NAVSTONE SE: Update on the current business development in the first half of 2023 and outlook full year 2023

Eindhoven, October 2, 2023 – NAVSTONE SE, listed on the m:access of the Munich Stock Exchange (ISIN NL0009538008 / WKN A1CUJD), reports on its business development in the first half of 2023 and provides an outlook for the financial year 2023.

NAVSTONE SE performed well in the first half of 2023. In particular, the expansion of the real estate portfolio in Dublin was advanced. The total value of the portfolio, which now comprises 9 properties, amounted to around EUR 15.2 million at the end of the first half of 2023. After completion of the renovation work in September 2023 and now that all properties are fully let, the annualized rental income amounts to more than € 1.4 million.

Equity as at 30 June 2023 amounted to € 15.9 million (31 December 2022: € 16.0 million); this corresponds to an equity ratio of around 90%. Total assets as of 30 June 2022 amounted to € 17.5 million.

Turnover doubled from € 0.3 million in the previous year to € 0.6 million in the reporting period. The operating result was clearly positive at €0.3 million (previous year: € -0.1 million), while the after-tax result was slightly negative at € -0.1 million (previous year: € 0.5 million) due to a negative financial result.

NAVSTONE SE is managed as a real estate company based on NAV. The net value of the assets held by the company as of the reporting date 30 June 2023 is around EUR 15.9 million. With 4,401,235 shares outstanding as of the reporting date, the NAV of the company is accordingly EUR 3.61 per share.

The refinancing of the existing real estate portfolio and the associated expansion of the real estate portfolio to around EUR 25 million will be slowed down due to the market conditions and, if necessary, accelerated again at a later date.

For the full year 2023, NAVSTONE SE plans a positive result, depending on the current capital market environment and the repayment of the project financing in Q4 2023.

The half year report is available on the website

For further information please contact our investor relations team directly:

Investor Relations

t.: +49 89-30659216

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