DGAP-News: Consus Real Estate AG finished successful year of growth, operational achievements and sales laying strong foundation for 2019
21.01.2019 (www.4investors.de) -
DGAP-News: CONSUS Real Estate AG / Key word(s): Miscellaneous
Consus Real Estate AG finished successful year of growth, operational achievements and sales laying strong foundation for 2019
21.01.2019 / 10:14
The issuer is solely responsible for the content of this announcement.
Consus finished successful year of growth, operational achievements and sales laying strong foundation for 2019
Berlin, 21 January 2019 - Consus Real Estate AG ("Consus", ISIN DE000A2DA414, CC1), a leading German property developer with a focus on residential properties in Germany's top nine cities, publishes a market update ahead of its investors meetings this week.
EUR 2.5bn of forward sales drives sales performance
Consus has signed forward sales agreements for projects with a GDV (gross development volume) of c. EUR 500m with a strong sales performance in Q4 2018 led by projects in Cologne, Mannheim, Frankfurt and Dresden. Another forward sale signed last week for the Ostplatz project in Leipzig complements the successful placement of property developments. Furthermore, by the end of the year Consus had forward sold condominiums in the amount of EUR 120m. Consus now has EUR 2.5bn of institutional forward sales, including contracted, LOIs signed and under negotiation, representing a 25% share of its GDV. A share of 79% of its GDV is with a forward sales approach.
In addition to the forward sales, Consus sold a district development (Postscheckamt) in the centre of Berlin at the end of December 2018 to a commercial real estate developer. This was a strategic move to further increase the focus on residential developments.
Fully integrated development platform with high-profile addition to the extended management board
Following the acquisition of SSN Group AG ("SSN"), Consus is in the process of integrating the development platform into its operations and has integrated the SSN management into its Extended Management Board. As part of this process, Bernhard Hansen, designated COO of SSN, has been appointed to its Extended Management Board. Bernhard Hansen has previously held executive positions at CA Immo Deutschland, was CEO of Vivico Real Estate AG and joined SSN at the beginning of 2018. During his career, he oversaw several landmark developments such as the skyscraper "185" in Frankfurt and "Tour Total" in Berlin.
Pro-forma financial information including SSN
Consus publishes the following pro-forma financial information. For the combined group for the nine months ended as at 30 September 2018, the pro-forma overall performance was EUR 479m, the pro-forma revenue was EUR 308m and the pro-forma adjusted EBITDA (i.e., pre-PPA and pre-one offs) was EUR 133m. As of 30 September 2018, net debt was EUR 2,182m and the estimated market value of the assets was EUR 2.9bn.
The updated company presentation is available on our corporate website in the Financial Report & Presentation section (https://www.consus.ag/financial-reports-presentations-2019?lang=en).
+49 30 965 357 90 260
About Consus Real Estate AG
Consus Real Estate AG ("Consus") a leading German property developer with EUR 9.7bn (GDV) in properties under development. The Company focuses on residential property in Germany's top nine cities. Consus specialises in the development of entire neighbourhoods ('quartiers') and standardised flats. The use of forward sales to institutional investors and the digitalisation of construction processes allow the Company to operate along the entire property development value chain. Consus implements projects - from the planning phase through to construction and transfer of ownership, as well as property management and the associated services - via its subsidiaries CG and SSN. Consus Real Estate AG's shares are listed in the Scale segment of the Frankfurt Stock Exchange and m:access segment of the Munich Stock Exchange and are traded on XETRA in Frankfurt, among others.
21.01.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de
CONSUS Real Estate AG
+49 (0)30 965 357 90 300
Regulated Unofficial Market in Dusseldorf, Frankfurt (Scale), Munich (m:access), Stuttgart, Tradegate Exchange
End of News
DGAP News Service