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DGAP-Adhoc: Instone Real Estate Group AG: Forecast upgrade for FY 2019

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DGAP-Ad-hoc: Instone Real Estate Group AG / Key word(s): Real Estate/Change
in Forecast
Instone Real Estate Group AG: Forecast upgrade for FY 2019

16-Sep-2019 / 21:07 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.

*Instone Real Estate Group AG: Forecast upgrade for FY 2019*

Essen, 16 September 2019. Instone Real Estate Group AG raises its
projection** for FY 2019.

The Management Board now expects financial year 2019 adjusted revenues* of
between EUR 700 million and EUR 750 million and adjusted Group earnings
before interest and taxes (EBIT)* between EUR 110 million and EUR 125
million, exceeding the previous forecast.

Most recently, in the half year financial statement 2019 of the company, the
Management Board had assumed adjusted revenues of between EUR 500 million
and EUR 550 million and adjusted Group earnings before interest and taxes of
between EUR 85 million and EUR 100 million.

The adjusted forecast is based on the Management Board's expectation that
(i) the purchase agreement for a large property in a German metropolitan
region already concluded at the end of last year under a condition
precedent, which the company had communicated on 13 December 2018 via
ad-hoc-notification, will become unconditional and effective in the current
financial year, and (ii), the recently agreed sale of the relevant property
to an institutional investor in the form of a share deal** with an expected
sales volume of around EUR 600 million for the entire 1,200 or more
residential units expected to be built will also become effective in the
current financial year.

Against this backdrop, the Management Board also expects the financial year
2019 sales volume to exceed EUR 1.1 bn, significantly above the initial
forecast of between EUR 450 million and EUR 550 million. As a result, the
threshold of more than one billion euros of sales volume is expected to be
exceeded already in the 2019 financial year for the first time.

Also, in consideration of the expected margin of the share deal the
Management Board has lowered the adjusted gross profit margin* forecast for
the current financial year from around 28 % to around 24 %. Excluding the
share deal, the expected adjusted gross profit margin for the 2019 financial
year would remain unchanged at about 28 %.

__________________________________________________________________________

* The definitions of alternative performance measures mentioned in the
notification can be found in the glossary on the company's website under
http://ir.de.instone.de/websites/instonereal/English/3400/glossary.html [1].

** Revenue recognition under Instone Group's adjusted results of operations,
which is the basis of the Company's forecast, will continue to reflect share
deals and asset deals in the same way, i.e. equivalent to the requirements
stipulated in IFRS 15 irrespective of an expected IFRS IC decision to
exclude share deals from revenue recognition over time in accordance with
IFRS 15.

*contact*

Instone Real Estate Group AG
Investor Relations
Thomas Eisenlohr
Grugaplatz 2-4
45131 Essen
Tel.: +49 (0)201 45355-365
Fax: +49 (0)201 45355-904
E-Mail: thomas.eisenlohr@instone.de

16-Sep-2019 CET/CEST The DGAP Distribution Services include Regulatory
Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de
Language: English
Company: Instone Real Estate Group AG
Grugaplatz 2-4
45131 Essen
Germany
Phone: +49 201 453 550
E-mail: ir@instone.de
Internet: www.instone.de
ISIN: DE000A2NBX80
WKN: A2NBX8
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart,
Tradegate Exchange
EQS News ID: 874479

End of Announcement DGAP News Service

874479 16-Sep-2019 CET/CEST


1: https://link.cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=aeef51901f39c4de412adca2bacbc36a&application_id=874479&site_id=vwd&application_name=news


(END) Dow Jones Newswires

September 16, 2019 15:07 ET ( 19:07 GMT)
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