Gateway Real Estate AG / Key word(s): Forecast/Real Estate
Frankfurt am Main, 28 October 2020. Gateway Real Estate AG ("Gateway" - WKN A0JJTG / ISIN DE000A0JJTG7) issues its qualified forecast for fiscal year 2020. While Gateway assumes that the fiscal year 2020 will be negatively affected by the ongoing COVID-19 pandemic, 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 also for its own portfolio (build-to-hold) in the residential property development division in the future. In the context of the extended corporate strategy, Gateway strives to enhance residential real estate development in order to maintain a long-lasting administration and holding.
1) EBIT adjusted: Operating income plus income from investments accounted for using the equity method.
28-Oct-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Gateway Real Estate AG
THE SQUAIRE - Zugang N°15,Am Flughafen 1
+49 (0) 69 788 088 00 -0
+49 (0) 69 788 088 00 - 99
Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart
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