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The Grounds Real Estate Development AG
Earnings Release • Dec 10, 2020
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Earnings Release
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News Details
Ad-hoc | 10 December 2020 13:15
The Grounds Real Estate Development AG sells commercial property in Grünheide (Mark) and doubles 2020 earnings forecast
The Grounds Real Estate Development AG / Key word(s): Real Estate/Change in Forecast
The Grounds Real Estate Development AG sells commercial property in Grünheide (Mark) and doubles 2020 earnings forecast
10-Dec-2020 / 13:15 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
Ad hoc announcement pursuant to Article 17 of the Market Abuse Regulation
The Grounds sells commercial property in Grünheide (Mark) and doubles 2020 earnings forecast
Berlin, 10.12.2020 The Grounds Real Estate Development AG (The Grounds) concluded today a contract for the sale of a commercial property from fixed assets, which will already be recognised in the current year’s income statement. Therefore, the results forecast of EUR 2 million for the year 2020 is now again increased to EUR 4 million after taxes. The contract provides for a basic purchase price, due for payment immediately and significantly above the current book value, and a possible additional purchase price payment amounting to up to EUR 9.75 million after successful completion of a development planning process. The intention is to use the liquidity from the transaction to accelerate growth.
Contact
The Grounds Real Estate Development AG
Arndt Krienen/Jacopo Mingazzini, Management Board
Charlottenstraße 79-80, 10117 Berlin, Germany
Tel.: +49 (0) 30 2021 6866
Fax: +49 (0) 30 2021 6849
E-mail: [email protected]
Web: www.thegroundsag.com
End of the ad hoc announcement
10-Dec-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de
| Language: | English |
| Company: | The Grounds Real Estate Development AG |
| Charlottenstraße 79-80 | |
| 10117 Berlin | |
| Germany | |
| Phone: | 030 2021 6866 |
| Fax: | 030 2021 6489 |
| E-mail: | [email protected] |
| Internet: | www.thegroundsag.com |
| ISIN: | DE000A2GSVV5 |
| WKN: | A2GSVV |
| Listed: | Regulated Unofficial Market in Berlin, Dusseldorf (Primärmarkt), Frankfurt, Munich |
| EQS News ID: | 1154319 |
| End of Announcement | DGAP News Service |