EVAN Group plc.

  • WKN: A19L42
  • ISIN: DE000A19L426
  • Land: Deutschland

Nachricht vom 19.06.2019 | 14:12

EVAN Group plc.: EVANGroup publishes financial results and forecast: business growth on track

DGAP-News: EVAN Group plc. / Key word(s): Annual Results/Forecast

19.06.2019 / 14:12
The issuer is solely responsible for the content of this announcement.


- 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

Valletta, 19 June 2019: EVANGroup plc (EVAN) (ISIN DE000A19L426 / WKN A19L42) has reported its annual results for the 2017 financial year, which were in line with company forecasts. The company, which was taken over by the current shareholder structure in 2017, was completely realigned during the course of that year through a series of initial investments, which have led to an extensive change in the balance sheet structure and thus make any comparison with the previous year irrelevant.

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).

Contact for further information:
Dr. Charlotte Brigitte Looß
NewMark Finanzkommunikation GmbH
Walther-von-Cronberg-Platz 16
D-60594 Frankfurt am Main

Tel.: +49 (0) 69 94 41 80 63
Fax: +49 (0) 69 94 41 80 19
E-mail: IR@evan-group.com
or www.evan-group.com

Important Information / Disclaimer:

This publication shall not constitute an offer to sell or a solicitation of an offer to buy or subscribe of any securities of EVANGroup Plc in any jurisdiction. Potential users of this information are requested to inform themselves about and to observe any such restrictions.

This publication and the information contained therein are not directed at or to be accessed by persons who are residents of the United States, who are physically present in the United States, who are otherwise "U.S. persons" as defined in Section 902 of Regulation S under the United States Securities Act of 1933, as amended (the "Securities Act") or who are located in Canada, Australia or Japan or any jurisdictions in which the distribution of this publication or release of such information would be unlawful.

Securities of EVANGroup plc cannot be offered or sold in the United States without registration under the Securities Act or pursuant to an exemption from such registration. EVANGroup plc has not registered, and does not intend to register, any of its securities under the Securities Act or to conduct a public offering of securities in the United States.

This publication shall not be regarded as an investment advice or recommendation within the meaning of German Securities Prospectus Act or Directive 2003/71 /EC of the European Parliament and may not be used for an offering requiring such prospectus. EVAN Group Plc will not be responsible for the content of this document in relation to any offering which requires such a prospectus.

This publication contains 'forward-looking statements'. Forward-looking statements are all statements, which do not describe facts of the past, but containing the words "believe", "estimate", "expect", "anticipate", "assume", "plan", "intend", "could", and words of similar meaning. These forward-looking statements are subject to inherent risks and uncertainties since they relate to future events and are based on current assumptions and estimates of EVANGroup plc, which might not occur at all or occur not as assumed. They therefore do not constitute a guarantee for the occurrence of future results or performances of EVANGroup plc The actual financial position and the actual results of EVANGroup plc, as well as the overall economic development and the regulatory environment may differ materially from the expectations, which are assumed explicitly or implicitly in the forward-looking statements and do not comply to them. Therefore, investors are warned to base their investment decisions with respect to EVANGroup plc on the forward-looking statements mentioned in this publication.

19.06.2019 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.
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