Corestate Capital Holding S.A.

  • WKN: A141J3
  • ISIN: LU1296758029
  • Land: Großherzogtum Luxemburg

Nachricht vom 30.03.2022 | 16:04

Corestate Capital Holding S.A.: Postponement of publication of the audited consolidated financial statements 2021 due to ongoing audit procedure

Corestate Capital Holding S.A. / Key word(s): Annual Report
Corestate Capital Holding S.A.: Postponement of publication of the audited consolidated financial statements 2021 due to ongoing audit procedure

30-March-2022 / 16:04 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.


Postponement of publication of the audited consolidated financial statements 2021 due to ongoing audit procedure

Luxembourg, 30 March 2022 - Corestate Capital Holding S.A. (Corestate) has been informed by its auditor Ernst & Young (E&Y) that the ongoing audit procedures will not be fully completed by 31 March 2022 as expected.

A major reason for the delay is an extension of the audit procedures regarding a renewed impairment test of the goodwill-bearing cash-generating units (CGUs) in the Real Estate Debt segment. At Helvetic Financial Services (HFS), wider ranges of the prospective development of fund volumes have arisen in the short term regarding the goodwill recognized at € 520.1 million as at 30 September 2021. The company expects an adjustment of the existing goodwill of HFS as at the balance sheet date 31 December 2021, whereby the amount of the adjustment cannot be quantified finally at this time.

In the event of an impairment, this would be adjusted in the financial reporting at the level of depreciation and amortization. Accordingly, the KPIs reported by Corestate at the beginning of March for aggregated revenue, adjusted EBITDA and adjusted net profit for the financial year 2021 remained unchanged.

From today's view, the company expects to publish its audited financial statements for 2021 by mid-April, but no later than 30 April 2022.

Notifying person:

Dr. Kai Gregor Klinger
Chief Markets Officer
T: +49 69 3535630107
M: +49 152 22755400
ir@corestate-capital.com


30-March-2022 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de



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