PATRIZIA AG: Strong second quarter 2020 - PATRIZIA confirms guidance for FY 2020
Augsburg, 21 July 2020. Based on preliminary calculations, PATRIZIA will report an operating income of EUR 74.1 million for the first half of 2020. This corresponds to an operating income for the second quarter of 2020 in the amount of EUR 49.4 million after EUR 24.7 million in the first quarter of 2020.
Despite the corona pandemic, PATRIZIA was able to successfully execute selected property acquisitions and disposals in the segment of high-quality properties for its institutional, (semi-)professional and private investors in a difficult market environment. The above-average investment performance realised for clients in this process significantly increased PATRIZIA's performance fees compared to the first quarter of 2020.
On the basis of the overall strong first half of 2020, PATRIZIA confirms its forecast for the operating income for the fiscal year 2020 in the amount of EUR 100.0 - 140.0 million.
PATRIZIA will announce further details as planned on 6 August 2020 with the publication of the interim report for the first half of 2020.