Accentro Real Estate AG : Final FY 2020 figures were a mixed bag and operationally weak – initial 2021e guidance between our estimate and consensus
>FY 2020 results significantly supported by property valuation gains - During the weekend of the previous week (1May-2May), Accentro posted its financial statements of its final FY 2020 figures on its website. The company reported capital gains from inventory properties down by -34.2% y-o-y to € 19.6m; which was below our estimate of € 38.4m. Reported EBIT, which included significant valuation gains, declined by -12.7% y-o-y to € 34.8m; being in line with our forecast...Accentro Real Estate AG. ESTAVIS AG is a Germany-based holding company active in the real estate sector. The Company business operations comprise domestic properties, focusing mainly on commercially attractive locations in Germany. Its activities include acquisition, modernization and sale of residential properties. The Company business model is particularly based on residential property. ESTAVIS AG's operations are divided into two segments: Trade, which comprises buying and selling of residential properties and individual apartments, especially retailing of apartments to owner occupiers and investor within the framework or retail privatizations of housing portfolios; and Portfolio, in which the Company takes advantage of its acquisition network to identify housing portfolios with high value-added potential, and exploits its management know-how to raise potential and to ensure cash-flows from the management of the acquired portfolios. As of December 31, 2011, the Company operated 42 subsidiaries.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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