- Revenues in H1 2018 at EUR 13.3 million (previous year: EUR 12.9 million)
- EBIT totals EUR 7.1 million (previous year: EUR 8.1 million)
- Forecast for 2018 confirmed
- Advanced-stage negotiations for additional property sales; additional purchases also in pipeline
Leipzig, 17 August 2018 - publity AG (Scale, ISIN DE0006972508) increased its revenues (HGB) in the first half of 2018 to EUR 13.3 million, up from EUR 12.9 million in the same period of the previous year. Earnings in the period under review were in line with expectations and were lower than the previous year's figure. This was due in particular to the costs associated with property sales in the first half of 2018. EBIT amounted to EUR 7.1 million after EUR 8.1 million in the previous year. Net income totaled EUR 4.4 million after EUR 5.5 million in the previous year.
publity AG reached key operating milestones during the period under review. Part of the portfolio
sales that had been scheduled for December 2017 were realised in the second quarter of 2018, such as the sale of the fully-let office portfolio of four properties in the greater Munich, Cologne and Düsseldorf regions to J.P. Morgan Asset Management and LGT Capital Partners. These properties have around 100,000 square meters of space. In spite of this, however, it was still possible to maintain the real estate assets managed by publity AG at the high level of EUR 4.6 billion at the end of the first half of 2018.
In addition, after the end of the reporting period, additional key activities were initiated to continue the company's on-track growth. These include additional asset management mandates with institutional investors.
publity has confirmed the forecast it had already modified for fiscal year 2018 (see ad-hoc disclosure dated 21 June 2018). The company is forecasting earnings (EBIT and net income) at the 2017 level with revenues slightly lower than in the previous year. Despite additional planned sales of real estate, assets under management (AuM) are to remain stable in 2018. publity is already in advance-stage negotiations for both the sale of additional properties and also for real estate acquisitions.
The 2018 semi-annual report can be downloaded from publity AG's Web site at www.publity.de.
Contact:
Financial press and investor relations:
edicto GmbH
Axel Mühlhaus/ Peggy Kropmanns
Tel.: +49 69 905505-52
E-mail: [email protected]
About publity
publity AG is an asset manager specialised in German office real estate. The company covers a broad value chain from acquisition to development through to the sale of real estate and has a track record of several hundred successful transactions. publity is characterized by a strong network in the real estate sector as well as by the work out departments of financial institutions, has very good access to investment resources and conducts transactions quickly with a highly efficient process with proven partners. As a co-investor, publity is, to a limited extent, involved in joint venture transactions. The shares of publity AG (ISIN DE0006972508) are traded on the exchange segment Scale of the German stock exchange.
17.08.2018 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
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