THE GROUNDS REAL ESTATE DEVELOPMENT AG
DGAP-News: The Grounds Real Estate Development AG / Key word(s): Annual Results/Forecast
The Grounds Real Estate Development AG triples EBIT and multiplies net profit in 2020
2021-06-23 / 07:58
The issuer is solely responsible for the content of this announcement.
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CORPORATE NEWS
The Grounds triples EBIT and multiplies net profit in 2020
. Consolidated sales revenues +125 % to EUR 31.3 million
. EBIT tripled to EUR 6.1 million
. Consolidated profit after taxation increased to EUR 4.0 million
. Balance sheet total doubled to more than EUR 87.4 million
Berlin, 23 June 2021 - The Grounds Real Estate Development AG (The Grounds / ISIN: DE000A2GSVV5) completed the
financial year 2020 very successfully. In 2020, The Grounds significantly increased consolidated sales revenues to EUR
31.3 million (previous year: EUR 13.9 million) and more than tripled EBIT to EUR 6.1 million (previous year: EUR 2.0
million). Consolidated net income after taxation increased disproportionately to EUR 4.0 million (previous year: EUR 54
thousand).
Important milestones in 2020 include the acquisition of a real estate portfolio with 262 residential and commercial
units for the portfolio (Stendal/Prignitz), a non-cash capital increase carried out in the summer of 2020, by means of
which five project developments with a total investment volume of more than EUR 100 million - mostly with building
rights - were contributed, and the sale of a logistics property in Grünheide/Mark.
Continuation of the growth path in 2021: Successfully placed convertible bond and purchases of EUR 25 million
In 2021, The Grounds has already made purchases of residential properties worth EUR 25 million in the Berlin area,
thereby expanding its portfolio to 386 units and its privatisation portfolio to 96 units. The Grounds financed the
purchases with, inter alia, a significantly oversubscribed convertible bond with a volume of EUR 12 million, which was
placed in February 2021.
"In future, we wish to focus more strongly on the capital market and raise the profile of The Grounds. To this end, the
convertible bond was a first important milestone. And in future we will also be present more often at investor
conferences. We kicked off at the Frankfurt Spring 2021 Conference and the Quirin Champions Conference, where we were
able to convince investors with our growth story and received very positive feedback," comments Board Member Arndt
Krienen on the increased investor relations activities of The Grounds and adds: "In order to further increase our
transparency and to be able to address additional investor groups, promotion of our share will start with the
publication of the annual accounts of 2020. We are pleased to be accompanied in future by Quirin Bank and SMC Research,
two renowned analytics firms, in order to further expand our presence on the capital market."
"We are very satisfied with current developments. We have succeeded in making very interesting purchases in Berlin's
affluent suburbs- which we will continue to do. Equally significant is that we have been able to engage a team of
excellent colleagues, who are capable of realising our ambitious goals. This is at least as important as the
significant increases in 2020 and the positive forecasts for the further future", adds Board Member Jacopo Mingazzini.
Further growth in turnover and earnings in 2021 and subsequent years
On the assumption that contribution to revenue and earnings from the debtor warrant resulting from the sale of the
logistics property will not take effect until 2022, the Management Board expects consolidated revenue of EUR 23 million
and EBIT of around EUR 6 million for 2021.
This means further increases in turnover and key earnings figures in all operating areas, if the special effects from
the sale of the logistics property are excluded from the fixed assets.
The annual report for the financial year 2020 is now available for downloading from https://www.thegroundsag.com/
geschäftsberichte.html.
Contact details:
The Grounds Real Estate Development AG
Arndt Krienen/Jacopo Mingazzini, Board Members
Charlottenstrasse 79-80, D-10117 Berlin
T. +49 30 202168-66
F. +49 30 202168-49
Email: info@thegroundsag.com
Web: www.thegroundsag.com
Investor Relations:
UBJ GmbH
Ingo Janssen, Managing Director
Haus der Wirtschaft, Kapstadtring 10
D-22297 Hamburg
T. +49 40 637854-10
Email: ir@ubj.de
Web: www.ubj.de
Press contact:
RUECKERCONSULT GmbH
Peter Dietze-Felberg
Wallstrasse 16
D-10179 Berlin
T. +49 30 2844987-62
Email: dietze@rueckerconsult.de
Web: www.rueckerconsult.de
About The Grounds
The Grounds Group implements residential projects in German metropolitan regions. The Grounds Group also holds a
steadily growing portfolio of fixed assets in the residential sector. The Grounds Real Estate Development AG is listed
in the OTC segment of the primary market of the Düsseldorf Stock Exchange (ISIN: DE000A2GSVV5). It has its head office
in Berlin and has a branch office in Stuttgart.
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2021-06-23 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.
The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de
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Language: English
Company: The Grounds Real Estate Development AG
Charlottenstraße 79-80
10117 Berlin
Germany
Phone: 030 2021 6866
Fax: 030 2021 6489
E-mail: info@thegroundsag.com
Internet: www.thegroundsag.com
ISIN: DE000A2GSVV5, DE000A3H3FH2
WKN: A2GSVV, A3H3FH
Listed: Regulated Unofficial Market in Berlin, Dusseldorf (Primärmarkt), Frankfurt, Munich, Tradegate Exchange
EQS News ID: 1210726
End of News DGAP News Service
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June 23, 2021 01:58 ET (05:58 GMT)
