DGAP-News: publity AG records very significant increase in revenues and profit in fiscal year 2018
15.03.2019 (www.4investors.de - in Kooperation mit DGAP - EQS Group):
DGAP-News: publity AG / Key word(s): Preliminary Results/Annual Results
publity AG records very significant increase in revenues and profit in fiscal year 2018
15.03.2019 / 10:15
The issuer is solely responsible for the content of this announcement.
- Presentation of consolidated financial statements in accordance with IFRS for the first time: Net income of EUR 25 million
- Revenues, EBIT and net income for the year according to HGB 2018 all up by around 50 percent
- Strong market position
Frankfurt, 15 March 2019 - publity AG (Scale, ISIN DE0006972508) has concluded the 2018 fiscal year very successfully with significant increases in revenues and profits according to preliminary and as yet unaudited figures. For the first time, the company is presenting its consolidated financial statements in accordance with IFRS. Net income for the year amounted to EUR 25 million according to IFRS. The HGB figures for the 2018 financial year are also significantly higher than the previous year's figures - revenues, EBIT and net profit were all increased by around 50 percent. 2018 revenues according to HGB rose to EUR 34,6 million from EUR 23.6 million in 2017, EBIT to EUR 23.5 million from EUR 16.1 million a year earlier and net income for the year was around EUR 15 million, up from EUR 10.1 million in 2017.
In addition to recurring revenues from ongoing asset management mandates, the positive growth was driven by significant success fees, which reflect publity's strong market position. In 2018, for example, publity succeeded in acquiring and selling a large number of properties as well as letting a considerable number of properties within the framework of asset management mandates, with assets under management remaining constant at around EUR 4.6 billion.
Thomas Olek, publity's CEO and majority shareholder: "After a slow start to the year, we are more than satisfied with the results for 2018. Our high revenue and profit growth has further strengthened our strong market position, further expanded our property database for office properties in Germany and we have significantly increased publity's level of transparency via the IFRS consolidated financial statements. With net income of EUR 25 million in the Group, we have recorded a massive leap in profits - even though of course not fully comparable with the previous year's HGB profit of EUR 10.1 million."
publity will publish its audited consolidated financial statements in accordance with IFRS on 8 April 2019.
Financial press and investor relations:
Axel Mühlhaus/ Peggy Kropmanns
Tel.: +49 69 905505-52
publity AG is an asset manager specialising in office real estate in Germany. The company covers a broad value chain from acquisition to development through to sale of the real estate and has a track record of several hundred successful transactions. publity is characterised by a strong network in the real estate industry and in the Work-out departments of financial institutions, has excellent access to investment funds and handles transactions quickly with a highly efficient process and proven partners. publity participates in Joint venture transactions as co-investor on a case-by-case basis to a limited extent. Shares of publity AG (ISIN DE0006972508) are traded on the Scale segment of Deutsche Börse.
15.03.2019 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
Opernturm, Bockenheimer Landstraße 2-4
60306 Frankfurt am Main
Regulated Unofficial Market in Dusseldorf, Frankfurt (Scale), Hamburg, Stuttgart, Tradegate Exchange
End of News
DGAP News Service
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