Press Release

ACCENTRO Real Estate AG: Stable Sales Volume and Growth in Revenues during First Half of 2020


August 2020

Berlin, 13 August 2020 – ACCENTRO Real Estate AG, Germany’s leading housing privatisation company, published its six-month results for the 2020 financial year today. Despite the coronavirus pandemic, the company realised a sales volume of EUR 45.6 million in its core segment, which is housing privatisation, matching the prior-year level (prev. year: EUR 46.4 million). This was achieved by compensating for the predictable contraction in condominium sales during the corona-related lockdown by selling higher-priced units in up-market locations, among other countermeasures.

At EUR 37.4 million, the revenues of ACCENTRO Real Estate AG slightly exceeded the prior-year figure (prev. year: EUR 34.5 million). This does not even take into account sale and purchase agreements in an aggregate volume of EUR 27.1 million whose transfers of benefits and burdens have been delayed among other things by corona-related bottlenecks at the land registries. Earnings before interest and tax (EBIT) took a dip at EUR 1.2 million (prev. year: EUR 6.6 million). The earnings performance is also explained by one-off effects in the amount of EUR 5.4 million.

Lars Schriewer, CEO of ACCENTRO Real Estate AG, faces the coming months with confidence: “The persistently strong interest in our flats, and the recently resurgent number of sales closed are a positive signal, and make us optimistic about achieving the targets we set ourselves this year. When including the units that we will put on the market during the second half-year, our company’s sales volume adds up to more than half a billion euros (EUR 526 million). Our pipeline is well filled therefore, and our business will gather significant momentum during the second half of this year.”

Assuming not least that the coronavirus crisis will ease as the year progresses, the company reaffirmed its forecast of a modest growth in revenues, and of earnings before interest and taxes (EBIT) that match the prior-year level. In this context, it expects the number of apartment retail sales to keep going up while also expecting a few block sales to institutional investors. Further acquisitions increased the stock of inventory properties to EUR 470.4 million by mid-year (31/12/2019: EUR 416.6 million). As at balance sheet date of 30 June 2020, the hidden reserves amounted to EUR 150 million. The company considers itself well-positioned for the further expansion of its real estate portfolio. Lars Schriewer commented: “We regularly review options to acquire flats with capital appreciation potential in attractive locations on behalf of our clients. Our broad-based network and our robust liquidity provide us with the necessary basis for doing so.”

The half-year financial report for the 2020 financial year is available for download.

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 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).

Contact for investor relations

Thomas Eisenlohr


Kantstraße 44/45

10625 Berlin



+49 (0)30 - 88 71 81 272

Press And Public Relations Contact

Karl-Philipp Jann


Rankestrasse 17

10789 Berlin



+49 (0)30 - 72 62 76 1612

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