Financials FCR Immobilien AG

Equities

Real-time Estimate Tradegate Other stock markets 12:17:15 03/05/2024 BST			5-day change	1st Jan Change
9.925 ^EUR	+0.25%		+5.32%	-29.29%

04-30	FCR Immobilien AG Reports Earnings Results for the Full Year Ended December 31, 2023	CI
2023	FCR Immobilien AG Reports Earnings Results for the Half Year Ended June 30, 2023	CI

Fiscal Period: December	2018	2019	2020	2021	2022	2023	2024	2025
Capitalization ¹	75.08	112.8	113.4	167.9	145.5	97.72	97.72	-
Enterprise Value (EV) ¹	229.8	112.8	343.5	462.1	467.4	393	405.3	422.4
P/E ratio	53.7 x	8.16 x	11.8 x	13.9 x	10.3 x	11.8 x	12.4 x	11.5 x
Yield	1.99%	2.52%	2.42%	2.03%	2.35%	2.53%	2.53%	2.83%
Capitalization / Revenue	2.02 x	2.27 x	2.92 x	3.2 x	4.05 x	1.74 x	2.58 x	2.41 x
EV / Revenue	6.18 x	2.27 x	8.83 x	8.8 x	13 x	6.98 x	10.7 x	10.4 x
EV / EBITDA	22.8 x	6.11 x	23.1 x	24.1 x	16.4 x	16.2 x	18.4 x	18 x
EV / FCF	-	-2.2 x	42.9 x	38.1 x	29.6 x	-1,965 x	104 x	70.4 x
FCF Yield	-	-45.5%	2.33%	2.63%	3.38%	-0.05%	0.96%	1.42%
Price to Book	-	-	1.23 x	1.56 x	1.22 x	0.77 x	0.74 x	0.71 x
Nbr of stocks (in thousands)	8,296	9,481	9,146	9,763	9,763	9,870	9,870	-
Reference price ²	9.050	11.90	12.40	17.20	14.90	9.900	9.900	9.900
Announcement Date	23/05/19	22/04/20	13/04/21	07/04/22	28/04/23	-	-	-

¹EUR in Million²EUR

Estimates

Fiscal Period: December	2018	2019	2020	2021	2022	2023	2024	2025
Net sales ¹	37.18	49.6	38.9	52.5	35.91	56.3	37.9	40.6
EBITDA ¹	10.06	18.47	14.84	19.2	28.56	24.2	22	23.5
EBIT ¹	7.434	18.11	14.42	18.6	27.45	19.4	21.9	23.5
Operating Margin	19.99%	36.51%	37.07%	35.43%	76.43%	34.46%	57.78%	57.88%
Earnings before Tax (EBT) ¹	2.977	11.94	11.51	14.9	17.31	10.1	9.1	9.9
Net income ¹	1.423	9.75	9.561	12.1	14.18	8.7	7.8	8.4
Net margin	3.83%	19.66%	24.58%	23.05%	39.48%	15.45%	20.58%	20.69%
EPS ²	0.1686	1.459	1.050	1.240	1.450	0.8400	0.8000	0.8600
Free Cash Flow ¹	-	-51.34	8.001	12.14	15.8	-0.2	3.9	6
FCF margin	-	-103.52%	20.57%	23.12%	44.01%	-0.36%	10.29%	14.78%
FCF Conversion (EBITDA)	-	-	53.92%	63.23%	55.34%	-	17.73%	25.53%
FCF Conversion (Net income)	-	-	83.69%	100.33%	111.48%	-	50%	71.43%
Dividend per Share ²	0.1800	0.3000	0.3000	0.3500	0.3500	0.2500	0.2500	0.2800
Announcement Date	23/05/19	22/04/20	13/04/21	07/04/22	28/04/23	-	-	-

¹EUR in Million²EUR

Estimates

Fiscal Period: December	2018	2019	2020	2021	2022	2023	2024	2025
Net Debt ¹	155	-	230	294	322	295	308	325
Net Cash position ¹	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	15.38 x	-	15.5 x	15.32 x	11.27 x	12.2 x	13.98 x	13.82 x
Free Cash Flow ¹	-	-51.3	8	12.1	15.8	-0.2	3.9	6
ROE (net income / shareholders' equity)	17.9%	12.5%	10.7%	12.1%	12.5%	6.9%	6%	6.2%
ROA (Net income/ Total Assets)	-	-	-	-	-	-	-	-
Assets ¹	-	-	-	-	-	-	-	-
Book Value Per Share ²	-	-	10.10	11.10	12.20	12.80	13.30	14.00
Cash Flow per Share ²	-	-	1.080	1.130	1.900	-0.0700	0.3800	0.6100
Capex ¹	99.3	-	1.87	1.17	2.7	0.5	0.4	-
Capex / Sales	267.12%	-	4.81%	2.23%	7.53%	0.89%	1.06%	-
Announcement Date	23/05/19	22/04/20	13/04/21	07/04/22	28/04/23	-	-	-

¹EUR in Million²EUR

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

9.9 EUR

Average target price

20.5 EUR

Spread / Average Target

+107.07%

	1st Jan change	Capi.
FCR IMMOBILIEN AG	-29.29%	105M
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EASYHOME NEW RETAIL GROUP CORPORATION LIMITED	-7.27%	2.65B
AEON MALL CO., LTD.	+2.00%	2.67B
MULTIPLAN EMPREENDIMENTOS IMOBILIARIOS S.A.	-17.56%	2.67B
ATRIUM LJUNGBERG AB	-15.83%	2.28B
ALLOS S.A.	-23.65%	2.19B