Berlin, 10 March 2017 – The Berlin-based company ACCENTRO Real Estate AG (German securities code number WKN: A0KFKB, ISIN: DE000A0KFKB3) just reported a consolidated income of 26.5 million euros during its 2016 financial year, which considerably exceeds its original income forecast. Indeed, ACCENTRO generated the highest consolidated income in the company’s history. The revenues in the privatisation sector, which is the company’s core business, more than tripled at 125.1 million euros (previous year: 39.5 million euros). “The enormous increase in revenues and profits for the reporting period go to show that the decision to shift the focus toward housing privatisation was a right thing to do. With a view to the robust performance, we shall propose to the annual general meeting to distribute a dividend for the first time ever,” said Jacopo Mingazzini, the CEO of ACCENTRO Real Estate AG. Assuming the shareholders’ consent, the company intends to distribute a dividend in the amount of 0.15 euros for the 2016 financial year. Relative to the year-end share price, this would equal a dividend yield of about two percent.
With the notarised acquisition of 1,765 residential units, thereof 1,292 units in Berlin, ACCENTRO stepped up its acquisition volume by roughly 58 percent year on year. “The recently bough flats form the basis for future growth,” said Mingazzini. The Management Board anticipates continues growth in revenues and EBIT during the 2017 financial year. It is expected that the earnings before interest and tax will reach 34 to 36 million euros by the end of 2017. The key market for the company will remain Berlin. “We are planning to keep expanding in Berlin, as well as in other metro regions in Germany,” Mingazzini explained. By setting up its own trading portfolio outside Berlin, ACCENTRO Group will keep expanding its position as reliable partner in the area of tenant-sensitive housing privatisations. “We will be privatising not just our own stock but flats owned by third parties as well,” Mingazzini explained.
The 2016 financial year was characterised in particular by the final deconsolidation of the bulk of the portfolio properties. The wind-up of the proprietary portfolio permits the company to focus fully on the trade with residential real estate,” said Mingazzini. “This makes us the first listed housing privatisation business in Germany whose business concentrates on the retailing of condominiums to a broad-based spectrum of society,” Mingazzini went on to say.
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
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