DGAP-News: Gateway Real Estate AG achieves an EBIT adjusted of EUR 51.6 million in the first nine months 2021

Gateway Real Estate AG achieves an EBIT adjusted of EUR 51.6 million in the first nine months 2021

- EBIT adjusted reached EUR 51.6 million in 9M 2021

- Earnings before taxes (EBT) amounted to EUR 31.3 million in the first nine months 2021

Berlin, 30 November 2021. Gateway Real Estate AG (WKN A0JJTG / ISIN DE000A0JJTG7), one of the leading listed developers of residential real estate and urban quarters using resource-saving wooden construction method, today published the financial statements for the first nine months 2021.

The company generated an EBIT adjusted of EUR 51.6 million (9M 2020: EUR 32.2 million) and earnings before taxes (EBT) amounted to EUR 31.3 million (9M 2020: EUR 12.9 million) in the first nine months 2021. Among other things, earnings were impacted by the successful sale of the activities in the Commercial Properties Development segment in the first quarter 2021.

The gross development volume (GDV) amounts to more than €6 billion including the additional attractive pipeline.

Tobias Meibom, CFO of Gateway Real Estate AG, comments: "The figures of the first nine months 2021 demonstrate our company's good positioning. Thanks to the acquisitions of the urban quarter developments this year, we believe we are also well positioned for the future. We confirm our full-year guidance of an EBIT adjusted of EUR 95 to 110 million and earnings before taxes (EBT) of EUR 70 to 80 million." Stefan Witjes, COO of Gateway Real Estate AG, adds: "The coalition agreement concluded shows that political and social pressure on the housing industry and construction companies to operate sustainably is growing. Gateway Real Estate AG is convinced that resource-efficient and climate-neutral real estate developments using the low-emission wooden construction method, as well as the establishment of affordable housing, hold the key to successfully mastering the complex challenges currently faced by our industry, while constantly creating value and shaping the future in a responsible manner.

About Gateway Real Estate

Gateway Real Estate AG is one of the leading listed developers of residential real estate and urban quarters in Germany, using resource-saving wooden construction method (WKN A0JJTG / ISIN DE000A0JJTG7). The focus of real estate development activities is on sustainability and responsible use of resources. The company has a portfolio in Germany's Top 9 cities and in selected high-growth regions, excellent market access and a well-filled project pipeline. This way, the company achieves sustainable and profitable growth.

Further information: https://gateway-re.de/en/

Contact

Sven Annutsch
Hardenbergstr. 28a
10623 Berlin
T +49 (0) 30 40 363 47 - 0
F +49 (0) 30 40 363 47 99
E-Mail: sven.annutsch@gateway-re.de