DGAP-Adhoc: Gateway Real Estate AG announces forecast for the fiscal year 2020 and expects EBIT adjusted of more than EUR 137 million and EBT of more than EUR 110 million. In the future Gateway also develops residential real estate for its own portfolio

2020. október 28., szerda, 16:50





DGAP-Ad-hoc: Gateway Real Estate AG / Key word(s): Forecast/Real Estate


Gateway Real Estate AG announces forecast for the fiscal year 2020 and expects EBIT adjusted of more than EUR 137 million and EBT of more than EUR 110 million. In the future Gateway also develops residential real estate for its own portfolio


28-Oct-2020 / 16:50 CET/CEST


Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.


The issuer is solely responsible for the content of this announcement.



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.



Contact

Sven Annutsch

The Squaire No. 15, Am Flughafen

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










28-Oct-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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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: 1143698





 
End of Announcement DGAP News Service



1143698  28-Oct-2020 CET/CEST







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