Despite 2023 Sales Slump, The Grounds Anticipates Positive 2024 Financial Outlook

• The Grounds Real Estate Development AG ended 2023 with a decline in sales revenues and negative consolidated earnings.
• Consolidated sales revenues reduced to EUR 23.9 million, a decrease of 35% from the previous year's EUR 36.8 million.
• Consolidated EBIT declined to EUR -4.8 million, compared to EUR 3.4 million in the previous year.
• The consolidated balance sheet total increased by around EUR 9.0 million to EUR 147.8 million.
• The decline in sales revenues was partly due to the cancellation of the contract for the sale of the Terra Homes project.
• The company has a positive outlook for 2024, expecting significantly higher sales and a balanced Group EBIT.

The Grounds Real Estate Development

+0,68 %

0,00 %

+25,64 %

+8,09 %

-50,67 %

-69,63 %

-60,70 %

-60,70 %

-70,00 %

ISIN:DE000A2GSVV5WKN:A2GSVV

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