Berlin, 6 November 2019 – The Berlin-based property company ACCENTRO Real Estate AG (WKN: A0KFKB, ISIN: DE000A0KFKB3) just presented a solid nine-month account for its 2019 financial year and reaffirmed its EBIT forecast. Consolidated revenues came to EUR 73.4 million while the total assets increased by EUR 43.6 million since the balance sheet date of 31 December 2018, climbing to a sum total of EUR 517.9 million and thus crossed the mark of half a billion euros for the first time. Despite reclassifications, the privatisation portfolio grew by EUR 17.3 million to EUR 362.6 million. The consolidated income equalled nearly EUR 13 million.
In the course of the third quarter of 2019, ACCENTRO AG decided to retain some of its real estate portfolio an extended period of time. Earmarked for long-term ownership are mainly those properties whose development in order to raise their potential through new construction and alteration will take several years. “The parallel set-up of a high-yield proprietary portfolio with appreciation potential will in no way change our principal focus on privatisation; this being simply a case of seizing one-off opportunities. But ventures like these will remain a minor part of our balance sheet total,” said Mingazzini, the CEO of ACCENTRO.
During the third quarter, equity investments in new-build construction projects were expanded as planned by acquiring a 49 % stake in a property development in the greater Berlin area that will potentially deliver 19,000 sqm of gross floor area.
The complete interim report for the first nine months of the 2019 financial year is available for download at Financial Reports in English and German.
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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