UK Markets open in 4 hrs 20 mins
  • NIKKEI 225

    26,824.46
    +390.84 (+1.48%)
     
  • HANG SENG

    26,581.94
    +240.45 (+0.91%)
     
  • CRUDE OIL

    45.00
    -0.34 (-0.75%)
     
  • GOLD FUTURES

    1,788.50
    +7.60 (+0.43%)
     
  • DOW

    29,638.64
    -271.73 (-0.91%)
     
  • BTC-GBP

    14,628.57
    +0.10 (+0.00%)
     
  • CMC Crypto 200

    383.39
    +18.79 (+5.15%)
     
  • Nasdaq

    12,198.74
    -7.11 (-0.06%)
     
  • ^FTAS

    3,542.87
    -50.81 (-1.41%)
     

Gateway Real Estate generated EBIT adjusted of EUR 32.2 million in the first nine months 2020

·3-min read

DGAP-News: Gateway Real Estate AG / Key word(s): 9 Month figures/Real Estate
13.11.2020 / 07:00
The issuer is solely responsible for the content of this announcement.

Gateway Real Estate generated EBIT adjusted of EUR 32.2 million in the first nine months 2020

Frankfurt am Main, 13 November 2020. Gateway Real Estate AG (WKN A0JJTG / ISIN DE000A0JJTG7), one of Germany's leading listed developers of commercial and residential real estate, is satisfied with the development in the first nine months despite the situation caused by covid-19 pandemic. The company generated an EBIT adjusted of EUR 32.2 million in the first nine months 2020 (9M 2019: EUR 48.7 million). Earnings before taxes (EBT) in the first nine months 2020 amounted to EUR 12.9 million (9M 2019: EUR 22.0 million). GDV (gross development volume) amounted to approximately EUR 5.4 billion at the end of September 2020.

The company confirms the forecast for fiscal year 2020, which was issued on October 28, 2020. The Management Board unchanged expects EBIT adjusted 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).

Tobias Meibom, CFO of Gateway Real Estate AG, comments: "The 9M 2020 results demonstrates, that our company is able to generate solid figures despite the current economic conditions. Despite the COVID-19 pandemic, we unchanged do not see any negative impact on the standing assets and the projects that are in the realization phase are progressing as planned at the moment. In the course of our extended corporate strategy (build-to-hold), we strive after the increased development of residential real estate for long-term holding and administration to generate sustainable earnings."


About Gateway Real Estate

Gateway Real Estate AG is a leading listed developer of commercial and residential real estate in Germany (WKN: A0JJTG / ISIN: DE000A0JJJTG7). The company has a broadly diversified portfolio, 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 5.4 billion.

Further information: https://gateway-re.de/en/


Contact

Sven Annutsch
The Squaire No. 15
60549 Frankfurt am Main
T +49 (0) 69 78808800 0
F +49 (0) 69 78 80 88 00-99
E-Mail: sven.annutsch@gateway-re.de


13.11.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de

Language:

English

Company:

Gateway Real Estate AG

THE SQUAIRE - Zugang N°15,Am Flughafen 1

60549 Frankfurt/Main

Germany

Phone:

+49 (0) 69 788 088 00 -0

Fax:

+49 (0) 69 788 088 00 - 99

E-mail:

info@gateway-re.de

Internet:

www.gateway-re.de

ISIN:

DE000A0JJTG7

WKN:

A0JJTG

Listed:

Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart

EQS News ID:

1147903


 

End of News

DGAP News Service

show this
show this