Berlin, 26 March 2020 – ACCENTRO Real Estate AG can look back on a very successful 2019 financial year. The company posted a net result of 26.3 million euros (2018: 18.3 million euros), one of its best to date. The operating profit (EBIT) was 21 per cent higher than the EBIT in the previous year, and at nearly 40 million euros (2018: 32.8 million euros) it is the highest ever in the company’s history; this was generated to a significant degree by the high gross profit margin of 29.9% (2018: 27.6%) from the privatisation business. The consolidated sales in the 2019 financial year were 143.2 million euros, with the balance sheet total increasing over the cut-off date 31.12.2018 from 474.2 million euros to 580.7 million euros.  

Diversification develops positively

The nationwide expansion in Germany is moving forward. Thus it was possible to press ahead with the diversification of the real estate portfolio outside Berlin through the acquisition of a larger real estate portfolio in Upper Bavaria and of real estate portfolios in the Rhine-Main region. In total the portfolio of properties increased by a further 71.3 million euros.  

Continuation of expansion course

At the beginning of 2020 ACCENTRO succeeded in repaying a bond ahead of schedule and replacing it with a significantly larger bond with a volume of 250 million euros. “This shows the trust enjoyed by the company on the financial markets,” says Lars Schriewer, the chief executive officer of ACCENTRO. “With the additional leeway we are in a position to consummate further expansion. The first properties have already been acquired, others will follow,” adds Schriewer.

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). investors.accentro.de