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Coreo AG Earnings Release 2017
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Earnings Release
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News Details
Corporate | 5 September 2017 09:00
Coreo announces the publication of half-year figures for 2017 and the sale of a holding in an Asian company
DGAP-News: Coreo AG / Key word(s): Half Year Results
05.09.2017 / 09:00
The issuer is solely responsible for the content of this announcement.
Coreo announces the publication of half-year figures for 2017 and the sale of a holding in an Asian company
Frankfurt am Main, Germany – 5 September 2017 – Coreo AG (ISIN: DE000A0B9VV6) secured its first positive result in three years in the first half of 2017, achieving a total of EUR 0.4 million (previous year: EUR -7.3 million Euro) after realigning its real estate investments at the start of this year. The key factor influencing this result was the income generated from selling shares in investments in the old portfolio. The released liquidity is to be invested in implementing the new corporate strategy in other properties.
With three recent real estate acquisitions, Coreo’s real estate business has gathered momentum in the first half of 2017. In May this year, for instance, Coreo obtained an attractive residential portfolio consisting of four multi-family houses in Bad Köstritz, Germany. In July, Coreo secured an interesting commercial property at the harbour in Mannheim, Germany. Its most recent investment is the Metro property acquired in August in Bruchsal, Germany. Coreo has many other potential investment projects in the pipeline for which it is the exclusive or co-exclusive agent.
The semi-annual report will soon be available to download at www.coreo.de.
Coreo also announced that it has completed the sale of its holding in Asian technology investor New Asia Investments Pte. Ltd. (NAI). The shares have been sold to existing NAI shareholders at a mid-six-figure price. The selling price was therefore higher than the current book value.
About Coreo AG
With the conversion to Coreo AG, the company created from the technology investment company Nanostart AG is being strategically realigned. It aims to develop a value-driven real estate portfolio of selected commercial and residential properties
Contact:
Coreo AG
Andrea Börner
Grüneburgweg 18
D-60322 Frankfurt a. M.
T: +49 (0) 69 219396-0
05.09.2017 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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| Language: | English |
| Company: | Coreo AG |
| Grüneburgweg 18 | |
| 60322 Frankfurt am Main | |
| Germany | |
| Phone: | +49 69 2193 96-0 |
| Fax: | +49 69 2193 96-150 |
| E-mail: | [email protected] |
| Internet: | www.coreo.de |
| ISIN: | DE000A0B9VV6 |
| WKN: | A0B9VV |
| Listed: | Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange; Open Market (Basic Board) in Frankfurt |
| End of News | DGAP News Service |