- EBIT increases to 15.6 million Euro after 15.2 million Euro in 2017
- Earnings before taxes at 12.8 million Euro after 12.2 million Euro during the previous year
- Real estate portfolio expanded to around 176 million Euro
- Forecast 2019: Continuation of the positive business development; EBIT and EBT expected on the level of the two previous years
Eschborn, April 02, 2019 – Noratis AG (ISIN: DE000A2E4MK4, WKN: A2E4MK, „Noratis“), a leading real estate company focussing on the development of existing residential property, has closed fiscal 2018 according to provisional, unaudited figures as expected with a record profit. Earnings before interest and taxes (EBIT) improved to 15.6 million Euro after 15.2 million Euro in 2017. Earnings before taxes (EBT) rose to 12.8 million Euro after 12.2 million Euro during the previous year. Noratis AG has likewise reached the goal of significantly expanding its real estate portfolio in 2018. At the end of 2018 the portfolio was at around 176 million Euro after 99.2 million Euro a year before.
For 2018 the Supervisory Board and the Management Board will propose to the general meeting to pay a dividend of 1.30 Euro per share based on the share capital increased last year. This corresponds to the dividend policy of the company according to which half of earnings after taxes are to be distributed. During the past fiscal year earnings after taxes improved from 8.6 million Euro to 9.3 million Euro.
For 2019 Noratis AG assumes that the positive business development will continue and expects for both EBIT and EBT a result on the high level of the last two years.
The Annual Report 2018 will probably be published on 30 April 2019 and will then be available for downloading on the website www.noratis.de in the Investor Relations section.
Noratis AG (www.noratis.de) is a leading portfolio developer of residential properties in Germany. The company creates and preserves attractive and at the same time affordable living space for tenants, owner-occupiers and investors. Noratis acquires ageing residential portfolios throughout Germany, mostly company-owned apartments, residential areas or housing estates in cities with more than 10,000 inhabitants and in peripheral areas of conurbations. Noratis upgrades these residential properties sustainably, reduces the vacancy rate and creates a positive living climate for all residents. After a successful development, the properties are sold in the medium term as a portfolio to investors and/or individually to existing tenants, capital investors and owner-occupiers. A guarantee for the companies’ success and a profitable corporate development is the aspiration to create a shared value across all development steps for all stakeholders: from investors, employees and financing partners to current and future tenants. Noratis AG has been listed on the Frankfurt Stock Exchange since June 2017.