— EBIT in 1st six months at 27.0 million euros
— Consolidated net profit at Euro 21.0 million
— Assets under Management at EUR 5.0 billion
— Expansion of real estate portfolio to continue
— Forecast 2019 confirmed: Consolidated net profit to double to around EUR 50 million
Frankfurt 2/09/2019 — publity AG (Scale, ISIN DE0006972508) closed the first half of 2019 with profit figures that were already at almost the same level as the full-year figures for 2018. The consolidated net profit according to IFRS accounting amounted to EUR 21.0 million in the first half of 2019, almost reaching the full-year figure for 2018 of EUR 24.6 million. A comparable figure for the first half of 2018 is not available, as only an individual financial statement according to HGB accounting was prepared for the period. Earnings before interest and taxes, EBIT, amounted to EUR 27.0 million in the Group in the first six months of 2019 and thus also approached the full-year figure for 2018 of EUR 30.8 million.
The successful development in the first half of 2019 was driven equally by activities in asset management — Assets under Management rose to EUR 5.0 billion from EUR 4.6 billion at the end of 2018 — and by the expansion of the Group’s own commercial real estate portfolio. publity expects the positive tendency to continue and plans the dynamic expansion of the real estate portfolio in the coming quarters.
For 2019 as a whole, the executive board of publity AG confirms its forecast that the consolidated net profit will double over the previous year to around 50 million euros.
Thomas Olek, CEO of publity AG: «The very successful business development in the first half of 2019 once again underlines our strong market position, our sustainable network and our excellent access to attractive real estate. We are very optimistic for the future and see ourselves very well equipped for further profitable growth. We are already in advanced negotiations for further purchases and sales of properties for our customers.“
The 2019 semi-annual report will be available in the course of the day on publity AG’s website at www.publity.de in the Investor Relations section.
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.