auditor. Last year, the auditing firm KPMG terminated its mandate due to differences of opinion. The restructuring plan calls for Adler Group to publish an audited annual report for 2022 and 2023 by the end of September 2024. Rödl & Partner now wants to take over the audit for the German subsidiary Adler Real Estate.

It was only in mid-April that a British court gave the real estate group the green light for the planned restructuring. "The agreement reached with Adler Group's bondholders in November 2022 was a decisive milestone on the way to securing the group's financial stability," said company CEO Thierry Beaudemoulin. Following the decision of the London High Court, the company is now in a position to implement its restructuring plan, he added./mne/zb/jha/