Consus Real Estate - Full commitment to residential real estate
In H118 Consus completed its transformation into a pure-play, residential real estate developer focused on the forward sale operating model. It keeps a stable share of forward sold investments within its portfolio at c 26%, despite expanding its gross development value (GDV) by 37.4% ytd to €6.2bn. The company has implemented IFRS 15 into its accounting policies to better reflect recognition of income from property development. Ability to deliver results in line with the expected significant bottom line improvement is crucial for the company’s future market valuation, which has been volatile in recent months.CONSUS Real Estate AG is a Germany-based company specialized in the real estate sector. The Company specializes in the development of entire neighborhoods and standardized flats. Additionally, CONSUS Real Estate AG operates along the entire real estate development chain, which includes the acquisition, development & planning, forward sales, construction, hand-over, as well as letting of real estate developments and other services via its subsidiaries CG Gruppe AG and SSN Group AG. The Company reports its businesses into three main segments: Consus, which focusses on supporting the subsidiaries through head office functions; CG, which includes the development of real estate for residential and commercial use, as well as the renting of commercial and residential real estate services, and SSN, which encompasses the development of real estate for residential and commercial use. The Company is present in Berlin and Frankfurt, among others.
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