solidare achieves a consolidated profit for the year of EUR 2.5 million in 2016
Publication of the consolidated financial statements postponed by two weeks
Malta, June 30, 2017: solidare real estate holding plc («solidare ») (MT0000580101 / A1JGT0 / XNH), a real estate company specializing in the growth market of micro-apartments, has generated a consolidated annual result of € 2.5 million in the year 2016. This profit is defined in the preliminary and unaudited consolidated financial statements.
Solidare is in the final phase of the audit of the consolidated financial statements 2016 by the auditors Deloitte. The final consolidated Financial Statements 2016 will be audited and published not later than 14 July 2017. The delay results from the fact of the acquisition of solidare real estate holding GmbH by the listed holding company during the reporting period. The final tax assessment of the effects of this transaction throughout the Group took place relatively late in the second quarter of 2017, but was compulsorily awaited for the preparation of the consolidated financial statements for 2016. All this lead to a later beginn of the audit of the consolidated financial statements.
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|Company:||solidare real estate holding plc|
St. Christopher Street 168
VLT 1467 Valetta
|Phone:||+356/21 22 75 53|
|Fax:||+356/21 22 76 67|
solidare real estate holding plc. is a listed real estate company that specializes in the growth market of micro-apartments, predominantly in Germany. Micro-apartments are furnished residential units with a floor area of between 20 and 50 m², which are mainly rented by singles, students, commuters and the elderly. The principal shareholder and CEO Zeki Yigit has been involved in real estate development for more than 15 years. With around 300 employees, solidare covers the entire value-creation chain from real estate identification, the structuring of the acquisition and financing, the planning and execution of the construction or conversion activities, marketing, ongoing administration and facility management. The Group pursues a dedicated growth strategy that aims at consolidating the market segment and enhancing efficiency by exploiting the comprehensive nature of the internal service portfolio.
This release may contain forward-looking statements based on current assumptions and forecasts made by the management of solidare or its affiliated companies. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of solidare and its affiliated companies and the estimates given here. Neither solidare nor its affiliated companies assume any liability to update these forward- looking statements or to adapt them to future events or developments.