WOOD Flash - Duna House: 1Q24 – firing on all cylinders
Duna House had an outstanding start to the year, with all the key countries performing strongly. In Italy, falling interest rates prompted a mortgage market turnaround in 1Q24, and Duna House continues to gain market share. In Poland, the end of the mortgage subsidy programme at the end of 2023 had a less negative impact on the activity at the start of the year than expected, and the disbursements related to the last months of the programme drove high loan volumes. In Hungary, the credit and real estate markets activity continues to improve steadily, as the market turned the corner in 1Q23, and the sales of the residential apartments at the Forest Hill project continue bring in cash inflows. The proceeds from the Forest Hill apartment sales allowed the company to pay another large dividend in May. Relative to the share price at the beginning of 2023, the last two dividends, cumulatively, generated a dividend yield of almost 60%.
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.
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