DGAP-News: Gateway Real Estate AG / Key word(s): Annual Results/Real Estate
Gateway Real Estate achieves excellent business figures with an EBIT adjusted of EUR 142.4 million in the coronavirus year 2020
- EBIT adjusted reached EUR 142.4 million in the fiscal year 2020
- Earnings before taxes (EBT) amounted to EUR 116.7 million in the fiscal year 2020
- Current GDV (gross development volume) amounted to approximately EUR 5.3 billion
Berlin, 30 April 2021. Gateway Real Estate AG (WKN A0JJTG / ISIN DE000A0JJTG7), one of Germany's leading listed developers of residential real estate, published its consolidated financial statements for the 2020 financial year today.
The company delivered an outstanding performance in the coronavirus year 2020 and successfully met its communicated full-year guidance for fiscal 2020. Thus, in the past fiscal year 2020, the company generated an EBIT adjusted of EUR 142.4 million (previous year: EUR 158.9 million) and earnings before taxes (EBT) of EUR 116.7 million (previous year: EUR 131.8 million). GDV (gross development volume) amounted to approximately EUR 5.3 billion at the end of March 2021.
Tobias Meibom, CFO of Gateway Real Estate AG, comments: "The figures of the fiscal year 2020 demonstrate, that our company is able to generate very good figures and successfully met our forecast communicated for the full fiscal year 2020 despite the current COVID-19 pandemic and the long-lasting effects on economic life. By our current GDV as well as further planned acquisitions of new projects and the focus on residential properties we are crisis-proof and profitably positioned for the future."
About Gateway Real Estate
Gateway Real Estate AG is a leading listed developer of residential real estate in Germany (WKN: A0JJTG / ISIN: DE000A0JJJTG7). The company has a portfolio in Germany's Top 7 cities and in selected high-growth regions, 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 approximately EUR 5.3 billion.
Further information: https://gateway-re.de/en/
30.04.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
Gateway Real Estate AG
+49 (0) 30 40 363 47 - 0
+49 (0) 30 40 363 47 99
Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart
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