Ad Hoc | Disclosure of inside information according to Article 17 of Regulation (EU) No 596/2014

:be AG conducts negotiations on the acquisition of a German planning company

The Management Board of :be AG (ISIN: AT0000A2SGH0) is currently conducting negotiations with the aim of acquiring 100% of the shares in a German planning company. The acquisition of the company would have a significant impact on the :be Group's net assets, financial position and results of operations. Compared to :be's consolidated operating performance of EUR 45.1 million in the 2023 financial year, the target company generated a total operating performance of around EUR 7 million in the same period.

Contact
:be AG
Stefan Ruedl
Management Board / CFO
Millennium Park 20, 6890 Lustenau, Austria
www.be-ag.eu

Translated with DeepL.com (free version)

Ad hoc announcement | Publication of an inside information acc. to Article 17 of Regulation (EU) No 596/2014

Preliminary consolidated results for 2023

The current financial statements for the 2023 financial year of :be AG (ISIN: AT0000A2SGH0) provisionally show an operating performance (comprising revenue, other operating income and the result from investment property) of EUR 45,083 thousand (2022: EUR 42,558 thousand), an operating result (earnings before taxes, EBT) of EUR 2,422 thousand (2022: EUR 5,064 thousand) and a consolidated net profit for the year of EUR 1,529 thousand (2022: EUR 3,713 thousand) at Group level.

When the forecast was last updated on 14 May 2024, the Executive Board had not yet been able to narrow down the operating result due to several extraordinary effects. This was primarily due to the negative industry environment (project-related provisions totalling EUR 1,770 thousand) and one-off effects resulting from the streamlining of the investment structure (totalling EUR 380 thousand).  

Contact

:be AG
Stefan Ruedl
Vorstand / CFO
Millennium Park 20, 6890 Lustenau, Österreich
www.be-ag.eu

Publication of inside information in accordance with Article 17 of Regulation (EU) No 596/2014
Informal translation without notarization

Preliminary consolidated figures 2023

As part of the ongoing preparation of the financial statements for the 2023 financial year of :be AG (ISIN: AT0000A2SGH0), there are deviations from the forecast figures at Group level last reported in an ad hoc announcement on December 11, 2023.

Although the operating performance (comprising revenue, other operating income and the result from investment property) is therefore around EUR 1.5 million higher and is expected to reach EUR 45.1 million (last reported: EUR 43.6 million; 2022: EUR 42.6 million) in connection with adjusted accruals, the earnings figures remain below expectations. Operating earnings (earnings before taxes, EBT) will fall well short of the most recently reported figure of EUR 3.6 million (2022: EUR 5.1 million). The Executive Board is not yet able to provide a concrete, reliable figure for the operating result as the financial statements include several extraordinary effects, the overall impact of which is still uncertain. The deterioration in earnings is due to necessary project-related provisions and various bad debt allowances across several companies in the :be Group.

Contact

:be AG
Stefan Ruedl
Management Board / CFO
Millennium Park 20, 6890 Lustenau, Austria

www.be-ag.eu

Ad-hoc announcement | Publication of Insider Information pursuant to Article 17 of Regulation (EU) No. 596/2014

Board of Directors Adjusts 2023 Annual Forecast

In light of project shifts, delays, and lower-than-expected participation income in the current challenging economic environment, the Board of Directors of :be AG (ISIN: AT0000A2SGH0) must adjust the earnings forecast for the ongoing fiscal year 2023. Previously, the Board had anticipated an increase in both the operating performance (composed of revenues, other operating income, and income from financial investments in properties) based on won competitions and a high order backlog, as well as the consolidated annual result of the :be Group compared to the previous year 2022.

As expected, the operating performance is projected to exceed the previous year's level with approximately EUR 43.6 million (2022: EUR 42.6 million). However, the consolidated annual result (2022: EUR 3.71 million) is expected to fall below the previous year's value. Currently, the Board anticipates an operating result (earnings before taxes, EBT) of approximately EUR 3.6 million for 2023 (2022: EUR 5.1 million; including a special effect of approximately EUR 0.9 million from IAS 40, property valuation).

Despite a consistently strong order situation, :be AG is suffering from the challenging conditions in the overall real estate market, marked by rising interest rates, increased construction and energy prices, and faced with delays and shifts in project execution. Short-term project delays could not be offset promptly through cost reductions. Additionally, there are precautionary provisions for damage cases related to a larger project and occasional adjustments for receivables. The growth strategy pursued by :be AG, realized through startups and corporate acquisitions, has indeed led to corresponding earnings contributions as planned. However, these contributions fell short of expectations against the backdrop of the dimmed economic environment.

contact
:be AG
Stefan RuedlVorstand / CFO
Millennium Park 20, 6890 Lustenau, Österreich
www.be-ag.eu