DGAP-News: Noratis AG / Key word(s): Preliminary Results/Real Estate
Noratis AG 2018 with record profit and dividend proposal of EUR 1.30
- EBIT increases to EUR 15.6 million after EUR 15.2 million in 2017
- Earnings before taxes at EUR 12.8 million after EUR 12.2 million during the previous year
- Real estate portfolio expanded to around EUR 176 million
- Forecast 2019: Continuation of the positive business development; EBIT and EBT expected on the level of the two previous years
Eschborn, 02 April 2019 - Noratis AG (ISIN: DE000A2E4MK4, WKN: A2E4MK, "Noratis"), a leading real estate company focussing on the development of existing residential property, has closed fiscal 2018 according to provisional, unaudited figures as expected with a record profit. Earnings before interest and taxes (EBIT) improved to EUR 15.6 million after EUR 15.2 million in 2017. Earnings before taxes (EBT) rose to EUR 12.8 million after EUR 12.2 million during the previous year. Noratis AG has likewise reached the goal of significantly expanding its real estate portfolio in 2018. At the end of 2018 the portfolio was at around EUR 176 million after EUR 99.2 million a year before.
For 2018 the Supervisory Board and the Management Board will propose to the general meeting to pay a dividend of EUR 1.30 per share based on the share capital increased last year. This corresponds to the dividend policy of the company according to which half of earnings after taxes are to be distributed. During the past fiscal year earnings after taxes improved from EUR 8.6 million to EUR 9.3 million.
For 2019 Noratis AG assumes that the positive business development will continue and expects for both EBIT and EBT a result on the high level of the last two years.
The Annual Report 2018 will probably be published on 30 April 2019 and will then be available for downloading on the website www.noratis.de in the Investor Relations section.
Noratis AG (www.noratis.de) ") is a leading real estate company focussing on the development of existing residential property in Germany. The basis of its business model is the high supply of existing residential properties with development needs as a result of ongoing ageing, which meets an equally robust demand for affordable housing. Noratis acquires apartments with development potential across Germany, mostly company-owned apartments, urban districts or housing estates from the 1950s to the 1970s in cities from 10,000 inhabitants onwards as well as in peripheral locations of conurbations. The expert knowledge of Noratis in purchasing portfolios with value potential and comprehensive development competency establish the basis for a high-growth, profitable corporate development. The business model is characterised by the combination of ongoing, stable rental income with attractive developer returns from continuous sales revenues. The success of Noratis is driven by the taking into account of the interests of all stakeholders, from investors, employees and financing partners to tenants.
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02.04.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
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