Instone Real Estate Group SE / Key word(s): Forecast
New forecast for the financial year 2022
Essen, 10 August 2022 -
In its meeting today, the Management Board of Instone Real Estate Group SE ("Instone") has derived a new forecast for the current financial year 2022 based on business development and revised planning. Hence, Management assumes revenues (adjusted) of EUR 600 to 675 million, a gross profit margin (adjusted) of at least 25.0 percent and earnings after tax (adjusted) of EUR 40 to 50 million. Furthermore, the Management Board expects a volume of sales contracts of around EUR 350 million.
The Management Board expects that the negative impact on the affordability of the Instone product and the uncertainty among customers as a result of the sharp rise in mortgage interest rates will continue to impact the speed of sales and thus revenue.
The results of the first six months of the current fiscal year 2022 have been included in the new forecast. Revenues (adjusted) in the first half of 2022 amounted to EUR 268.0 million (previous year: EUR 260.5 million), the gross profit margin was 25.7 percent (previous year: 29.4 percent) and earnings after tax totalled EUR 19.6 million (previous year: EUR 23.4 million).
The full half-year report will be accessible on the Instone website www.instone.de on 11 August 2022.
|Company:||Instone Real Estate Group SE|
|Phone:||+49 201 453 550|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange|
|EQS News ID:||1417963|
|End of Announcement||DGAP News Service|