Accentro Real Estate AG : Soft FY 2019 results in terms of cash earnings – Successful € 250m bond placement provides fuel for accelerated expansion
>FY 2019 was lower than expected – initial FY 2020e guidance subject to coronavirus crisis - Last week, Accentro reported FY 2019 figures which missed our expectations in terms of earnings excluding valuation gains. Revenues from sales of inventory properties of € 129.5m (-33.2% y-o-y) were below our estimate of € 164.5m. Capital gains from inventory properties decreased by -9.8% y-o-y to € 29.8m; being below our estimate of € 40.8m. The corresponding profit margin of...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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