Patrizia SE : Soft Q3 2024 earnings below our expectations negatively impacted by temporarily consolidated at equity investment amongst others
>Very wide FY 2024e EBITDA guidance confirmed and not narrowed - Yesterday (13 November) afternoon, Patrizia (PAT) reported soft Q3 2024 figures with earnings below our expectations. The management maintained its FY 2024e EBITDA guidance of a very wide range of € 30-60m, instead of narrowing it, with EBITDA still dependent on timing of fee recognition and potential deconsolidation effects during Q4 2024e.Total service fee income declined to € 61.4m (-19.6% y-o-y)...Patrizia Immobilien is engaged in the purchasing, management, appreciation and sale of residential and commercial real estate. Co. operates via two operating segments. The Investments segment primarily bundles portfolio management and the sale of own investments while the Management Services segment covers a range of real estate services, in particular analysis and advice during the purchase and sale of individual residential and commercial properties or portfolios, the management of real estate, management of real estate portfolios as well as consultation with regard to investment strategy, portfolio planning and allocation and the execution of investments.
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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