Jacopo Mingazzini appointed as an additional member of the Management Board of The Grounds Real Estate Development AG
Ad-hoc notice pursuant to Article 17 of the Market Abuse Directive
The Grounds Real Estate Development AG: significant increase in forecast result for 2020
Berlin, 15 September 2020 (15:37 CET/CEST) – Following provisional half-year figures for 2020, The Grounds Real Estate Development AG (ISIN: DE000A2GSVV5) earned a group consolidated result after taxes of around EUR 1.0 million (previous year: EUR -0.1 million) in the first half-year of 2020. The reason for the positive result is a revaluation in the real estate property portfolio. In view of developments in the first half-year and expectations for the next few months, the Management Board of The Grounds Real Estate Development AG has significantly increased the results forecast for the whole year 2020. The Management Board now predicts a group consolidated result after taxes expected to be EUR 2 million instead of an earnings level comparable the previous year.