Deutsche Grundstücksauktionen - Reaching new heights
Despite the macro headwinds, Deutsche Grundstücksauktionen (DGA) reported record-high auction sales in FY20 of €142.7m (significantly above the €100.1m in FY19) and commission income of €12.7m (versus €10.1m in FY19). DGA continued its strong performance in Q121, reporting turnover of €37.9m – the second-highest quarterly result in its history (only behind Q320), with €47.8m group sales. The group benefits from agreements with government institutions, which offer high-volume properties for sale and fueled a 51.3% y-o-y increase in average sale price across the group to €96.6k. On the other hand, due to a regressive commission scale, the average commission rate declined from 10.1% to 8.9% in FY20. Management expects a slight decline in transaction volume in FY21, as the FY20 figure was inflated by significant one-off transactions.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.
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