Adler Group jumps on guidance confirmation, Q1 beat

Adler SA

31/05/2022 07:43

** Adler Group  ADJ.DE  shares rise 11.1% in early Frankfurt
trade as the German real estate group released its first quarter
results and confirmed its guidance for the 2022 financial year
    ** Adler Group reported a quarterly net rental income at EUR
71.1 mln ($76.40 million) urn:newsml:reuters.com:*:nFWN2XM0CP
    ** It further confirmed the 2022 outlook, targeting a net
rental income within the range of EUR 203 mln to EUR 212 mln as
well as an FFO 1 within the range of EUR 73 mln to EUR 76 mln
    ** "Shares jumped after-hours on report. In the end, the
question remains is these figures are reliable" a local trader
commented, referring to KPMG auditors' refusal to issue an audit
certificate for the 2021 annual financial statements 
    ** On April 30 the co said all members of its board of
directors had offered to resign with immediate effect, after an
auditor declined to give an opinion on the company's financial
statements  urn:newsml:reuters.com:*:nL3N2WS0DJ, urn:newsml:reuters.com:*:nFWN2WS001, urn:newsml:reuters.com:*:nL5N2WU10Y
    ** Adler Group shares are on top of Germany's smallcaps
index  .SDAXI  in early Frankfurt trade
    ** Stock is down 58.72% YTD


($1 = 0.9307 euros)

 (Reporting by Tristan Chabba)
 ((Tristan.chabba@thomsonreuters.com))