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PATRIZIA AG
Earnings Release • Jul 21, 2020
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Earnings Release
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News Details
Ad-hoc | 21 July 2020 17:05
PATRIZIA AG: Strong second quarter 2020 – PATRIZIA confirms guidance for FY 2020
PATRIZIA AG / Key word(s): Quarter Results/Forecast
PATRIZIA AG: Strong second quarter 2020 – PATRIZIA confirms guidance for FY 2020
21-Jul-2020 / 17:05 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.
PATRIZIA AG: Strong second quarter 2020 – PATRIZIA confirms guidance for FY 2020
Based on preliminary calculations, PATRIZIA will report an operating income of EUR 74.1 million for the first half of 2020. This corresponds to an operating income for the second quarter of 2020 in the amount of EUR 49.4 million after EUR 24.7 million in the first quarter of 2020.
Despite the corona pandemic, PATRIZIA was able to successfully execute selected property acquisitions and disposals in the segment of high-quality properties for its institutional, (semi-)professional and private investors in a difficult market environment. The above-average investment performance realised for clients in this process significantly increased PATRIZIA’s performance fees compared to the first quarter of 2020.
On the basis of the overall strong first half of 2020, PATRIZIA confirms its forecast for the operating income for the fiscal year 2020 in the amount of EUR 100.0 – 140.0 million.
PATRIZIA will announce further details as planned on 6 August 2020 with the publication of the interim report for the first half of 2020.
Contact:
Martin Praum
Head of Investor Relations
Phone: +49 (0)821 50910-402
21-Jul-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de
| Language: | English |
| Company: | PATRIZIA AG |
| Fuggerstraße 26 | |
| 86150 Augsburg | |
| Germany | |
| Phone: | +49 (0)821 – 509 10-000 |
| Fax: | +49 (0)821 – 509 10-999 |
| E-mail: | [email protected] |
| Internet: | www.patrizia.ag |
| ISIN: | DE000PAT1AG3 |
| WKN: | PAT1AG |
| Indices: | SDAX |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange |
| EQS News ID: | 1098815 |
| End of Announcement | DGAP News Service |