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Engel & Völkers Digital Invest: Earnings forecast for full year 2022

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EV Digital Invest AG / Key word(s): Forecast
Engel & Völkers Digital Invest: Earnings forecast for full year 2022

02-Aug-2022 / 23:07 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.

AD-HOC NOTIFICATION

Engel & Völkers Digital Invest: Earnings forecast for full year 2022

Berlin, 2 August 2022. EV Digital Invest AG (ISIN: DE000A3DD6W5), operator of the online real estate investment platform "Engel & Völkers Digital Invest", expects EBIT adjusted for the costs and special accounting incomes in context of the IPO to be around -1.7 million euros in the full year 2022, according to current estimates. This is significantly better compared to the currently existing analyst estimate. In the previous period, the adjusted EBIT amounted to 0.3 million euros. Total operating income (sales and other operating income reduced by special one-off effects of the IPO) is currently expected to be in the range of 5.5 to 6.0 million euros for the full year 2022. This outlook takes into account the changed interest rate environment, challenging market conditions and the strict selection of real estate projects.

In line with the general shift of investor preferences in recent months, the Management Board has adjusted the company's growth strategy. Among other things, the start of the Ukraine war resulted in a weaker overall economic development. Whereas before, the focus was on maximizing possible growth, the primary objective in the short to medium term will now be cost-efficient and more risk-averse growth. Against this backdrop and on the basis of the half-year figures, the company expects a significantly lower increase in costs for the full year 2022 - in particular for personnel costs, marketing expenses as well as service provider and third-party costs. Overall, Engel & Völkers Digital Invest expects total operative expenses (total expenses reduced by costs and special one-off effects of the IPO) of around 7.4 million euros for the full year. This is approximately 3.2 million euros lower compared to the currently existing analyst estimate. The Management Board confirms the expectation communicated prior to the IPO that total income will develop at medium to long-term double-digit growth rates.

Furter information: www.ev-digitalinvest.de

ENGEL & VÖLKERS DIGITAL INVEST
EV Digital Invest AG
Licensed partner of Engel & Völkers Marken GmbH & Co. KG
Joachimsthaler Str. 12
10719 Berlin
www.ev-digitalinvest.de

Contact:
Kirchhoff Consult, Jan Hutterer
Borselstraße 20, 22765 Hamburg
Phone: +49 40 60 91 86 65
E-mail: ev-digitalinvest@kirchhoff.de

02-Aug-2022 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de

Language:

English

Company:

EV Digital Invest AG

Joachimsthaler Straße 10

10719 Berlin

Germany

Phone:

+49 30 403 69 15 21

E-mail:

info@ev-digitalinvest.de

Internet:

www.ev-digitalinvest.de

ISIN:

DE000A3DD6W5

WKN:

A3DD6W

Listed:

Regulated Unofficial Market in Frankfurt (Scale), Hamburg, Tradegate Exchange

EQS News ID:

1411921


 

End of Announcement

DGAP News Service

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