Publity AG Announces Negative Financial Results for 2023 Due to Non-Cash Adjustments

Frankfurt am Main, March 5, 2024 - publity AG reported a significant net loss of EUR -236.8 million for the fiscal year 2023, as per the audited annual figures released today. This loss is attributed to extensive non-cash value adjustments related to the restructuring of its subsidiary, PREOS Global Office Real Estate & Technology AG. This loss falls within the forecasted range of EUR -200 million to EUR -250 million and marks a decline from the previous year's loss of EUR -192.5 million.

The non-cash adjustments mainly affect the valuation of the PREOS convertible bond and the shareholding in PREOS on publity's balance sheet. Despite the losses, publity maintains a solid footing with total assets of EUR 254.4 million and an equity ratio of 53.1% as of December 31, 2023. Looking ahead, publity aims to expand its green asset management mandates in the current financial year and is in discussions with potential clients.

publity has made its 2023 annual financial statements available online and also announced an Annual General Meeting scheduled for April 11, 2024. Further information and access to the financial statements and AGM invitation can be found on the company's website.