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Lübke Kelber publishes preliminary figures for the 2023 financial year

EQS-News: Lübke Kelber AG / Key word(s): Preliminary Results/Forecast Lübke Kelber publishes preliminary figures for the 2023 financial year 10.05.2024 / 10:47 CET/CEST The issuer is solely responsible for the content of this announcement.

Lübke Kelber publishes preliminary figures for the 2023 financial year   Frankfurt a. M., 10 May 2024 -Lübke Kelber AG (ISIN: DE000A35JR33) announces its preliminary business figures in the course of the first-time preparation of annual financial statements for the AG, which was reorganised at the end of 2023. As already published, Lübke Kelber AG, as the holding company of the Lübke Kelber real estate group, significantly increased its equity to EUR 17.8 million (previous year: EUR -0.1 million) through the contribution of its operating subsidiary Dr Lübke & Kelber GmbH. Due to the costs of restructuring under company law and legal costs, earnings before interest and taxes (EBIT) totalled EUR -0.42 million (previous year: EUR -0,62 million).   In terms of operating business, Dr Lübke & Kelber GmbH and its subsidiaries increased sales to EUR 8.7 million in the 2023 financial year. The transaction volume of the business handled by the company totalled around EUR 850 million. EBIT amounted to EUR -1.6 million and was therefore in line with the communicated expectations. The main reasons for the negative result are higher costs due to the anti-cyclical increase in personnel against the market trend as well as the successful expansion of asset and investment management with around 3,000 flats, which entailed extraordinary costs. In addition, there were impairments on receivables and the postponement of some property sales expected for 2023 to 2024.   Based on the investments made in personnel, locations and the already high secured sales pipeline and expansion of the investments in the Group, the Executive Board expects a positive EBIT of over EUR 1.0 million for the GmbH and its subsidiaries in the 2024 financial year, and thus also a positive result for Lübke Kelber AG via the investment income.