Noratis : publishes profit forecast for fiscal year 2017 - company expects pre-tax profit before IPO costs of around EUR 13.5 million

DGAP-Ad-hoc: Noratis AG / Key word(s): Forecast/Real Estate
Noratis AG publishes profit forecast for fiscal year 2017 - company expects pre-tax profit before IPO costs of around EUR 13.5 million

29-Sep-2017 / 12:09 CET/CEST
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Noratis AG (www.noratis.de), located in Eschborn near Frankfurt, is a dynamically growing portfolio developer of residential real estate. The company purchases properties with development potential across Germany, mostly employee dwellings and housing estates built from the 1950s to 1970s in cities with more than 10,000 inhabitants or on the outskirts of conurbations. After acquisition, Noratis significantly enhances the value of the properties and subsequently sells them in block sales or individually as condominiums. This strategy enables Noratis to conserve and offer affordable housing for tenants with medium and small incomes. Since 2014 alone, Noratis has successfully completed 15 projects comprising more than 1,500 residential units. The company generated revenues of EUR 44.6 million in fiscal year 2016 and has grown at an annual average of 63% since 2014.

Investor relations contact:

edicto GmbH
Axel Mühlhaus/ Dr. Sönke Knop
Eschersheimer Landstrasse 42
60322 Frankfurt
Phone: +49 69 905505-52
E-mail: noratis@edicto.de

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