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.

Contact:
The Grounds Real Estate Development AG
Arndt Krienen, Thomas Prax, Members of the Management Board
Leipziger Platz 3, 10117  Berlin, Germany
Tel.: +49 (0) 30 2021 6866
Fax: +49 (0) 30 2021 6849
E-mail: info@thegroundsag.com
Web: www.thegroundsag.com

End of the ad-hoc notice

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