Instone Group Reports Steady Performance Despite Market Challenges

Instone Real Estate Group SE announced a solid performance in H1-2024 with adjusted revenues of EUR 255.4 million, down from EUR 279.5 million in H1-2023, aligning with expectations amid a challenging industry environment. The company's adjusted gross profit margin remained high at 25.7%, close to H1-2023's 25.8%, reflecting the strength of its projects and cost management.

Sales reached EUR 121.9 million, significantly higher than the previous year's EUR 71.1 million, indicating a moderate recovery in demand expected to continue in the second half of the year. Adjusted earnings after tax stood at EUR 20.5 million, down from EUR 23.9 million in H1-2023, yet on track to meet full-year targets.

Instone's strong balance sheet and strategic acquisitions in key markets like Frankfurt and Dusseldorf position the company for future growth. The company's solid ratio of net debt to contract assets plus inventories at cost (15.8%) supports financial stability and potential for ongoing profitability.

With expected adjusted revenues of EUR 500 to 600 million and adjusted earnings after tax of EUR 30 to 40 million for 2024, Instone remains confident in its financial outlook and ability to navigate an evolving market landscape.