December 3, 2021
PREOS Global Office Real Estate & Technology AG publishes semi-annual figures 2021
Frankfurt/ Main, 03.12.2021 – PREOS Global Office Real Estate & Technology AG ("PREOS", ISIN DE000A2LQ850) reports a result after taxes of EUR -0.76 million in the individual financial statements in accordance with the German Commercial Code (HGB) in the first half of 2021. The result according to IFRS accounting was EUR 30.9 million in the same period of the previous year. The 2021 result was significantly influenced by the constraints of the COVID 19 pandemic. Equity amounted to EUR 441.8 million on the balance sheet date of 30 June 2021, compared to EUR 442.5 million at the end of 2020.
Despite the continuing challenges posed by the pandemic in the first six months of the year, PREOS successfully concluded a number of transactions. PREOS was able to conclude a long-term lease extension with the Max Planck Institute for the WestendCarree office property in Frankfurt/Main. In April 2021, PREOS successfully sold WestendCarree to the French investment group Ardian.
Through the intended investment of a new PREOS majority shareholder (see ad hoc announcement of 19 October 2021), PREOS expects to be able to significantly expand its real estate portfolio. PREOS plans to expand its real estate portfolio by adding properties with a total market value of at least EUR 3 billion by the end of 2023. Thus, PREOS intends to further position itself as a high-growth portfolio holder in the European office property market.
Frederik Mehlitz, CEO of PREOS: "The successful transactions in the reporting period emphasise the attractiveness of office properties in prime locations. We believe that we are well-equipped for the future, also due to the planned participation of the new shareholder, to advance our growth and internationalisation strategy. Our focus shall remain on digitally top-equipped and sustainable properties."
The PREOS semi-annual financial statements according to HGB accounting standards are available under the following link:
Financial Press and Investor Relations:
Axel Mühlhaus/ Svenja Liebig
Phone: +49 69 905505-56
About PREOS Global Office Real Estate & Technology AG
PREOS Real Estate & Technology AG ("PREOS") is an active real estate investor focused on office properties. PREOS acts as an efficient management holding company. The acquisition focuses on office properties with development potential in German metropolitan regions. Value creation is generated by targeted asset management measures. Developed portfolio properties are sold in the event of adequate sales opportunities. The corporate strategy is to significantly expand the real estate portfolio through acquisitions in the coming years. The PREOS share (ISIN DE000A2LQ850) is listed in the over-the-counter segment m:access of the Munich Stock Exchange (PAG.MU) and on Xetra (PAG.DE). The company headquarters of PREOS is located in Frankfurt/ Main.