Brief: Atenor Expects Return To Normal Pace Of Project Sales As From Early 2024

Atenor SA

17/05/2023 17:25

May 17 (Reuters) - Atenor SA  ATEO.BR :
    * INTERIM STATEMENT FOR Q1 2023 AND UPDATE
    * 2023 RESIDENTIAL SALES TARGET: 360 APARTMENTS (STATU QUO
VERSUS.
2022)
    * RESETTING THE OPTIONAL DIVIDEND
    * WIDESPREAD REAL ESTATE CRISIS PERSISTS WHICH HAS RESULTED
IN A
SLOWER PACE OF SALES IN WHICH ATENOR IS EQUALLY AFFECTED
    * EXPECTS A RETURN TO A NORMAL PACE OF PROJECT SALES AS FROM
EARLY
2024
    * IT IS PREMATURE AT THIS STAGE TO GIVE FORECASTS FOR THE
CONSOLIDATED PROFIT OR LOSS FOR THE 2023 FINANCIAL YEAR
    * INTENDS TO SELL SOME PROJECTS (AROUND 10% OF THE PORTFOLIO
IN
TERMS OF SURFACE AREA) BENEFITING FROM AN ADVANCED (PRE-)LEASE
RATE, UNDER CURRENT MARKET CONDITIONS
    * ENVISAGES BY H1 2023, LEASES FOR A TOTAL AREA OF AROUND
25,000
M² ACROSS POLAND, HUNGARY AND ROMANIA TO BE SIGNED
    * 2023 RESULTS WILL BE POTENTIALLY IMPACTED BY THE EFFECTS
OF THE
PERSISTENT REAL ESTATE CRISIS AND THUS, APPROPRIATE ACTIONS
TAKEN IN THIS RESPECT
    * 2024 OUTLOOK: BACK TO A NORMAL PACE OF PROJECT SALES,
DRIVEN IN
PARTICULAR BY THE SALE FINALISATIONS OF THE CONFERENCE CENTRE
(REALEX) IN BRUSSELS, APARTMENTS IN BUCHAREST (UP-SITE) AND IN
BELVAL, LUXEMBOURG, THE SALE OR POSSIBLE EXERCISE OF A PURCHASE
OPTION BY THE LUXEMBOURG STATE (TWIST)


Further company coverage:  ATEO.BR 

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