Original-Research: Aroundtown SA (von First Berlin Equity Research GmbH): Kaufen
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Original-Research: Aroundtown SA - from First Berlin Equity Research GmbH
Classification of First Berlin Equity Research GmbH to Aroundtown SA
First Berlin Equity Research hat ein Research Update zu Aroundtown SA (ISIN: LU1673108939) veröffentlicht. Analyst Ellis Acklin bestätigt seine BUY-Empfehlung und erhöht das Kursziel von EUR 4,00 auf EUR 4,20. Zusammenfassung: Der Neunmonatsbericht enthielt eine gute operative Leistung, aber auch einige positive Überraschungen. Die Ergebnisse wurden von LFL-Mietwachstum von 3% angeführt, das AT nun in Richtung des oberen Endes der FFO 1-Guidance (€290 Mio. bis €320 Mio.) bringt. Der Tenor des Managements hat sich seit YE23 deutlich aufgehellt, und zwar dank: (1) einer gestärkten Bilanz, (2) ermutigender Trends in allen Anlageklassen einschließlich der positiven Entwicklung des Hotelportfolios, und (3) weiterer Anzeichen dafür, dass sich der Abwärtszyklus seinem Ende nähert. Der Vermieter hat außerdem eine App auf den Markt gebracht, die sich mit flexiblen Arbeitsplätzen befasst, und stößt mit zwei VC-Partnern in die PropTech-Arena vor, um einen Accelerator zu gründen. AT wird erst im Rahmen der JE24-Berichterstattung einen Ausblick auf 2025 geben, aber die Bausteine für ein gutes Jahr sind vorhanden -vor allem, wenn der Transaktionsmarkt anzieht. Wir stufen die AT1-Aktie weiterhin mit einer Kaufempfehlung ein bei einem Kursziel von €4,20 (zuvor: €4,00). First Berlin Equity Research has published a research update on Aroundtown SA (ISIN: LU1673108939). Analyst Ellis Acklin reiterated his BUY rating and increased the price target from EUR 4.00 to EUR 4.20. Abstract: Nine month reporting featured a good operating performance but also a few positive surprises. Results were led by 3% LFL rental growth that now has AT tracking towards the upper end of its FFO 1 guide (€290m to €320m). Management's tenor has brightened significantly since YE23, thanks to (1) a revamped balance sheet; (2) encouraging trends from all asset classes, including upside from the hotel portfolio; and (3) further signs that the downcycle is nearing an end. The landlord has also launched an app to address flexible workplace trends and is jumping into the PropTech arena with two VC partners to launch an accelerator. AT won't guide on 2025 until YE24 reporting, but building blocks are in place for a good year-particularly if the transaction market picks up. We remain Buy-rated on AT with a €4.2 TP (old: €4.0). 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/31467.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
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2042421 02.12.2024 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 | ||||||||
| 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024e | ||
| Sales1 | 747,10 | 894,80 | 1.180,30 | 1.323,20 | 1.609,90 | 1.602,80 | 0,00 | |
| EBITDA1,2 | 606,00 | 772,70 | 944,10 | 974,90 | 1.002,30 | -2.449,70 | 0,00 | |
| EBITDA-Margin3 | 81,11 | 86,35 | 79,99 | 73,68 | 62,26 | -152,84 | 0,00 | |
| EBIT1,4 | 2.293,50 | 2.155,80 | 1.651,70 | 1.736,70 | 361,10 | -2.467,60 | 0,00 | |
| EBIT-Margin5 | 306,99 | 240,93 | 139,94 | 131,25 | 22,43 | -153,96 | 0,00 | |
| Net Profit (Loss)1 | 1.827,80 | 1.709,10 | 906,40 | 1.078,10 | -457,10 | -2.426,40 | 0,00 | |
| Net-Margin6 | 244,65 | 191,00 | 76,79 | 81,48 | -28,39 | -151,39 | 0,00 | |
| Cashflow1,7 | 472,80 | 613,60 | 615,80 | 625,80 | 788,00 | 772,10 | 0,00 | |
| Earnings per share8 | 1,49 | 1,11 | 0,49 | 0,53 | -0,58 | -1,82 | -0,11 | |
| Dividend per share8 | 0,25 | 0,14 | 0,22 | 0,23 | 0,00 | 0,00 | 0,00 | |
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: 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 | ||||||
| Aroundtown | ||||||
| WKN | ISIN | Legal Type | Marketcap | IPO | Recommendation | Plus Code |
| A2DW8Z | LU1673108939 | SA | 4.414,34 Mio € | 03.06.2015 | Halten | 8FX8J49G+J6 |
| PE 2025e | PE 10Y-Ø | BGFL-Ratio | Shiller-PE | PB | PCF | KUV |
| 13,68 | 6,91 | 1,98 | 6,62 | 0,58 | 5,72 | 2,75 |
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Dividend '2022 in € |
Dividend '2023 in € |
Dividend '2024e in € |
Div.-Yield '2024e in % |
| 0,00 | 0,00 | 0,00 | 0,00% |
| Annual General Meeting | Q1-figures | Q2-figures | Q3-figures | Annual press conference |
| 26.06.2024 | 28.05.2025 | 28.08.2024 | 27.11.2024 | 26.03.2025 |
| Distance 60-days-line | Distance 200-days-line | Performance YtD | Performance 52 weeks | IPO |
| -2,11% | +22,67% | +15,71% | +21,18% | -22,80% |
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