Original-Research: Coreo AG (von GBC AG): Management Interview

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Original-Research: Coreo AG - von GBC AG

Einstufung von GBC AG zu Coreo AG

Unternehmen: Coreo AG
ISIN: DE000A0B9VV6

Anlass der Studie: Management Interview
Empfehlung: Management Interview
Letzte Ratingänderung:
Analyst: Cosmin Filker; Marcel Goldmann

In February 2022, Coreo AG announced the change of the management board. As
the successor of the previous board member Marin Marinov, Dennis Gothan is
the new CEO of Coreo AG. Mr Gothan will be supported by the new Chief
Financial Officer Michael Tegeder. Recently, the company also announced the
planned implementation of a capital increase. The rights issue, which will
take place between 25 April and 9 May 2022, is expected to raise gross
proceeds of up to EUR 5.51 million through the issue of 5.01 million new
shares. GBC analyst Cosmin Filker spoke to the new board of directors.

GBC AG: Mr Gothan, can you briefly say something about your background and
the background of your fellow board member Michael Tegeder?

Dennis Gothan: I am a real estate specialist from the ground up and worked,
among other things, for eight years as a real estate manager with a focus
on letting and transaction management for Strabag PFS. During this time, I
also obtained my certification as a transaction manager through EBS. And
after I received the offer to work for Coreo, I took a look at the company
and recognised its potential. I am sure that I will be able to contribute
my skills and impulses optimally in Coreo and in my function.

Furthermore, I am very happy that we were able to win Mr. Michael Tegeder
as Chief Financial Officer. He has excellent capital market expertise and
will be able to put his knowledge to excellent use. Furthermore, Mr Tegeder
brings a lot of experience in the field of finance and investor relations.

GBC AG: Coreo AG's strategy has so far been summarised under the catchword
value-creating growth strategy. This meant in particular the growth
strategy geared towards the acquisition of developable properties. Will you
stick to this strategy?

Dennis Gothan: My goal is 'growth' and I want to give Coreo AG a clear
direction and expand the company in the residential real estate sector. Our
focus is on the value-add segment. With our own and very experienced asset
management, I see great opportunities to be able to successfully implement
the potential and the strategies.

GBC AG: Are you sticking to the medium-term plan, according to which the
portfolio is to be expanded to EUR 400 - 500 million in the next four to
five years?

Dennis Gothan: Absolutely: we will continue to pursue the goal and are
clearly sticking to it. That was also the great attraction here - to build
up new substantial portfolios. I am looking forward to implementing this
together with our team.

GBC AG: You are currently planning to carry out a capital increase with a
gross volume of approximately EUR 5.5 million and use the money for further
growth. Are there any concrete investment opportunities?

Dennis Gothan: Yes, there are: For example, we have a well-filled pipeline
with attractive purchase opportunities. Furthermore, the inflowing funds
will be used to prepare the further growth of Coreo.

GBC AG: What relevant developments have taken place in the Coreo portfolio
in recent months?

Dennis Gothan: The most important thing is that we have compiled a full
inventory and identified the opportunities in the portfolio. In this
regard, a comprehensive catalogue of measures was developed in order to be
able to implement the ambitious growth steps. Ultimately, the appointment
of Mr Tegeder and the aforementioned capital increase are the first steps
in this direction.

GBC AG: How do you assess the impact of the corona pandemic or the
Ukrainian war on the business development of Coreo AG?

Dennis Gothan: Such severe crises naturally have their effects. As part of
our risk management, we monitor the market environment and interest rate
developments very closely. With regard to our portfolio and the real estate
sector, I do not expect any major losses in value in the long term. Our
financing is stable and sustainable. Real estate is still one of the safest
investment opportunities.

GBC AG: Mr Gothan, finally a question for investors with a long-term
investment horizon. Where will Coreo AG be in the next three to five years?

Dennis Gothan: With Coreo we currently have a company that has great
potential. The goal of building up a substantial portfolio is clear. We
have already set the first course to make this growth possible. I am
extremely pleased to be able to contribute all my experience and energy to
Coreo and to implement the growth strategy together with the excellent
Coreo team.

GBC AG: Mr Gothan, thank you very much for the interview.

Die vollständige Analyse können Sie hier downloaden:
http://www.more-ir.de/d/23951.pdf

Kontakt für Rückfragen
GBC AG
Halderstraße 27
86150 Augsburg
0821 / 241133 0
research@gbc-ag.de
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Offenlegung möglicher Interessenskonflikte nach § 85 WpHG und Art. 20 MAR Beim oben analysierten Unternehmen ist folgender möglicher Interessenkonflikt gegeben: (4,5a,5b,6a,11); Einen Katalog möglicher Interessenkonflikte finden Sie unter:
http://www.gbc-ag.de/de/Offenlegung.htm
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Date (time) completion: 28.04.2022 (3:55 pm)
Date (time) first distribution: 29.04.2022 (10:00 am)

-------------------übermittelt durch die EQS Group AG.-------------------

Für den Inhalt der Mitteilung bzw. Research ist alleine der Herausgeber bzw.
Ersteller der Studie verantwortlich. Diese Meldung ist keine Anlageberatung
oder Aufforderung zum Abschluss bestimmter Börsengeschäfte.

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Quelle: dpa-AFX