solidare real estate holding plc: solidare is well positioned for the rest of 2017

Malta (pta035/29.09.2017/16:00 UTC+2) Malta, 29 September 2017: solidare real estate holding plc ("solidare") (MT0000580101 / A1JGT0 / SRH) is looking ahead with confidence to the rest of the year after the results achieved during the first half-year. The company, which specialises in the highly promising market of micro-apartments, has been able to lay important groundwork for further growth during the spring and summer of this year. Altogether, solidare secured more than EUR 80 million of new financing to leverage the potential that lies in the attractive micro-apartment segment. At the beginning of the year, for instance, solidare acquired a further desirable property in the greater Düsseldorf area.

However, the financing also led to expenses that have burdened the net result for the half-year ending 30 June 2017. solidare generated a loss of just over EUR 2.0 million during the first six months, which was affected by the costs of the financing entered into and by the increased administrative expenses in comparison with the same period last year as a result of the expansion. This is supplemented by the fact that solidare had earned an extraordinary profit of EUR 4.7 million during the previous-year period. The figures for both periods are therefore only comparable to a limited degree. The operating result was now minus EUR 0.870 million compared to EUR 0.240 million in the previous year.

The rental income of the solidare group amounted to EUR 0.807 million during the period under review, whereby the company projects are still in the development stage and therefore cannot yet make any significant contribution to sales and earnings. From its Property Development & Sales business division, solidare was able to earn EUR 0.808 million.

During the course of the rest of the year, the company expects to make further acquisitions in interesting locations, which will substantially expand its portfolio with the aid of the existing acquisition financing.

The complete half-year report can be viewed at www.solidare.de under the rubric Investor Relations.

IR contact

Florian Brückner
NewMark Finanzkommunikation GmbH
COLOSSEO

Walther-von-Cronberg-Platz 16
D - 60594 Frankfurt am Main

Tel.: +49 / 69 / 94 41 80 - 64
Fax: +49 / 69 / 94 41 80 - 19
E-mail: ir@solidare.com
www.solidare.de

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Emitter:	solidare real estate holding plc Christopher Street 168 1467 Valletta Malta
Contact Person:	Laura Schlautmann
Phone:	+49 211 730 632-35
E-Mail:	laura.schlautmann@solidare.de
Website:	www.solidare.de
ISIN(s):	MT0000580101 (Share)
Stock Exchange(s):	Free Market in Frankfurt (Basic Board)