- Consolidated profit for 2019 at EUR 64.1 million (previous year: EUR 24.6 million)
- EBIT at EUR 116.3 million (previous year: EUR 30.8 million)
- Equity more than doubled to EUR 302.5 million (end of 2018: EUR 119.8 million)
- Positive outlook: publity with strong market position as experienced asset manager and real estate investor
Frankfurt/Main, 13 May 2020 – According to final, certified figures, publity AG (Scale, ISIN DE0006972508) has generated a consolidated surplus of EUR 64.1 million in the 2019 financial year. The previous year’s profit of EUR 24.6 million was thus increased by around 160 percent and even exceeded the preliminary result of around EUR 62 million announced in March. The increase in earnings before interest and taxes was even higher: In the past financial year, EBIT more than tripled compared with the previous year and now stands at EUR 116.3 million, compared with EUR 30.8 million in 2018. At the same time, the EBIT of around EUR 106 million anticipated in the preliminary figures was thus significantly exceeded. Group equity amounted to EUR 302.5 million at the 2019 balance sheet date, more than twice as high as a year before at EUR 119.8 million.
The leap in profits in 2019 resulted substantially from the dynamic expansion of the property portfolio. Since the beginning of 2019, publity has acquired German office properties for its own portfolio, which is bundled in the group subsidiary PREOS Real Estate AG, with a value of around EUR 1 billion. However, some of the transactions were not closed until after the balance sheet date, so that they are not yet reflected in the 2019 figures. We were also able to sell two large-volume properties from our own portfolio at very attractive conditions. The real estate assets managed by publity, including the asset management portfolio, increased in the course of 2019 despite the property sales to more than EUR 5.5 billion from EUR 4.6 billion at the end of 2018.
publity considers itself to be very well-positioned for further positive business development – with a well-balanced 2-pillar business model, in which steady fees from asset management and income from its own portfolio are combined. The company’s own portfolio will continue to be expanded significantly in the future, with the focus on properties in top locations in cities such as Frankfurt and Munich, with a market value of over EUR 50 million each.
Thomas Olek, CEO of publity AG: “We are pleased about the exceptional result in 2019, with which we have even exceeded our targets, and are confident about the future development of our business. The quality of a good asset manager and investor and our excellent market access with our strong network and extensive database is particularly evident in the market environment, which is becoming more difficult due to the Corona pandemic. Moreover, with our focus on top properties in the top 7 cities in Germany, we are active in a market segment that is stable above average.”
The Annual Report 2019 is available for download in the Investor Relations section of the publity website.
Financial Press and Investor Relations:
Axel Mühlhaus/ Peggy Kropmanns
Phone: +49 69 905505-52
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 with consolidated net profit 2019 of around Euro 64 million – preliminary figures even exceeded