EQS-Adhoc: HELMA Eigenheimbau AG adjusts forecast

HELMA Eigenheimbau AG adjusts forecast

Lehrte, 15 June 2023 – HELMA Eigenheimbau AG announces adjustment to its forecast for the 2023 financial year.

The main premise behind the forecast for the 2023 financial year released with publication of the preliminary figures on 07.03.2023 was initially modest demand steadily improving over the course of the year. However, stubbornly high interest rates, consistently high building costs and ongoing inflation continue to weigh heavily on private buyers’ and institutional investors’ willingness to invest in the residential and holiday property sectors. Consequently, the relevant market segments have not opened up to the extent foreseen in the budget. The macroeconomic environment remains very challenging.

Based on market trends in the first half of 2023, HELMA has now revised its estimates for the coming months downwards and is no longer expecting demand to strengthen appreciably in the second half of the year. As a result, the Management Board decided at its meeting today to adjust the forecast and is now expecting revenues for the whole of 2023 to come in between € 220 million and € 260 million with negative earnings.

A detailed presentation of business development in the first half of 2023 and progress made on the strategic realignment of the HELMA Group will be announced on publication of the half-year report on 10.08.2023.

IR contact:
Elaine Heise, Investor Relations
Tel.: +49 (0)5132 8850 345
Email: ir@helma.de

1658179  15-Jun-2023 CET/CEST