Detail

Gateway Real Estate AG: Forecast for the fiscal year 2021 and announcement of the proposal for the appropriation of profits for the Annual General Meeting 2021

Berlin, April 26, 2021. The Management Board and Supervisory Board of Gateway Real Estate AG ("Company" - WKN A0JJTG / ISIN DE000A0JJTG7) adopted in its today's meeting the forecast for the fiscal year 2021 and decided on the proposal for the appropriation of the net retained profits generated in the fiscal year 2020.

The Covid-19 pandemic continues to define the current situation and with the new Infection Protection Act and the federal emergency brake contained therein, influences on the business remain difficult to predict.

The company expects for the fiscal year 2021 EBIT adjusted* of EUR 95 to 110 million (forecast for the fiscal year 2020: more than EUR 137 million) and earnings before taxes (EBT) of EUR 70 to 80 million (forecast for the fiscal year 2020: more than EUR 110 million).

Decisive for the business development are the sale of the entire commercial property portfolio in the first quarter of 2021 as well as future planned sales in the course of forward sale transactions in the residential property development segment.

Considering this forecast and the extended corporate strategy communicated in October 2020, as a result of their discussions, the Management Board and the Supervisory Board have decided to propose to the Annual General Meeting to refrain from a dividend payment this year. Instead, the net retained earnings shall be invested in the further growth of the company.

The company will publish its annual report for fiscal year 2020 on April 30, 2021.

* EBIT adjusted: Operating income plus income from investments accounted for using the equity method.
 

Contact
Sven Annutsch
Hardenbergstr. 28a
10623 Berlin
T +49 (0) 30 40 363 47 - 0
F +49 (0) 30 40 363 47 99
E-Mail: sven.annutsch@gateway-re.de