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publity: Forecast clearly exceeded — consolidated net income 2019 according to preliminary numbers of around 62 million EUR more than 150 percent above previous year  

Inside information pursuant to Article 17 of the Regulation (EU)

publity: Forecast clearly exceeded — consolidated net income 2019 according to preliminary numbers of around 62 million EUR more than 150 percent above previous year

Frankfurt 10 March 2020, 3:45 pm — publity AG (Scale, ISIN DE0006972508) has achieved a substantially higher profit than predicted according to preliminary, not yet audited numbers of 2019. Thus, the consolidated results for the closed financial year should total to approx. 62 millions. This complies with more than 2.5 times above the 24.6 millions EUR in 2018. The previous forecast for the consolidated net profit 2019 was at about 50 millions EUR. The leap in profits results substantially from the significant expansion of the own real estate portfolio which is pooled in the PREOS Real Estate AG. According to preliminary calculations for 2019, the earnings before interest and taxes (EBIT) amounts about 106 millions EUR after 30.8 millions EUR in the previous year.  Due to the portfolio expansion, the balance sheet total significantly increases to now approx. 841 million EUR after 187.9 million EUR at the end of the year 2018.

EXPLANATION SECTION

publity has expanded its own portfolio by around 1 billion EUR in 2019 alone. The properties acquired in 2019 include, for example, the 100,000 square meter Karstadt headquarters in Essen, the approximately 21,000 square meter Access Tower in Frankfurt/Main and the Sky headquarters near Munich with a lettable area of over 30,000 square meters.

Thomas Olek, CEO of publity AG: «The fact that we will achieve a significantly higher profit in 2019 than forecast takes into account the very successful business performance in 2019 with a strong expansion of our own real estate portfolio, which we hold in our Group subsidiary PREOS and intend to expand rapidly in the future. We have thus built our business model on two stable pillars, earn attractive steady fees as an asset manager and benefit fully from the sale of our own properties or still generate rental income until the properties are sold».

 

Press Contact:

Financial Press and Investor Relations:

edicto GmbH

Axel Mühlhaus/ Peggy Kropmanns

Phone: +49 69 905505-52

Mail: publity@edicto.de

Forecast clearly exceeded — consolidated net income 2019 according to preliminary numbers of around 62 million EUR more than 150 percent above previous year