- Key earnings figures significantly improved compared to the previous year, but still negative
- Increased investment activity and value increases in the portfolio
- Further improvement in earnings expected for 2022
Cologne, 23 May 2022 – VERIANOS SE (ISIN: DE000A0Z2Y48) published its audited consolidated financial statements for the 2021 financial year today. As expected, the company has significantly improved its key earnings figures compared to the previous year but continues to report a negative result. The operating result (EBITDA) increased by EUR 0.6 million to around EUR -2.0 million compared to the previous year, while the consolidated result improved by EUR 3.6 million to EUR -3.0 million during the same period. As in the 2020 financial year, 2021 continued to be influenced by the COVID-19 pandemic. The main reason for the negative result was that although scheduled property divestments were initiated in the fourth quarter, they were not implemented during the financial year. Revenues decreased accordingly from EUR 2.6 million to EUR 1.5 million. Operating performance, including changes in inventories and other current operating income, increased slightly by EUR 0.1 million to EUR 2.9 million. The company’s capitalisation as of the balance sheet date remains solid, with an equity ratio of 29.9% (previous year: 41.7%) and an increase in total assets of EUR 4.7 million.
The increased investment activity since 2020 with acquisitions both in Germany and Spain continued in the 2021 financial year. One highlight was the purchase of a development site in the Rhineland area as a joint venture investment, where a landmark ecological quarter with predominantly residential use will be developed. In total, VERIANOS SE through various investment vehicles now has equity in excess of EUR 100 million at its disposal for investments in real estate with high value creation potential.
In addition, extensive renovation work on the existing portfolio in the retail and office segments was completed within time and budget during the 2021 financial year and the refurbished space was handed over to new tenants, which led to correspondingly significant valuation increases of the properties concerned.
Tobias Bodamer, Managing Partner of VERIANOS SE: “Assuming a stable transaction environment and an unchanged cost structure with management fees and investment income from the disposal of two properties being realised as planned, we expect a significant improvement in earnings for 2022.”
VERIANOS is a real estate private equity and advisory company that acquires assets with high value creation potential in Europe together with long-term oriented private investors. VERIANOS focuses on impact and value investments in the small and mid-cap segment (individual asset volumes between EUR 2 and 25 million).
T +49 221 200 46 105
Financial and business press:
T +49 221 9140 970