Brief: Instone Real Estate 9-month Earnings After Tax Down 42.6% To EUR 24.9 Million

Instone Real Estate SE

26/11/2020 06:34

Nov 26 (Reuters) - Instone Real Estate Group AG  INS2.DE :
    * DGAP-NEWS: INSTONE REAL ESTATE GROUP AG: INSTONE REAL
ESTATE
PERFORMS AS PLANNED IN Q3 2020; FORECAST FOR 2020 AND 2021
REITERATED
    * ADJUSTED REVENUES FOR NINE MONTHS 2020 DOWN SLIGHTLY ON
PREVIOUS
YEAR (-3.7%) AT EUR 291.3 MILLION DESPITE NEGATIVE EFFECTS OF
COVID-19
    * EARNINGS FORECASTS FOR 2020 AND 2021 CONFIRMED: ADJUSTED
EARNINGS AFTER TAX FOR 2020: EUR 30-35 MILLION; 2021: AT LEAST
EUR 90 MILLION
    * 9-MONTH ADJUSTED EBIT FELL TO EUR 50.0 MILLION (-11.8%)
AND
ADJUSTED EBT TO EUR 34.4 MILLION (-25.4%)
    * INTENTION TO DISTRIBUTE INAUGURAL DIVIDEND FOR 2020
FINANCIAL
YEAR CONFIRMED
    * ADJUSTED EARNINGS AFTER TAX (EAT) IN FIRST THREE QUARTERS
FELL
BY 42.6% TO EUR 24.9 MILLION (PREVIOUS YEAR: EUR 43.4 MILLION)

Source text for Eikon:  ID:nEQ946pC9a 
Further company coverage:  INS2.DE 

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