Brief: Instone Real Estate Sees Adjusted Revenues For FY 2020 To Be In Range Of Eur 470 Mln To Eur 500 Mln

Instone Real Estate SE

26/08/2020 22:41

Aug 26 (Reuters) - Instone Real Estate Group AG  INS2.DE :
    * DGAP-ADHOC: INSTONE REAL ESTATE GROUP AG: INSTONE REAL
ESTATE
RESOLVES CAPITAL INCREASE WITH SUBSCRIPTION RIGHTS AGAINST CASH
CONTRIBUTION TO FUND ADDITIONAL LAND INVESTMENT OPPORTUNITIES
AND PUBLISHES NEW GUIDANCE FOR FINANCIAL YEAR 2020
    * EXPECTS FINANCIAL YEAR 2020 TO BE NEGATIVELY IMPACTED BY
ONGOING
COVID-19 PANDEMIC
    * SEES ADJUSTED REVENUES FOR FINANCIAL YEAR 2020 TO BE IN
RANGE OF
EUR 470 MILLION TO EUR 500 MILLION
    * INSTONE REAL ESTATE -SEES FY 2020 AN ADJUSTED GROSS PROFIT
MARGIN OF AT LEAST 28%
    * BOARD CONFIRMS PREVIOUS GUIDANCE FOR FY 2021 FOR GROUP
WITH
ADJUSTED REVENUES IN RANGE OF EUR 900 MILLION TO EUR 1.0 BILLION
    * SEES FY 2020 SALES VOLUME FOR FULLY DEVELOPED PROJECTS OF
MORE
THAN EUR 450 MILLION

Source text for Eikon:  ID:nEQdh4gYa 
Further company coverage:  INS2.DE 

 ((Reuters.Briefs@thomsonreuters.com;))