Provisional figures for fiscal year 2018: The Grounds exceeds turnover forecast
Ad-hoc announcement in accordance with Article 17 of the Market Abuse Regulation
Provisional figures for fiscal year 2018: The Grounds exceeds turnover forecast - a group result of EUR 4.2 million (previous year: EUR 1.2 million) was earned, with consolidated sales revenues of EUR 31.1 million (previous year: EUR 18.9 million)
Berlin, 7 June 2019 – According to provisional figures, The Grounds Real Estate Development AG (ISIN: DE000A2GSVV5) achieved consolidated sales revenues of EUR 31.1 million (previous year: EUR 18.9 million) in the 2018 fiscal year, thus exceeding its forecast figure of around EUR 30 million. As already published in an ad-hoc announcement at the end of 2018, a significant proportion of this clear turnover growth compared to the previous year was due to the sale of land in Frankfurt’s Gutleut district on which a four-storey micro-apartment block is planned.
Furthermore, a group pre-tax result of EUR 8.6 million (previous year: EUR 1.4 million) was earned, which is below the forecast value of around EUR 10.0 million. This is attributable in particular to materials costs, which rose to EUR 20.8 million (previous year: EUR 15.2 million) as a result of cost increases in the building sector. On the other hand, the group result of EUR 4.2 million (previous year: EUR 1.2 million) is slightly above expectations.
The Grounds Real Estate Development AG
Thomas Prax, Executive Board
Leipziger Platz 3, 10117 Berlin, Germany
Tel.: +49 (0) 30 2021 6866
Fax: +49 (0) 30 2021 6849
End of the ad-hoc announcement
Haus der Wirtschaft, Kapstadtring 10
T. +49 (0) 40 6378 5410
F. +49 (0) 40 6378 5423
Acquisition, project development and sustainable residential property management
The Grounds Group focuses on buying and developing residential property and, as a full-service provider for the business areas Investment (including property and asset management), Development and Trading, they have made it their goal to provide affordable living space for different life stages. The emphasis is on residential property, particularly also special real estate such as student and retirement living in German metropolitan regions and attractive locations such as aspiring outskirts in Germany. As a portfolio holder their medium-term aim is to establish a significant high quality real estate portfolio at a magnitude of EUR 500 million through investments and in-house development, allowing stable profits together with attractive dividend payments to The Grounds shareholders. The Grounds seeks to position themselves as one of the leading German real estate companies by creating added value within the scope of housing development and subsequent development of market capitalisation.