Have you heard about the latest developments at PATRIZIA $PAT (-3,57 %) heard? The real estate asset manager has postponed its annual report due to a need to amend the 2022 and 2023 balance sheets. But don't worry, the profit target for 2024 remains unchanged! 👍
The company expects earnings before interest, taxes, depreciation and amortization (EBITDA) to be in the middle of the forecast range between 30 and 60 million euros. The adjustments to the balance sheets will only have a minimal impact on the key financial figures for the coming year and will not affect the operating business or liquidity.
The adjustments are due to the Whitehelm acquisition in 2022, for which contingent purchase price payments were agreed. These are now recognized as personnel expenses, which will lead to an increase in personnel expenses in the years 2022 to 2024.
The publication of the business figures for 2024 has been postponed to March 24. Stay tuned to see how this will affect the PATRIZIA share!