DGAP-News: Coreo AG

Coreo publishes provisional figures for the 2017 financial year, anticipating a positive operational result
 

Frankfurt am Main, Germany - 28 March 2018 - After evaluating its provisional figures for the 2017 financial year, Coreo AG (WKN: A0B9VV, ISIN: DE000A0B9VV6, Ticker: NNS) is expecting a positive annual result.

According to the International Financial Reporting Standards (IFRS), Coreo anticipates a (provisional) post-tax result of EUR 3.0 million for the 2017 financial year (previous year: EUR -7.3 million). According to the German Commercial Code (HGB), the (provisional) annual net income is EUR 3.0 million (previous year: EUR -7.3 million). This positive result was mainly achieved through write-backs on the MagForce investment as a result of changes in its share price and through the sale of shares from corporate investments. The result is therefore in line with management's expectations.

The (provisional) net asset value (NAV) per share of Coreo AG as at 31/12/2017 is EUR 2.07/share. The company's (provisional) equity capital is EUR 19.3 million (previous year: EUR 15.3 million) according to the IFRS, and is EUR 18.3 million (previous year: EUR 15.3 million) according to the HGB.

Coreo AG's individual financial statement for 2017 includes the investment values of the subsidiaries, and the values of properties are shown in the financial statements of the subsidiaries.

In order to further increase the volume and quality of the portfolio, Coreo issued a corporate bond in early 2018. Coreo is now well equipped with capital and has a promising pipeline of real estate projects for 2018 financial year.

The full annual report will be available to download at www.coreo.de very soon.
 

About Coreo AG:
Frankfurt am Main based Coreo AG, is a real estate company focusing on commercial and residential properties in Germany. It aims to develop and manage a value-driven real estate portfolio. Active asset management of the properties and their redevelopment shall create high rental income and attractive sales proceeds, so that Coreo establishes itself as a profitable and successful real estate company in the long term.