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Wednesday, December 4, 2024

Massive losses at the subsidiary Consus lead to value adjustments

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Steglitz roundabout

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The Berlin skyscraper is one of the projects of the Adler subsidiary Consus, which has been stalled for some time.

(Photo: Lars-Marten Nagel / HB)

Berlin, Dusseldorf The top manager of the real estate group Adler, Stefan Kirsten, only outlined ways out of the crisis for the badly hit company on Tuesday morning. But just a few hours later, KPMG’s auditors exposed him. The examiners turn away from Adler.

In a conference call to journalists, the top manager spoke of “very professional discussions with the auditors” and announced that in a few weeks the board of directors would again propose KPMG as auditor at the Adler general meeting.

“The goal is an unqualified attestation for the end of the 2022 financial year,” said Kirsten. Just a few hours later, he spoke up again: “After the last conference call, KPMG informed us that they were not available to act as auditors for the Adler Group. The decision was “extremely surprising for us, disappointing and irritating,” Kirsten said.

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