Brief: Instone Real Estate Group Says 9M Adjusted Ebit Decreased To Eur 60.9 Million

Instone Real Estate SE

10/11/2022 06:41

Nov 10 (Reuters) - Instone Real Estate Group Se
 INS2.DE :
    * EQS-NEWS: INSTONE REAL ESTATE GROUP SE: Q3 RESULTS IN LINE
WITH
EXPECTATIONS; NEAR TERM DE-RISKED CASH FLOW FROM UNDER
CONSTRUCTION PROJECTS >€600M; 2022 GUIDANCE CONFIRMED
    * INSTONE REAL ESTATE - 2022 FINANCIAL GUIDANCE CONFIRMED:
REVENUES (ADJUSTED) OF EUR 600 TO 675 MILLION, NET PROFIT
(ADJUSTED) OF EUR 40 TO 50 MILLION
    * IN FIRST NINE MONTHS OF 2022 FINANCIAL YEAR, ADJUSTED
REVENUES
REMAINED ABOVE PREVIOUS YEAR'S LEVEL
    * 9M ADJUSTED REVENUES OF EUR 441.9 MILLION (9M 2021: EUR
405.6
MILLION)
    * 9M EARNINGS AFTER TAX DOWN TO EUR 34.0 MILLION (9M 2021:
EUR
40.3 MILLION)
    * ADJUSTED GROSS PROFIT MARGIN, REACHED 25.8% IN FIRST NINE
MONTHS
OF 2022 (9M 2021: 29.8%)
    * NINE-MONTH ADJUSTED OPERATING PROFIT (ADJUSTED EBIT)
DECREASED
TO EUR 60.9 MILLION (9M 2021: EUR 65.3 MILLION)

Source text for Eikon:  ID:nEQ3gdzxSa 
Further company coverage:  INS2.DE 
 ((Reuters.Briefs@thomsonreuters.com;))