EQS-News: Business development in the first quarter of 2023 in line with expectations
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EQS-News: Accentro Real Estate AG
/ Key word(s): Quarterly / Interim Statement/Real Estate
Business development in the first quarter of 2023 in line with expectations
31.05.2023 / 08:30 CET/CEST
The issuer is solely responsible for the content of this announcement.
Business development in the first quarter of 2023 in line with expectations
- Difficult market environment affects business development - investment volume and demand for residential real estate loans slumped massively
- 2023 forecast confirmed; in the medium to long term, the real estate market continues to offer attractive opportunities
Berlin, 31 May 2023 - The persistently difficult market environment in the real estate industry significantly impacted the business performance of ACCENTRO Real Estate AG ("ACCENTRO"), residential investor and Germany's leading housing privatisation company, in the first quarter of 2023.
According to an analysis by Savills, residential property was traded for around EUR 1.2 billion in the first quarter. This means that the quarterly volume fell to a value last seen at the beginning of the crisis year 2011. The demand for residential real estate loans at the institutions that are members of the Association of German Pfandbrief Banks (vdp) also shows the great reluctance of customers. At EUR 16.3 billion, the value in the first quarter of 2023 was another 4.2% below the already very low lending volume of the fourth quarter of 2022 and a significant 49.2% below the same period of the previous year.
The sharp decline in demand is reflected in the notarised sales volume in the first quarter. It comprised 12 units with a total sales value of EUR 7.0 million. Consolidated revenues in the first three months of the year were EUR 20.8 million (previous year: EUR 33.7 million) and consolidated earnings before interest and taxes (EBIT) amounted to EUR -4.7 million (previous year: EUR 3.6 million). Also due to the increase in interest expenses caused by the refinancing of the two bonds, the consolidated total income fell to EUR -11.4 million (previous year: EUR -1.5 million). Accordingly, earnings per share amounted to EUR -0.34 (previous year: EUR -0.05). The equity ratio rose to 29.1% as of 31 March 2023 (as of 31 December 2022: 28.2%).
The development of the trade and privatisation segment is in line with our expectations. Revenues from the sale of flats amounted to EUR 16.2 million (previous year: EUR 29.3 million). The decline is due in particular to the significant slump in housing demand and the resulting extremely low sales volume in the second half of 2022.
In contrast, rental income developed positively. Due to the further expansion of our portfolio last year and rent increases, revenues rose by 12.5% to EUR 4.5 million (previous year: EUR 4.0 million).
Even though the market environment remained difficult in the first months of the year and further developments are currently difficult to assess, ACCENTRO confirms the forecast for the 2023 financial year that was first given at the end of April with the publication of the 2022 Annual Report. We expect consolidated revenues of between EUR 100 and 120 million and consolidated earnings before interest and taxes (EBIT) of between EUR 0 and 2 million.
Lars Schriewer, CEO of ACCENTRO Real Estate AG, comments: "The business development in the first quarter of 2023 is in line with our expectations. The general conditions remain difficult, and investors continue to be cautious. The medium to long-term prospects for our industry and ACCENTRO remain good. Now, however, the most important thing is for all players, including politicians, to find new ways and set the right priorities so that we emerge from this crisis stronger and sufficient housing remains affordable for all.”
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About ACCENTRO Real Estate AG
ACCENTRO Real Estate AG is a residential investor and market leader in housing privatisation in Germany. As of 31 March 2023, the real estate portfolio comprised around 180 multi-family houses and 5,834 flats with an area of approximately 340,000 square metres. The book value of the entire portfolio was around EUR 600 million. In addition to Berlin, the regional focus includes major central German cities and conurbations as well as the Rhine-Ruhr metropolitan region. ACCENTRO's business activities comprise three core areas. These include the tenant-oriented sale of flats to private owner-occupiers and capital investors as well as the sale of real estate portfolios to institutional investors, the management of its own real estate portfolio and services for third parties. The shares of ACCENTRO Real Estate AG are listed in the Prime Standard segment of the Frankfurt Stock Exchange (WKN: A0KFKB, ISIN: DE000A0KFKB3). www.accentro.de
Contact for investor relations:
Thomas Eisenlohr
ACCENTRO Real Estate AG
Kantstraße 44/45
10625 Berlin
E-Mail: [email protected]
Tel. +49 (0)30 88 71 81 272
Contact person for press and public relations:
Ulrich Porwollik
Ulrich Porwollik Communications GmbH
Kückallee 35
21465 Reinbek
E-mail: [email protected]
Phone +49 (0)171 2239876
31.05.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com
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| Language: |
English |
| Company: |
Accentro Real Estate AG |
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Kantstr. 44/45 |
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10625 Berlin |
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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: |
1645283 |
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| End of News |
EQS News Service |
1645283 31.05.2023 CET/CEST
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Die wichtigsten Finanzdaten auf einen Blick
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| |
2017 |
2018 |
2019 |
2020 |
2021 |
2022 |
2023e |
| Umsatzerlöse1 |
159,30 |
205,61 |
143,27 |
125,18 |
192,75 |
165,23 |
112,00 |
| EBITDA1,2 |
36,53 |
33,21 |
40,54 |
35,63 |
46,60 |
11,26 |
4,70 |
| EBITDA-Marge3 |
22,93 |
16,15 |
28,30 |
28,46 |
24,18 |
6,81 |
|
| EBIT1,4 |
36,42 |
32,86 |
39,80 |
34,77 |
45,16 |
8,54 |
1,70 |
| EBIT-Marge5 |
22,86 |
15,98 |
27,78 |
27,78 |
23,43 |
5,17 |
1,52 |
| Jahresüberschuss1 |
20,12 |
18,30 |
26,30 |
18,06 |
13,13 |
-14,24 |
-20,00 |
| Netto-Marge6 |
12,63 |
8,90 |
18,36 |
14,43 |
6,81 |
-8,62 |
-17,86 |
| Cashflow1,7 |
-25,20 |
-48,43 |
-75,67 |
-32,66 |
99,55 |
67,55 |
0,00 |
| Ergebnis je Aktie8 |
0,81 |
0,56 |
0,81 |
0,51 |
0,37 |
-0,45 |
-1,60 |
| Dividende8 |
0,17 |
0,16 |
0,00 |
0,00 |
0,04 |
0,00 |
0,15 |
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: Grant Thornton
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| INVESTOR-INFORMATIONEN |
| ©boersengefluester.de |
| Accentro Real Estate |
| WKN |
Kurs in € |
Einschätzung |
Börsenwert in Mio. € |
| A0KFKB |
0,422 |
- |
13,69 |
| KGV 2025e |
KGV 10Y-Ø |
BGFL-Ratio |
Shiller-KGV |
| 10,55 |
12,12 |
0,87 |
1,53 |
| KBV |
KCV |
KUV |
EV/EBITDA |
| 0,06 |
0,20 |
0,08 |
41,71 |
| Dividende '22 in € |
Dividende '23e in € |
Div.-Rendite '23e
in % |
Hauptversammlung |
| 0,00 |
0,00 |
0,00 |
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| Q1-Zahlen |
Q2-Zahlen |
Q3-Zahlen |
Bilanz-PK |
| 31.05.2024 |
30.08.2024 |
30.11.2023 |
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| Abstand 60Tage-Linie |
Abstand 200Tage-Linie |
Performance YtD |
Performance 52 Wochen |
| -47,12% |
-65,49% |
-60,93% |
-72,95% |
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Accentro Real Estate AG DE000A0KFKB3