03.09.2021 Coreo AG  DE000A0B9VV6

DGAP-News: Coreo announces consolidated half-year report (IFRS)


DGAP-News: Coreo AG / Key word(s): Half Year Report/Real Estate
Coreo announces consolidated half-year report (IFRS)

03.09.2021 / 12:50
The issuer is solely responsible for the content of this announcement.

Coreo announces consolidated half-year report (IFRS)

  • Net rental income increased by 25% to TEUR 1,934 (previous year TEUR 1,546)
  • EBIT TEUR 496 (previous year TEUR -100)
  • Corona pandemic without noteworthy consequences
  • Positive perspective

Frankfurt am Main, 3. September 2021 - The Coreo (ISIN: DE000A0B9VV6) was able to increase rental income again. The value increased by 25% from TEUR 1,546 to TEUR 1,934 compared to the same period of the previous year. Besides the successful rentals in the Hydra portfolio, the residential units acquired in the German state of North Rhine-Westphalia in the course of the first half of 2020 contributed to this for the entire reporting period. At the same time, there were no significant rental losses as a result of the Corona pandemic.
The result from the sale of real estate, at TEUR 310, is slightly below the previous year's figure of TEUR 492. Regarding the valuation result of TEUR 781 (previous year: EUR 0), however, it must be considered that this is made up of write-ups on sold properties for which the closing had not yet taken place as of the reporting date. For cost reasons, a revaluation of the investment property portfolio during the year was not carried out, as in previous years.
On the one hand, materials costs increased as expected by 59% to TEUR 1,390 (previous year TEUR 875) due to the higher rental volume and investments in real estate holdings, while personnel costs rose by +4% (TEUR 512 compared to TEUR 492 in the previous year) and other operating expenses by -6% (TEUR 737 compared to TEUR 780 in the previous year). The Group reported a significantly improved EBIT of TEUR 496 for the first half of the year compared to the previous year (TEUR -100) due to the higher level of revenues and earnings.
Financial expenses remained almost unchanged at TEUR 1,136 (previous year TEUR 1,119) despite the increase in financial liabilities by TEUR 10,548 to TEUR 62,167. This is due to the more cost-effective refinancing of the warrant bond with a 10% coupon, which was prematurely redeemed at the end of 2020.
As a consequence of the increased income tax component of TEUR 580, the result for the period of TEUR -809 was slightly below the corresponding value of the previous year of TEUR -737. It amounted to EUR -0.05 per share (previous year EUR -0.04).
The balance sheet total grew by TEUR 8,439 to TEUR 93,002 compared to 31 December 2020, largely due to additional loans taken out. In the meantime, the cash, and cash equivalents of TEUR 10,875 available to the Group at the end of June have been used to a large extent for the acquisitions made in July.
The Managing Board anticipates that it will be able to continue to increase the already very high acquisition volume of over EUR 60 million in the current year. Rental income is expected to increase by EUR 1 million compared to 2020 to EUR 4.5 million, an increase of more than 25%.

The complete 2021 half-year report will soon be available for download on the company's website.

About Coreo AG
Coreo AG, with headquarters in Frankfurt am Main, is a portfolio developer with a focus on German commercial and residential real estate. The real estate portfolio of existing and development properties forms the cornerstone of the company's three pillars of income: income from letting, sales and valuation. Investments are made in real estate with considerable potential for value appreciation with existing development needs, preferably in medium-sized centres and with a volume of EUR 5-20 million, as part of the value-creating growth strategy (sweet spot). The objective is to create an efficiently managed, high-yield real estate portfolio with a volume of EUR 400 - 500 million over the next few years by means of prudent development and the sale of non-strategic objects.


Coreo AG
Andrea Glaab
Investor Relations
Grüneburgweg 18
D-60322 Frankfurt a. M.
[email protected]
T: +49 (0) 69-21 93 96-0

03.09.2021 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.

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Language: English
Company: Coreo AG
Grüneburgweg 18
60322 Frankfurt am Main
Phone: +49 69 2193 96-0
Fax: +49 69 2193 96-150
E-mail: [email protected]
Internet: www.coreo.de
Listed: Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Basic Board), Hamburg, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 1230971

End of News DGAP News Service

1230971  03.09.2021 


Die wichtigsten Finanzdaten auf einen Blick
  2015 2016 2017 2018 2019 2020 2021e
Umsatzerlöse1 0,00 0,00 0,48 8,89 5,90 9,61 0,00
EBITDA1,2 -0,49 -2,47 3,25 4,91 2,52 -0,01 0,00
EBITDA-Marge3 0,00 0,00 677,08 55,23 42,71 -0,10 0,00
EBIT1,4 -3,80 -7,26 3,24 4,90 2,50 -0,69 0,00
EBIT-Marge5 0,00 0,00 675,00 55,12 42,37 -7,18 0,00
Jahresüberschuss1 -5,55 -7,27 3,08 1,66 -0,86 -2,44 0,00
Netto-Marge6 0,00 0,00 641,67 18,67 -14,58 -25,39 0,00
Cashflow1,7 -5,40 -2,47 -0,79 -11,30 -5,25 -13,80 0,00
Ergebnis je Aktie8 -0,89 -0,78 0,19 0,10 -0,05 -0,14 0,09
Dividende8 0,00 0,00 0,00 0,00 0,00 0,00 0,00
Quelle: boersengefluester.de und Firmenangaben

  Geschäftsbericht 2020 - 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: Votum

WKN Kurs in € Einschätzung Börsenwert in Mio. €
A0B9VV 1,240 Halten 21,75
KGV 2022e KGV 10Y-Ø BGFL-Ratio Shiller-KGV
8,86 13,99 0,65 -5,54
0,82 - 2,26 8.761,65
Dividende '20 in € Dividende '21e in € Div.-Rendite '21e
in %
0,00 0,00 0,00 14.09.2021
Q1-Zahlen Q2-Zahlen Q3-Zahlen Bilanz-PK
30.10.2021 30.04.2021
Abstand 60Tage-Linie Abstand 200Tage-Linie Performance YtD Performance 52 Wochen
-8,89% -13,29% -28,32% -12,06%
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Immobilien (Gewerbe) , A0B9VV , CORE , XETR:NNS