FRANKFURT: LEG Immobilien , one of Germany's largest listed landlords, swung to a US$1.71 billion loss in 2023 as Europe's largest economy goes through its worst real-estate crisis in decades, figures on Monday showed.
Its loss for the year was 1.565 billion euros (US$1.71 billion), compared with net profit of 237.4 million in 2022.
"For LEG, the peak of the real estate crisis is behind us," Chief Executive Officer Lars von Lackum said in a statement. (US$1 = 0.9143 euros)