WOOD Flash – CTP: 2Q24 top line in line, but stronger EBITDA and revaluation result
With its full-year FFO guidance reiterated, CTP’s equity story seems to be on track, in our view. We continue to see CTP as one of the highest-quality real estate plays in CEE, with the developments-driven growth of both earnings and BV the key driver of value for shareholders. The key risks include the relatively high leverage (a net LTV of 46% as of 1H24), and any possible softening of demand for logistic assets, which could have repercussions for both rent levels and the viability of the development goals. That said, during the call, management reiterated that it still sees robust demand for logistics assets across its portfolio, and expects rental growth to continue to outpace inflation, going forward.
WOOD & Company is the leading investment bank in Emerging Europe. Founded in 1991 and head-quartered in Prague, our footprint spans the region and touches investors around the globe.
A pioneer in Emerging Europe, WOOD executed many of the first CEE equity trades and landmark investment banking transactions. Our electronic trading platform was the first in the region, and remains the best. We are continually expanding our relevance and reach in these ever-evolving markets.
Our equity market share reflects our stature: 7% in Warsaw, 20% in Bucharest, 16% in Hungary, 40% in Prague and 5% in Vienna. Our distribution is unparalleled, with the largest salesforce in the region, servicing a uniquely diverse investor base.
We couple local expertise with a truly international perspective. With offices on the ground in the region, and in key financial hubs such as London and Milano, we are never far from our clients and we remain at the forefront of what’s afoot in the CEE emerging and frontier landscape.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.