Essen, 5 March 2019: Listed residential developer Instone Real Estate looks confidently to the future based on the successful development of the 2018 financial year and has published its outlook for the current financial year. As expected, the management board therefore assumes continued growth and, for 2019, anticipates the following positive development:
- Adjusted revenues: EUR 500 - 550 million
- Adjusted gross profit margin: around 28 %
- Adjusted EBIT: EUR 85 - 100 million
- Volume of concluded sales contracts: EUR 450 - 550 million
Kruno Crepulja, CEO of Instone Real Estate: "We can look back on a successful financial year 2018. For 2019, we are excellently positioned based not least on our well-filled project pipeline. In light of this and due to the anticipated progress on projects and successful sales, our forecast for the current financial year is commensurately positive as expected."
Instone Real Estate yesterday announced to the capital market the expected results for the 2018 financial year based on preliminary, unaudited figures. Adjusted consolidated earnings before tax (adjusted EBT) are higher than previously anticipated and expected to be between approx. EUR 41 million and EUR 42 million (previous forecast: EUR 32 million and EUR 37 million). According to the management board, the gross profit margin is expected to be above 28 % and thus significantly exceeding the outlook for the year 2018 of around 24 %.
Moreover, the management board of Instone Real Estate Group AG anticipates the following preliminary results at group level for the 2018 financial year:
- Adjusted revenues: EUR 370 - 375 million
- Adjusted EBIT: EUR 49 - 50 million
- Adjusted earnings after tax: EUR 18.5 – 19.5 million
- Volume of concluded sales contracts: approx. EUR 460 million
The preliminary earnings figures include approximately EUR 5 million in extraordinary expenses, without which the earnings figures are correspondingly better. These include, amongst others, expenses indirectly effected by the going public as well as caused by the evaluation of a corporate transaction.
In addition to the satisfactory business development, the positive development of the adjusted consolidated EBT is also based on an optimization of the financing structure, which enabled improved financial results. However, adjusted earnings after tax are influenced by the reversal of deferred taxes, which results in a higher tax rate.
The definitions of the alternative key performance indicators stated in the press release can be found in the glossary on the company's website under
Instone Real Estate
c/o RUECKERCONSULT GmbH
Phone: +49 (0)30 284498747
Fax: +49 (0)30 284498799
Instone Real Estate
Phone: +49 (0)201 45355-365
Fax: +49 (0)201 45355-904