NSI NV : Navigating the future: rising capex, still a value play
>Recapping 1H 2024 results: modestly positive - NSI reported modestly positive results for H1 2024, with EPRA earnings exceeding estimates by 2.8% due to stronger top-line performance and a lower tax rate than expected. FY2024 EPRA EPS guidance improved by +1.3% to €1.90-2.00, factoring in the share buyback programme and a 3-5% tax rate. Property values fell by 1.7% in H1, with Amsterdam down 2.8%. NSI's Loan-to-Value ratio remains strong at 32.9%, while funding is fu...NSI NV, formerly Nieuwe Steen Investments NV, is a closed-end real estate investment firm based in the Netherlands. The Firm invests in a real estate portfolio, which it also actively manages. It operates in three segments: the Netherlands, Belgium and Switzerland. Its investments are primarily focused on office and retail properties in the Netherlands and on offices and logistics real estate in Belgium. The Firm's portfolio comprises over 300 lettable properties. The Firm has around 40 subsidiaries, including NSI Bedrijfsgebouwen BV, NSI Beheer BV, NSI Development BV, VastNed Offices Benelux Holding BV, Munuvius BV and NSI Luxembourg Holding Sarl, among others.
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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