TTL Beteiligungs- und Grundbesitz AG publishes preliminary business figures for the financial year 2023
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EQS-Ad-hoc: TTL Beteiligungs- und Grundbesitz-AG / Key word(s): Annual Results/Annual Report Munich, 6 May 2024 The issuer is responsible for the content of this announcement. TTL Beteiligungs- und Grundbesitz AG publishes preliminary business figures for the financial year 2023 Based on preliminary and not yet audited figures, the Management Board of TTL Beteiligungs- und Grundbesitz-AG ("TTL", "TTL AG") (ISIN DE0007501009) assumes that the company will probably close the financial year 2023 with consolidated earnings before taxes of EUR -14.0 to -14.5 million (forecast: EUR -3.3 million to EUR -3.9 million) based on a net investment and interest result of EUR -8.3 million to EUR -8.6 million (forecast: EUR -2.6 million to EUR -3.1 million). The deviation is mainly due to the negative earnings per share of Branicks Group AG ("Branicks") (ISIN: DE000A1X3XX4) of EUR -0.79 (previous year: EUR +0.38) as well as further impairments of financial receivables and investments, which the Executive Board / Supervisory Board of TTL decided to make today for risk provisioning reasons after receiving new information on the financial situation of Branicks with the publication of Branicks' business figures for 2023. In this context, the Executive Board also decided today to propose to the Supervisory Board that no dividend payment be made for the 2023 financial year. While the developments at Branicks have prompted TTL's Executive Board to adjust its forecast for the 2023 financial year, the results at Montano Real Estate GmbH ("Montano") are encouraging. Montano achieved an earnings contribution of EUR +0.5 million in 2023. TTL expects Montano's positive development to continue in 2024. Montano already successfully completed a transaction in Hamburg in the first quarter of 2024. The company will publish the final financial figures and the Annual Report for the 2023 financial year on 31 May 2024. Notifying person Contact for investors and press
End of Inside Information
06-May-2024 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
| Language: | English |
| Company: | TTL Beteiligungs- und Grundbesitz-AG |
| Maximilianstraße 35C | |
| 80539 München | |
| Germany | |
| Phone: | +49 (0)89 381611-0 |
| Fax: | +49 (0)89 3915-92 |
| E-mail: | sekretariat@ttl-ag.de |
| Internet: | www.ttl-ag.de |
| ISIN: | DE0007501009 |
| WKN: | 750100 |
| Listed: | Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange |
| EQS News ID: | 1896733 |
| End of Announcement | EQS News Service |
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1896733 06-May-2024 CET/CEST
