Frankfurt, 24/09/2020 – publity AG (Scale, ISIN DE0006972508, “publity”) has continued its dynamic growth course in the first half of 2020 and achieved a consolidated profit after taxes on an IFRS basis of EUR 34.7 million, compared to approx. EUR 21.0 million in the previous year. Earnings before interest and taxes (EBIT) almost tripled in the reporting period compared to the previous year and amounted to EUR 74.9 million (1st half of 2019: EUR 26.9 million). Since the end of 2019, publity’s equity capital has also increased from EUR 302.5 million to EUR 406.4 million as of 30 June 2020; compared to the previous year, equity capital even tripled.
At the beginning of 2020, publity AG was able to realise attractive acquisitions for its real estate portfolio, which is combined in the group subsidiary PREOS Real Estate. In the financial metropolis of Frankfurt/Main, for example, the approximately 30,500 square metre large Westend Carree and the Centurion Tower were acquired. Accordingly, the real estate portfolio in the publity Group was further expanded significantly in the reporting period.
publity also continued its growth course in the first half of the year through numerous transactions in the segment of asset management. The aim is to continuously increase the assets under management: The company plans to increase the currently managed portfolio of just over EUR 5.5 billion to around EUR 10 billion by 2023.
Thomas Olek, CEO of publity AG: “Our half-year figures once again prove that publity is successfully active in a highly attractive market segment. Even during the COVID 19 crisis, our business model proved to be extremely resilient. We will continue this dynamic growth course.”
The semi-annual financial statements for 2020 are published at www.publity.org in the “Investor Relations” section. The complete semi-annual report 2020 can be found there as of 28 September 2020.
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publity AG (“publity”) is an asset manager and investor specialised in office real estate in Germany. The company covers the core of the value chain from the acquisition to the development and the sale of real estate. With over 1,100 transactions in the past seven years, publity is one of the most active players in the real estate market. Currently, the company manages a portfolio with a value of over five billion euros. publity is characterized by a sustainable network in the real estate industry and in the Work-Out departments of financial institutions. With very good access to investment funds, publity handles transactions rapidly with a highly efficient process and proven partners. On a case-by-case basis, publity participates as co-investor in joint venture transactions to a limited extent. The shares of publity AG (ISIN DE0006972508) are traded on the Scale segment of Deutsche Börse.
publity AG increases EBIT in the first half of 2020 to EUR 74.9 million (previous year 26.9 million) and consolidated net income to EUR 34.7 million (21.0 million)