Brief: Instone Real Estate Q1 Net Income Up At EUR 8.7 Mln

Instone Real Estate SE

28/05/2020 06:34

May 28 (Reuters) - INSTONE REAL ESTATE GROUP AG  INS2.DE :
    * FINAL RESULTS FOR Q1 2020 CONFIRM POSITIVE START TO THE
YEAR
    * Q1 ADJUSTED GROSS PROFIT MARGIN OF 29.8% REMAINS AT AN
ATTRACTIVE LEVEL
    * Q1 SIGNIFICANT INCREASE IN ADJUSTED EBIT (EUR 18 MILLION,
+14.6%) AND ADJUSTED NET INCOME (EUR 8.7 MILLION, +13.0%)
    * ADJUSTED REVENUES OF EUR 99.7 MILLION FOR Q1 CONSIDERABLY
ABOVE
PREVIOUS YEAR'S LEVEL (+18.4%)
    * FIRST-TIME OF DIVIDEND PAYMENT FOR FULL YEAR 2020 STILL
PLANNED
    * CONFIRMS EARNINGS OUTLOOK OF AT LEAST EUR 90.0 MILLION
(ADJUSTED
NET INCOME) FOR 2021 AND MID-TERM GROWTH TARGETS
    * EXPECTS A CLEARLY POSITIVE OPERATING CASH FLOW FOR FULL
YEAR
    * BEGINNING IN Q2, HOWEVER, A NOTICEABLE SLOWDOWN,
PARTICULARLY IN
SALES, IS ANTICIPATED DUE TO EFFECTS OF COVID-19 PANDEMIC
    * CONFIRMS TARGETS FOR 2021 AND 2022 FINANCIAL YEARS

Source text for Eikon:  ID:nEQ3xN634a 
Further company coverage:  INS2.DE 

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