VERIANOS believes that half-year figures confirm good course
- Sales revenues clearly up on prior year period
- Earnings of EUR 0.8 million to EUR 1.2 million expected for full year
- Established structure of a capital management company will make higher contribution to earnings starting 2020
Cologne/Frankfurt am Main, 4 November 2019 – On 31 October 2019, VERIANOS Real Estate Aktiengesellschaft (ISIN: DE000A0Z2Y48, WKN: A0Z2Y4) published its consolidated interim report for the first half of 2019. In the first six months of 2019, revenues climbed 32.2% to kEUR 986 (H1 2018: kEUR 746), while total output including changes in inventories and other operating income amounted to kEUR 1,152, up 20.4% higher than in the same period of the previous year (H1 2018: kEUR 957). At kEUR -1,780, the consolidated result for the first six months is negative but slightly higher than in the first half of 2018 (H1 2018: kEUR – 1,845).
“The figures for the first six months of our financial year are in line with our expectations,” says VERIANOS Management Board member Tobias Bodamer. “Experience shows that revenues from consulting agreements and significant transactions are realized in the second half of the year, which was also the case in previous years. Overall, we are well on track to becoming one of Europe’s leading players in the small & mid cap real estate investment market. It will always remain our main goal on this road to achieve outstanding performance for our investors.”
Although the significant rise in real estate prices across all sectors makes it more difficult for VERIANOS to implement positive value impulses, the company expects earnings for the full year to come in at between EUR 0.8 million and EUR 1.2 million. “We have deliberately aligned our investment approaches to giving top priority to safety in the current environment. While we continue to review numerous properties for purchase, we are extremely disciplined in pricing so as to anticipate possible market corrections, for which there are certainly some indications. In Germany, we are currently focusing on the sale of commercial real estate, while two regional strategies see us making investments primarily in the residential segment in Valencia and the Rhineland,” says Tobias Bodamer.
Apart from this, VERIANOS AG is concentrating on raising funds for its European Real Estate Mezzanine Fund, which has a target volume of at least EUR 100 million, and its European Real Estate Opportunities Fund. As usual, the company will make a significant co-investment in both strategies. These funds are targeted at properties in special situations throughout Europe aiming at double-digit internal rates of return (IRR). “With regard to our investment strategies, we are thus well positioned both sectorally and geographically,” says VERIANOS Management Board member Tobias Bodamer.
The Management Board assumes that BaFin’s Q3 2018 approval for VERIANOS AG to operate as a capital management company in accordance with the German Capital Investment Act will result in a significantly higher transaction volume with existing and new investment products and, consequently, in rising results once this realignment is strategically implemented next year.
For the full half-year report and further information on VERIANOS Real Estate Aktiengesellschaft, visit www.verianos.com
VERIANOS is a listed real estate company with headquarters in Cologne and offices in Frankfurt, Luxembourg, Madrid, Milan and Valencia. The company sees itself as a real estate partnership that acts for its customers at the interface of real estate and capital markets. With its business units Investment and Advisory, VERIANOS realises customised investment products and ambitious advisory and financing mandates for its clients.
Further information on VERIANOS Real Estate Aktiengesellschaft is available on www.verianos.com. This publication constitutes neither an offer to sell nor a solicitation to buy any securities.
VERIANOS Real Estate Aktiengesellschaft
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