Patrizia SE : We may wait sometime longer for Patrizia to recover– Downgrade to Neutral
>Q1 2024 results reported mid-May were weak as we forecast… - Mid-May, Patrizia (PAT) reported weak Q1 2024 figures which were, however, overall in the range of our expectations. The company confirmed its very wide FY 2024e EBITDA guidance range of € 30m-€ 60.0m also confirming that it was expecting EBITDA at midpoint of the guidance which would be € 45.0m and therefore -17% below FY 2023 EBITDA of € 54.1m due to lower transaction and performance fees.…an...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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