Corestate Capital Holding S.A. : The valuation looks attractive - P/E multiple of 4.5x for FY 2020e
>Final FY 2019 figures as expected – FY 2020e guidance reiterated - Yesterday (24 March), Corestate reported its final figures for the full year 2019 which confirmedthe preliminary 2019 key figures announced on 25 February. Aggregate revenues and gains slightly increased by +3.9% y-o-y to € 303.4m (prelim: around. € 303.0m). EBITDA edged up +0.5% y-o-y to € 175.0m (prelim: around € 175.0m). Adjusted group net profit slightly declined by -3.7% y-o-y to € 130....Corestate Capital holding is a holding company. With its group companies, Co. offers a range of real estate investment management services, such as investment, fund, asset, property and facility management. Co.'s product offering primarily covers residential, commercial and microliving assets (including developments) and addresses all risk/return profiles, i.e. from core/core plus to value add/opportunisitc. Clients include semi-institutional investors (HNWIs and family offices) as well as institutional investors. Co.'s key market is Germany. Additional activities focus on other European countries such as Austria and Spain as well as the Benelux countries.
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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