DGAP-Adhoc: publity AG: publity: Forecast clearly exceeded - consolidated net income 2019 according to preliminary numbers of around 62 million EUR more than 150 percent above previous year
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DGAP-Ad-hoc: publity AG / Key word(s): Preliminary Results 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 - 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. Information and Explanation of the Issuer to this News:
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:
10-March-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
| Language: | English |
| Company: | publity AG |
| Opernturm, Bockenheimer Landstraße 2-4 | |
| 60306 Frankfurt am Main | |
| Germany | |
| Phone: | 0341 26178710 |
| Fax: | 0341 2617832 |
| E-mail: | [email protected] |
| Internet: | www.publity.de |
| ISIN: | DE0006972508, DE000A169GM5 |
| WKN: | 697250, A169GM |
| Indices: | Scale 30 |
| Listed: | Regulated Unofficial Market in Dusseldorf, Frankfurt (Scale), Hamburg, Stuttgart, Tradegate Exchange |
| EQS News ID: | 993713 |
| End of Announcement | DGAP News Service |
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993713 10-March-2020 CET/CEST
