Brief: Instone Real Estate Group SE Says Financial Forecast For 2022 Suspended

Instone Real Estate SE

11/05/2022 17:12

May 11 (Reuters) - Instone Real Estate Group SE  INS2.DE :
    * DGAP-ADHOC: INSTONE REAL ESTATE GROUP SE: FINANCIAL
FORECAST FOR
2022 SUSPENDED DUE TO SIGNIFICANTLY INCREASED SHORT-TERM
UNCERTAINTY AND LIMITED VISIBILITY; BUSINESS DEVELOPMENT AS
EXPECTED IN Q1 – 2022
    * MANAGEMENT BOARD EXPECTS DELAYS IN CONSTRUCTION PROGRESS
AT
INSTONE'S CONSTRUCTION SITES
    * CURRENT CONTINUED INCREASE IN ENERGY AND MATERIAL COSTS
WILL
LEAD TO FURTHER INCREASES IN CONSTRUCTION COSTS
    * MANAGEMENT BOARD STILL EXPECTS A COMPARATIVELY ROBUST
DEVELOPMENT WITH REGARD TO COMMUNICATED MARGIN TARGETS
    * MANAGEMENT ASSUMES THAT REVENUES, WILL FALL SHORT OF
EXPECTATIONS FOR FY2022
    * MANAGEMENT BOARD CANNOT PROVIDE A CONCRETE FINANCIAL
FORECAST
FOR FINANCIAL YEAR 2022

Source text for Eikon:  ID:nEQ6FQYfja 
Further company coverage:  INS2.DE 

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