DGAP-Ad-hoc: TTL Beteiligungs- und Grundbesitz-AG / Key word(s): Forecast
As planned, TTL Beteiligungs- und Grundbesitz-AG ("TTL", "TTL AG") (ISIN DE0007501009) closed the 2018 financial year with excellent results.
TTL AG's consolidated net profit more than quadrupled in 2018 from EUR 0.9 million in 2017 to EUR 4.1 million. Thereof, EUR 3.3 million are attributable to the shareholders of TTL AG. The earnings increase was primarily due to the expansion of the existing TTL investment portfolio. Amongst others, the company increased its indirect stake in the GEG German Estate Group (GEG) from an average of 17 percent to 34 percent in 2018. Earnings per share rose from 5 Euro-cents in the previous year to around 19 Euro-cents in 2018.
The investment and interest income of the TTL Group amounted to EUR 6.2 million, more than five times the previous year's amount of EUR 1.2 million. The main reason for this is the increased investment portfolio and the highly positive business development of the portfolio companies. The investment in the GEG alone contributed approximatley EUR 6.9 million (previous year: EUR 0.9 million) to the TTL Group result.
For the current financial year 2019, the earnings effects from the expansion of the investment portfolio in 2018 will be fully reflected in the Group's results. Based on today's forecast, TTL AG anticipates a significant increase in investment income and expects a consolidated net income of more than EUR 6 million in 2019.
The 2018 Annual Report will be available on 19 February 2019 on the TTL AG website under the following link:
14-Feb-2019 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
|Company:||TTL Beteiligungs- und Grundbesitz-AG|
|Phone:||+49 (0)89 381611-0|
|Fax:||+49 (0)89 3915-92|
|Listed:||Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange|
|End of Announcement||DGAP News Service|
776071 14-Feb-2019 CET/CEST