PUBLITY AG Publication of inside information pursuant to Article 17 of the Regulation (EU)
THE INFORMATION CONTAINED IN THIS DOCUMENT IS NOT INTENDED FOR PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, TO, WITHIN OR FROM THE UNITED STATES OF AMERICA OR ANY OTHER COUNTRY WHERE SUCH PUBLICATION OR DISTRIBUTION WOULD BE CONTRARY TO THE LAWS OF THAT COUNTRY.
publity AG announces preliminary key figures for 2020 annual financial statements
- Net income according to HGB in 2020 expected to range between EUR 10 to 12.5 million despite Corona pandemic
- Revenue within range of EUR 14.5 to 16.5 million
- 2020 figures subject to final audit opinion
Frankfurt/Main, 04.06.2021 - According to preliminary, but as yet unaudited figures, publity AG ('publity', ISIN DE0006972508, Scale) generated a net profit for 2020 ranging from EUR 10 million to EUR 12.5 million pursuant to the German Commercial Code (HGB). Among other things, participation gains contributed to the annual surplus. The comparable annual surplus for 2019 of EUR 304.5 million was significantly affected by the contribution of the former subsidiary publity Investor GmbH. Adjusted for all special effects, the annual surplus in the previous year amounted to around EUR 5 million. This amount corresponds to the EUR 10 to 12.5 million for 2020.
According to preliminary figures, revenue in 2020 pursuant to HGB will range between EUR 14.5 and 16.5 million, which is below the previous year's figure of EUR 34 million. The decline in revenue is attributable to lower variable income from the asset management business due to the more difficult market conditions in the Corona pandemic. The previous year's turnover included higher variable income from asset management, i. a. through property acquisitions.
The Executive Board will thoroughly examine the options for utilising the profit and submit a proposal to the Supervisory Board that takes into account the negative impact of the Corona pandemic.
The complete annual financial statements and annual report for 2020 will be available on the company's website in the Investor Relations section as of 18 June 2021.
Information and explanatory notes of the issuer concerning this notification:
'The year 2020 faced significant social and economic challenges in the wake of the Corona pandemic. Across the industry, this led to significantly lower activity in asset management. Considering these circumstances, we are very satisfied with the preliminary annual figures for the 2020 financial year. The preliminary figures testify to the steady performance of our business model,' said Frank Schneider, CEO of publity AG.
Press Contact:
Financial Press and Investor Relations: edicto GmbH
Axel Mühlhaus/ Svenja Liebig Phone: +49 69 905505-56
Mail: publity@edicto.de
About publity
publity AG ('publity') is an asset manager and investor specialised in office real estate in Germany. The company covers the core of the value chain from the acquisition to the development and the sale of real estate. With over 1,100 transactions in the past seven years, publity is one of the most active players in the real estate market. publity is characterized by a sustainable network in the real estate industry and in the Work-Out departments of financial institutions. With very good access to investment funds, publity handles transactions rapidly with a highly efficient process and proven partners. On a case-by-case basis, publity participates as a co-investor in joint venture transactions and acquires real estate for its own portfolio. The shares of publity AG (ISIN DE0006972508) are traded on the Scale segment of Deutsche Börse.
publity AG announces preliminary key figures for 2020 annual financial statements
Attachments
- Original document
- Permalink
Disclaimer
Publity AG published this content on 04 June 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 June 2021 13:06:04 UTC.
