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.

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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.

    The publication of the annual financial statements of Lübke Kelber AG
                                              is planned for 31 May 2024.

                                                       About Lübke Kelber
       Lübke Kelber is a diversified, medium-sized real estate specialist
      with over 55 years of market and real estate expertise. The company
         operates nationwide with more than 90 specialists and offices in
   Berlin, Frankfurt, Munich, Stuttgart, Düsseldorf, Dresden and Leipzig.
      As part of an international alliance centred around Gerald Eve LLP,
   the company also provides its clients with global market access. Lübke
    Kelber's long-standing quality standards, coupled with continuity and
   reliability, guarantee clients a high success rate for sales mandates.
      In addition to transaction advice in the residential and commercial
   real estate sector, Lübke Kelber also offers institutional investors a
                 platform for asset and investment management in Germany.
                         More information at https://luebke-kelber-ag.de/

                            Contact Investor Relations / Financial Media:
                                                                 IR.on AG
                                                           Frederic Hilke
                                                            0221-914097-0
                                               (1)Luebke-Kelber@ir-on.com

1. mailto:Luebke-Kelber@ir-on.com


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10.05.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS
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   Language:       English
   Company:        Lübke Kelber AG
                   Taunusstr. 6
                   60329 Frankfurt/Main
                   Germany
   Phone:          +49 (0)69 99991400
   E-mail:         zentrale@luebke-kelber.de
   Internet:       www.luebke-kelber-ag.de
   ISIN:           DE000A35JR33
   WKN:            A35JR3
   Listed:         Regulated Unofficial Market in Dusseldorf
                   (Primärmarkt), Frankfurt
   EQS News ID:    1900447

End of News EQS News Service
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1900447 10.05.2024 CET/CEST