Detail

Frankfurt am Main, 28 October 2020. Gateway Real Estate AG ("Gateway" - WKN A0JJTG / ISIN DE000A0JJTG7) issues its qualified forecast for fiscal year 2020. The management board expects EBIT adjusted¹⁾ of more than EUR 137 million (previous year: EUR 158.9 million) and earnings before taxes (EBT) of more than EUR 110 million (previous year: EUR 131.8 million) for the fiscal year 2020.

The management board decided following the consultancy with the supervisory board to build residential real estate also for its own portfolio (build-to-hold) in the future. In the context of the extended corporate strategy, Gateway strives after the increased development of residential real estate for long-term holding and administration to generate sustainable earnings. Accordingly, the standing asset segment will be further extended in the medium-term.

Tobias Meibom, CFO of Gateway Real Estate AG, comments: "The residential real estate market has turned out to be very solid during the COVID-19 pandemic. We have a wide range for our future standing asset portfolio by our attractive development projects."

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

About Gateway Real Estate
Gateway Real Estate AG is a leading listed developer of commercial and residential real estate in Germany (WKN: A0JJTG / ISIN: DE000A0JJJTG7). The company has a broadly diversified portfolio, excellent market access and a well-filled project pipeline. This way, the company achieves sustainable and profitable growth. The Group is currently developing real estate with an estimated gross development volume (GDV) of more than EUR 5 billion.

Further information: https://gateway-re.de/en/

Contact
Sven Annutsch
The Squaire No. 15
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