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The depreciation of Consus will ruin the 2021 consolidated financial statements of the Adler Group

Hochhausskelett

On the construction sites of the subsidiary Adler Consus, such as here at the Steglitzer Kreisel in Berlin, there is hardly any progress. This affects the budget. The group cancels a billion from Consus.

(Photo: Bloomberg)

Berlin, Zurich, Dusseldorf Anyone looking through the Adler Group’s annual report from the beginning can easily get the impression that 2021 has gone well for the real estate group. The document, which Adler released on Saturday evening, claims at the very beginning that rental income has grown to nearly € 500 million. The vacancy rate is a low 1.1 percent.

A press release cites good news from board members. “The operating base of the Adler Group is stable and solid and we are making progress in improving our capital structure,” says CEO Maximilian Rienecker. His colleague Thierry Beaudemoulin said: “The Adler Group has a valuable portfolio and an attractive development pipeline of projects in the best locations.”

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