Instone Real Estate Group AG / Key word(s): Preliminary Results/Annual Results
Instone Real Estate Group AG: Preliminary Results 2018
On the basis of the preliminary unaudited figures, the management board of Instone Real Estate Group AG assumes that the financial year 2018 is expected to close with adjusted consolidated earnings before taxes (adjusted Group EBT)* between 41 million euro and 42 million euro and thus higher than forecasted. In the company's quarterly statement for the third quarter of 2018, the management board still expected a lower adjusted Group EBT for the financial year 2018 between 32 million euro and 37 million euro.
The increase over the forecast is mainly based on an improved project gross profit as well as on a better financial result. Accordingly, based on the currently unaudited figures the management board expects the gross profit margin to be more than 28 % and therefore exceeding the forecast given for the financial year 2018 of around 24 %.
In addition, the management board of Instone Real Estate Group AG provisionally expects the following adjusted results* for the financial year 2018:
- Adjusted Revenues: 370 - 375 million euro
- Adjusted EBIT: 49 - 50 million euro
- Adjusted Profit After Tax: 18,5 - 19,5 million euro
- Volume of concluded sales contracts: Approx. 460 million euro
Adjusted earnings figures include extraordinary expenses of approx. 5 million euro.
The Operating Performance, which Instone Real Estate Group AG does not use anymore as a key performance indicator due to the focus on revenues, is expected to be around EUR 430 million which is below the last forecast.
Instone currently prepares its consolidated financial statement 2018. The publication continues to be scheduled for 28 March 2019.
* The definitions of the alternative performance measures mentioned in the notification can be found in the glossary on the company's website under http://ir.de.instone.de/websites/instonereal/English/3400/glossary.html .
|Company:||Instone Real Estate Group AG|
|Phone:||+49 201 453 550|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange|
|End of Announcement||DGAP News Service|