ACCENTRO Real Estate AG Responds to BaFin Audit Findings

Berlin, 20 December 2024 – BaFin, Germany's financial supervisory authority, has completed audits on ACCENTRO Real Estate AG. The focus was on accounting related to the reversal of the DIM Holding AG acquisition in the 2021 and 2022 financial statements. BaFin identified overstated receivables and assets of EUR 5 million for 2021 and EUR 12 million for 2022, citing unrealistic expectations for receivable repayment and overvalued collateral.

Despite BaFin's findings, ACCENTRO has already adjusted the asset value by EUR 13.3 million as of September 2023, influenced by real estate market conditions and successful liquidation efforts. The remaining receivable stands at EUR 4.4 million. ACCENTRO acknowledges the need for impairment but disputes the timing of recognition due to market uncertainties.