Annual Accounts for 2019: DEAS achieves fine results

Press release: In 2019, the DEAS Group achieved revenue growth of 19.8% compared to 2018. Revenue increased from DKK 550.9 million in 2018 to DKK 659.8 million in 2019, while EBITDA amounted to DKK 92.8 million in 2019.

This is definitely a satisfactory result that emphasises how DEAS is a strong company with a broad range of products and an attractive and reliable value offering to the market. We’re pursuing our growth strategy, and the result is a consequence of how in 2019 we have delivered fine results to our customers and good service to our tenants, while staying focused on our costs,

says Henrik Dahl Jeppesen, CEO of the DEAS Group.

On the other hand, I already need to emphasise that we are rather uncertain about our performance in 2020, due to the Covid-19 pandemic. But I’m in no doubt that both our revenue and earnings will be affected negatively. Our primary focus right now is to ensure a continued high service level, while supporting and helping our customers and tenants,

he says.

Many new customers and properties

The significant increase in revenue is a consequence of the acquisition of Nordea Ejendomme, together with the influx of many new customers and exciting projects.

2019 has been a really exciting year in which a number of Danish and international customers entrusted us with the management of their properties. We thus have more than 300 new properties in our portfolio and have welcomed many new customers,

says Henrik Dahl Jeppesen.

As an example, the global investment management company Invesco entered into an agreement with DEAS to manage the company’s Danish property portfolio, while Agat Ejendomme and CapMan Real Estate are further examples of new collaboration.

A strong offering within both Property and Asset Management

At the end of 2018, DEAS acquired Nordea Ejendomme, in order to strengthen our overall value offering to customers with a strong asset management set-up as a supplement to the property administration element.

2019 was also the year in which we began to harvest the fruits of successful integration with Nordea Ejendomme, and we now have an effective delivery apparatus in place, with strong breadth and strength in our business activities. This ensures a strong value offering for customers,

says Henrik Dahl Jeppesen.

In 2019, we invested in building up a strong asset management business with many competent profiles to meet the increased demand for professional asset managers in the market.

DEAS will take the lead within sustainability and digitalisation

In 2020, DEAS will in particular be investing in two large and important focus areas, which are digitalisation and sustainability.

In 2019, we’ve undergone a structured strategy process in terms of both sustainability and digitalisation, because we wish to take increased responsibility for running a sustainable business with a positive impact on people and the environment. We’re looking forward to revealing the strategies and providing a roadmap for our work in the coming years,

says Henrik Dahl Jeppesen, before continuing:

DEAS will also take the lead in creating valuable digital solutions. In 2020, we will therefore present some exciting new solutions for customers and tenants, including improved reporting to even more clearly reflect customers’ business performance, and a greater degree of self-service, making it easy to be a DEAS tenant.

Despite the great uncertainty concerning Covid-19, the company intends to continue the significant investments in both digitalisation and sustainability. Among other things, DEAS recently entered into an agreement with the leading digital consultancy Valtech on the development and upgrading of the residential letting portal.

We wish to create a letting platform to ensure the right match between owner, tenant and home, thereby paving the way to fulfilling the Danes’ housing dreams,

says Henrik Dahl Jeppesen.

Published 17. April 2020