DGAP-Adhoc: Corestate Capital Holding S.A.: CORESTATE with audited financial statements for 2021

Frankfurt, 20 April 2022 - Corestate Capital Holding S.A. (Corestate) today announces the final and audited results for the financial year 2021. The auditor Ernst & Young has concluded all its advanced audit procedures.

The aggregated revenues and gains reported on 8 March 2022 with regard to continued operations remains unchanged at 215.4m. In relation to valuations, the Management Board has established additional risk provisions and carried out value adjustments in coordination with the auditor. As part of this, the goodwill of Helvetic Financial Services (HFS) was impaired by a total of 175m to 345m. In addition, risk provisions totaling 46m were recognized as an expense, in particular for current balance sheet items with critical maturities. This subsequently led to deviations from the preliminary results for 2021 published at the beginning of March: adjusted EBITDA now amounts to 43.8m. The reported EBITDA from continued business activities comes to 26.4m. Adjusted net profit stands at 23.7m, reported adjusted net profit from continued activities in 2021 totals to -192.8m.

The Annual Report 2021 including audited consolidated financial statements will be publishes on 21 April 2021.

Notifying person:
Dr. Kai Klinger
T: +49 69 3535630-107 / M: +49 152 22755400
ir@corestate-capital.com