EQS-News: HELMA Eigenheimbau AG provides update on holiday property projects

HELMA Eigenheimbau AG provides update on holiday property projects

Lehrte, October 11, 2022 Among others, HELMA Eigenheimbau AG announced in an ad hoc notice on September 26, 2022 that according to information received, a significant subcontractor to the HELMA Group had applied for entry into insolvency proceedings. Meanwhile an official announcement has been made to this effect, with the result that the HELMA Group is now in a position to take further necessary steps and coordinate related details.

This subcontractor essentially acted as general contractor to the subsidiary HELMA Ferienimmobilien GmbH and was, as such, engaged in various projects. All other companies in the HELMA Group therefore remain unaffected by the aforementioned insolvency. HELMA Ferienimmobilien GmbH has meanwhile terminated its contracts with the general contractor on extraordinary grounds, on the basis that the requisite conditions are met.

As a building services provider and project developer active throughout Germany, the HELMA Group has amassed more than 40 years of experience, and is currently working at pace to make alternative arrangements to ensure the rapid and secure completion of the holiday properties originally contracted for with the general contractor. To this end, the company is in advanced discussions with predominantly regional building trade companies, some of whom were already actively involved in the respective projects.

The Management Board of HELMA Eigenheimbau AG is confident that by awarding contracts directly to these well-qualified companies, it will be successful in keeping any potential obstacles that may impede progress as short as possible and that construction work on all affected projects will continue in the course of the month of October.

About HELMA Eigenheimbau AG:
HELMA Eigenheimbau AG (HELMA) is one of the leading German building service providers offering the full service range. The focus is on the development, planning, sale and construction management of individually planned detached houses built on customers' properties applying the traditional solid construction method ("brick on brick"). Through the HELMA Wohnungsbau GmbH subsidiary which operates as a broadly diversified project and property developer the possibility also exists in various metropolitan regions across Germany to acquire individual dream houses together with suitable land plots on a one-stop-shop basis. Furthermore, HELMA Wohnungsbau GmbH realises high-quality semi-detached and terraced houses as well as apartment construction projects in sought-after locations.

With the realisation of holiday houses and apartments at locations enjoying well-developed infrastructures predominantly on the North Sea and Baltic Sea coasts, as well as at attractive locations on lakes, rivers and in low mountain regions in Germany the HELMA Ferienimmobilien GmbH subsidiary is meanwhile the leading company in its market segment. Its offering addresses mainly private customers for their own use or as a capital investment.

As a financing and building insurance broker, the Hausbau Finanz GmbH subsidiary completes the HELMA Group's product range.

Since it was founded in 1980, HELMA has transferred well over 10,000 attractive residential and holiday properties to satisfied customers. More than 400 employees and specialist advisors ensure that meanwhile around 1,000 further properties are added annually. HELMA we love to build for your life.

IR contact:
Daniel Weseloh, Investor Relations
Phone: +49 (0)5132 8850 221
E-Mail: ir@helma.de