InCity Immobilien AG
ISIN: DE000A0HNF96
WKN: A0HNF9
19 September 2024 08:35AM

EQS-News: INCITY CLOSES FIRST HALF OF 2024 ACCORDING TO PLAN WITH A CONSOLIDATED LOSS AND CONFIRMS ANNUAL FORECAST

InCity Immobilien AG · ISIN: DE000A0HNF96 · EQS - Company News
Country: Germany · Primary market: Germany · EQS NID: 1990881

EQS-News: InCity Immobilien AG / Key word(s): Half Year Results
INCITY CLOSES FIRST HALF OF 2024 ACCORDING TO PLAN WITH A CONSOLIDATED LOSS AND CONFIRMS ANNUAL FORECAST

19.09.2024 / 08:35 CET/CEST
The issuer is solely responsible for the content of this announcement.


INCITY CLOSES FIRST HALF OF 2024 ACCORDING TO PLAN WITH A CONSOLIDATED LOSS AND CONFIRMS ANNUAL FORECAST
  • Semi-annual net loss of EUR 1.7 m at Group level
  • Continued solid equity ratio and financial stability
  • Net asset value (NAV) unchanged at EUR 1.30 per share as of 30 June 2024
Schönefeld, 19 September 2024 – In its semi-annual financial statements for the first six months of the current fiscal year 2024 published today, InCity Immobilien AG (“InCity AG”) reports a semi-annual net loss of EUR 1.7 m at Group level which is primarily characterised by depreciation of the property portfolio in accordance with the German Commercial Code (HGB) of approximately EUR 0.9 m and by investments in portfolio properties of approximately EUR 0.8 m. 
“The results for the first half of the year are in line with our plans and, with regard to operating business performance, we can confirm the forecast for this fiscal year that we issued as part of the annual report for 2023,” says Michael Freund, CEO of InCity Immobilien AG.

 
As of the reporting date on 30 June 2024, the InCity Group’s property portfolio was unchanged, comprising seven residential and office buildings in Berlin and Frankfurt am Main with HGB carrying amounts amounting to approximately EUR 143 m as of the reporting date (31 December 2023: about EUR 144 m). 

The InCity Group’s sales revenue in the first half of 2024 (approx. EUR 4.1 m; prior year: approx. EUR 3.7 m) was mainly attributable to income from the rental of portfolio properties (approx. EUR 3.8 m; prior year: approx. EUR 3.5 m), which was increased due to new rentals of modernised residential units and rent adjustments in particular.

Continuously high equity ratio and financial stability

The InCity Group’s equity ratio was 48.6% as of 30 June 2024 (31 December 2023: about 50.0%) and the net asset value (NAV) of InCity AG’s shares was EUR 1.30 per share as of 30 June 2024, unchanged from 31 December 2023. 

Management Board confirms forecast for fiscal year 2024

The Management Board of InCity Immobilien AG confirms its forecast for the current fiscal year 2024 that anticipates a net loss for the year between EUR -3.5 m and EUR -4.0 m in InCity’s consolidated financial statements, primarily due to HGB depreciation of around EUR 1.8 m on portfolio properties as well as investments in the portfolio. 

Contacts for enquiries:

InCity Immobilien AG
Lilienthalstraße 2   
12529 Schönefeld, Germany
www.incity.ag

Press contact
Peter Dietze-Felberg
Phone: +49 (0)30 2844987-62
presse@incity.ag

Investor relations
Michael Freund, CEO
Phone: +49 (0) 30 403 64 77-0
ir@incity.ag

About InCity Immobilien AG
As a multi-disciplinary real estate company, InCity Immobilien AG (referred to in the following as InCity AG) is dedicated to creating and increasing the value of property portfolios and operates in the fields of asset management and project development. For its property portfolio, InCity AG focuses on the real estate markets of the two major cities Berlin and Frankfurt am Main and pursues a sustainable investment strategy. The decisive factors here are location, property quality and long-term value stability. Accordingly, the portfolio consists of high quality core properties with value stability in Berlin as well as properties in locations in Frankfurt that are attractive in the long term with investment volumes between EUR 5 m and EUR 50 m. In addition, InCity AG assumes comprehensive and individually developed asset management contracts for third parties. InCity AG significantly strengthened its project development business unit in July 2021 by undertaking a contract, as a general contractor, for the construction of a new office property in the immediate vicinity of the Berlin-Brandenburg (BER) airport, as well as adding its own project development activities.
Visit the website for further information about the company: www.incity.ag


