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PATRIZIA SE
ISIN:
DE000PAT1AG3
WKN:
PAT1AG
Country: Deutschland
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Primary market: Germany
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EQS NID: 2089951
Levermann Score
21 February 2025 21:20PM
Publication of Annual Report 2024 on 10 April 2025 due to a retrospective adjustment of the comparison periods 2022 and 2023 – FY 2024 EBITDA in the middle of guidance range of EUR 30 – 60m
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EQS-Ad-hoc: PATRIZIA SE / Key word(s): Annual Report During the audit assessment a new accounting perspective has emerged regarding a M&A-specific matter, which also impacts the financial years 2022 and 2023. In consultation with its auditor PATRIZIA will perform a retrospective restatement of the comparison periods 2022 and 2023 in the publication of its consolidated financial statement 2024.
The issue concerns the Whitehelm acquisition conducted in 2022, where contingent purchase price components (“earn-out payments”) being tied to the achievement of defined net revenue targets for the financial years 2022 to 2024 have been agreed with former shareholders of Whitehelm. Following the reassessment of IFRS 3 B55 (a) - (h), the balance sheet liabilities for outstanding earn-out considerations recognised as part of the initial consolidation in 2022 are now regarded as staff costs. Accordingly, those staff costs will be recognized in the income statement, which will result in higher staff costs in the years 2022 to 2024 within a range from a low-double-digit to a low single-digit million-EUR amount unfolding a corresponding negative impact on EBITDA. The implementation of this retrospective adjustment in the consolidated financial statements 2024 and the processing in the annual and consolidated financial statements 2024 will require more time on the part of the Company and the auditor. PATRIZIA will therefore publish preliminary results on 24 March 2025 and the Annual Report 2024 on 10 April 2025. The analyst and investor call will take place on 24 March 2025. The impact of the new accounting treatment on the financial statements 2024 is limited. PATRIZIA expects an EBITDA in the middle of the communicated guidance range of EUR 30 – 60m. The change in accounting treatment explicitly has no impact on the Company's operating business and liquidity. The key balance sheet figures have only changed slightly. Contact: Tobias Ender Associate Director Investor Relations Phone:+49 69 643505-1443 Mobile: +49 151 50822434 investor.relations@patrizia.ag End of Inside Information
21-Feb-2025 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
| Language: | English |
| Company: | PATRIZIA SE |
| Fuggerstraße 26 | |
| 86150 Augsburg | |
| Germany | |
| Phone: | +49 (0)821 - 509 10-000 |
| Fax: | +49 (0)821 - 509 10-999 |
| E-mail: | investor.relations@patrizia.ag |
| Internet: | www.patrizia.ag |
| ISIN: | DE000PAT1AG3 |
| WKN: | PAT1AG |
| Indices: | SDAX |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange |
| EQS News ID: | 2089951 |
| End of Announcement | EQS News Service |
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2089951 21-Feb-2025 CET/CEST
