In mid-May, Adler admitted that the Consus Real Estate subsidiary was in trouble.
(Photo: imago images/Achille Abboud)
Dusseldorf At the ailing Adler Group, the leverage (LTV) continued to rise in the first quarter. The LTV ratio at the end of the first quarter was 52 percent, at the end of December the real estate investor had reported 50.9 percent, as announced on Monday. As a result of the sale of apartment packages, operating income (FFO 1) shrank to around EUR 29 (32) million in the quarter. According to its own statements, the Adler Group still has around 27,000 apartments.
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