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Corestate Capital Holding S.A.: CORESTATE announces forecast for 2016 financial year and proclaims dividend of 70% of annual profit

DGAP-News: Corestate Capital Holding S.A.: CORESTATE announces forecast for 2016 financial year and proclaims dividend of 70% of annual profit
DGAP-News: Corestate Capital Holding S.A. / Key word(s): Forecast

2016-11-29 / 08:30
The issuer is solely responsible for the content of this announcement.

CORESTATE announces forecast for 2016 financial year and proclaims dividend of 70% of annual profit

CORESTATE Capital Holding S.A. (“CORESTATE”), a fully integrated real estate investment manager based in Luxembourg, announces its forecast for the 2016 financial year. Based on the business development over the past months, the Management Board anticipates consolidated revenue of at least EUR 53.5 million for the year as a whole and net income for the year of at least EUR 17.7 million, significantly exceeding the previous year’s result. The Management Board intends to propose to the Supervisory Board and the Shareholders’ Meeting that a dividend amounting to around 70% of the annual profit will be paid.

CORESTATE is observing growing demand particularly from institutional partners for comprehensive investment management solutions. Bayerische Versorgungskammer (BVK), one of Germany’s biggest institutional investors, and CORESTATE thus announced the formation of a joint special fund at the end of October. The new “BVK Residential Europe Real Estate Fund Corestate” is aiming for a total volume of at least EUR 500 million and will primarily invest in micro-apartments. The extent of existing mandates could also be expanded by the purchase of retail portfolios and the growth of the micro living / student living segment. Together with other property and asset management mandates, a solid foundation for a successful year 2017 has already been created.

Sascha Wilhelm, Chief Executive Officer of CORESTATE, comments: “Over the past years, CORESTATE has developed into an internationally established real estate investment manager that is successful across all risk categories of real estate investment products. We are consistently setting new standards with innovative products. With this approach, we are increasingly winning institutional investors and thereby establishing a basis for further healthy corporate growth. We are confident that we can significantly increase the volume of our assets under management.”

Investor Relations Contact
Henryk Deter / Mirko Koch
cometis AG
Phone: +49 611 20585540 /

Press Contact
Tom Zeller, Managing Partner
Feldhoff & Cie. GmbH
Phone: +49 69 264867715 / Cell phone: +49 176 10430063 /

CORESTATE Capital Holding S.A.
CORESTATE Capital Holding S.A. is a fully integrated real estate investment manager and co-investor seated in Luxembourg that also has offices inter alia in Frankfurt, Zurich, London, Madrid and Singapore. Since foundation of CORESTATE in 2006 the transaction volume amounts to approximately EUR 5.7 billion. CORESTATE accompanies its customers along the entire value creation chain of a real estate investment product and covers, in particular, deal sourcing and the development of investment products, structuring and execution of transactions, real estate investment management services and the development and execution of exit strategies. Since October 2016 the group is listed on the Frankfurt Stock Exchange via the Entry Standard.

Forward-Looking Statements
This release may contain forward-looking statements based on current assumptions and forecasts made by our management. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of our company and the estimates given here. These factors include those discussed in our public reports, which are available on our website at []. The company assumes no liability whatsoever to update these forward-looking statements or to conform them to future events or developments. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof.