Frankfurt, 29.10.2021 – publity AG (Scale, ISIN DE0006972508, “publity”) closes the first half of 2021 with a successful operating performance despite the COVID 19 pandemic. In the first half of 2021, turnover according to the German Commercial Code (HGB) amounted to approximately EUR 11.6 million. Profit after tax, also according to HGB, amounted to around EUR 4.6 million.
Due to the conversion from IFRS consolidated accounting to HGB accounting with the 2020 financial year, a comparison of the 2021 half-year figures with the figures determined according to IFRS in the first half of 2020 is not conclusive. The conversion results in significant cost savings and shows the economic circumstances of publity AG as a real estate service provider without its own portfolio assets significantly better than the IFRS financial statements.
As an asset manager, publity completed numerous real estate transactions and achieved leasing successes in the first half of 2021. For the well-known Westend Carree property in Frankfurt, which was part of the portfolio of publity’s subsidiary PREOS Global Office Real Estate & Technology AG (“PREOS”), publity was able to conclude several long-term leases in the reporting period. The property with a total rental area of 30,550 square metres was finally sold successfully to the French investment company Ardian during the first half of the year 2021.
In the first half year, publity is fully in line with the forecast for the financial year 2021 with regard to all key figures. For the overall year 2021, publity continues to expect revenues to be slightly below the previous year’s level (2020: EUR 16.1 million). The annual surplus is forecast in a range of EUR 9 to 12 million.
With the planned participation of a new majority shareholder in the publity Group subsidiary PREOS (see ad hoc notification and corporate news of 19 October 2021), publity expects further revenue and growth potential. The associated expansion of the portfolio at PREOS will enable publity to both sustainably strengthen its financial growth and further push its internationalisation strategy in the European office real estate market.
Frank Schneider, CEO of publity AG: ” We have proven that we can achieve leasing and sales success even in challenging times with the conclusion of the successful first half of 2021. This is further proof of our solid and crisis-proof business model. Furthermore, we are looking forward to the further growth steps of our company through the planned entry of the new majority shareholder in PREOS. This will allow us to further strengthen our position as asset managers for office and commercial properties in top European metropolitan areas.”
The semi-annual report 2021 of publity AG will be made available on the company’s website in the Investor Relations section in the course of 29 October 2021: www.publity.org/de/investor-relations/#finanzkalender-finanzbericht
Financial Press and Investor Relations:
Axel Mühlhaus/ Svenja Liebig
Phone: +49 69 905505-56
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. 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 with revenues of aprox. EUR 11.6 million and net profit of aprox. EUR 4.6 million in first half of 2021_Forecast for full year 2021 confirmed