News

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.

Investor Relations
Instone Real Estate
Burkhard Sawazki
Grugaplatz 2-4, 45131 Essen
Tel.: +49 (0)201 45355-137
E-Mail: burkhard.sawazki@instone.de

Forward-Looking Statements
Certain statements contained in this release may constitute "forward-looking statements" that involve a number of risks and uncertainties. Forward-looking statements are generally identifiable by the use of the words "may", "will", "should", "plan", "expect", "anticipate", "estimate", "believe", "intend", "project", "goal" or "target" or the negative of these words or other variations on these words or comparable terminology. Forward-looking statements are based on assumptions, forecasts, estimates, projections, opinions or plans that are inherently subject to significant risks, as well as uncertainties and contingencies that are subject to change. The forward-looking statements speak only as of the date of this release. No representation is made or will be made by Instone that any forward-looking statement will be achieved or will prove to be correct. The actual future business, financial position, results of operations and prospects may differ materially from those projected or forecast in the forward-looking statements. Instone does not assume any obligation to update, and does not expect to publicly update, or publicly revise, any forward-looking statements or other information contained in this release, whether as a result of new information, future events or otherwise, except as otherwise required by law.