TTL Publishes Annual Report 2023

On June 28, 2024, TTL Beteiligungs- und Grundbesitz-AG released its Annual Report for 2023, revealing significant challenges in the commercial real estate market. The difficult financing conditions and unfavorable macroeconomic environment affected transaction activities, resulting in a decline in earnings compared to the previous year.

The performance of TTL's investments varied in 2023. Montano Real Estate GmbH concluded successful transactions worth EUR 270 million, contributing EUR 0.54 million to earnings, slightly down from the previous year. Branicks Group AG, however, saw a decrease in assets under management to EUR 13.2 billion and reorganized its financial structures for future stability.

TTL's financial result was negatively impacted by Branicks' performance and other impairments, leading to a consolidated pre-tax loss of EUR -14.0 million. Consequently, no dividend payment is planned for 2023. Moving forward, TTL's strategy focuses on financial stability and cost-cutting measures.

The outlook for 2024 remains cautious, anticipating continued challenges in the commercial real estate market and a negative consolidated result before taxes. TTL plans no active investments for the year, prioritizing consolidation instead.