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Business Summary: Coreo AG is a Germany-based investment company engaged in the real estate sector. The Company's investment strategy is focused on the acquisition and management of commercial real estate, in particular office and retail properties in Germany's business centers, with the goal of generating stable long-term rental income. In addition, the Company invests in residential properties in major German conurbations. The Company's commercial property portfolio consists of approximately 52.000 square meters of leasable space. The residential property portfolio totals approximately 20.000 square meters of leasable space. The Company can also hold non-strategic properties for resale.
Financial Summary: BRIEF: For the six months ended 30 June 2023, Coreo AG revenues increased 3% to EUR3.7M. Net loss decreased 12% to EUR1.7M. Revenues reflect Rent revenues increase of 13% to EUR3.2M. Lower net loss reflects Sale of properties-value of properties decrease of 34% to EUR520K (expense), Legal Provisions & Litigation Expenses decrease of 81% to EUR50K (expense), Other operating expense decrease of 15% to EUR619K (expense).