Brief: Patrizia Q1 EBITDA At 26.4 Mln

Patrizia SE

11/05/2022 11:56

May 11 (Reuters) - PATRIZIA AG  PATGn.DE :
    * SOLID FINANCIAL PERFORMANCE AND STRONG AUM GROWTH IN 3M
2022 –
MANAGEMENT RESPONDS TO INCREASINGLY CHALLENGING MARKET
CONDITIONS AND ADJUSTS GUIDANCE FOR FY 2022
    * HAS DECIDED TO LOWER FY 2022 EXPECTATION FOR TRANSACTION
FEES
FROM EUR 50.0 - 55.0M TO EUR 30.0 - 38.0M
    * Q1 EBITDA OF EUR 26.4M (-16.8% Y-O-Y) CAME IN BELOW LAST
YEAR'S
LEVELS DUE TO ONGOING STRATEGIC INVESTMENTS
    * GUIDANCE FOR NET SALES REVENUES & CO-INVESTMENT INCOME IS
LIFTED
FROM EUR 2.0 - 5.0M TO EUR 5.0 - 7.0M DUE TO REVENUE
CONTRIBUTION ALREADY ACHIEVED DURING 3M 2022
    * SEES UPSIDE POTENTIAL FOR PERFORMANCE FEE REALISATION
THROUGHOUT
FY 2022 FOLLOWING A STRONG START INTO YEAR AND INCREASES
GUIDANCE FROM EUR 50.0 - 60.0M TO EUR 55.0 - 65.0M
    * OUTLOOK 2022: FY 2022 GUIDANCE FOR EBITDA WILL HENCE BE
ADJUSTED
FROM EUR 120.0 - 145.0M TO EUR 100.0 - 120.0M
    * OUTLOOK 2022: EBT GUIDANCE RANGE TO EUR 46.2 - 66.2M (FROM
EUR
78.2 - 103.2M)
    * FY GUIDANCE RANGE FOR TOTAL SERVICE FEE INCOME IS LOWERED
FROM
EUR 345.0 - 375.0M TO EUR 330.0 - 363.0M

Source text for Eikon:  ID:nEQ7GMVWza 
Further company coverage:  PATGn.DE 

 (Gdansk Newsroom)
 ((Gdansk.newsroom@thomsonreuters.com; +48 58 7696600;))