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Press Releases of 12/29/2018

Ad Hoc Announcement: Corestate Capital Holding S.A.: CORESTATE terminates employment of Michael Bütter

Corestate Capital Holding S.A. terminates the employment of Michael Bütter and revokes the employment contract by the end of the year. Until further notice, CEO's responsibilities will be assumed by the two Board Members Lars Schnidrig and Thomas Landschreiber. Lars Schnidrig temporarily assumes the function of the Chairman of the Management Board.

 

 

CORESTATE terminates employment of Michael Bütter

Corestate Capital Holding S.A. terminates the employment of Michael Bütter and revokes the employment contract by the end of the year.

Until further notice, CEO's responsibilities will be assumed by the two Board Members Lars Schnidrig and Thomas Landschreiber. Lars Schnidrig temporarily assumes the function of the Chairman of the Management Board.

The separation of Dr. Bütter neither has any conjunction with the operational performance nor with the strategic orientation of the company. The guidance, raised in November 2018, and the indication for the dividend for fiscal year 2018 remain unchanged. Thus, the company expects aggregated revenues1 of EUR 270 to 280 million, adjusted EBITDA1 of EUR 160 to 170 million and adjusted net income1 of EUR 125 to 135 million. It is considered to propose a dividend of EUR 2.50 per share.

1 Please see for further details on our performance indicators on page 2 of our Q3 statement 2018


IR Contact
Dr. Kai Gregor Klinger
Head of Investor Relations and Capital Markets
T: +49 69 3535630106 / M: +49 152 22755400
ir@corestate-capital.com

 

12/12/2018

Corestate Capital Holding S.A.: CORESTATE enters into exclusive partnership with MEDICI LIVING, Europe's leading co-living provider

The cooperation plans to build a co-living portfolio worth EUR 1 billion across Europe within five years with investor money. As part of the cooperation, CORESTATE will identify, acquire and develop for its clients ideal sites and properties. The focus will be on cities in the German-speaking countries, Spain and Eastern Europe, with over 500,000 inhabitants and real estate with an investment volume of EUR 20 to 60 million. Several properties are already in the pipeline for the new product line. CORESTATE will benefit from its good market access and many years of experience in the micro living sector.

11/21/2018

CORESTATE's Hannover Leasing launches closed-end property AIF investing in office/hotel/asset

Hannover Leasing has launched a new closed-end property AIF for private investors. The fund invests in the property named Quartier West, an office and hotel complex with 14,963 sqm of space, situated in Darmstadt south of Frankfurt. Investors can take tranches starting from EUR 10,000. The projected payout is 4.1% p.a. Referring to the equity, investors will receive a projected total payout of 146.46% for a ten-year term ending on 30/06/2029.

11/14/2018

CORESTATE continues consistent growth and raises guidance for 2018 - Net debt significantly reduced

CORESTATE continued its profitable growth in the first nine months of the year. Including the recent acquisition of CRM Students, its assets under management now amount to more than EUR 25 billion. CORESTATE generated aggregate revenues of EUR 224.3 million in the first nine months of 2018, up from EUR 83.4 million a year ago. Adjusted EBITDA from January to September 2018 was EUR 137.0 million, compared to EUR 39.2 million in the same period of the previous year. Adjusted net profit for the first nine months of 2018 amounted to EUR 103.6 million and nearly quadrupled year-on-year (EUR 26.9 million).