TTL Beteiligungs- und Grundbesitz-AG
TTL publishes Annual Report 2023
EQS-News: TTL Beteiligungs- und Grundbesitz-AG
/ Key word(s): Annual Report
Munich, 28.06.2024 TTL publishes Annual Report 2023
TTL Beteiligungs- und Grundbesitz-AG (“TTL AG”, “TTL”) (ISIN DE0007501009) published its results for the financial year 2023 on June 28, 2024. Transaction activity on the German investment market for commercial real estate in 2023 was characterized by the difficult financing environment and the unfavorable macroeconomic environment. This presented TTL with major challenges in the 2023 financial year. As a result, earnings contributions were significantly lower than in the previous year. Development of TTL shareholdings in 2023 The investment in Montano Real Estate GmbH (“Montano”) successfully concluded transactions in the office, retail, logistics and public social infrastructure asset classes relevant to the company with a total volume of EUR 270 million. At EUR 0.54 million, Montano’s contribution to earnings was only slightly down on the previous year (previous year: EUR 0.55 million). The indirect investment Branicks Group AG (“Branicks”, formerly: DIC Asset AG) closed the 2023 financial year on a subdued note. Assets under management amounted to EUR 13.2 billion at the end of the 2023 financial year (2022: EUR 14.7 billion). This decline was due to sales and valuation effects of -6.0 percent. Branicks reorganized its financial structures in 2023 and in the first months of the 2024 financial year, thereby setting the course for a sustainable, financially stable future for the company. Branicks development impacts the result “2023 was an extremely challenging year for TTL. We have acted consistently in response. Our strategy of focusing on reliability and stable partnerships is proving its worth,” says Theo Reichert, CEO of TTL AG. “For us, 2024 is now all about consolidation.” No dividend payment planned Outlook IMPORTANT KEY FIGURES
The 2023 Annual Report can be downloaded from the TTL AG website at the following link: About TTL The Munich-based company holds a 50 percent stake in TTL Real Estate GmbH, which has a direct 8.22 percent holding in the SDAX-listed DIC Asset AG. Since the end of 2020, TTL AG has held a 50 percent stake in Montano Real Estate GmbH, also based in Munich, one of the leading independent real estate investment and management companies in the German commercial real estate market with offices in Munich, Frankfurt and Berlin. Media and Investor Relations contact
28.06.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News – a service of EQS Group AG. |
Language: | English |
Company: | TTL Beteiligungs- und Grundbesitz-AG |
Maximilianstraße 35C | |
80539 München | |
Germany | |
Phone: | +49 (0)89 381611-0 |
Fax: | +49 (0)89 3915-92 |
E-mail: | sekretariat@ttl-ag.de |
Internet: | www.ttl-ag.de |
ISIN: | DE0007501009 |
WKN: | 750100 |
Listed: | Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 1935865 |
End of News | EQS News Service |