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EQS-Ad-hoc: TTL Beteiligungs- und Grundbesitz-AG / Key word(s): Change in Forecast Publication of inside information pursuant to Article 17 of Regulation (EU) No 596/2014
Munich, 11.08.2023 TTL adjusts forecast for financial year 2023 TTL Beteiligungs- und Grundbesitz-AG („TTL“, „TTL AG“) (ISIN DE0007501009) today adjusted its forecast for the financial year 2023. In the context of preparing the 2023 half-year financial statements, it turned out that TTL's 2023 full-year forecast has to be adjusted at Group and AG level. Reason for this is above all the continuing decline in transactions in the real estate investment market in the first half of 2023, which has had a greater impact on the business of the TTL portfolio companies than expected. In particular, the half-year result of TTL Real Estate GmbH is below that of the previous year, corresponding to the negative market development. Despite successful transaction closings, the result of Montano Real Estate GmbH, in which TTL holds 50 percent of the shares, is also lower in the first six months of the current financial year than planned at the beginning of the year. Due to the resulting lower income from investments, TTL achieved consolidated earnings before taxes of EUR -2.5 million in the first half of 2023 (previous year: app. EUR 0.3 million). TTL does not expect any significant improvement in the real estate investment market in the second half of 2023. For the full year, depending on the further development of the transaction volume, TTL therefore now anticipates, a consolidated pre-tax result of EUR -3.3 to -3.9 million, adjusted for one-off effects if necessary, based on an investment and interest result of EUR -2.6 to -3.1 million.
Notifying person Theo Reichert CEO Tel: +49 89 381611-0 E-Mail: presse@ttl-ag.de
Media and investor relations contact Annette Kohler-Kruse Instinctif Partners Tel. +49 89 3090 5189-23 ir@ttl-ag.de
End of Inside Information
11-Aug-2023 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
| Language: | English |
| Company: | TTL Beteiligungs- und Grundbesitz-AG |
| Maximilianstraße 35C | |
| 80539 München | |
| Germany | |
| Phone: | +49 (0)89 381611-0 |
| Fax: | +49 (0)89 3915-92 |
| E-mail: | sekretariat@ttl-ag.de |
| Internet: | www.ttl-ag.de |
| ISIN: | DE0007501009 |
| WKN: | 750100 |
| Listed: | Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange |
| EQS News ID: | 1702331 |
| End of Announcement | EQS News Service |
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1702331 11-Aug-2023 CET/CEST
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