Consus Real Estate: Red numbers after nine months in 2020

The real estate group Consus Real Estate has presented figures. In the first nine months, the subsidiary of the Adler Group S.A. increase total revenue by 34.4 percent to almost 706 million euros. On an adjusted EBITDA basis, Consus Real Estate reports an operating profit of 193 million euros, while earnings before interest and taxes have fallen from 214 million euros to just 151 million euros. The bottom line is that Consus Real Estate reports a nine-month loss of 37 million euros. In the same period last year, the company had made a profit of 29 million euros.

“Despite the coronavirus pandemic, we were able to successfully reach important strategic and operational milestones in the first nine months of 2020. Particularly noteworthy are the optimization of our development portfolio, the simplification of our group structure and the significant reduction in the average cost of debt through the refinancing of expensive mezzanine financings, ”says Theo Gorens, CEO of Consus Real Estate.

Security data: Consus Real Estate AG
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Ticker symbol: CC1
ISIN: DE000A2DA414
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