Aroundtown SA : Unexpected reporting of preliminary 2019 results, which were in line with our estimates
>Solid preliminary FY 2019 results - Yesterday afternoon (Wednesday 18 March), Aroundtown (AT1) unexpectedly reported preliminary 2019 figures, which were in line with our expectations. Revenues came in at € 894.8m (+19.8% y-o-y), in line with our estimate of € 895.8m (consensus: € 900.0m). Property revaluations of € 1,217.5m (-20.8%% y-o-y) were close to our estimate of € 1,450.8m. After perpetual notes attribution, group FFO I increased by +23.9 y-o-y to € 445...Aroundtown Property Holdings Plc (Co.) is a specialist real estate investment group, focusing in the German real estate markets. Co. covers the main real estate segments which benefit from strong fundamentals and growth prospects: residential (through its holding in Grand City Properties S.A.), commercial and hotel properties. The Co.'s vision is buying, redeveloping, turning around and optimizing real estate properties in Germany.
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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