publity AG lifts forecast for 2018
Publication of insider information according to Article 17 of the MAR
- EBIT, net income and revenues expected to be 20 to 30 percent higher than in previous year
- Successful transactions and rentals have driven growth
Leipzig, 14 November 2018/16:23 CET/CEST – The Managing Board of publity AG (“publity”, ISIN: DE0006972508) has decided after today’s successful disposal of an own NPL portfolio and after the recent property sales for customers of publity combined with significant success fees as well as based on the overall improved business growth to lift its forecast for revenues and earnings for fiscal year 2018. The Managing Board of publity is now expecting for fiscal 2018 that its revenues, EBIT and net income will each be 20 to 30 percent higher than the figures for 2017. This forecast refers to the HGB (German Commercial Code) accounting; possible positive effects from a future IFRS accounting are not taken into account. To date, the company had been forecasting revenues for 2018 to be slightly lower than in the previous year, with EBIT and net income to be at the previous year’s level. publity’s positive growth has not only been driven by the disposal of the NPL portfolio but also by successful real estate purchases and disposals for customers as well as rental successes for customers as part of the active manage-to-core strategy. publity is currently in concrete negotiations regarding the disposal of further high-volume real estate portfolios for publity customers.
Information and comments by the issuer on this notice:
Revenues in fiscal year 2017 totaled EUR 23.6 million, EBIT amounted to EUR 16.1 million with net income of EUR 10.1 million. Thomas Olek, publity’s CEO and majority shareholder: “This year we will significantly exceed these revenue and earnings figures from the previous year. We have overcome the operative dip in the past few quarters and are now in an even stronger position than before. We have set up a very extensive, high-performance property database for the German office property sector, which supports us in the current market environment, in particular for property purchases and for rentals. In addition, we have made our network even more tightly meshed and developed new investor groups for publity.”
The Managing Board
publity AG lifts forecast for 2018
Press contact:
Financial press and investor relations:
edicto GmbH
Axel Mühlhaus/ Peggy Kropmanns
Tel.: +49 69 905505-52
E-mail: publity@edicto.de