EVAN Group plc.: EVANGroup publishes 2019 financial results
DGAP-News: EVAN Group plc. / Key word(s): Annual Results
28.12.2020 / 13:34
The issuer is solely responsible for the content of this announcement.*Press Release*
*EVANGroup publishes 2019 financial results*
· *Net losses increase from 3,119 thousand euros to 68,911 thousand euros *
· *Focus on livinit strategy for urban micro-housing solutions*
· *Continuation of business fully assured despite Covid-19 pandemic*
*Valletta, 28 December 2020:* EVAN Group plc (EVAN) (ISIN DE000A19L426 / WKN A19L42) announces its audited results for the financial year 2019. In this financial year, a net loss of 68,911 thousand euros was incurred, compared to 3,119 thousand euros in the financial year 2018, mainly due to the discontinuation and write-off of activities at Shopinit GmbH resulting from lower retail sector revenues. The company has since decided to discontinue this business segment and will focus on innovative residential concepts in urban and metropolitan areas in the future (see press release dated 13 March 2020).
As part of the balance sheet reduction associated with the strategic realignment, it is intended to reduce share capital to 27,000 thousand euros. This operation will have no impact on EVAN Group plc's cash flow or financial position and will be offset by the reduction in the loss carried forward and balanced of by bonds in issue.
"2019 has shown us that it is right and important to review one's market positioning constantly. In our case, this means focusing on the development and management of residential properties in the micro-apartment segment," explains Stefan Feuerstein, Director of EVAN Group. "Here, large and university cities with many weekend commuters and a disproportionate share of single-person households play a central role."
The continuation of EVAN Group plc's business activities is fully secured, notwithstanding the effects of the Covid-19 pandemic on the general economic situation and the real estate market, in particular.
*About EVANGroup plc: *
EVANGroup plc is an institutional owner and operator of commercial real estate in Germany's top 10 cities, leveraging years of experience to drive value in underserved market niches such as micro-living for students and professionals, affordable housing for professionals. EVAN follows in the footsteps of UNIMO Real Estate Holding AG, with which EVAN's owners have successfully completed numerous transactions over the past two decades.
EVANGroup plc is building the current and future portfolio of residential real estate in Germany on the livinit concept (development and management of residential real estate).
*Contact for more information: *
Margit Levay
NewMark Finanzkommunikation GmbH
Walther-von-Cronberg-Platz 16
D-60594 Frankfurt am Main
Tel.: +49 (0) 69 94 41 80 81
Fax: +49 (0) 69 94 41 80 19
E-Mail: IR@evan-group.com
or www.evan-group.com
*Important Information / Disclaimer:*
This publication shall not constitute an offer to sell or a solicitation of an offer to buy or subscribe of any securities of EVANGroup Plc in any jurisdiction. Potential users of this information are requested to inform themselves about and to observe any such restrictions.
This publication and the information contained therein are not directed at or to be accessed by persons who are residents of the United States, who are physically present in the United States, who are otherwise "U.S. persons" as defined in Section 902 of Regulation S under the United States Securities Act of 1933, as amended (the "Securities Act") or who are located in Canada, Australia or Japan or any jurisdictions in which the distribution of this publication or release of such information would be unlawful.
Securities of EVANGroup plc cannot be offered or sold in the United States without registration under the Securities Act or pursuant to an exemption from such registration. EVANGroup plc has not registered, and does not intend to register, any of its securities under the Securities Act or to conduct a public offering of securities in the United States.
This publication shall not be regarded as an investment advice or recommendation within the meaning of German Securities Prospectus Act or Directive 2003/71 /EC of the European Parliament and may not be used for an offering requiring such prospectus. EVAN Group Plc will not be responsible for the content of this document in relation to any offering which requires such a prospectus.
This publication contains 'forward-looking statements'. Forward-looking statements are all statements, which do not describe facts of the past, but containing the words "believe", "estimate", "expect", "anticipate", "assume", "plan", "intend", "could", and words of similar meaning. These forward-looking statements are subject to inherent risks and uncertainties since they relate to future events and are based on current assumptions and estimates of EVANGroup plc, which might not occur at all or occur not as assumed. They therefore do not constitute a guarantee for the occurrence of future results or performances of EVANGroup plc The actual financial position and the actual results of EVANGroup plc, as well as the overall economic development and the regulatory environment may differ materially from the expectations, which are assumed explicitly or implicitly in the forward-looking statements and do not comply to them. Therefore, investors are warned to base their investment decisions with respect to EVANGroup plc on the forward-looking statements mentioned in this publication.
--------------------
28.12.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de --------------------
Language: English
Company: EVAN Group plc.
St. Christopher Street 168
VLT 1467 Valletta
Malta
E-mail: info@evan-group.com
Internet: www.evan-group.de
ISIN: DE000A19L426
WKN: A19L42
EQS News ID: 1157608
End of News DGAP News Service