EVAN Group plc.
EVAN Group plc.: EVANGroup publishes financial results and forecast: business growth on track
DGAP-News: EVAN Group plc. / Key word(s): Annual Results/Forecast – Investment phase off to a good start – P&L statement affected by initial costs for high-quality project pipeline – Balance sheet shows high equity ratio – Interest on bond 2017/2022 serviced from current cash flows
EVAN is a real estate company dedicated to meeting the needs of modern tenant groups for property and services within the metropolitan regions in Germany. Company growth is achieved through value-added investments, construction, the development and structural renovation of the buildings within the company’s own portfolio, and the acquisition of further real estate and real estate companies. EVAN is currently in the investment phase of an attractive project pipeline, guided by the vision of creating communities for tomorrow. The administrative costs incurred in connection with this resulted in a net loss of EUR 1,902 thousand for 2017 as a whole, which was also expected on this scale. EVAN’s balance sheet total (total assets) amounted to EUR 114,003 thousand as at 31 December 2017, with an equity ratio of 86 percent. The bond 2017/2022 issued on 31 July 2017 enabled EVAN to acquire further properties that also show promise over the short and medium term. As already reported, it was already possible to sell one of these properties again at a substantial profit in 2018, whereby the majority of this profit is being recorded in 2019. This enables EVAN to make further investments as well as the interest payments on the bond from current revenues. The primary objective of the company’s capital management strategy is to maintain a high credit standing and healthy capital ratios to support business transactions and increase its worth. “We are very satisfied with the start of business operations and the result achieved by the EVANGroup. The delay in publishing our year-end results for 2017 is due solely to administrative bottlenecks that lay beyond our control,” explains Dr Michael Nave, Director and CEO of EVANGroup. “Since we have continued to invest in promising development projects during 2018, that year will show a similar picture to 2017. We expect the first capital gains to be booked during the current year. We are facing a market that is becoming more and more professional. Our three real estate concepts – livinit, shopinit and sleepinit – give us the strong unique selling points we need.” About EVANGroup plc: EVANGroup plc is an institutional owner-operator of commercial properties in the top 10 German cities, using their long-standing experience to create value in underserved niche markets, such as micro living for students and professionals, workers’ accommodation and specialty commercial properties. EVAN is following in the footsteps of UNIMO Real Estate Holding AG, in which EVAN’s owners have completed numerous transactions over the past two decades. Using a best-in-class approach in corporate structure and governance, EVAN focuses on developing and managing real estate projects specifically created for institutional investors. One example is IMOTEX in Düsseldorf (www.imotex.de), the largest and best-known Pronto Moda Center in Europe, with over 55,000 square metres of rental space. EVANGroup plc is building its current and future portfolio of commercial and residential real estate in Germany on a three-pillar strategy: livinit (development and management of commercially used residential properties); shopinit (development and management of retail niche formats); and sleepinit (development and specialised operation of accommodation for construction or contract workers).
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19.06.2019 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG. |
Language: | English |
Company: | EVAN Group plc. |
St. Christopher Street 168 | |
VLT 1467 Valletta | |
Malta | |
E-mail: | info@evan-group.com |
Internet: | www.evan-group.de |
ISIN: | DE000A19L426 |
WKN: | A19L42 |
EQS News ID: | 827449 |
End of News | DGAP News Service |