Instone: Adjusted earnings exceed forecast

05/03/2019

Housing developer Instone Real Estate exceeded its business forecast for last year. According to preliminary figures, pre-tax group earnings adjusted for purchase price allocations and one-off effects were between €41mn and €42mn, clearly exceeding the forecast of €32mn to €37mn. After taxes, €18.5 to €19.5mn remained, due to a tax effect. To date, the company has not released non-adjusted earnings figures for 2018. For the first nine months, losses of €1.6mn before and €10.5mn after taxes were recorded. The adjusted annual revenue came to between €370mn and €375mn, adjusted EBIT was €49mn to €50mn. For 2019, the executive board is forecasting an increase to €500mn to €550mn (revenue) and €85mn to €100mn (EBIT).


TD Premium

Subscribers to our premium service have access to this article in full as well as to an additional 480,000+ news items: all filterable by topic, company, asset class, city or keyword. In TD Premium you can search for investment deals, leases, current project developments and company news with pinpoint accuracy.

TD Premium is Germany's leading property information tool that interconnects news, transactions, project data, market and company information in a unique and flexible system.