PRESS RELEASE

Successful 2019 financial year for ACCENTRO

Berlin, 26 March 2020 - ACCENTRO Real Estate AG can look back on a very successful 2019 financial year. The company posted a net result of 26.3 million euros (2018: 18.3 million euros), one of its best to date. The operating profit (EBIT) was 21 per cent higher than the EBIT in the previous year, and at nearly 40 million euros (2018: 32.8 million euros) it is the highest ever in the company's history; this was generated to a significant degree by the high gross profit margin of 29.9% (2018: 27.6%) from the privatisation business. The consolidated sales in the 2019 financial year were 143.2 million euros, with the balance sheet total increasing over the cut-off date 31.12.2018 from 474.2 million euros to 580.7 million euros.

Diversification develops positively

The nationwide expansion in Germany is moving forward. Thus it was possible to press ahead with the diversification of the real estate portfolio outside Berlin through the acquisition of a larger real estate portfolio in Upper Bavaria and of real estate portfolios in the Rhine-Main region. In total the portfolio of properties increased by a further 71.3 million euros.

Continuation of expansion course

At the beginning of 2020 ACCENTRO succeeded in repaying a bond ahead of schedule and replacing it with a significantly larger bond with a volume of 250 million euros. "This shows the trust enjoyed by the company on the financial markets," says Lars Schriewer, the chief executive officer of ACCENTRO. "With the additional leeway we are in a position to consummate further expansion. The first properties have already been acquired, others will follow," adds Schriewer.

About ACCENTRO Real Estate AG
ACCENTRO Real Estate AG is Germany's market leader in housing privatisations. In addition to its home market of Berlin, the company focuses on auspicious metro regions such as Hamburg, Rhine-Ruhr, Rhine-Main and Leipzig. In its Privatisation business unit, ACCENTRO retails condominiums from its proprietary portfolio to owner-occupiers and buy-to-let investors or-bundled into portfolios-to institutional investors. In its Services & Ventures business unit, ACCENTRO sells apartments on behalf of investors and property developers-including through equity investments in its own right within the framework of joint ventures. ACCENTRO Real Estate AG is listed on the Prime Standard segment of the Frankfurt Stock Exchange (German securities code number WKN: A0KFKB, ISIN: DE000A0KFKB3).


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