EQS-Ad-hoc: TTL Beteiligungs- und Grundbesitz-AG / Key word(s): Change in Forecast
TTL Beteiligungs- und Grundbesitz-AG: TTL group adjusts forecast for 2022
19-Dec-2022 / 08:45 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS Group AG.
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Publication of inside information pursuant to article 17 of regulation (EU) no. 596/2014
Munich, 19. December 2022
TTL group adjusts forecast for 2022
TTL Beteiligungs- und Grundbesitz-AG ("TTL", "TTL AG") (ISIN DE0007501009) today adjusted its forecast for the financial year 2022.
Reason for this are significantly changed conditions in the investment market for commercial real estate, which lead to strongly reduced transaction activities. This is due in particular to the considerable rise in interest rates, ongoing high inflation and the uncertainty regarding a recession in Germany.
As a result of this market situation, some larger transactions planned for the fourth quarter of 2022 by Montano Real Estate GmbH, a 50 % holding of TTL, will no longer be realised this year.
Due to the lower income from investments, TTL therefore now expects a negative consolidated pre-tax result (according to IFRS) of around EUR 0.5 to 0.7 million for the 2022 financial year (previously EUR +2.5 to +3.0 million).
For TTL AG, a positive operating result for the year (EBTDA according to HGB) is expected.
Notifying person
Theo Reichert
CEO
Phone: +49 89 381611-0
E-mail: [email protected]
Media and Investor Relations contact
Annette Kohler-Kruse
Instinctif Partners
Phone +49 89 3090 5189-21
[email protected]
[email protected]
19-Dec-2022 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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TTL Beteiligungs- und Grundbesitz-AG DE0007501009