Ad hoc announcements pursuant to Art. 17 MAR

11.12.2023 / 13:52 CET/CEST

Ad-hoc announcementPublication 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.


:be AG

Stefan RuedlVorstand / CFO
Millennium Park 20, 6890 Lustenau, Österreich