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DGAP-News: VERIANOS Real Estate Aktiengesellschaft
/ Key word(s): Annual Results
VERIANOS Real Estate Aktiengesellschaft - Publication of annual consolidated financial statements 2019
Cologne/Frankfurt am Main, 29 July 2020 - VERIANOS Real Estate Aktiengesellschaft, the listed real estate company (ISIN: DE000A0Z2Y48) focusing on value investments in the European small and mid-cap real estate segment, has published its audited consolidated financial statements for the period from 1 January 2019 to 31 December 2019. The 2019 financial year closed with a consolidated net loss of EUR -0.751 million (previous year: consolidated net income of EUR 1.744 million). This particularly reflects the market situation prevailing in Germany in the 2019 financial year, which, due to the historically high demand of many investors for real estate, only permitted a few purchase opportunities for a value investor. In fiscal year 2019, VERIANOS continued to act in a consistently disciplined manner in order not to deviate from the high-quality requirements for investments at the expense of short-term fee income. In addition, the COVID-19 pandemic has caused delays, which resulted in positive performance developments not being taken into account in the fiscal year 2019. The consolidated financial statements and the management report are available at: https://www.verianos.com/investor-relations/. From the VERIANOS Management Board's perspective, the effects of the COVID-19 pandemic are the catalyst for structural changes in the real estate market with accompanying, situation-related price corrections and offer significant opportunities for value investors focusing on repositioning opportunities. This is especially the case in sectors that are severely affected by the pandemic, such as the hotel and hospitality industry as well as the retail segment. VERIANOS Management Board also sees opportunities in the expansion of its advisory business. VERIANOS Management Board Member Tobias Bodamer: "Our absolute discipline in investment decisions enables us to enter into a possible market correction with a stable existing portfolio. At the same time, our European Opportunities Fund, for which we recently announced the first closing, provides us with sufficient capital to react quickly to market corrections. As a value investor focusing on the European small and mid-cap segment, we are closely monitoring current developments on the real estate market and remain convinced that we can realise attractive investment opportunities here. In addition to the existing funds that are in the investment phase, we continue to be active in fundraising in order to further expand our investment base."
About VERIANOS Contact: Financial and business press:
29.07.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
| Language: | English |
| Company: | VERIANOS Real Estate Aktiengesellschaft |
| Gürzenichstraße 21 | |
| 50667 Cologne | |
| Germany | |
| Phone: | +49 221 20046100 |
| Fax: | +49 221 20046140 |
| E-mail: | ir@verianos.com |
| Internet: | www.verianos.com |
| ISIN: | DE000A0Z2Y48 |
| WKN: | A0Z2Y4 |
| Listed: | Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Basic Board), Hamburg, Stuttgart |
| EQS News ID: | 1105631 |
| End of News | DGAP News Service |
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1105631 29.07.2020
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