Noratis AG
ISIN: DE000A2E4MK4
WKN: A2E4MK
30 September 2024 08:30AM

EQS-News: Noratis AG publishes figures as of June 30, 2024

Noratis AG · ISIN: DE000A2E4MK4 · EQS - Company News
Country: Germany · Primary market: Germany · EQS NID: 1997935

EQS-News: Noratis AG / Key word(s): Half Year Results
Noratis AG publishes figures as of June 30, 2024

30.09.2024 / 08:30 CET/CEST
The issuer is solely responsible for the content of this announcement.


Noratis AG publishes figures as of June 30, 2024

2nd creditors' meeting for the 2020/2025 bond on October 8, 2024

Eschborn, September 30, 2024 - Noratis AG (share: ISIN: DE000A2E4MK4 / WKN: A2E4MK), a leading portfolio developer of residential real estate in Germany, has closed the first half of 2024 in line with the preliminary figures published on August 14, 2024. According to IFRS, earnings before interest and taxes (EBIT) amounted to EUR -17.2 million, compared to EUR 2.6 million in the first half of 2023. Earnings before taxes (EBT) amounted to EUR -24.9 million, compared to EUR -4.4 million in the same period of the previous year.

The significant deterioration compared to the previous year is the result of earnings-relevant but non-cash write-downs based on the property values determined as of June 30, 2024 in the amount of EUR 19.6 million as well as significantly lower proceeds from the sale of properties due to the low transaction activity on the real estate market. Noratis AG was only able to sell 68 units in the reporting period, after 176 units in the first half of 2023. No acquisitions were made. With a property portfolio that had fallen to 4,197 units as of June 30, 2024 after 4,390 units a year earlier, rental income still increased. This rose to EUR 16.0 million, up from EUR 15.6 million, due to the continued high demand for residential space in Germany and the company's increased asset management activities. For the full year 2024, Noratis AG assumes a clearly negative EBIT and EBT.

The half-year report 2024 of Noratis AG is available on the website - http://www.noratis.de- in the Investor Relations section.

On October 8, 2024, the 2nd bondholders' meeting of Noratis AG for the bond 2020/2025 (ISIN DE000A3H2TV6 / WKN A3H2TV) will take place in Eschborn. As part of the restructuring, the term of the bond is to be extended until December 31, 2028 at an unchanged interest rate under the following conditions:

  • The Noratis bond 2021/2027 (ISIN DE000A3E5WP8 / WKN A3E5WP), issue volume EUR 10 million, held by one creditor, must be extended until December 31, 2029 under unchanged conditions.
  • In addition, the capital increase of at least EUR 10 million announced by anchor shareholder Merz Real Estate must be carried out.

Furthermore, e.Anleihe GmbH, Stuttgart, is to be appointed as the joint representative of all bondholders. The 2nd bondholders' meeting is quorate if at least 25% of the outstanding bond is represented.

The proposed extension of the maturities is intended to give Noratis AG more flexibility in order to be able to realize the real estate sales necessary for the repayment of the bonds without short-term time pressure. Furthermore, the anchor shareholder Merz Real Estate has declared the proposed extensions of the bonds at an unchanged interest rate as an essential condition with regard to a further capital increase of up to EUR 16 million after 2024. The planned extension of the term and the associated greater flexibility in the planned sales of real estate portfolios in combination with the planned capital increases secures substance in Noratis AG and thus also the repayment of the bonds after the extension.

Schutzgemeinschaft der Kapitalanleger e.V. (SdK) recommends approval of the restructuring of the corporate bonds.

Bondholders are requested to attend the meeting. Registration by post (Noratis AG, c/o Computershare Operations Center, 80249 Munich) or by e-mail to noratis@computershare.de is also required for the 2nd bondholders' meeting. Investors also require a “special proof and blocking notice” for participation, which must be requested from the custodian bank. A corresponding sample form is available on the Noratis AG website at https://noratis.de/investor-relations/ in the “Bondholders' Meeting” section, as is a proxy form with instructions to the company's proxies in the event that bondholders are unable to attend in person in Eschborn.

Further information on the creditors' meeting can be found at https://noratis.de/investor-relations/.

