PTA-News: B-A-L Germany AG: Presentation of the annual accounts 2019

4/28/2020, 6:57 PM (Source: pressetext)
Meißen (pta033/28.04.2020/18:57) - The Saxon residential real estate specialist B-A-L Germany AG (ISIN A2NBN9) presented the audited figures for the 2019 financial year on 9 April. The ambitious targets for growth in floor space and turnover were exceeded.

Business news for the stock market

Meißen (pta033/28.04.2020/18:57) - The Saxon residential real estate specialist B-A-L Germany AG (ISIN A2NBN9) presented the audited figures for the 2019 financial year on 9 April. The ambitious targets for growth in floor space and turnover were exceeded.

In a year-to-year comparison, sales almost doubled to EUR 170,000 (previous year EUR 88,000 / +95%). Revenues were generated exclusively from the letting of the portfolio. The operating result (EBIT) of EUR -15,500 (previous year: EUR -3,810) was in line with expectations, and was affected by one-off expenses from the IPO and the capital measures that were carried out. The standard industry ratio FFO increased to EUR 18,000 (previous year EUR 8,000 / +216%).

The chairman of B-A-L Germany AG, Falko Zschunke, once again confirmed the targets that had already been communicated at the 2019 General Meeting. According to these targets, the growth course in terms of floor space and sales is to be vigorously pursued. Acquisition and management will continue to be carried out in a disciplined and prudent manner. With a further slight increase in the equity ratio to 79.2% (previous year 74.6%), the company is solidly financed and continues to have no credit liabilities to financial institutions. The HGB accounting standards, which prohibit the writing-up of acquisition costs, will be adhered to.

The currently foreseeable impact of the Covid-19 crisis on the business model of the company is primarily to be found in the financing of further growth via the capital market. A postponement of previously planned capital measures is conceivable. No influence on the operation of the rental business is currently discernible. However, developments will continue to be monitored.

(end)

emitter: B-A-L Germany AG
address: Poststraße 5, 01662 Meißen
country: Germany
contact person: Falko Zschunke
phone: +49 3521 459 6539
e-mail: f@bal-ag.de
website: www.bal-ag.de

ISIN(s): DE000A2NBN90 (share)
stock exchanges: Vienna MTF in Vienna
other stock exchanges: Freiverkehr in Stuttgart

[ source: http://www.pressetext.com/news/20200428033 ]