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Instone Real Estate Group SE: New forecast for the financial year 2022

Instone Real Estate Group SE / Key word(s): Forecast
Instone Real Estate Group SE: New forecast for the financial year 2022

10-Aug-2022 / 18:50 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.


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.


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Language: English
Company: Instone Real Estate Group SE
Grugaplatz 2-4
45131 Essen
Germany
Phone: +49 201 453 550
E-mail: Investorrelations@instone.de
Internet: www.instone.de
ISIN: DE000A2NBX80
WKN: A2NBX8
Indices: SDAX
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 1417963

 
End of Announcement DGAP News Service

1417963  10-Aug-2022 CET/CEST

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