Corestate Capital Holding S.A.

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

Nachricht vom 14.05.2019 | 06:55

CORESTATE reports promising first quarter 2019 - full-year outlook confirmed

DGAP-News: Corestate Capital Holding S.A. / Key word(s): Quarter Results/Quarterly / Interim Statement

14.05.2019 / 06:55
The issuer is solely responsible for the content of this announcement.


CORESTATE reports promising first quarter 2019 - full-year outlook confirmed

- Decent operating performance across the entire Group

- Aggregated revenues and gains of EUR58.6 million, EBITDA of EUR38.7 million, adjusted net profit of EUR26.3 million

- HFS with one of the most successful quarters in the company's history

- Strong organic growth of real estate assets under management of around 4 percent

- Accelerated implementation of the ESG strategy

Frankfurt, 14 May 2019 - CORESTATE Capital Holding S.A. (CORESTATE), a leading European real estate investment manager, today announced its figures for the first quarter, showing a very convincing start to 2019. Assets under management reached EUR26 billion for the first time; real estate assets under Management rose organically by around 4 percent.

In the first three months of 2019, the company generated adjusted revenues and gains of EUR58.6 million (Q1/2018: EUR61.9 million), an EBITDA of EUR38.7 million (Q1/2018: EUR38.8 million) and an adjusted net profit of EUR26.3 million (Q1/2018: EUR34.7 million). Net profit amounted to EUR21 million (Q1/2018: EUR28.5 million).

"Our operating business shows fundamental strength at all levels. In addition to our existing business, we are currently preparing a number of new placements at the markets, such as several Micro Living products, the expansion of our private debt offering and regional residential real estate funds in booming German metropolitan areas," commented Lars Schnidrig, CEO CORESTATE.

The CORESTATE subsidiary Helvetic Financial Services (HFS), the leading provider of mezzanine capital in real estate development in Germany, recorded one of the most successful quarters since the company was founded and exceeded the EUR1.25 billion fund volume mark for the first time at the end of March 2019. Since its acquisition by CORESTATE, HFS has made a substantial contribution to the Group's sales. With its investment focus on residential real estate in major German cities, HFS is ideally positioned to benefit from the sustained excess demand in order to continue the growth with stable margins achieved to date.

In the first quarter of 2019, CORESTATE again placed particular emphasis on accelerating the implementation of its ESG strategy. Large foreign customers in particular expect transparency and sustainability - here the Group has a clear competitive advantage due to its size and institutionalized processes, which CORESTATE will exploit in the coming years.

Lars Schnidrig: "Thanks to the market, we were able to invest our capital in the first quarter efficiently in products to be placed for the benefit of our stakeholders. Our capital strength allows us to make effective use of market opportunities. In addition, we have sufficient financial scope for further external growth with which we can develop new customers, new products or new regions."

In view of this solid development, the company is confirming its financial outlook for the full year 2019: CORESTATE expects aggregated revenues and gains of between EUR285 million and EUR295 million, an EBITDA of between EUR165 million and EUR175 million and an adjusted net profit of between EUR130 million and EUR140 million.


IR Contact
Dr. Kai Gregor Klinger
T: +49 69 3535630107 / M: +49 152 22755400
ir@corestate-capital.com

 

PR Contact
Jorge Person
T: +49 69 3535630-136 / M: +49 162 2632369
jorge.person@corestate-capital.com


About CORESTATE Capital Holding S.A.
CORESTATE Capital Holding S.A. (CORESTATE) is an investment manager and co-investor with approximately EUR26 billion in assets under management. As a fully integrated real estate platform, CORESTATE offers its clients combined expertise in the areas of investment and fund management as well as real estate management services. The company operates as a respected business partner of institutional clients and wealthy private investors internationally. CORESTATE is headquartered in Luxembourg and has 42 offices, e.g. in Frankfurt, London, Madrid, Singapore and Zurich. The company employs around 700 people and is listed in the Prime Standard (SDAX) of the Frankfurt Stock Exchange. Further information may be found at www.corestate-capital.com.

Forward-looking statements
This press release may contain forward-looking statements based on current assumptions and forecasts made by our management. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of our company and the estimates given here. These factors include those discussed in our public reports, which are available on our website at ir.corestate-capital.com. The company assumes no liability whatsoever to update these forward-looking statements or to conform them to future events or developments. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof.



14.05.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de



show this

Interview im Fokus

HanseYachts: „Der ideale Zeitpunkt für den Kauf“

Die Übernahme des Katamaran-Herstellers Privilège bringt die HanseYachts AG dem Umsatzziel von 200 Mio. Euro einen bedeutenden Schritt näher. „Der Katamaran-Markt ist das derzeit am stärksten wachsende Segment im Yacht-Geschäft. Privilège ist weltweit in Preis und Qualität die Nummer eins“, so CEO Dr. Jens Gerhardt. Zudem sei der Deal ein wichtiger Faktor, um die EBITDA-Marge auf 10 bis 12 % zu steigern. Im Financial.de-Interview spricht der Konzernlenker über die aktuellsten Trends im Yacht-Geschäft, die laufende Barkapitalerhöhung sowie die Weltpremieren in Cannes.

GBC-Fokusbox

Fonds Research 2019: S.E.A. Asian High Yield Bond bietet attraktive Investitionschance

Auch 2019 hat die GBC AG unter der Vielzahl an Publikumsfonds neun „Fonds Champions“ herausgefiltert. Darunter auch den S.E.A. Asian High Yield Bond (ISIN: LU1138637738), der eine gute Anlagechance anbietet mit einer Strategie, die kaum reproduzierbar ist. Insbesondere vor dem Hintergrund des anhaltenden Niedrigzinsniveaus sehen wir den Anleihefonds als äußerst attraktive Investitionschance, um nachhaltige und volatilitätsarme Renditen zu erzielen. Wir haben den S.E.A. Asian High Yield Bond mit 4 von 5 Falken eingestuft.

Aktueller Webcast

SeaChange Corporation

Second Quarter 2020 Earnings Conference Call

29. August 2019

Aktuelle Research-Studie

ad pepper media International N.V.

Original-Research: ad pepper media International N.V. (von First Berlin Equity Research GmbH): Buy

23. August 2019