NAVSTONE SE: Business update 2022 and outlook 2023

Eindhoven (pta042/08.03.2023/18:50 UTC+1)

NAVSTONE SE, listed on the m:access of the Munich Stock Exchange (ISIN NL0009538008 / WKN A1CUJD), informs on developments in 2022 and provides an outlook for 2023.

The real estate portfolio in Dublin has been expanded according to plan in the last months. The total value of the real estate portfolio as of December 31, 2022 was approximately EUR 15.4 million compared to EUR 8.0 million as of June 30, 2022. The real estate portfolio consists of 9 apartment buildings with 69 residential units, of which 8 buildings are fully rented. One building is currently undergoing refurbishment and is expected to be rented out in the 2nd half of 2023. In total, the portfolio will grow to almost EUR 16 million with approximately EUR 1.4 million of annualized rental income after completion of the renovation work. For the 2023 financial year, management expects rental income of more than EUR 1.2 million.

Property prices in Dublin have increased by 5% in 2022. The year can be divided into two halves. A first half with strongly rising real estate prices and a stagnating second half. Local real estate research houses expect a very resilient real estate market in 2023. The imbalance between supply and demand in the Dublin rental market is seen to continue over the next few years, so that rents are expected to increase by up to 4% in 2023. Irish net migration and population growth continue to point to increasing housing demand.

Management has achieved its goal of fully investing the Company's equity in the real estate market by the end of fiscal 2022. To date, the significant increase in financing costs in recent months has not had a recognizable impact on property price levels in Dublin. Management has therefore decided to slow down refinancing efforts and expansion plans for the time being. Instead it will be focus to optimize the existing portfolio in 2023.

Preliminary financial figures for 2022 will be published in due course.

For the year 2023, NAVSTONE SE expects a positive result.

Please contact our investor relations team directly for any further questions:

NAVSTONE SE
Investor Relations

t.: +49 89-30659216
contact@navstone.eu

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Emitter:	NAVSTONE SE Kennedyplein 200 5611 ZT Eindhoven Netherlands
Contact Person:	Michael Hasenstab
Phone:	+49 89 30659216
E-Mail:	info@navstone.eu
Website:	navstone.eu
ISIN(s):	NL0009538008 (Share)
Stock Exchange(s):	Free Market in Munich (m:access), Stuttgart