DGAP-News: Accentro Real Estate AG: ACCENTRO achieves record sales in fiscal year 2018 and grows strongly

DGAP-News: Accentro Real Estate AG / Key word(s): Real Estate/Annual Results

Accentro Real Estate AG: ACCENTRO achieves record sales in fiscal year 2018 and grows strongly

20.03.2019 / 08:00

The issuer is solely responsible for the content of this announcement.


ACCENTRO achieves record sales in fiscal year 2018 and grows strongly

Sales in fiscal year 2018 increase by 39.6% to EUR 205.6 million

Balance sheet total increases significantly by EUR 126.4 million (36.4%) to EUR 474.2 million

Dividend payment of EUR 0.16 planned

Berlin, 20 March 2019 - ACCENTRO Real Estate AG, (WKN: A0KFKB, ISIN: DE000A0KFKB3), Berlin, achieved a strong year-on-year increase in sales to EUR 205.6 million in 2018 (previous year EUR 147.3 million), up by 39.6 percent or EUR 58.3 million. At EUR 18.3 million, ACCENTRO AG was able to maintain its net profit at a high level and plans to distribute around 30 percent of the company's consolidated profit. This corresponds to a dividend of EUR 0.16 per share.

ACCENTRO with strengthened financial resources

In fiscal year 2018, ACCENTRO AG successfully placed a bond with a nominal value of EUR 100 million and completed a capital increase by issuing 2,120,000 new shares. As a result of these two measures, ACCENTRO AG received around EUR 120 million (gross) in new capital, which significantly strengthened the company's financial position and opened up a range of new business opportunities. The simultaneous redemption of the convertible bond 2014/2019 by conversion and termination also improved the refinancing interest rate in the 2018 fiscal year. The equity ratio remained stable at a high level of 42.0 percent (previous year: 44.2 percent), despite dividend payments and a significant increase in total assets.

ACCENTRO on course for growth with deeper sales partnerships

ACCENTRO's real estate services delivered a significant increase in revenues of 141 percent over the previous year, rising to EUR 2.3 million. This was mainly due to intensified cooperation in the sale of new apartments. In addition, ACCENTRO was able to secure access to larger privatisation portfolios in Berlin and Hamburg through two shareholdings. Here, ACCENTRO will begin selling the apartments on behalf of their owners in the course of 2019, which will have a positive effect on the results of ACCENTRO's services division. Further partnerships and investments are already in the pipeline for 2019.
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