DGAP-Adhoc: Eyemaxx Real Estate AG : Eyemaxx suspends 2019/2020 forecast - Waiver of dividend proposed
DGAP-Ad-hoc: Eyemaxx Real Estate AG / Key word(s): Change in Forecast
Eyemaxx Real Estate AG : Eyemaxx suspends 2019/2020 forecast - Waiver of dividend proposed
02-Apr-2020 / 15:00 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
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Insider information according to Article 17 MAR
Eyemaxx suspends 2019/2020 forecast - Waiver of dividend proposed
Aschaffenburg, 2 April 2020 - Eyemaxx Real Estate AG (ISIN: DE000A0V9L94; "Eyemaxx") suspends its forecast for the fiscal year 2019/2020 against the backdrop of the currently significantly reduced visibility of the further business development due to the "corona crisis". Eyemaxx had so far announced a moderate increase in earnings after taxes for the current fiscal year. The Sole Director and the Supervisory Board of Eyemaxx Real Estate AG will, moreover, propose to the ordinary General Meeting scheduled to take place on 16 June 2020 - according to the current status - to fully carry the net income for the year forward to new account and hence to waive the payment of a dividend. In this way the sound financial basis of Eyemaxx is to be further strengthened.
Eyemaxx considers that it is robustly positioned for the current crisis. The company can rely on a successful, proven business model as well as a good financial basis, which has been further extended through a fully placed capital increase in early March 2020. Eyemaxx intends to adjust to the current changes of the market environment caused by the pandemic and the associated political restrictions through reduced working hours, but with the same headcount during this extraordinary phase, with a reduction in personnel expenses. The Sole Director and the Management Team will in the meantime waive parts of their current remuneration.
Dr. Michael Müller, CEO of Eyemaxx Real Estate AG: 'We position Eyemaxx in such a way that we can flexibly respond to any changes and project delays in the current situation. At the same time, we are able to exploit any opportunities which might arise. We have the necessary financial resources which we will continue to consolidate and strict cost discipline. I appreciate and I am grateful that our employees support this programme during this phase. My colleagues on the management team and I want of course to lead by example and, therefore, waive 20 percent of our salary until we will be back to normal in our day-to-day work. I am convinced that our company will weather the crisis well and continue its success story.'
About Eyemaxx Real Estate AG
Eyemaxx Real Estate AG is a real estate company with a long-standing successful track record, focussing on residential properties in Germany and Austria. In addition, Eyemaxx also realises commercial properties in central Europe. In the company's recent past its corporate strategy has also included hotels and serviced apartments as well as developing urban districts in Germany.
Eyemaxx' business activities take a dual-pronged approach. These include high-margin projects and also the continued expansion of its stocks of let commercial properties, which generate ongoing rental income and thus constant cash flows. In so doing, Eyemaxx uses the expertise offered by its experienced management team together with a strong team of real estate professionals, and also a well-established and broad network which opens up additional access to attractive properties and projects. As a result, the current project pipeline has been grown to a total of around EUR 902 million.
The shares of Eyemaxx Real Estate AG are listed in the General Standard of the Frankfurt Stock Exchange and in the direct market plus on the Vienna Stock Exchange. The company has also issued several bonds, which are likewise listed on the stock exchange.
You can find more information at www.eyemaxx.com
Contact
Investor Relations / Financial Press
Axel Mühlhaus, Peggy Kropmanns
edicto GmbH
Telephone: +49 69 905505-52
Email: eyemaxx@edicto.de
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