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MarketScreener Homepage  >  Equities  >  Xetra  >  CORESTATE Capital Holding S.A.    CCAP   LU1296758029

CORESTATE CAPITAL HOLDING S.A.

(CCAP)
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Corestate with preliminary figures for 2020: revenues within outlook, EBITDA and adjusted net profit miss company's expectations - outlook for 2021 foresees significant growth

02/23/2021 | 01:53pm EST

DGAP-Ad-hoc: Corestate Capital Holding S.A. / Key word(s): Annual Results
Corestate with preliminary figures for 2020: revenues within outlook, EBITDA and adjusted net profit miss company's expectations - outlook for 2021 foresees significant growth

23-Feb-2021 / 19:50 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 with preliminary figures for 2020: revenues within outlook, EBITDA and adjusted net profit miss company's expectations - outlook for 2021 foresees significant growth

- Aggregated revenues and gains of ? 191m, EBITDA of ? 17m, adjusted net profit of ? -48m

- Financial outlook for 2021: EBITDA between ? 90m and ? 115m

- Deleveraging target for 2021 confirmed, with a financial leverage ratio of under 3x

Luxembourg, 23 February 2021. Corestate Capital Holding S.A. (Corestate) has, based on its unaudited and preliminary figures, generated aggregated revenues and gains of ? 191m in 2020 and thus met its own financial outlook of ? 185m to ? 210m. EBITDA was at ? 17m and therefor also below the company's own expectations of ? 55m and ? 80m as was the adjusted net profit with
? -48m; here, the outlook stood between ? 25m and ? 50m. Both performance indicators fell significantly short of the company's own expectations on account of mainly non-cash effective, significant negative valuation effects and one-off expenses, but also due to writing-down of goodwill.

Cash and cash equivalents in the company stood at ? 91m at year-end. This figure does not yet include around ? 100m of mezzanine lending at the real estate financing subsidiary Helvetic Financial Services; repayment is scheduled for the first half of 2021 and will increase liquidity accordingly. Net financial debt at the end of December 2020 was at ? 517m. Based on the debt reduction already announced, the company reaffirms to reach the medium-term target corridor of 2.0x to 3.0x. by end of 2021.

The financial outlook for the current year forecasts an increase in aggregated revenues and gains to between ? 235m and ? 260m, EBITDA adjusted for the transaction costs related to the acquisition of Aggregate Financial Services ("AFS") of between ? 90m and ? 115m and adjusted net profit of between ? 50m and ? 75m. This outlook takes into account the pro rata consolidation of AFS from July 2021, as well as the currently foreseeable impact of the COVID-19 pandemic on the business activities and the economic environment of the company.

Notifying Person:
Dr. Kai Gregor Klinger
Chief Markets Officer
T: +49 69 3535630107 / M: +49 152 22755400
ir@corestate-capital.com

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.


23-Feb-2021 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: +49 69 3535630-107
Fax: +49 69 3535630-29
E-mail: IR@corestate-capital.com
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: 1170591

 
End of Announcement DGAP News Service

1170591  23-Feb-2021 CET/CEST

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© EQS 2021
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Financials
Sales 2020 194 M 231 M 231 M
Net income 2020 15,3 M 18,2 M 18,2 M
Net Debt 2020 487 M 579 M 579 M
P/E ratio 2020 21,0x
Yield 2020 0,93%
Capitalization 364 M 434 M 434 M
EV / Sales 2020 4,38x
EV / Sales 2021 2,99x
Nbr of Employees 761
Free-Float 96,9%
Chart CORESTATE CAPITAL HOLDING S.A.
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Technical analysis trends CORESTATE CAPITAL HOLDING S.A.
Short TermMid-TermLong Term
TrendsNeutralNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 6
Average target price 19,75 €
Last Close Price 14,19 €
Spread / Highest target 168%
Spread / Average Target 39,2%
Spread / Lowest Target -1,34%
EPS Revisions
Managers and Directors
NameTitle
René Parmantier CEO & Chairman-Management Board
Lars Schnidrig Chief Financial Officer
Friedrich Munsberg Chairman-Supervisory Board
Stefan Scherrer Chief Operating Officer
Nils Hübener Chief Investment Officer
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