The Steglitzer Kreisel in Berlin is one of the group’s real estate projects.
(Photo: Nagel/Handelsblatt)
Munich In the case of the real estate investor Adler Group, the balance sheet equity of the parent company has been completely exhausted. According to current calculations, according to Luxembourg accounting regulations, it will even be negative at around 300 million euros as of the end of 2022, as the Luxembourg-based company announced on Friday.
Nevertheless, Adler is not overindebted. Taking into account hidden reserves, the net asset value (NAV) is “clearly positive”, emphasized the heavily indebted company, which is currently struggling with its creditors to restructure. A London court recently approved the restructuring plan.
The unaudited business figures for the past year are to be published as planned on Tuesday (April 25), and thus before the end of the deadline set by the stock exchange. Adler is still looking for an auditor. The shareholders must be informed about the loss of equity in the next two months at a general meeting.
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