CORESTATE emphasizes its consistently positive operating performance in 2019 and the attractive growth prospects across all business areas and products in light of yesterday’s share price development.
Frankfurt, October 17, 2019 – CORESTATE Capital Holding S.A. (CORESTATE), a leading independent European real estate investment manager, emphasizes its consistently positive operating performance in 2019 and the attractive growth prospects across all business areas and products in light of yesterday’s share price development.
Lars Schnidrig, CEO CORESTATE Capital Group: “Our current and new business is running on full steam. We have gained many new institutional clients in recent weeks and, as announced, placed a large portion of our warehousing assets with investors. As a result, we have already reduced our short-term net debt by more than EUR 130 million in recent months. We also expect annual organic growth in our real estate assets under management of between 5 and 10 percent for the group in the medium term and will therefore continue our success story in 2020.”
In light of these developments, the company reconfirms its financial outlook for the full year 2019 with aggregated revenues in the range of EUR 285 million to EUR 295 million, EBITDA in the range of EUR 165 million to EUR 175 million and adjusted net profit in the range of EUR 130 million to EUR 140 million. The dividend policy also provides for a distribution of around half of the earnings per share.
About CORESTATE Capital
CORESTATE is an investment manager and co-investor with around € 28 billion in assets under management. The company sees itself as a manager for the entire length of the real estate value chain. Thanks to its fully integrated real estate platform, it is able to offer investors a wide range of services, especially the opportunity to invest in large-scale societal trends such as urbanisation, demographic shifts or sustainability – trends that will continue to have a decisive influence on the living and working environment in the long term. The consistent focus on asset classes that will be successful in the long run constitutes a central cornerstone of the company strategy. At CORESTATE, all concepts are supported with ESG expertise that is unique to the industry. With some 800 experts, CORESTATE offers clients and investors a full range of services and consultation from a single source, from project financing and real estate management to sales. CORESTATE is listed on the Frankfurt Stock Exchange (SDAX) and operates as a respected business partner for institutional and semi-institutional investors as well as high-net-worth private investors in 13 countries across Europe, with offices in Frankfurt, Vienna, Zurich, Paris, Madrid and London.
Forward-looking statements
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