Berlin, 20 March 2019 - ACCENTRO Real Estate AG, (WKN: A0KFKB, ISIN: DE000A0KFKB3), Berlin, achieved a strong year-on-year increase in sales to EUR 205.6 million in 2018 (previous year EUR 147.3 million), up by 39.6 percent or EUR 58.3 million. At EUR 18.3 million, ACCENTRO AG was able to maintain its net profit at a high level and plans to distribute around 30 percent of the company’s consolidated profit. This corresponds to a dividend of EUR 0.16 per share.
In fiscal year 2018, ACCENTRO AG successfully placed a bond with a nominal value of EUR 100 million and completed a capital increase by issuing 2,120,000 new shares. As a result of these two measures, ACCENTRO AG received around EUR 120 million (gross) in new capital, which significantly strengthened the company’s financial position and opened up a range of new business opportunities. The simultaneous redemption of the convertible bond 2014/2019 by conversion and termination also improved the refinancing interest rate in the 2018 fiscal year. The equity ratio remained stable at a high level of 42.0 percent (previous year: 44.2 percent), despite dividend payments and a significant increase in total assets.
ACCENTRO’s real estate services delivered a significant increase in revenues of 141 percent over the previous year, rising to EUR 2.3 million. This was mainly due to intensified cooperation in the sale of new apartments. In addition, ACCENTRO was able to secure access to larger privatisation portfolios in Berlin and Hamburg through two shareholdings. Here, ACCENTRO will begin selling the apartments on behalf of their owners in the course of 2019, which will have a positive effect on the results of ACCENTRO’s services division. Further partnerships and investments are already in the pipeline for 2019.
ACCENTRO’s total assets increased significantly by EUR 126.4 million (36.4 percent) to EUR 474.2 million (December 31, 2017: EUR 347.8 million). The company’s current assets increased by EUR 67.5 million to EUR 393.1 million (previous year: EUR 325.6 million) and primarily include the properties held for trading reported under inventories. During fiscal year 2018, the acquisition of 866 units laid the foundation for further stable income from the privatisation business. Purchase agreements were concluded for a further 177 units, which will increase inventories in the course of 2019.
For 2019, ACCENTRO expects sales to rise moderately compared with the previous year, adjusted for the effects of the Gehrensee portfolio (basis: EUR 163.3 million). Earnings before interest and taxes (EBIT) are expected to grow at a low double-digit rate.
ACCENTRO Real Estate AG is a residential property investor and Germany’s market leader in housing privatisations. Its real estate portfolio consisted of around 5,200 units as of 31 December 2020. In addition to Berlin, regional focal points include East German cities and conurbations, as well as the Rhine-Ruhr metro region and Bavaria. The business activity of ACCENTRO comprises four core divisions. These are the tenant-sensitive retailing of condominiums to owner-occupiers and private buy-to-let investors, the sale of real estate portfolios to institutional investors, the set-up and management of a proprietary real estate portfolio, and third-party condominium marketing for property asset holders, investors and developers. The shares of ACCENTRO Real Estate AG are listed on the Prime Standard segment of the Frankfurt Stock Exchange (German securities code number WKN: A0KFKB, ISIN: DE000A0KFKB3). investors.accentro.de
Accentro Real Estate AG
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