Original-Research: Grand City Properties SA (von First Berlin Equity Research GmbH): Kaufen
|
Original-Research: Grand City Properties SA - from First Berlin Equity Research GmbH
Classification of First Berlin Equity Research GmbH to Grand City Properties SA
First Berlin Equity Research hat ein Research Update zu Grand City Properties S.A. (ISIN: LU0775917882) veröffentlicht. Analyst Ellis Acklin bestätigt seine BUY-Empfehlung und bestätigt sein Kursziel von EUR 14,20. Zusammenfassung: Standard & Poor's (S&P) hat das Kreditrating von GCP um eine Stufe auf BBB mit stabilem Ausblick herabgestuft (zuvor: BBB+ negativer Ausblick), was mit der gleichen Abstufung von Aroundtown (Beteiligung 62%) einhergeht. Die Rating-Agentur geht nun davon aus, dass die nach wie vor stotternde deutsche Wirtschaft die Veräußerungsaktivitäten von AT im Jahr 2025 und die Fähigkeit des Unternehmens, die Leverage-Anforderungen von S&P zu erfüllen, beeinträchtigen wird. Grand Citys eigenständiges Kreditprofil (SACP) bleibt jedoch bei BBB+, und S&P hob die gute operative Performance von GCP und die Fundamentaldaten des Wohnungsmarktes in Deutschland und London hervor. Die Anleihen von GCP reagierten kaum auf die Nachricht, was darauf hindeutet, dass das Re-Rating bereits eingepreist war. Wir behalten unsere Kaufempfehlung und unser Kursziel von €14,20 bei (35% Aufwärtspotenzial). First Berlin Equity Research has published a research update on Grand City Properties S.A. (ISIN: LU0775917882). Analyst Ellis Acklin reiterated his BUY rating and maintained his EUR 14.20 price target. Abstract: Standard & Poor's (S&P) has downgraded GCP's credit rating one notch to BBB with a stable outlook (old: BBB+ negative outlook), matching the re-rating of Aroundtown (62% stake). The ratings agency now thinks that a still sputtering German economy will hamper AT's 2025 disposal activity and its ability to hit S&P's leverage requirements. But Grand City's stand-alone credit profile (SACP) stays at BBB+, and S&P highlighted GCP's good operational performance and residential market fundamentals for Germany and London. GCP's bonds barely reacted to the news suggesting that the re-rating was priced in. We maintain our Buy rating and €14.2 TP (35% upside). Bezüglich der Pflichtangaben gem. §34b WpHG und des Haftungsausschlusses siehe die vollständige Analyse. You can download the research here: http://www.more-ir.de/d/32408.pdf Contact for questions: First Berlin Equity Research GmbH Herr Gaurav Tiwari Tel.: +49 (0)30 809 39 686 web: www.firstberlin.com E-Mail: g.tiwari@firstberlin.com
The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
||||||||||||||||||||
2129970 05.05.2025 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 | 2024 | 2025e | ||
| Sales1 | 560,30 | 535,42 | 524,63 | 582,51 | 607,74 | 597,02 | 0,00 | |
| EBITDA1,2 | 297,66 | 299,78 | 298,59 | 308,10 | 319,65 | 376,71 | 0,00 | |
| EBITDA-Margin3 | 53,13 | 55,99 | 56,91 | 52,89 | 52,60 | 63,10 | 0,00 | |
| EBIT1,4 | 692,87 | 640,16 | 985,99 | 413,80 | -581,56 | 370,40 | 0,00 | |
| EBIT-Margin5 | 123,66 | 119,56 | 187,94 | 71,04 | -95,69 | 62,04 | 0,00 | |
| Net Profit (Loss)1 | 493,36 | 449,07 | 617,09 | 179,10 | -638,07 | 242,13 | 0,00 | |
| Net-Margin6 | 88,05 | 83,87 | 117,62 | 30,75 | -104,99 | 40,56 | 0,00 | |
| Cashflow1,7 | 249,49 | 242,15 | 217,06 | 216,12 | 249,41 | 284,46 | 0,00 | |
| Earnings per share8 | 2,30 | 2,01 | 2,90 | 0,76 | -1,65 | 1,14 | 0,78 | |
| Dividend per share8 | 0,82 | 0,82 | 0,83 | 0,00 | 0,00 | 0,00 | 0,40 | |
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: KPMG
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 | ||||||
| Grand City Properties | ||||||
| WKN | ISIN | Legal Type | Marketcap | IPO | Recommendation | Plus Code |
| A1JXCV | LU0775917882 | SA | 1.835,88 Mio € | 29.05.2012 | Halten | 8FX8J49G+J6 |
| PE 2026e | PE 10Y-Ø | BGFL-Ratio | Shiller-PE | PB | PCF | KUV |
| 12,40 | 8,98 | 1,38 | 4,92 | 0,00 | 7,36 | 3,08 |
|
Dividend '2023 in € |
Dividend '2024 in € |
Dividend '2025e in € |
Div.-Yield '2025e in % |
| 0,00 | 0,00 | 0,40 | 3,84% |
| Annual General Meeting | Q1-figures | Q2-figures | Q3-figures | Annual press conference |
| 24.06.2025 | 14.05.2025 | 13.08.2025 | 13.11.2025 | 17.03.2025 |
| Distance 60-days-line | Distance 200-days-line | Performance YtD | Performance 52 weeks | IPO |
| -5,25% | -3,49% | -8,60% | -14,52% | +272,14% |
Founded in 2013 by Gereon Kruse, the financial portal boersengefluester.de is all about German shares - with a clear focus on second-line stocks. In addition to traditional editorial articles, the site stands out in particular thanks to a large number of self-developed analysis tools. All tools are based on a completely self-maintained database for more than 650 shares. As a result, boersengefluester.de produces Germany's largest profit and dividend forecast.
Contact
