UBM Development Q3 21 - Revenues ahead, result in line with RBIe, outlook confirmed
Revenues of EUR 71 mn ahead of our expectation, EBT and net profit bang in lineFY 21 EBT guidance of EUR 55-60 mn confirmed
FY 22 expected to be above FY 21
Slight decrease in pipeline due to project completions
High liquidity, advanced discussions over new projects flagged
We rate the release as neutral
UBM Realitaetsentwicklung is engaged in the the development, utilization and management of real estate. Co.'s projects include: hotels; trade/entertainment; office blocks; logistics/commerce; urban development; residential buildings; revitalization; special projects; and garages/parking.
The Institutional Equity Research team of Raiffeisen Bank International AG covers 85 stocks from Austria, Central & Eastern Europe with sell-side research and thus levers our local broker status with excellent company relationships. For corporates in Austria, CEE and Western Europe, we offer co-sponsored research, which includes research coverage and marketing activities to investors. Additionally, through our Spotlight Research product we also shed light on leading European small and micro-caps, seeking greater visibility with investors.
The Institutional Equity Research team consists of roughly 15 analysts, both in Vienna and the CEE countries. Our analysts provide long-standing sector expertise in tandem with profound local market know how and a sectoral approach across the entire region.
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