About Noratis:

Noratis AG (www.noratis.de) (ISIN: DE000A2E4MK4, WKN: A2E4MK, “Noratis”) is a leading portfolio developer of residential properties in Germany. The company identifies and realizes potentials for tenants and investors, thereby creating and preserving attractive and at the same time affordable living space throughout Germany. Noratis specializes in the upgrading of ageing residential portfolios, mostly company-owned apartments, residential areas, or housing estates in cities with more than 10,000 inhabitants and in peripheral areas of conurbations. After a successful development, the properties remain in the company's portfolio or are sold in the medium term to investors and/or individually to existing tenants, capital investors and owner-occupiers. In this way, Noratis creates a noticeable and sustainable added value for all stakeholders: Investors/shareholders, buyers/sellers, service providers, employees through to current and future tenants. Noratis AG is listed on the Frankfurt Stock Exchange.

Contact for bondholders:

IR.on AG

Jonas Schneider, Fabian Kirchmann

Tel: 0221/91 40 97-33

E-Mail: agv24@noratis.de

 

Investor & Public Relations Contact:

edicto GmbH

Dr. Sönke Knop

+49 (0)69 905 505 51

noratis@edicto.de

Eschersheimer Landstraße 42

60322 Frankfurt am Main



30.09.2024 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: Noratis AG
Hauptstraße 129
65760 Eschborn
Germany
Phone: +49 (0) 69 / 170 77 68 20
E-mail: info@noratis.de
Internet: www.noratis.de
ISIN: DE000A2E4MK4
WKN: A2E4MK
Indices: Scale 30
Listed: Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Scale), Hamburg, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 1997935

 
End of News EQS News Service

1997935  30.09.2024 CET/CEST

fncls.ssp?fn=show_t_gif&application_id=1997935&application_name=news&site_id=boersengefluester~~~ace3d64b-2049-452a-8d18-fbc8044c4b5f

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 56,12 75,95 28,70 73,60 85,61 60,18 63,00
EBITDA1,2 15,72 15,95 8,63 16,29 12,98 4,08 0,00
EBITDA-Margin3 28,01 21,00 30,07 22,13 15,16 6,78 0,00
EBIT1,4 15,55 15,76 8,21 19,36 12,50 3,55 0,80
EBIT-Margin5 27,71 20,75 28,61 26,30 14,60 5,90 1,27
Net Profit (Loss)1 9,27 8,67 2,80 9,54 8,28 -10,99 -12,00
Net-Margin6 16,52 11,42 9,76 12,96 9,67 -18,26 -19,05
Cashflow1,7 -0,09 -18,36 -94,05 -70,10 -33,03 22,91 0,00
Earnings per share8 2,57 2,40 0,58 1,97 1,71 -2,21 -4,50
Dividend per share8 1,30 0,80 0,50 0,55 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: RGT Treuhand

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
Noratis
WKN ISIN Legal Type Marketcap IPO Recommendation Plus Code
A2E4MK DE000A2E4MK4 AG 25,04 Mio € 30.06.2017 Verkaufen 9F2C4HW5+86
* * *
PE 2025e PE 10Y-Ø BGFL-Ratio Shiller-PE PB PCF KUV
11,21 12,29 0,91 2,21 0,42 1,09 0,42
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
09.07.2024 30.09.2024 27.05.2024
Performance
Distance 60-days-line Distance 200-days-line Performance YtD Performance 52 weeks IPO
Last Price (EoD)
-3,09%
1,57 €
ATH 29,20 €
-12,49% -52,47% -75,85% -79,48% -91,63%

Advertising is an important revenue channel for us. But we understand, that sometimes it becomes annoying. If you want to reduce the number of shown ADs just simply login to your useraccount and manage the settings from there. As registered user you get even more benefits.
          Qualitätsjournalismus · Made in Germany © 2024          
The news manufactory

Good luck with all your investments

Founded in 2013 by Gereon Kruse, the financial portal boersengefluester.de is all about German shares - with a clear focus on second-line stocks. In addition to traditional editorial articles, the site stands out in particular thanks to a large number of self-developed analysis tools. All tools are based on a completely self-maintained database for more than 650 shares. As a result, boersengefluester.de produces Germany's largest profit and dividend forecast.

Contact

Idea & concept: 3R Technologies   
boersengefluester.de GmbH Copyright © 2024 by Gereon Kruse #BGFL