Report

QuickView: Deeply discounted growth

Interim results from ADLER reflect the rapid progress that has been made in the past two years towards building a real estate portfolio that will be capable of generating attractive cash flows to underpin future sustainable distributions to shareholders. The balance of 2014 will focus on the integration of ESTAVIS (which completed on 25 June and appears in the balance sheet but has not contributed to H1 earnings) and further acquisitions to the real estate portfolio. Acquisitions immediately add to cash flow and increased scale offers operational and funding synergies. Consensus forecasts anticipate positive cash flow for the year.
Underlying
ADLER Real Estate AG

ADLER Real Estate provides commercial and residential project development services in the form of improvement, planning, development and construction, as well as asset management services and property management services. Adler is also engaged in the acquisition, sale, renting and financing of real estate. Co. also provides international and national joint venture activities and acts as co-investor in the acquisition of real estate portfolios.

Provider
Edison Investment Research
Edison Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

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