Accentro Real Estate AG
Annual Report Accentro Real Estate AG:
PRESS RELEASE ACCENTRO REAL ESTATE AG Reports Best FFO Performance in the Company’s Annals – Net income during 2014 short financial year: EUR 7.07 million – Earnings per share jump to EUR 0.28 – Focus on privatisation business line pays off – Fivefold increase in earnings before interest and taxes – NAV per share EUR 3.51 (end of 2013/2014 FY: EUR 3.28) Berlin, 30 March 2015 – The Berlin-based public limited company ACCENTRO Real Estate AG (ISIN: DE000A0KFKB3) concluded its 2014 short financial year with its best-ever funds from operations performance. ACCENTRO, one of Germany’s market leaders in housing privatisation, recorded EUR 19.35 million in funds from operations (EBIT) at the end of the 2014 short financial year of six months, which is five times the EBIT of EUR 3.8 million that had been posted by the end of the prior-year period (second semester 2013). At EUR 7.07 million, the post tax profits achieved their highest value since 2007. Earnings per share rose to EUR 0.29 (diluted: EUR 0.28). The company, which has been listed in the Prime Standard since 2006, and whose financial year used to end on 30 June, began a short financial year ending on 31 December 2014 in order to adjust its financial year with that of its parent company, the Frankfurt-based ADLER Real Estate AG, which coincides with the calendar year. ACCENTRO thus accomplished a significant turnaround in the course of the short financial year, which is remarkable insofar as the previous financial year of 2013/2014 had still been concluded at a loss that was essentially caused by tax effects in connection with the company’s takeover by ADLER Real Estate AG. An important prerequisite was the acquisition of 4,300 residential units in October 2014, which represented the largest portfolio acquisition in the history of ACCENTRO AG. Around 900 residential units out of this portfolio are earmarked for privatisation, whereas around 3,400 are intended for long-term ownership by the ADLER Group. In conjunction with the acquisition, a sizeable share of the housing stock was refinanced in order to exploit the favourable market conditions. In line with the shift in focus toward privatisations, ACCENTRO divested itself entirely from its commercial real estate stock in December. Mingazzini is convinced that ‘concentrating on our core competence will translate into substantial cost savings in the future.’ Privatisation Business as Revenue Driver Mingazzini: Clear-Cut Growth Outlook Key ratios for the 2014 short financial year (01 July – 31 December 2014) 6M FY 2014 6M 31/12/13 12M FY 2013/14 The complete annual report for the 2014 short financial year will be available for download as of 30 March 2015 at http://www.accentro.ag/investor-relations/finanzberichte in English and German. ACCENTRO Real Estate AG has its registered office in Berlin and is listed on the Prime Standard of the Frankfurt Stock Exchange (German Securities Code Number [WKN]: A0KFKB). Media and Public Relations Contact: Contact: ACCENTRO Real Estate AG – Investor & Public Relations – Tel: + 49 30 887 181 799 – E-Mail: ir@accentro.ag End of Media Release Issuer: Accentro Real Estate AG Key word(s): Real estate 2015-03-30 Dissemination of a Press Release, transmitted by DGAP – a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de
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