2023-04-29 03:04:00
After a devaluation of real estate assets and value adjustments on receivables, the net loss rose to 1.67 billion euros from 1.17 a year earlier, as the company announced this week. The Linz investor Cevdet Caner also holds shares in the Adler Group.
The value of the Adler Group’s rental portfolio fell by around two percent to EUR 5.2 billion. The figures are unaudited because Adler has not yet found an auditor for the group following a dispute with the auditor KPMG.
Sale of other properties
The Adler Group reached an agreement with its creditors on financial restructuring in November, and a London court had confirmed the plan. The agreement was “a crucial milestone on the way to securing the group’s financial stability,” said the CEO Thierry Beaudemoulin. With the sale of further real estate portfolios, Adler is to be further reduced in debt. In the next two years, Beaudemoulin Adler wants to “develop into a residential real estate company focused on Berlin”.
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