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CORESTATE publishes ESG report: Well above plan on key ESG targets

09/30/2021 | 01:02am EST

DGAP-News: Corestate Capital Holding S.A. / Key word(s): Sustainability/Real Estate
CORESTATE publishes ESG report: Well above plan on key ESG targets

30.09.2021 / 07:00
The issuer is solely responsible for the content of this announcement.

CORESTATE publishes ESG report: Well above plan on key ESG targets

  • Targets clearly exceeded: CO2 emissions in managed property portfolio reduced by 8%, energy consumption by 7% and water consumption by 14%, proportion of female managers increased by 9%.
  • Investors benefit from new sustainable financial products
  • Continuous expansion of digital, smart technology for measuring emissions from buildings
  • ESG due diligence process introduced in line with EU plans for climate neutrality by 2050
  • CEO Parmantier: We are very pleased that Focus-Money has named us "Germany's most valuable company" in the category of real estate investment companies according to the ESG study "Ecology, Economy & Social Value"

Frankfurt, September 30, 2021. CORESTATE Capital Group S.A. (Corestate), a leading independent real estate investment manager in Europe, continues to set itself high standards when it comes to sustainability objectives and maintains a responsible investment strategy to future-proof assets under management through an ESG due diligence process. Corestate has adopted ambitious environmental, social, and corporate governance (ESG) targets to align their business goals with sustainability goals.

The ESG report published today demonstrates the progress made in implementing the ambitious plans. For example, Corestate was able to reduce CO2 emissions/m² in managed properties by 8% compared to the previous year, six percentage points more than planned. Energy consumption/m² fell by 7% in the same period (target 5%). Water consumption was reduced by 1% (target 2 %).

René Parmantier, CEO Corestate Capital Group: "At Corestate, we aim to prove every day that we can make a significant social and economic contribution when it comes to our ESG objectives in the Real Estate industry and beyond. We are on the right track which is also reflected by the recently published ESG study "Ecology, Economy & Social Value" by Focus-Money, which named us "Germany's Most Valuable Company" in the category of real estate investment companies. Our quantifiable ESG targets and strategy set us apart from our peers as we not only deliver measurable results but also take action in aligning ourselves with the EU Green deal action plan.

Ashley Wester, Senior Associate ESG Corestate: "This year we standardised our ESG due diligence process to address physical climate risks and transitory risks implemented for all new acquisitions and offered our investors sustainable products aligned with the Sustainable Finance Disclosure Regulation SFDR at the beginning of the year. However, not to be left out, social and corporate governance are equally important to us and so we have made great strides in these aspects across the Group as well."

Streamlining data flow

Compared to the report from the previous year (covering FY 2018-2019), consumption emission data from 188 buildings, representing 15% more (+25 buildings), have now been recorded and taken into account. In addition, up-to 33,000 data points for consumption data for assets under management were reviewed, which represents an increase of around 85% compared with the analysis from last year. This was only made possible by improving data flow work streams and utilizing a centralised data platform. The data coverage is expected to increase even further once the roll-out of smart meters for the general electricity meters is completed, which should be expected at the turn of 2022/2023. Further smart-meter solutions for water and waste are also planned.

Diversity, non-profit and corporate governance

In addition to its environmental goals, Corestate is focusing particularly on social issues and corporate governance. The company has created structures and processes that specifically promote the advancement of women into leadership positions. The company has set itself to increase the proportion of female managers by 5% per year by 2025 and has clearly exceeded this with an increase of 9% compared to the previous year. However, diversity encompasses much more than gender. For this reason, Corestate established the "CORESTATE Capital Pride Network" (CCPN), CORESTATE's LGBTQ+ diversity group.

With the establishment of the Corestate Foundation at the end of 2019, the company supports local projects, associations and organisations whose work is dedicated to the betterment of the lives of children and young people. Notably, with 2020 being heavily impacted by COVID-19, the company was able to support seven local organisations.

Clear and transparent corporate governance is the basis of every business relationship for Corestate. Annual compliance and governance training for employees and managers, an expanded Code of Conduct, and ethics training are therefore central and recurring elements.

The ESG report is available online here: https://corestate-capital.com/wp-content/uploads/2021/09/esg-report-2021.pdf

Press contact
Jorge Person
T: +49 69 3535630-136 / M: +49 162 2632369

Investor Relations contact
Dr Kai Gregor Klinger
T: +49 69 3535630-106 / M: +49 152 22755400

About CORESTATE Capital Holding S.A. (CORESTATE)
CORESTATE is an investment manager and co-investor with around ? 27 billion in assets under management. The company sees itself as a manager for the entire length of the real estate value chain. Thanks to its fully integrated real estate platform, it is able to offer investors a wide range of services, especially the opportunity to invest in large-scale societal trends such as urbanisation, demographic shifts or sustainability - trends that will continue to have a decisive influence on the living and working environment in the long term. The consistent focus on asset classes that will be successful in the long run constitutes a central cornerstone of the company strategy. At CORESTATE, all concepts are supported with ESG expertise that is unique to the industry. With some 800 experts, CORESTATE offers clients and investors a full range of services and consultation from a single source, from project financing and real estate management to sales. CORESTATE is listed on the Frankfurt Stock Exchange and operates as a respected business partner for institutional and semi-institutional investors as well as high-net-worth private investors in 13 countries across Europe, with offices in Frankfurt, Vienna, Zurich, Paris, Madrid and London. Please visit www.corestate-capital.com for further information.

Forward-looking statements
This press release may contain certain forward-looking statements based on current assumptions and forecasts made by our management. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial position, development or performance of the Company and the estimates given here. These factors include those described in published reports. These reports are available on our website www.corestate-capital.com. The Company assumes no obligation whatsoever to update these forward-looking statements or to conform them to future events or developments. No inappropriate significance should be attached to forward-looking statements, which apply only to the date of this communication.

30.09.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de

Language: English
Company: Corestate Capital Holding S.A.
4, Rue Jean Monnet
L-2180 Luxembourg
Phone: +49 69 3535630-107
Fax: +49 69 3535630-29
E-mail: IR@corestate-capital.com
Internet: www.corestate-capital.com
ISIN: LU1296758029
WKN: A141J3
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 1236978

End of News DGAP News Service

1236978  30.09.2021 


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Analyst Recommendations on CORESTATE CAPITAL HOLDING S.A.
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Sales 2021 250 M 284 M 284 M
Net income 2021 34,9 M 39,5 M 39,5 M
Net Debt 2021 434 M 491 M 491 M
P/E ratio 2021 6,33x
Yield 2021 4,57%
Capitalization 262 M 296 M 296 M
EV / Sales 2021 2,78x
EV / Sales 2022 2,30x
Nbr of Employees 800
Free-Float 76,5%
Duration : Period :
CORESTATE Capital Holding S.A. Technical Analysis Chart | CCAP | LU1296758029 | MarketScreener
Technical analysis trends CORESTATE CAPITAL HOLDING S.A.
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus OUTPERFORM
Number of Analysts 4
Last Close Price 7,66 €
Average target price 16,00 €
Spread / Average Target 109%
EPS Revisions
Managers and Directors
RenÚ Parmantier CEO & Chairman-Management Board
Udo Giegerich Chief Financial Officer
Friedrich Munsberg Chairman-Supervisory Board
Tobias Gollnest Chief Investment Officer
Hermann Wagner Vice Chairman-Supervisory Board
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