Financials FCR Immobilien AG

Equities

Market Closed - Xetra Other stock markets 11:36:01 2024-06-03 am EDT			5-day change	1st Jan Change
10.3 ^EUR	+3.52%		+7.85%	-26.43%

Apr. 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	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	112.8	113.4	167.9	145.5	138.2	98.21	-	-
Enterprise Value (EV) ¹	112.8	343.5	462.1	467.4	433.3	405.8	422.9	440.5
P/E ratio	8.16 x	11.8 x	13.9 x	10.3 x	15.7 x	12.4 x	11.6 x	10.5 x
Yield	2.52%	2.42%	2.03%	2.35%	1.79%	2.51%	2.81%	3.12%
Capitalization / Revenue	2.27 x	2.92 x	3.2 x	4.05 x	2.44 x	2.59 x	2.42 x	2.31 x
EV / Revenue	2.27 x	8.83 x	8.8 x	13 x	7.65 x	10.7 x	10.4 x	10.4 x
EV / EBITDA	6.11 x	23.1 x	24.1 x	16.4 x	17.9 x	18.4 x	18 x	18.4 x
EV / FCF	-2.2 x	42.9 x	38.1 x	29.6 x	18.2 x	104 x	70.5 x	65.7 x
FCF Yield	-45.5%	2.33%	2.63%	3.38%	5.49%	0.96%	1.42%	1.52%
Price to Book	-	1.23 x	1.56 x	1.22 x	1.1 x	0.75 x	0.71 x	0.68 x
Nbr of stocks (in thousands)	9,481	9,146	9,763	9,763	9,870	9,870	-	-
Reference price ²	11.90	12.40	17.20	14.90	14.00	9.950	9.950	9.950
Announcement Date	4/22/20	4/13/21	4/7/22	4/28/23	4/30/24	-	-	-

¹EUR in Million²EUR

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	49.6	38.9	52.5	35.91	56.63	37.9	40.6	42.5
EBITDA ¹	18.47	14.84	19.2	28.56	24.22	22	23.5	23.9
EBIT ¹	18.11	14.42	18.6	27.45	23	21.9	23.5	23.9
Operating Margin	36.51%	37.07%	35.43%	76.43%	40.62%	57.78%	57.88%	56.24%
Earnings before Tax (EBT) ¹	11.94	11.51	14.9	17.31	10.09	9.1	9.9	11.3
Net income ¹	9.75	9.561	12.1	14.18	8.697	7.8	8.4	9.3
Net margin	19.66%	24.58%	23.05%	39.48%	15.36%	20.58%	20.69%	21.88%
EPS ²	1.459	1.050	1.240	1.450	0.8900	0.8000	0.8600	0.9500
Free Cash Flow ¹	-51.34	8.001	12.14	15.8	23.8	3.9	6	6.7
FCF margin	-103.52%	20.57%	23.12%	44.01%	42.02%	10.29%	14.78%	15.76%
FCF Conversion (EBITDA)	-	53.92%	63.23%	55.34%	98.27%	17.73%	25.53%	28.03%
FCF Conversion (Net income)	-	83.69%	100.33%	111.48%	273.61%	50%	71.43%	72.04%
Dividend per Share ²	0.3000	0.3000	0.3500	0.3500	0.2500	0.2500	0.2800	0.3100
Announcement Date	4/22/20	4/13/21	4/7/22	4/28/23	4/30/24	-	-	-

¹EUR in Million²EUR

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	-	230	294	322	295	308	325	342
Net Cash position ¹	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	15.5 x	15.32 x	11.27 x	12.19 x	13.98 x	13.82 x	14.32 x
Free Cash Flow ¹	-51.3	8	12.1	15.8	23.8	3.9	6	6.7
ROE (net income / shareholders' equity)	12.5%	10.7%	12.1%	12.5%	7.13%	6%	6.2%	6.5%
ROA (Net income/ Total Assets)	-	-	-	-	-	-	-	-
Assets ¹	-	-	-	-	-	-	-	-
Book Value Per Share ²	-	10.10	11.10	12.20	12.70	13.30	14.00	14.60
Cash Flow per Share ²	-	1.080	1.130	1.900	2.570	0.3800	0.6100	0.6800
Capex ¹	-	1.87	1.17	2.7	1.36	0.2	-	-
Capex / Sales	-	4.81%	2.23%	7.53%	2.39%	0.53%	-	-
Announcement Date	4/22/20	4/13/21	4/7/22	4/28/23	4/30/24	-	-	-

¹EUR in Million²EUR

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

9.95 EUR

Average target price

20.5 EUR

Spread / Average Target

+106.03%

	1st Jan change	Capi.
FCR IMMOBILIEN AG	-26.43%	107M
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MULTIPLAN EMPREENDIMENTOS IMOBILIARIOS S.A.	-19.49%	2.52B
EASYHOME NEW RETAIL GROUP CORPORATION LIMITED	-13.94%	2.45B
ATRIUM LJUNGBERG AB	-11.12%	2.4B
OLAV THON EIENDOMSSELSKAP ASA	+19.03%	2.15B