19.09.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com


Language: English
Company: InCity Immobilien AG
Lilienthalstraße 2
12529 Schönefeld
Germany
Phone: IR: +49 (0) 30 4036477 0 PR: +49 (0) 30 2844987 62
Fax: +49 (0) 30 403 647 790
E-mail: ir@incity.ag
Internet: www.incity.ag
ISIN: DE000A0HNF96
WKN: A0HNF9
Listed: Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Basic Board), Hamburg, Stuttgart, Tradegate Exchange
EQS News ID: 1990881

 
End of News EQS News Service

1990881  19.09.2024 CET/CEST

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Boersengefluester.de (BGFL) provides an overview of the key figures on sales, earnings, cash flow and dividends to help you better assess the fundamental development of the respective companies. All information is entered manually in our database - the source is the respective annual reports. All estimates for future figures are provided by BGFL.

The most important financial data at a glance
  2018 2019 2020 2021 2022 2023 2024e
Sales1 10,78 8,65 6,58 7,53 7,70 36,36 0,00
EBITDA1,2 3,21 1,91 6,54 5,50 2,61 0,69 0,00
EBITDA-Margin3 29,78 22,08 99,39 73,04 33,90 1,90 0,00
EBIT1,4 0,83 0,07 4,57 3,01 -1,09 -4,37 0,00
EBIT-Margin5 7,70 0,81 69,45 39,97 -14,16 -12,02 0,00
Net Profit (Loss)1 -0,45 -1,88 2,43 1,01 -2,86 -6,05 -3,80
Net-Margin6 -4,17 -21,73 36,93 13,41 -37,14 -16,64 0,00
Cashflow1,7 9,88 1,53 2,83 2,76 3,57 1,28 0,00
Earnings per share8 -0,01 -0,02 0,03 0,01 -0,03 -0,07 -0,04
Dividend per share8 0,00 0,00 0,00 0,00 0,00 0,00 0,00
Quelle: boersengefluester.de and Company information
Explanation

1 in Mio. Euro; 2 EBITDA = Earnings before interest, taxes, depreciation and amortisation; 3 EBITDA in relation to sales; 4 EBIT = Earnings before interest and taxes; 5 EBIT in relation to sales; 6 Net profit (-loss) in relation to sales; 7 Cashflow from operations; 8 in Euro; Source: boersengefluester.de

Auditor: Ernst & Young

All relevant valuation ratios, dates and other investor information on your share at a glance. Good to know: All data comes from boersengefluester.de and is updated daily. This means you are always up to date. You can get brief explanations of the key figures by moving the cursor or mouse over the relevant field.

INVESTOR-INFORMATION
©boersengefluester.de
InCity Immobilien
WKN ISIN Legal Type Marketcap IPO Recommendation Plus Code
A0HNF9 DE000A0HNF96 AG 52,46 Mio € 26.03.2007 9F4M9H86+64
* * *
PE 2025e PE 10Y-Ø BGFL-Ratio Shiller-PE PB PCF KUV
30,50 39,33 0,78 -15,25 0,67 41,11 1,44
Dividends
Dividend '2022
in €
Dividend '2023
in €
Dividend '2024e
in €
Div.-Yield '2024e
in %
0,00 0,00 0,00 0,00%
Financial calendar
Annual General Meeting Q1-figures Q2-figures Q3-figures Annual press conference
29.08.2024 19.09.2024 25.04.2024
Performance
Distance 60-days-line Distance 200-days-line Performance YtD Performance 52 weeks IPO
Last Price (EoD)
+1,67%
0,61 €
ATH 12,08 €
-12,86% -34,41% -50,41% -51,20% -93,41%

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