Consus improves adjusted EBITDA – loss on the bottom line
Consus Real Estate achieved revenue of €118.4mn in Q1 with EBITDA of €26.9mn, or €46.1mn EBITDA adjusted for purchase price allocations and one-off effects. The adjusted annual figure is significantly higher than last year’s (€40mn). However, period earnings after taxes dropped to -€9.9mn (previously +€4.9mn), because financial expenditures rose from €26,1mn to €51.4mn due to the takeover of SSN Group. Until 2020 Consus is still planning with an adjusted EBITDA of €450mn. For the medium term, net liabilities in relation to adjusted EBITDA are to decline to about three times the figure, from currently 8.3 times. This past quarter, net liabilities increased slightly from €2.104bn to €2.171bn. The ratio of net financial liabilities to gross market value is 71 %.
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