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OFFON

CORESTATE CAPITAL HOLDING S.A.

(CCAP)
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PRESS RELEASE : Udo Giegerich to become new CFO of CORESTATE - tone from the top for investment

07/20/2021 | 01:01am EDT
DGAP-News: Corestate Capital Holding S.A. / Key word(s): Real Estate/Personnel 
Udo Giegerich to become new CFO of CORESTATE - tone from the top for investment 
2021-07-20 / 07:00 
The issuer is solely responsible for the content of this announcement. 
=---------------------------------------------------------------------------------------------------------------------- 
Udo Giegerich to become new CFO of Corestate - tone from the top for investment 
  . Gollnest named CIO DACH and will report to CEO Parmantier 
  . Giegerich to take over as CFO effective 1 August 
  . Additional expertise for transformation and digitalisation 
  . Structured process initiated for search for new COO 
  . Hübener and Löhken to step down from Management Board effective 31 July 
Frankfurt, 20 July 2021 - The Supervisory Board of CORESTATE Capital Holding S.A. has appointed Udo Giegerich for a 
three-year term as the company's new Chief Financial Officer (CFO) and member of the Management Board with effect from 
1 August. 
The 52-year-old mathematical economist comes from Uniper SE. As Head of Group Finance & Investor Relations he was 
responsible for developing the finance function and investor relations. After starting his career as a consultant at 
firms such as KPMG and EY, Giegerich transitioned to the corporate side in 2003 as CFO for gas and electricity at OMV 
AG in Austria before moving onto the Austrian state property management company Bundesimmobiliengesellschaft and 
50Hertz Transmission GmbH, where Giegerich served as Managing Director and CFO. 
Friedrich Munsberg, Chairman of the Supervisory Board at Corestate, says: "I am very pleased that we were able to 
attract a proven and experienced financial expert, with many years of institutional expertise as CFO and transformation 
process, to our company in the person of Udo Giegerich. He will further strengthen the Group's finance function and its 
relationships with investors." 
Udo Giegerich says: "I am truly looking forward to my new duties at CORESTATE. The company's tremendous potential and 
the experienced management team is what motivated me to take this step. I aim to roll up my sleeves and help bring 
CORESTATE onto a sustainable growth trajectory." 
Management Board realignment and streamlining 
As part of the efforts to realign and streamline the Management Board, CORESTATE links its investment department more 
closely with market-related functions and underscores its importance by allocating it directly to CEO René Parmantier. 
Tobias Gollnest becomes new Chief Investment Officer (CIO) DACH. 
Gollnest (47) is a lawyer by training and has been with CORESTATE since 2014, most recently serving as Group Head of 
Investment and Group Head of Commercial Real Estate. Prior to joining the company, Gollnest held inter alia senior 
positions at the investment bank Merrill Lynch and at Barclays Capital. 
Dr Katharina Kneisel has been appointed Group General Counsel. Kneisel has been with CORESTATE since early 2019 and 
most recently served as Group Head of Legal. A fully qualified lawyer, she has extensive expertise in the fields of 
corporate, capital market and regulatory law, having previously spent many years working for the international law firm 
CMS Hasche Sigle. 
Current CIO Nils Hübener and Chief Legal & HR Officer (CLHRO) Daniel Löhken will step down from the Management Board on 
31 July 2021 and from the Company on 31 August 2021. The separation is taking place at the request of both gentlemen, 
for personal reasons and on the best of terms. The position of Chief Operating Officer (COO) with a focus on 
digitalisation and process optimisation is newly created, A structured search is already under way. 
Supervisory Board Chairman Munsberg: "Appointing a COO is the last step in restructuring the Management Board. The goal 
of the Supervisory Board was to significantly accelerate digitalisation and process optimisation. As a result, the most 
senior management positions will have been filled in such a way so that Corestate is ideally positioned for the 
future." 
Munsberg has words of thanks for the Management Board members stepping down: "It is with great regret that we complied 
with the wish expressed by Mr Hübener and Mr Löhken to end their employment relationships at Corestate for personal 
reasons. Mr Hübener has worked for our Group since April 2020 and has been responsible for the core Investment 
Management, Asset & Property Management and Research areas, which he has helped to advance and shape with tremendous 
personal dedication. Mr Löhken has worked for our Group since March 2018 and has been instrumental in forming the areas 
in his purview during that time with professionalism and tremendous personal commitment, including Human Resources, 
Legal, Compliance, Risk Management and ESG. On behalf of the entire Supervisory Board, I would like to thank Mr Hübener 
and Mr Löhken for a close and trusting working relationship and wish both of them all the best in their personal and 
professional endeavours." 
Press Contact 
Jorge Person 
T: +49 69 3535630-136 / M: +49 162 2632369 
jorge.person@corestate-capital.com 
Investor Relations Contact 
Dr Kai Klinger 
T: +49 69 3535630-106 / M: +49 162 1036025 
ir@corestate-capital.com 
 
About CORESTATE Capital Holding S.A. (CORESTATE) 
Corestate is an investment manager and co-investor with around EUR 28 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 11 countries 
across Europe, with offices amongst others 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. 
=---------------------------------------------------------------------------------------------------------------------- 
2021-07-20 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 
              Luxemburg 
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:  1220087 
 
End of News   DGAP News Service 
=------------ 

1220087 2021-07-20

 
Image link: 
https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=show_t_gif&application_id=1220087&application_name=news 
 

(END) Dow Jones Newswires

July 20, 2021 01:00 ET (05:00 GMT)

Stocks mentioned in the article
ChangeLast1st jan.
CORESTATE CAPITAL HOLDING S.A. 3.72% 12.54 Delayed Quote.-14.11%
OMV AG 2.02% 52.56 Delayed Quote.56.12%
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Analyst Recommendations on CORESTATE CAPITAL HOLDING S.A.
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Financials
Sales 2021 246 M 288 M 288 M
Net income 2021 34,9 M 40,9 M 40,9 M
Net Debt 2021 434 M 508 M 508 M
P/E ratio 2021 10,4x
Yield 2021 2,71%
Capitalization 429 M 502 M 502 M
EV / Sales 2021 3,50x
EV / Sales 2022 2,89x
Nbr of Employees 804
Free-Float 74,2%
Chart CORESTATE CAPITAL HOLDING S.A.
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
TrendsBearishNeutralBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 5
Last Close Price 12,54 €
Average target price 15,70 €
Spread / Average Target 25,2%
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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