ADLER Real Estate AG
ADLER Real Estate AG: Package of measures to sustainably boost earnings strength
DGAP-News: ADLER Real Estate AG / Key word(s): Miscellaneous Corporate News ADLER Real Estate AG: Package of measures to sustainably boost earnings strength – Relocation of corporate headquarters to Berlin – Cutting costs with numerous individual measures – Refocusing real estate portfolio and asset management – Expanding group-internal property management Hamburg, 9 June 2016. ADLER Real Estate AG will be led by a new Management Board as of 9 June, the date of this year’s Annual General Meeting. As announced in March already, the term in office of the longstanding Management Board member Axel Harloff expired upon the conclusion of the Annual General Meeting. The CEO function will be assumed by Arndt Krienen, who was appointed to the Management Board of ADLER Real Estate AG in January 2016 already having previously sat on the Management Board of WESTGRUND AG, a company acquired in mid-2015. Sven-Christian Frank, previously Director of Asset Management at ADLER, has been newly appointed to the Management Board as of 9 June 2016. At today’s Annual General Meeting, shareholders of ADLER Real Estate AG were informed about an extensive package of operating and structural measures with which the company aims to sustainably boost its earnings strength. As stressed by Arndt Krienen, the recent years of rapid growth are due to be followed by a year of consolidation in 2016. “If you have grown by making acquisitions, as we have, then you also have to make sure you see to the integration. That will be our key focus in the current year. We intend to organise and optimise our portfolio of residential units, standardise and centralise our company structure, restructure our property management, and focus more closely on costs than was possible in the period when growth was our top priority.” Corporate headquarters relocated to Berlin
Refocusing property portfolio and asset management Expanding group-internal property management ADLER Real Estate AG: ADLER Real Estate AG, headquartered in Frankfurt and with its administrative headquarters in Hamburg, focuses on the acquisition, management and administration of residential property privatisation. ADLER invests primarily in portfolios with residential property companies in B-locations of major conurbations with units that achieve a positive cash flow and can demonstrate a sustained appreciation potential. The ADLER subsidiary, ACCENTRO Real Estate AG, is one of the largest privatisers of residential property in Germany. ACCENTRO markets suitably targeted residential property from the holdings of the ADLER Group and procures condominiums for third party owner-occupiers and investors seeking to provide for their retirement. In addition, ADLER holds a 23.5 percent stake (31 December 2015) in conwert Immobilien Invest SE, Vienna, one of the leading real estate companies in Austria. conwert holds more than 82 per percent of its property portfolio in Germany, many of them in A-cities. With nearly 50,000 residential units, ADLER is among the top five largest German residential property companies listed in Germany. In addition to the listing on the FTSE EPRA / NAREIT Global Real Estate Index in London and the GRP General Index, shares in ADLER are also listed in the small cap index SDAX of the Deutsche Börse. Contact for enquiries: Dr. Rolf-Dieter Grass
2016-06-09 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG. |
Language: | English | |
Company: | ADLER Real Estate AG | |
Herriotstr. 5 | ||
60528 Frankfurt am Main | ||
Germany | ||
Phone: | +49 (0)40 – 29 8130-0 | |
Fax: | +49 (0)40 – 29 8130-99 | |
E-mail: | info@adler-ag.com | |
Internet: | www.adler-ag.com | |
ISIN: | DE0005008007, XS1211417362, DE000A1R1A42, DE000A11QF02 | |
WKN: | 500800, A14J3Z, A1R1A4, A11QF0 | |
Indices: | SDAX, GPR General Index | |
Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg | |
End of News | DGAP News Service |