30.11.2021 Accentro Real Estate AG  DE000A0KFKB3

DGAP-News: ACCENTRO Makes Significant Jump in Earnings


 

DGAP-News: Accentro Real Estate AG / Key word(s): Real Estate/9 Month figures
ACCENTRO Makes Significant Jump in Earnings

30.11.2021 / 07:30
The issuer is solely responsible for the content of this announcement.


ACCENTRO Makes Significant Jump in Earnings

- Revenues increase by 92.0 % to EUR 125.4 million during first nine months of 2021
(previous year: EUR 65.3 million)

- EBIT multiply, climbing to EUR 31.0 million (previous year: EUR 5.6 million)

- Consolidated earnings improve significantly to EUR 9.6 million
(previous year: EUR -11.8 million)

- Earnings per share climb to EUR 0.30 (previous year: EUR -0.36)

- Net asset value (NAV) per share rises to around EUR 13

- Forecast confirmed for significant revenue and earnings growth in 2021

 

Berlin, 30 November 2021 - ACCENTRO Real Estate AG, an investor in residential real estate and Germany's leading housing privatisation company, continues to grow dynamically and looks back on a very successful nine-month period.

Lars Schriewer, CEO of ACCENTRO Real Estate AG, is satisfied: "We continued the strong business development we have been seeing since the start of this year with a very successful third quarter. Compared to the same period last year, revenues during the first nine months almost doubled. Our EBIT increased many times over. The main driver behind this performance was the dynamic trend in our housing privatisation business. Given the strong business performance, we confirm the forecast for 2021, and see great potential for long-term growth."

Group earnings substantially increased

Group revenues rose by 92.0 % to EUR 125.4 million (previous year: EUR 65.3 million). Even more dynamic was the performance of group earnings before interest and taxes (EBIT): These climbed up to EUR 31.0 million (previous year: EUR 5.6 million). Accordingly, group earnings after taxes (EAT) increased to EUR 9.6 million (previous year: EUR -11.8 million) and earnings per share increased to EUR 0.30 (previous year: EUR -0.36).

Fair value adjustments of investment properties - meaning real estate that ACCENTRO holds in its portfolio for the longer term - had a positive impact on EBIT with EUR 16.3 million (previous year: EUR 2.0 million). It clearly demonstrates the quality and the capital appreciation potential of our real estate.

Total assets increased to EUR 958 million (31 December 2020: EUR 862 million), which is primarily attributable to the further expansion of the proprietary stock of rental flats. As a result, rental income surged by 86.6 % to EUR 15.3 million (previous year: EUR 8.2 million). This prompted a rise in net asset value (NAV) per share to around EUR 13.

ACCENTRO repeated its strong performance in the privatisation of residential real estate, seamlessly maintaining the dynamic growth of the previous quarters in the third quarter. The company sold 614 units to tenants, owner-occupiers and private investors - an increase by 132.6 % over prior-year period (previous year: 264 units). The volume of notarised property sales totalled EUR 188.6 million and also exceeded the prior-year figure by a significant 155.2 % (previous year: EUR 73.9 million). Revenues almost doubled during the first nine months, growing by 94.6 % to EUR 108.4 million (previous year: EUR 55.7 million). The volume of notarised property sales whose transfer of benefits and burdens was still pending by the balance sheet date of 30 September 2021 amounted to EUR 96.4 million.

Outlook confirmed

Given the successful business development during the first nine months, ACCENTRO confirms its forecast for this year. Accordingly, revenues will grow by up to around 60 % to somewhere between EUR 170 and 200 million (previous year: EUR 125.2 million) and EBIT by up to around 44 % to somewhere between EUR 45 and 50 million (previous year: EUR 34.8 million). All of the company's business units will contribute to the positive earnings performance. During the fourth quarter, further income from fair value adjustments of investment properties will be significantly complemented by earnings both from individual apartment sales and from block sales.

