ACCENTRO Increases Sales Proceeds by 155 Percent
Sales increase by 132.6 % to 614 units during first nine months (previous year: 264 units)
Notarised sales volume grew by 155.2 % to EUR 188.6 million (previous year: EUR 73.9 million)
Forecast for 2021 confirmed: revenues of EUR 170-200 million, EBIT of EUR 45-50 million
Berlin, 7 October 2021 – ACCENTRO Real Estate AG, an investor in residential real estate and Germany’s leading housing privatisation company, looks back on a nine-month period of highly successful sales. The notarised sales volume had more than doubled, rising by a massive 155.2 % to EUR 188.6 million (previous year: EUR 73.9 million). The number of sold units developed just as dynamically, as it increased by 132.6 % to 614 units (previous year: 264 units).
Business during the third quarter continued to follow an extremely reassuring trend. The notarised sales volume increased by 156.4 % to EUR 72.3 million (previous year: EUR 28.2 million). The number of units sold increased by 149.0 % to 254 units (previous year: 102 units). In fact, September was the fastest-selling month since 2013, with 123 units sold.
Lars Schriewer, CEO of ACCENTRO Real Estate AG, showed himself quite content: “The excellent development in the housing privatisation business confirms the persistently strong demand for attractive residential accommodation. What our company brings to the market is a first-rate real estate portfolio, while our long-term experience and sound reputation inspire a high degree of confidence in investors.”
At the same time, Lars Schriewer takes a bright view of the future: “Given the highly successful sales of recent months, ACCENTRO laid an important foundation for the continuation of its prospering business performance. Accordingly, we confirm our forecast for 2021, and expect to see EUR 170 to 200 million in revenues and EUR 45 to 50 million in earnings before interest and income taxes (EBIT). Moreover, our existing sales pipeline for individual apartment sales is well filled, having a projected sales value of c. EUR 500 million. The properties have already been lawfully partitioned into condominiums and are therefore exempt from the Development Land Release Act.”
About ACCENTRO Real Estate AG
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 apartments 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 apartment 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). www.accentro.ag
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