CORESTATE Capital S A : publishes new financial outlook for the financial year 2020

DGAP-Ad-hoc: Corestate Capital Holding S.A. / Key word(s): Forecast Corestate publishes new financial outlook for the financial year 2020 09-Sep-2020 / 09:10 CET/CEST Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. Corestate publishes new financial outlook for the financial year 2020 - Aggregated revenues between ? 185m and ? 210m - EBITDA between ? 55m and ? 80m - Adjusted net profit between ? 25m and ? 50m Luxembourg, 9 September 2020 - Corestate Capital Holding S.A. withdrew its financial outlook for 2020 on 22 April 2020 in light of the impact of the COVID-19 pandemic. The Company has since gained a significantly better overview of the further business trends and has therefore issued a financial outlook for the current financial year that has been adjusted for the effects of the COVID-19 crisis. Accordingly, the Company expects aggregated revenues and gains between ? 185m and ? 210m, EBITDA between ? 55m and ? 80m and adjusted net profit between ? 25m and ? 50m. The expectations reflect a reduction in transaction volume and a short-term shift in risk profiles with regard to institutional investors' investment preferences. In terms of revenues, the Company anticipates significantly lower income from transaction fees, success-based compensation elements, warehousing and alignment capital, in comparison to the original targets for the year. A view valuation adjustments on (co-)investments in the retail and serviced apartment sector as well as potential one-off expenses for structural adaptations to the new market conditions will also play a role. The mezzanine business of the private debt subsidiary HFS Helvetic Financial Services AG has so far been affected downstream and to only a very minor extent by the current crisis. At end of August 2020, the Company had a cash position of around ? 63m. The Company once again confirmed its ambition to reduce its net debt on short notice. The new forecast takes into account the negative impact of the COVID-19 pandemic to the extent foreseeable at the present time. However, the business impact of any potential official measures due to the further development of the pandemic, particularly new supra-regional lockdowns, cannot be fully predicted.   Further details on the performance indicators used are available on our website at https://corestate-capital.com/wp-content/uploads/2019/05/KPI-E-eng.pdf. Notifying person: Dr. Kai Gregor Klinger Chief Markets Officer T: [phone] [e-mail] 09-Sep-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de

Language:	English
Company:	Corestate Capital Holding S.A.
	4, Rue Jean Monnet
	L-2180 Luxembourg
	Luxemburg
Phone:	[phone]
Fax:	[phone]
E-mail:	[e-mail]
Internet:	www.corestate-capital.com
ISIN:	LU1296758029
WKN:	A141J3
Indices:	SDAX
Listed:	Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange
EQS News ID:	1129061

End of Announcement	DGAP News Service

1129061  09-Sep-2020 CET/CEST