PREOS Global Office Real Estate & Technology AG presents annual financial statements for 2021

Frankfurt/Main, 31 October 2022- PREOS Global Office Real Estate & Technology AG ("PREOS", ISIN DE000A2LQ850) generated sales of EUR 139,549 in fiscal year 2021, compared to EUR 390,339 in the previous year. This is shown in the individual financial statements published today, which were prepared in accordance with HGB accounting principles.

In particular, the need for a value adjustment on the 23 million shares of PREOS subsidiary GORE German Office Real Estate AG (see ad hoc release dated October 19, 2021), which was already announced in October 2021, weighed on the income statement. As of December 31, 2021, the price per GORE share held by PREOS is EUR 3.00. This results in a net loss for the year of EUR -24.48 million due to valuation, following a surplus of EUR 83.01 million in the previous year. The unappropriated surplus was determined at EUR 50.29 million for 2021 in view of the unappropriated surplus of EUR 74.77 million carried forward in full from the previous year.  

Balance sheet equity amounts to EUR 418.04 million at the balance sheet date of December 31, 2021 (end of 2020: EUR 442.51 million).

Operationally, PREOS completed a number of key transactions in 2021 despite the pandemic-related constraints, improving operating performance and contributing to a manageable operating loss of EUR -1.4 million. Among others, the WestendCarree in Frankfurt/Main with a total leasable area of 30,550 square meters was sold to the French Ardian Group. Prior to this, a lease extension for a period of five years was concluded with the Max Planck Institute in the property.

PREOS's audited individual financial statements for 2021 will be available at www.preos.de/en-us/investor-relations/ as of November 7.

About PREOS Global Office Real Estate & Technology AG

PREOS Global Office Real Estate & Technology AG ("PREOS") is an active real estate investor focused on office properties. PREOS acts as an efficient management holding company. In purchasing, the focus is on office properties with development potential in German metropolitan regions. Added value is generated through targeted asset management measures. Developed portfolio properties are sold if there are adequate sales opportunities. The corporate strategy is to significantly expand the real estate portfolio through acquisitions in the coming years. The PREOS share (ISIN DE000A2LQ850) is listed in the m:access segment of the Munich Stock Exchange (PAG.MU) and on Xetra (PAG.DE). The registered office of PREOS is in Frankfurt am Main.

Press contact

Financial Press and Investor Relations:

edicto GmbH

Axel Mühlhaus

Phone: +49 69 905505-52

E-mail: preos@edicto.de