Original-Research: UBM Development AG (von NuWays AG): Buy
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Original-Research: UBM Development AG - from NuWays AG
Classification of NuWays AG to UBM Development AG
Muted Q3 ahead but successful financing and letting Topic: UBM will release its Q3 report on 28th November. While we expect the company to have another muted quarter, UBM successfully placed a new green bond and let first parts of the LeopoldQuartier in Vienna. Q3 sales are seen to come in at € 35.0m (eNuW). The main contributors are again expected to come from the construction progress on forward sold projects. Further, we expect another strong quarter with regards residential units sold. Here UBM already sold more units at H1 (97) than in FY ’23 (96). Yet, against the backdrop of a muted top-line, EBT looks again set to come in slightly negative at € -2.4m. Successful bond placement. After the company announced a good exchange result for its new green bond (€ 74m; click here for update), UBM now announced the final result of the placement. With a volume of € 93m, nearly double the placement amount of 2023, the company was able to further smoothen its maturity profile. With the issued volume, more than 80% of UBM’s bond financing now has a sustainable focus in accordance with the company’s green. smart. and more. strategy. The new green bond has a five-year term until 2029e and an annual coupon of 7%. Management intends to use the net issue proceeds for refinancing as well as for new and existing suitable green projects. Letting success in Vienna. UBM recently let first parts of the LeopoldQuartier, the first and largest timber construction quarter in Europe. In detail, with the company rented large parts of the upper three floors (2.8k sqm) to Your Office – Managed Business Service GmbH, an operator of flexible office space, as well as the c. 1.2k sqm retail space on the ground floor to Spar AG. With this, UBM in a first step let c. 16% of the total floor space of 25.4k sqm. In addition, Best in Parking Garagen GmbH & Co. KG will operate the 127 parking spaces in the building. In our view, this is a very good sign that the company can record successes in the office market despite difficult waters. On top, talks with further prospective tenants are at an advanced stage. We remain convinced of UBM’s prospects in the field of smart and sustainable real estate solutions, especially as ESG requirements are being tightened and investors get increasingly under pressure to comply with the EU taxonomy. Reiterate BUY with an unchanged € 27 PT based on DDM. You can download the research here: http://www.more-ir.de/d/31151.pdf For additional information visit our website: www.nuways-ag.com/research Contact for questions: NuWays AG - Equity Research Web: www.nuways-ag.com Email: research@nuways-ag.com LinkedIn: https://www.linkedin.com/company/nuwaysag Adresse: Mittelweg 16-17, 20148 Hamburg, Germany ++++++++++ Diese Meldung ist keine Anlageberatung oder Aufforderung zum Abschluss bestimmter Börsengeschäfte. Offenlegung möglicher Interessenskonflikte nach § 85 WpHG beim oben analysierten Unternehmen befinden sich in der vollständigen Analyse. ++++++++++
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2018635 30.10.2024 CET/CEST
Boersengefluester.de (BGFL) provides an overview of the key figures on sales, earnings, cash flow and dividends to help you better assess the fundamental development of the respective companies. All information is entered manually in our database - the source is the respective annual reports. All estimates for future figures are provided by BGFL.
| The most important financial data at a glance | ||||||||
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024e | 2025e | ||
| Sales1 | 242,00 | 183,34 | 278,31 | 133,94 | 85,32 | 0,00 | 0,00 | |
| EBITDA1,2 | 74,97 | 65,10 | 75,93 | 39,17 | -27,28 | 0,00 | 0,00 | |
| EBITDA-Margin3 | 30,98 | 35,51 | 27,28 | 29,24 | -31,97 | 0,00 | 0,00 | |
| EBIT1,4 | 71,45 | 62,01 | 73,30 | 33,91 | -30,06 | 0,00 | 0,00 | |
| EBIT-Margin5 | 29,53 | 33,82 | 26,34 | 25,32 | -35,23 | 0,00 | 0,00 | |
| Net Profit (Loss)1 | 50,06 | 40,75 | 43,71 | 27,11 | -46,05 | 0,00 | 0,00 | |
| Net-Margin6 | 20,69 | 22,23 | 15,71 | 20,24 | -53,97 | 0,00 | 0,00 | |
| Cashflow1,7 | -39,92 | -34,64 | -45,71 | -70,74 | -54,48 | 0,00 | 0,00 | |
| Earnings per share8 | 6,16 | 4,39 | 4,50 | 2,25 | -3,14 | 1,15 | 2,60 | |
| Dividend per share8 | 2,20 | 2,20 | 2,25 | 1,10 | 0,00 | 0,00 | 1,00 | |
1 in Mio. Euro; 2 EBITDA = Earnings before interest, taxes, depreciation and amortisation; 3 EBITDA in relation to sales; 4 EBIT = Earnings before interest and taxes; 5 EBIT in relation to sales; 6 Net profit (-loss) in relation to sales; 7 Cashflow from operations; 8 in Euro; Source: boersengefluester.de
Auditor: BDO
All relevant valuation ratios, dates and other investor information on your share at a glance. Good to know: All data comes from boersengefluester.de and is updated daily. This means you are always up to date. You can get brief explanations of the key figures by moving the cursor or mouse over the relevant field.
| INVESTOR-INFORMATION | ||||||
| ©boersengefluester.de | ||||||
| UBM Development | ||||||
| WKN | ISIN | Legal Type | Marketcap | IPO | Recommendation | Plus Code |
| 852735 | AT0000815402 | AG | 126,28 Mio € | Halten | 8FWR598Q+W2 | |
| PE 2026e | PE 10Y-Ø | BGFL-Ratio | Shiller-PE | PB | PCF | KUV |
| 5,63 | 8,04 | 0,70 | 4,93 | 0,34 | -2,32 | 1,48 |
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Dividend '2022 in € |
Dividend '2023 in € |
Dividend '2024e in € |
Div.-Yield '2024e in % |
| 1,10 | 0,00 | 0,00 | 0,00% |
| Annual General Meeting | Q1-figures | Q2-figures | Q3-figures | Annual press conference |
| 21.05.2025 | 28.05.2025 | 28.08.2025 | 28.11.2024 | 11.04.2025 |
| Distance 60-days-line | Distance 200-days-line | Performance YtD | Performance 52 weeks | IPO |
| -5,35% | -13,22% | +6,29% | -25,22% | +125,33% |
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