PREOS Real Estate AG

  • WKN: A2LQ85
  • ISIN: DE000A2LQ850
  • Land: Deutschland

Nachricht vom 11.03.2020 | 13:14

PREOS Real Estate AG: PREOS expands real estate portfolio by EUR 1 billion in 2019 as planned and increases consolidated net income from EUR 3.1 million to around EUR 64 million according to preliminary figures

DGAP-News: PREOS Real Estate AG / Key word(s): Preliminary Results/Real Estate
11.03.2020 / 13:14
The issuer is solely responsible for the content of this announcement.

PREOS expands real estate portfolio by EUR 1 billion in 2019 as planned and increases consolidated net income from EUR 3.1 million to around EUR 64 million according to preliminary figures

Leipzig, 11 March 2020 - PREOS Real Estate AG ("PREOS", ISIN DE000A2LQ850) has expanded its real estate portfolio by around EUR 1 billion in 2019 as planned and, according to preliminary, yet unaudited figures, has generated a consolidated net profit according to IFRS of around EUR 64 million after EUR 3.1 million in the previous year. Earnings before interest and taxes (EBIT) in 2019 amounted to approximately EUR 110 million, compared to EUR 5.7 million in the previous year. This increase is the result of the strong expansion of the real estate portfolio as expected, which also led to a significant increase in total assets to around EUR 875 million from EUR 98.8 million at the end of 2018.

The properties acquired in the past fiscal year include the Karstadt headquarters in Essen with a lettable area of around 100,000 square meters, the Access Tower in Frankfurt/Main, which is around 21,000 square meters in size, and the Sky headquarters near Munich with over 30,000 square meters in size.

Frederik Mehlitz, CEO of PREOS Real Estate AG: "We are very pleased that, with the support of publity AG, we have been able to further expand our real estate portfolio so quickly and thus achieve a considerable increase in profits. The portfolio is to continue to grow significantly in the future, with the investment focus remaining on German metropolitan areas such as Frankfurt and Munich.

About PREOS Real Estate AG

PREOS Real Estate AG ("PREOS") is an active real estate investor focused on office properties. PREOS acts as an efficiently structured management holding company. The acquisition focus is on office properties with development potential in German metropolitan regions. Value added is generated through targeted asset management measures. Developed portfolio properties are sold if adequate sales opportunities arise. The corporate strategy intends to significantly expand the property portfolio through acquisitions in the coming years. The PREOS share (ISIN DE000A2LQ850) is listed in the open market segment m:access of the Munich Stock Exchange (PAG.MU) and on Xetra (PAG.DE). The headquarters of PREOS is located in Leipzig.

Investor & Public Relations
edicto GmbH
Axel Mühlhaus
Eschersheimer Landstraße 42
60322 Frankfurt/Main
Phone +49(0) 69/905505-52
E-Mail: preos@edicto.de

 



11.03.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
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