Lars Schriewer takes an optimistic view of the future: "ACCENTRO is superbly positioned in all of its business units. The company has a very well-filled privatisation pipeline of residential properties already legally partitioned into condominiums. In addition, our proprietary rental portfolio, which we keep expanding in a dynamic effort, offers plenty of appreciation and rental potential. Moreover, we have laid the foundation for significant growth in our service business, i.e. real estate sales for third parties such as project developers, by entering into an exclusive sales cooperation for residential properties with ImmoScout24 just a few weeks ago. In addition to the privatisation of existing properties, which has been successful for decades, ACCENTRO is thus increasingly entering into the sale of new-build flats."


About ACCENTRO Real Estate AG

ACCENTRO Real Estate AG is a residential property investor and Germany's market leader in housing privatisations. Its real estate portfolio consisted of around 5,200 units as of 31 December 2020. In addition to Berlin, regional focal points include East German cities and conurbations, as well as the Rhine-Ruhr metro region and Bavaria. The business activity of ACCENTRO comprises four core divisions. These are the tenant-sensitive retailing of apartments to owner-occupiers and private buy-to-let investors, the sale of real estate portfolios to institutional investors, the set-up and management of a proprietary real estate portfolio, and third-party apartment marketing for property asset holders, investors and developers. The shares of ACCENTRO Real Estate AG are listed on the Prime Standard segment of the Frankfurt Stock Exchange (German securities code number WKN: A0KFKB, ISIN: DE000A0KFKB3). www.accentro.de

 

Investor Relations Contact:

Thomas Eisenlohr
ACCENTRO Real Estate AG
Kantstrasse 44/45
D-10625 Berlin
E-mail: [email protected]
Tel. +49 (0)30 - 88 71 81 272


Press and Public Relations Contact:

Christian Dose
WMP EuroCom AG
Barckhausstrasse 1
D-60325 Frankfurt
E-mail: [email protected]
Tel. +49 (0)69 2475689491
Mobile: +49 (0)173 6679900



30.11.2021 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: Accentro Real Estate AG
Kantstr. 44/45
10625 Berlin
Germany
Phone: +49 (0)30 - 887 181 - 0
Fax: +49 (0)30 - 887 181 - 11
E-mail: [email protected]
Internet: www.accentro.ag
ISIN: DE000A0KFKB3
WKN: A0KFKB
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 1252722

 
End of News DGAP News Service

1252722  30.11.2021 

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Die wichtigsten Finanzdaten auf einen Blick
  2016 2017 2018 2019 2020 2021 2022e
Umsatzerlöse1 125,11 159,30 205,61 143,27 125,18 192,00 0,00
EBITDA1,2 34,05 36,53 33,21 40,54 35,63 49,50 0,00
EBITDA-Marge3 27,22 22,93 16,15 28,30 28,46 25,78 0,00
EBIT1,4 33,94 36,42 32,86 39,80 34,77 48,50 0,00
EBIT-Marge5 27,13 22,86 15,98 27,78 27,78 25,26 0,00
Jahresüberschuss1 26,47 20,12 18,30 26,30 18,06 24,50 0,00
Netto-Marge6 21,16 12,63 8,90 18,36 14,43 12,76 0,00
Cashflow1,7 21,72 -25,20 -48,43 -75,67 -32,66 0,00 0,00
Ergebnis je Aktie8 0,90 0,81 0,56 0,81 0,51 0,80 0,65
Dividende8 0,15 0,17 0,16 0,00 0,00 0,20 0,20
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: Ebner Stolz

XETR:A4Y Charts by TradingView (c)


INVESTOR-INFORMATIONEN
©boersengefluester.de
Accentro Real Estate
WKN Kurs in € Einschätzung Börsenwert in Mio. €
A0KFKB 6,650 Halten 215,71
KGV 2023e KGV 10Y-Ø BGFL-Ratio Shiller-KGV
8,75 10,39 0,84 12,57
KBV KCV KUV EV/EBITDA
0,91 - 1,72 20,34
Dividende '20 in € Dividende '21e in € Div.-Rendite '21e
in %
Hauptversammlung
0,00 0,20 3,01 22.06.2022
Q1-Zahlen Q2-Zahlen Q3-Zahlen Bilanz-PK
31.05.2022 10.08.2021 09.11.2021 28.04.2022
Abstand 60Tage-Linie Abstand 200Tage-Linie Performance YtD Performance 52 Wochen
-0,70% -10,30% 0,76% -21,30%
    
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