EQS-Adhoc: ACCENTRO Real Estate AG unable to meet forecast for financial year 2023

ACCENTRO Real Estate AG unable to meet forecast for financial year 2023

Berlin, 29 August 2023 ACCENTRO Real Estate AG ("ACCENTRO" or "Company") announces that the forecast for the 2023 financial year set out in the 2022 Annual Report cannot be met.

Based on the consolidation of the business figures in the course of the preparation of the half-year report, it is apparent that the forecasted consolidated revenues (EUR 100 to 120 million) for the 2023 financial year cannot be achieved. This has a corresponding impact on consolidated EBIT, which will also remain below the forecast (EUR 0 to 2 million).

This is due to the still extremely tense market situation and the continuing weak demand on the housing market. Based on current information, in particular sales figures from the privatization business fell significantly short of the company's expectations in the first half of 2023. Consolidated revenues in the first six months of the financial year totaled only EUR 36.1 million, a decrease of EUR 57.4 million on the previous year (comparative period: EUR 93.5 million). Consolidated EBIT totaled EUR -9.4 million in the reporting period, down EUR 18.4 million on the previous year (comparative period: EUR 9.0 million).

With regard to the business development in 2023, the Management Board does not expect that the forecasted consolidated revenues can still be achieved and that the negative consolidated EBIT of the first half of the year can be compensated. Due to the unpredictable business environment, it is currently not possible for the Management Board to provide a well-founded and reliable forecast scope for the current financial year. The forecast is therefore temporarily suspended. For the financial year 2023, a significant reduction in consolidated revenues and consolidated EBIT compared to the previous forecast must be expected. 

The half-year report for the year 2023 will be published as scheduled on 31 August 2023.

Notifying person:

Thomas Eisenlohr, Head of Investor Relations
Tel.: +49 (0)30 887181272
eisenlohr@accentro.de

Berlin, 29 August 2023

The Management Board
ACCENTRO Real Estate AG
Kantstraße 44/45
D-10625 Berlin

ISIN: DE000A0KFKB3 / DE000A3H3D51 / DE000A254YS5

Stock exchange: Frankfurter Stock Exchange, regulated market (Prime Standard) / Luxembourg Stock Exchange