Beno Holding AG: Light industrial asset manager and portfolio holder reports preliminary unaudited figures for the 2023 financial year

Munich; 05/06/2024 (pta006/05.06.2024/08:00) - BENO Holding AG (ISIN: DE000A11QLP3), a specialist portfolio holder and asset manager with a focus on light industrial properties, reports preliminary, unaudited business figures for the 2023 financial year. Consolidated revenue (net cold rent plus ancillary costs) amounted to around EUR 9.7 million in the 2023 financial year (previous year: EUR 8.9 million). This corresponds to an increase of around 9 %. Consolidated net income (EAT) amounted to around EUR 5.4 million in the year under review (previous year: EUR 2.9 million). Cash and cash equivalents amounted to EUR 4.9 million as of the reporting date (previous year: EUR 6.7 million). Operating cash flow amounted to around EUR 1.9 million in the year under review (previous year: EUR -0.09 million).

"The positive development of revenue, net income and operating cash flow in the year under review is mainly due to new additions (first full year), extensive portfolio investments and optimizations, index adjustments and a targeted spending policy.

The value potential in our portfolio is still considerable, given the very moderate average balance sheet valuation of around EUR 393 per square metre of building area (excluding land) compared to new construction costs of EUR 1,700 per square metre (excluding land) on average," explains Michael Bussmann, CEO of BENO Holding AG. "We are consistently focusing on the grey energy invested in old buildings in past decades and its considerable transformation potential."

About the company

BENO Holding AG is an asset manager specialising in operational real estate.

Thanks to the combination of asset manager and portfolio holder at the same time, the company can always operate from the owner's point of view. The consistently pursued approach of "buy, transform & hold" guarantees all stakeholders a long-term attractive, sustainable and profitable real estate investment. As a pioneer in the development and implementation of digital twins, BENO goes far beyond the role of a traditional portfolio holder. By working closely with technology partners in the new discipline of "Digital Twin", BENO is actively driving research and experimentation with innovative solutions. Assets under management (AUM) currently comprise 13 German locations with around 36 tenants and a usable area of around 158,000 m². The market value of the properties amounts to around 84 million euros.

(Ende)