March 19, 2020 / 6:37 AM / 18 days ago

BRIEF-Instone Real Estate FY EBIT Up At EUR 128.9 Mln

March 19 (Reuters) - INSTONE REAL ESTATE GROUP AG:

* FY ADJUSTED EARNINGS BEFORE INTEREST AND TAXES (EBIT) INCREASE BY AROUND 160% TO EUR 128.9 MILLION

* FY ADJUSTED REVENUES UP BY AROUND 98% TO EUR 736.7 MILLION

* LIMITED VISIBILITY AT PRESENT FOR 2020 FINANCIAL YEAR DUE TO CORONAVIRUS PANDEMIC

* INCREASED 2019 FORECAST MET AND PARTLY EXCEEDED

* NEGATIVE IMPACT OF CORONAVIRUS PANDEMIC MANAGEMENT BOARD EXPECTED ADJUSTED REVENUES OF EUR 600 MILLION TO EUR 650 MILLION

* OUTLOOK 2020: ADJUSTED GROSS PROFIT MARGIN OF 26% TO 27% AND AN ADJUSTED EBIT OF EUR 95 MILLION TO EUR 120 MILLION

* LIMITED VISIBILITY AT PRESENT FOR 2020 FINANCIAL YEAR DUE TO CORONAVIRUS PANDEMIC Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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