Mobimo: Less profit from development activities for third parties
Mobimo expects a lower contribution to earnings from development activities for third parties in the 2019 financial year than originally forecast.
According to Mobimo, the contribution to earnings from development activities for third parties in 2019 will remain low in the second half of the year due to "delays in project progress".
At the end of the first half of 2019, the real estate company had forecast that it would be substantially higher. The time required for official approval procedures is now postponing the planned realization of profits beyond the end of 2019, it is now said.
Meanwhile, Mobimo emphasized that the company's performance in the financial year was "solid". Rental income is increasing as planned, the completion and integration of the new sites is proceeding smoothly and the operational activities in the development and management of the portfolio are creating the basis for valuation gains. (ah)
