Ad hoc Mitteilung
DEMIRE achieves consolidated net profit of approx. 40 million in the abbreviated 2014 financial year
Ad hoc announcement according to section 15 WpHG
- Financial statements will be published in May 2015 as a result of the Company’s strong growth and adjustment in financial year
Frankfurt/Main, 12. May 2015 – According to preliminary figures, DEMIRE Deutsche Mittelstand Real Estate AG (“DEMIRE”, ISIN DE000A0XFSF0) achieved a consolidated net profit under IFRS of approx. EUR 40 million in the abbreviated 2014 financial year (1 April 2014 to 31 December 2014), exceeding its guidance. In the previous financial year (1 April 2013 to 31 March 2014), the Company had recorded a consolidated net loss under IFRS in the amount of approximately EUR 6 million. As of 31.12.2014, the balance sheet total will amount to approximately EUR 370 million (EUR 48.4 million as of 31.03.2014). The jump in earnings resulted, among other things, from the fair value measurement of real estate acquired in the abbreviated financial year and held as investment property. As part of its growth strategy, the DEMIRE real estate group is establishing a large portfolio of commercial real estate in Germany. In the abbreviated 2014 financial year alone, DEMIRE acquired commercial real estate projects with a rentable space totalling more than 400,000 sqm. Since the closing of the acquisitions continued well beyond the balance sheet date, the consolidation of some project companies and the preparation of DEMIRE’s balance sheet have been delayed. Therefore, the Company will publish its financial statements for the abbreviated 2014 financial year in May 2015.
The Executive Board
The information in this release contains forward-looking statements that are subject to various risks and uncertainties. Such forward-looking statements are based on current forecasts, expectations and estimates of DEMIRE’s Executive Board at the time of their publications. Such statements constitute neither promises nor guarantees and are subject to various known and unknown risks and uncertainties, some of which are beyond DEMIRE’s influence. These risks and uncertainties may lead to actual results differing materially from statements that are mentioned herein. DEMIRE accepts no obligation to update or adjust the forward-looking statements contained in this release to reflect events or circumstances after the date of this release.