EQS-Ad-hoc: TTL Beteiligungs- und Grundbesitz-AG / Key word(s): Change in forecast
TTL Beteiligungs- und Grundbesitz-AG: TTL adjusts forecast for the 2023 financial year
11.08.2023 / 19:16 CET/EST
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München, 11.08.2023
TTL adjusts forecast for the 2023 financial year
TTL Beteiligungs- und Grundbesitz-AG (“TTL”, “TTL AG”) (ISIN DE0007501009) today adjusted its forecast for the 2023 financial year.
As part of the preparation of the 2023 half-year financial statements, it emerged that TTL’s annual forecast for 2023 had to be adjusted at Group and AG level. The main reason for this is the continued decline in transactions in the real estate investment market in the first half of 2023, which had a greater impact on the business of TTL investments than expected.
In particular, the half-year result of TTL Real Estate GmbH is below that of the previous year, in line with the negative market development. The result of Montano Real Estate GmbH, in which TTL holds a 50 percent stake, is also lower than planned at the beginning of the year in the first six months of the current financial year, despite the successful conclusion of transactions.
Due to the resulting lower income from investments, TTL achieved a half-year result for 2023 before taxes of EUR -2.5 million (previous year: around EUR 0.3 million) at group level.
TTL does not expect any significant improvement in the real estate investment market in the second half of 2023. For the year as a whole, TTL now expects earnings before taxes of EUR -3.3 to -3.9 million, depending on the further development of the transaction volume, at group level – possibly after eliminating one-off effects, based on an investment – and interest result of EUR -2.6 to -3.1 million.
notifying person
Theo Reichert
CEO
Tel: +49 89 381611-0
E-Mail: [email protected]
Contact for investors and the press
Annette Kohler-Kruse
Instinctive Partners
Tel. +49 89 3090 5189-23
Ende der Insider information
08/11/2023 CET/CEST The EQS distribution services include statutory reporting requirements, corporate news/financial news and press releases.
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Language: German Company: TTL Beteiligungs- und Grundbesitz-AG Maximilianstraße 35C 80539 Munich Germany Telephone: +49 (0)89 381611-0 Fax: +49 (0)89 3915-92 E-mail: [email protected] Internet: www.ttl-ag.de ISIN: DE0007501009 WKN: 750100 Stock exchanges: Regulated market in Frankfurt (General Standard); Open market in Berlin, Düsseldorf, Munich, Stuttgart, Tradegate Exchange EQS News ID: 1702331
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1702331 11.08.2023 CET/CEST