Deutsche Grundstücksauktionen - Berlin rent cap coupled with coronavirus
Lower trade volumes resulted in Deutsche Grundstücksauktionen (DGA) reporting an almost 70% y-o-y decrease in net profit for FY19 (€0.5m). The decline is almost fully attributable to the parent company, which in H219 started to suffer from declining demand in anticipation of the Berlin rent cap, effective from February 2020. This was in part offset by the improved performance of the fully owned subsidiaries, which collectively doubled their income in FY19 due to real estate market development in up-and-coming cities. As a result of the coronavirus outbreak management decided to recommend a dividend pay-out ratio below 50%, resulting in dividend per share of €0.15 against €1.0 paid from FY18 income.Deutsche Grundstuecksauktionen AG. Deutsche Grundstuecksauktionen AG is a Germany-based operator of real estate auction houses. The Company operates a network of local agencies and local representatives across Germany. Its services portfolio includes, amonog others, property transfer, contract management, insurance check, vacancy and rental management, re-renting of vacancies, property management, technical facility management, support and supervision of repair and modernization measures, dunning processes, operation costs consulting, handling and monitoring of monetary transaction, rent and costs bookkeeping, administration and accounting of rent deposits and preparation of auction for payment or possession and other legal cases.
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.
.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.