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DGAP-News: Instone Real Estate Group AG / Key word(s): Preliminary Results/Annual Results Instone Real Estate publishes outlook for FY 2019 and has announced its preliminary results for FY 2018 - As expected, Instone assumes continuation of growth in the 2019 financial year - Financial year 2018 successfully concluded
- Adjusted revenues: EUR 500 - 550 million - Adjusted gross profit margin: around 28 % - Adjusted EBIT: EUR 85 - 100 million - Volume of concluded sales contracts: EUR 450 - 550 million Kruno Crepulja, CEO of Instone Real Estate: "We can look back on a successful financial year 2018. For 2019, we are excellently positioned based not least on our well-filled project pipeline. In light of this and due to the anticipated progress on projects and successful sales, our forecast for the current financial year is commensurately positive as expected." Instone Real Estate yesterday announced to the capital market the expected results for the 2018 financial year based on preliminary, unaudited figures. Adjusted consolidated earnings before tax (adjusted EBT) are higher than previously anticipated and expected to be between approx. EUR 41 million and EUR 42 million (previous forecast: EUR 32 million and EUR 37 million). According to the management board, the gross profit margin is expected to be above 28 % and thus significantly exceeding the outlook for the year 2018 of around 24 %. Moreover, the management board of Instone Real Estate Group AG anticipates the following preliminary results at group level for the 2018 financial year: - Adjusted revenues: EUR 370 - 375 million - Adjusted EBIT: EUR 49 - 50 million - Adjusted earnings after tax: EUR 18.5 - 19.5 million - Volume of concluded sales contracts: approx. EUR 460 million The preliminary earnings figures include approximately EUR 5 million in extraordinary expenses, without which the earnings figures are correspondingly better. These include, amongst others, expenses indirectly effected by the going public as well as caused by the evaluation of a corporate transaction. In addition to the satisfactory business development, the positive development of the adjusted consolidated EBT is also based on an optimization of the financing structure, which enabled improved financial results. However, adjusted earnings after tax are influenced by the reversal of deferred taxes, which results in a higher tax rate. The definitions of the alternative key performance indicators stated in the press release can be found in the glossary on the company's website under . About Instone Real Estate (IRE) Instone Real Estate is one of Germany's leading residential developers and is listed in the Prime Standard at the Frankfurt Stock Exchange. The company develops attractive multi-family and residential buildings as well as publicly subsidized housing, designs modern urban quarters and refurbishes listed buildings for residential use. Buyers are mainly owner-occupiers, private investors and institutional investors. In 27 years, Instone Real Estate has successfully developed more than one million square metres. More than 320 employees work at eight locations nationwide. As of 30 September 2018, Instone Real Estate's project portfolio comprised 45 development projects with an expected total sales volume of roughly EUR 3.6 billion and more than 8,900 units.
05.03.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
| Language: | English |
| Company: | Instone Real Estate Group AG |
| Grugaplatz 2-4 | |
| 45131 Essen | |
| Germany | |
| Phone: | |
| E-mail: | |
| Internet: | |
| ISIN: | DE000A2NBX80 |
| WKN: | A2NBX8 |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange |
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| End of News | DGAP News Service |
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