Patrizia shifts annual report – profit destination remains

The company announced that the profit before interest, taxes and depreciation (EBITDA) is expected of 30 to 60 million euros in the medium area of ​​the forecasting width available so far. The effects of the new balance sheet assessment on the financial indicators of the 2024 financial year are limited. Effects on the operational business and the liquidity of the company does not expressly result. The balance sheet key figures have only been changed slightly.

The background of the necessary changes concern the Whitehelm takeover in 2022, in which conditional purchase price payments to former shareholders of the company were agreed for the financial years 2022 to 2024 when the sales goals are reached. The balance sheet liabilities for them as part of the initial consolidation would now be regarded as personnel expenses. This should be recorded in the profit and loss account, which increases the personnel expenditure from 2022 to 2024 in a range from a low double-digit to a low single-digit million euro amount and the EBITDA is accordingly.

The implementation of this retroactive adaptation in the 2024 group and the processing in the annual and group financial statements for the 2024 financial year is associated with an increased amount of time on the part of the company and on the part of the auditor. Patrizia therefore shifts the submission of the business figures for 2024 to March 24th. The company originally wanted to present the data on February 26.

Investors were nervous. The Patrizia share slipped by 3.4 percent in the post-market business on the trading platform Tradegate.

/He/ajx

Augsburg (dpa-Afx)

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