Accentro sees no negative impact from expropriation discussions

08/08/2019

Accentro Real Estate, the privatization specialist active primarily in Berlin, confirms its forecast for the year. However, revenue and profit fell massively in H1, due to the sale of the Gehrensee portfolio pushing up the previous year’s figures. Consolidated revenue now amounts to €34.5mn, after €97.9mn in H1 2018. Consolidated profit sank from €5.7mn to €2.9mn and EBIT from €14.4mn to €6.6mn. In March, Accentro’s target for 2019 was the previous year’s revenue (€163.3mn, excluding the Gehrensee deal) and the previous year’s EBIT of €32.8mn. The company does not expect any negative effects from the political situation in Berlin. Accentro founder and board member Jacopo Mingazzini says that the current political environment is not exactly conducive to promoting investor confidence, but “at the moment, interest in buying condominiums has not slowed noticeably – in fact just the opposite.”


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