EQS-Ad-hoc: The Grounds Real Estate Development AG / Key word(s): Change in forecast
The Grounds Real Estate Development AG: Any claim from the debtor warrant will be postponed to 2024
12/16/2023 / 00:12 CET/CEST
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Any claim from the debtor warrant will be postponed to 2024
Berlin, December 15, 2023 – The Grounds Real Estate Development AG (The Grounds / ISIN: DE000A2GSVV5) announces that any claims arising from a debtor warrant will be postponed until 2024. On December 14, 2023, the Grünheide municipal council approved the statutes for development plan 57 (GreenWorkPark Grünheide).
This means that the formal requirements for the creation of a claim from the Hangelsberg debtor warrant are met.
Due to the complexity of the matter, the contracting parties consider it impossible to reach a final agreement this financial year after an initial vote.
An agreement is aimed for in the first quarter of 2024. It is currently not foreseeable to what extent this could potentially result in claims for The Grounds Real Estate AG.
As a result of this transaction, which was not realized this year, the sales and profit expectations will be reduced by around EUR 4.5 million in sales and around EUR 3.73 million in earnings (EBIT).
This is offset by possible earnings contributions from a sale.
The Grounds Real Estate AG is in advanced negotiations about the sale of a majority stake in a real estate company. This sale was not part of the 2023 annual planning, which was the basis for the guidance.
This possible sale would likely have significant positive effects on sales and earnings in 2023.
The guidance will be updated as soon as there is clarity about how this sale will come about.
Company contact:
The Grounds Real Estate Development AG
Jacopo Mingazzini, board member
Charlottenstrasse 79-80, 10117 Berlin
T. +49 (0) 30 2021 6866
F. +49 (0) 30 2021 6849
Email: [email protected]
Web: www.thegroundsag.com
– End of ad hoc announcement –
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