28.04.2021 Noratis AG  DE000A2E4MK4

DGAP-News: Noratis AG significantly extends real estate portfolio in 2020 and closes fiscal year as planned - Dividend proposal of EUR 0.50 per share


DGAP-News: Noratis AG / Key word(s): Dividend/Real Estate
Noratis AG significantly extends real estate portfolio in 2020 and closes fiscal year as planned - Dividend proposal of EUR 0.50 per share

28.04.2021 / 08:30
The issuer is solely responsible for the content of this announcement.

Noratis AG significantly extends real estate portfolio in 2020 and closes fiscal year as planned - Dividend proposal of EUR 0.50 per share

- EBIT: EUR 8.2 million; EBT: EUR 4.2 million pursuant to IFRS

- Portfolio extended to 3,632 units at the end of 2020

- 2021: significantly higher EBIT and EBT planned with further expansion of the portfolio

Eschborn, 28 April 2021 - Noratis AG (ISIN: DE000A2E4MK4, WKN: A2E4MK, "Noratis") has closed the fiscal year 2020 as planned. The real estate portfolio was significantly extended by around 50 % to 3,632 units including the acquired property 12.9 million during the previous year.

With a view to the expansion of the portfolio, Noratis deliberately refrained from larger real estate sales during the past year. As a result, in the financial statements, prepared for the first time pursuant to IFRS, the earnings before interest and taxes (EBIT) remained with EUR 8.2 million under the comparable prior year IFRS value of EUR 15.8 million, as planned. The earnings before taxes (EBT) amounted to EUR 4.2 million, after EUR 11.5 million during the previous year. The consolidated net income amounted to EUR 2.8 million after EUR 8.3 million in 2019.

As a portfolio developer Noratis recognises its properties within current assets so that the reported figures do not include any revaluation gains. In future, however, the company might transfer individual properties to a standing portfolio in fixed assets. The reported equity rose to EUR 74.2 million by the end of 2020. Including hidden reserves of the portfolio of around EUR 49 million, the net asset value (NAV) on the basis of market values amounted to EUR 22.80 per share.

The Management Board and the Supervisory Board will propose the distribution of a dividend of EUR 0.50 per share to the ordinary general meeting, scheduled to take place on 16 June 2021. This includes the distribution of around half of the after-tax result in accordance with the dividend policy of Noratis as well as the distribution reserve retained last year.

Noratis is very satisfied with the business development of 2020. 1,311 units were acquired throughout Germany and only 86 units were sold, as planned, by means of individual sales of condominiums and smaller portfolio transactions. As a result of this deliberate reduced sales volume in 2020, Noratis AG has laid the foundation for incremental results in the coming years. With Merz Real Estate, which acquired a stake in Noratis last year, the company has an anchor shareholder at its side who also supports the planned further growth financially.

As far as 2021 is concerned, Noratis assumes that the good business development will continue. Apart from a further extension of the portfolio, a clear increase of sales revenues is planned. Consequently, Noratis anticipates a significantly higher EBIT and EBT for 2021 compared to the previous year.

André Speth, CFO of Noratis AG: "In 2020 we have achieved our plans in full and continued to develop the company also strategically. With the significant expansion of our portfolio, we have taken a major step towards our goal of being profitable already on the basis of recurring rental income alone. This enables us to better control the time of sale of the optimised properties and hence generate additional returns for our shareholders. With the transition of our financial reporting system to IFRS, Noratis AG has, moreover, opened itself up to a wider circle of investors."

The Annual Report 2020 is to be published on 10 May 2021 on the website www.noratis.de in the Investor Relations section.

About Noratis:

Noratis AG (www.noratis.de) is a leading portfolio developer of residential properties in Germany. The company identifies and realizes potentials for tenants, owner-occupiers & investors, thereby creating and preserving attractive and at the same time affordable living space throughout Germany. Noratis specializes in the upgrading of ageing residential portfolios, mostly company-owned apartments, residential areas or housing estates in cities with more than 10,000 inhabitants and in peripheral areas of conurbations. After a successful development, the properties remain in the company's portfolio or are sold in the medium term to investors and/or individually to existing tenants, capital investors and owner-occupiers. In this way, Noratis creates a noticeable and sustainable added value for all stakeholders: from investors, employees and financing partners to current and future tenants. Noratis AG is listed on the Frankfurt Stock Exchange.

Investor & Public Relations Contact:

edicto GmbH
Dr. Sönke Knop
T +49 (0)69 905 505 51
E [email protected]
Eschersheimer Landstraße 42
60322 Frankfurt am Main

28.04.2021 Dissemination of a Corporate News, 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.
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Language: English
Company: Noratis AG
Hauptstraße 129
65760 Eschborn
Phone: +49 (0) 69 / 170 77 68 20
E-mail: [email protected]
Internet: www.noratis.de
Indices: Scale 30
Listed: Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Scale), Hamburg, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 1188635

End of News DGAP News Service

1188635  28.04.2021 


Die wichtigsten Finanzdaten auf einen Blick
  2017 2018 2019 2020 2021 2022 2023e
Umsatzerlöse1 67,99 56,12 75,95 28,70 73,60 85,61 87,00
EBITDA1,2 15,32 15,72 15,95 8,63 16,29 12,98 11,50
EBITDA-Marge3 22,53 28,01 21,00 30,07 22,13 15,16
EBIT1,4 15,22 15,55 15,76 8,21 19,36 12,50 11,00
EBIT-Marge5 22,39 27,71 20,75 28,61 26,30 14,60 12,64
Jahresüberschuss1 8,67 9,27 8,67 2,80 9,54 8,28 -3,40
Netto-Marge6 12,75 16,52 11,42 9,76 12,96 9,67 -3,91
Cashflow1,7 12,86 -0,09 -18,36 -94,05 -70,10 -33,03 0,00
Ergebnis je Aktie8 2,97 2,57 2,40 0,58 1,97 1,71 -0,70
Dividende8 1,50 1,30 0,80 0,50 0,55 0,00 0,33
Quelle: boersengefluester.de und Firmenangaben

  Geschäftsbericht 2022 - Kostenfrei herunterladen.  
1 in Mio. Euro; 2 EBITDA = Ergebnis vor Zinsen, Steuern und Abschreibungen; 3 EBITDA in Relation zum Umsatz; 4 EBIT = Ergebnis vor Zinsen und Steuern; 5 EBIT in Relation zum Umsatz; 6 Jahresüberschuss (-fehlbetrag) in Relation zum Umsatz; 7 Cashflow aus der gewöhnlichen Geschäftstätigkeit; 8 in Euro; Quelle: boersengefluester.de

Wirtschaftsprüfer: RGT Treuhand

WKN Kurs in € Einschätzung Börsenwert in Mio. €
A2E4MK 6,150 Halten 41,48
KGV 2025e KGV 10Y-Ø BGFL-Ratio Shiller-KGV
13,37 12,85 1,04 4,72
0,48 - 0,48 33,07
Dividende '22 in € Dividende '23e in € Div.-Rendite '23e
in %
0,00 0,00 0,00 09.07.2024
Q1-Zahlen Q2-Zahlen Q3-Zahlen Bilanz-PK
29.09.2023 31.05.2023
Abstand 60Tage-Linie Abstand 200Tage-Linie Performance YtD Performance 52 Wochen
-5,69% -18,08% -5,38% -53,76%
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