Press release
Gateway Real Estate with record earnings in 2019 and volume of sales contracts of around EUR 1 billion
The final results confirm the strong operating performance in 2019.
- EBIT adjusted in 2019 increased by around 117% to EUR 158.9 million
- Profit after tax in 2019 reached EUR 127.0 million (previous year: EUR 33.2 million) and correspond to earnings per share of 0.69 EUR
- Volume of sales contracts reached around EUR 1 billion in the past fiscal year
- Dividend is planned to be increased to EUR 0.30 per dividend-entitled share
- Company forecast for 2019 was considerably outperformed
Frankfurt am Main, 30 March 2020. Gateway Real Estate AG (WKN A0JJTG / ISIN DE000A0JJTG7), one of Germany's leading listed developers of commercial real estate, achieved record results for the last fiscal year 2019. Manfred Hillenbrand, CEO der Gateway Real Estate AG, comments: "The final results for fiscal year 2019 show the strong operating performance of our company and confirm the very positive company development."
The company continues its dynamic growth course and generated an EBIT adjusted of EUR 158.9 million in the financial year 2019, which is an increase of approximately 117% in comparison to previous year EBIT adjusted of EUR 73.3 million.
Profit after tax in the last fiscal year 2019 amounted to EUR 127.0 million (previous year: EUR 33.2 million) and earnings per share grew to 0.69 EUR respectively (previous year: 0.22 EUR).
Management Board and Supervisory Board intent to propose a further increase in the dividend to EUR 0.30 per entitled share (previous year: EUR 0.10) at the next annual shareholder meeting.
As already communicated within the preliminary results announcement, the company has disposed of its at-equity investments and thus consistently further optimized its real estate and project development portfolio in the past fiscal year. Volume of sales contracts reached around EUR 1 billion in the past fiscal year.
The company is well positioned, and the Group's pipeline is very strong due to the targeted project acquisitions made in 2019. However, the outbreak of the corona pandemic led to radical changes in social and business life, and the current situation of the economy and the society is dominated by large uncertainties. Against this backdrop, the Management Board cannot yet finally estimate the extent and the effects of the corona pandemic on the business performance in 2020.
Like most of the companies, Gateway observes the current developments very closely at the moment, analyzes the circumstances, risks and opportunities within the framework of the implemented risk management system and manages its decisions based on the results. We will issue a forecast for 2020 as soon as this is reasonably possible.
The annual report will be published on the Gateway Real Estate website in the course of the day at the following link: https://gateway-re.de/en/investor-relations/publications/
About Gateway Real Estate
Gateway Real Estate AG is a leading listed developer of commercial real estate in Germany (WKN: A0JJTG / ISIN: DE000A0JJJTG7). The company has a broadly diversified portfolio, excellent market access and a well-filled project pipeline. In this way, the company achieves sustainable and profitable growth. The Group is currently developing real estate with an estimated gross development volume (GDV) of around EUR 5 billion.
Further information: https://gateway-re.de/en/
Contact
Sven Annutsch
The Squaire No. 15, Am Flughafen
60549 Frankfurt am Main
T +49 (0) 69 78808800 0
F +49 (0) 69 78 80 88 00-99
E-Mail: sven.annutsch@gateway-re.de
30.03.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
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