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 4,40. Zusammenfassung: Die Q2-Ergebnisse waren im Vergleich zum Vorjahr stabil, und alle Hauptkennzahlen lagen nahe an unseren Prognosen. Der Q2-Bericht zeigte erneut eine gute operative Leistung, wobei alle Anlageklassen zu dem soliden LFL-Mietwachstumsergebnis (+3,0 %) beitrugen. Das FFO 1 lag mit €74 Mio. nur knapp unter dem Vorjahreswert, was auf das stabile AEBITDA-Ergebnis zurückzuführen ist, das dazu beitrug, die höheren Perpetual Note Zahlungen aufzufangen. Die Neubewertungen wirkten sich weiterhin positiv aus und trugen dazu bei, dass der EPRA NTAPS gegenüber dem Vorquartal um 3% auf €7,80 stieg. Das Unternehmen stellte Pläne für die Wiederaufnahme des externen Wachstums sowie einen Entwurf für den Einstieg in das Rechenzentrumsgeschäft vor. Das Management bestätigte die FFO 1 Guidance von €280 Mio. bis €310 Mio. (FBe: €301 Mio.). Unser Kursziel liegt nach Anpassung an die Q2-Entwicklungen nun bei €4,40 (zuvor: €4,00). Wir bekräftigen unsere Kaufempfehlung (Aufwärtspotenzial: 30 %). 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 4.40. Abstract: Q2 results were stable YoY and all headline figures were within a whisker of FBe. Reporting featured another good operational performance with all asset classes contributing to the solid overall LFL rental growth (+3.0%). Bottom line FFO 1 was just off the prior year number at €74m, thanks to the stable AEBITDA result that helped absorb higher perpetual note attributions. Revaluations remained a positive, helping nudge EPRA NTAPS 3% higher QoQ to €7.8. The company also unveiled plans to restart external growth as well as a blueprint for entering the data centre business. Management confirmed guidance calling for FFO 1 of €280m to €310m (FBe: €304m). Our TP is now €4.4 (old: €4.0) after adjusting for Q2 developments. We reiterate our Buy rating (upside: 30%). Bezüglich der Pflichtangaben gem. §34b WpHG und des Haftungsausschlusses siehe die vollständige Analyse. You can download the research here: AT1_GR-2025-09-01_EN 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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2191066 01.09.2025 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 | 894,80 | 1.180,30 | 1.323,20 | 1.609,90 | 1.602,80 | 1.542,30 | 0,00 | |
| EBITDA1,2 | 772,70 | 944,10 | 974,90 | 1.002,30 | -2.449,70 | 778,30 | 0,00 | |
| EBITDA-Margin3 | 86,35 | 79,99 | 73,68 | 62,26 | -152,84 | 50,46 | 0,00 | |
| EBIT1,4 | 2.155,80 | 1.651,70 | 1.736,70 | 361,10 | -2.467,60 | 758,50 | 0,00 | |
| EBIT-Margin5 | 240,93 | 139,94 | 131,25 | 22,43 | -153,96 | 49,18 | 0,00 | |
| Net Profit (Loss)1 | 1.709,10 | 906,40 | 1.078,10 | -457,10 | -2.426,40 | 309,30 | 0,00 | |
| Net-Margin6 | 191,00 | 76,79 | 81,48 | -28,39 | -151,39 | 20,05 | 0,00 | |
| Cashflow1,7 | 613,60 | 615,80 | 625,80 | 788,00 | 772,10 | 820,50 | 0,00 | |
| Earnings per share8 | 1,11 | 0,49 | 0,53 | -0,58 | -1,82 | 0,05 | 0,19 | |
| Dividend per share8 | 0,14 | 0,22 | 0,23 | 0,00 | 0,00 | 0,00 | 0,11 | |
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 | 4.199,15 Mio € | 03.06.2015 | Halten | 8FX8J49G+J6 |
| PE 2026e | PE 10Y-Ø | BGFL-Ratio | Shiller-PE | PB | PCF | KUV |
| 11,88 | 8,35 | 1,42 | 7,42 | 0,55 | 5,12 | 2,72 |
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Dividend '2023 in € |
Dividend '2024 in € |
Dividend '2025e in € |
Div.-Yield '2025e in % |
| 0,00 | 0,00 | 0,11 | 4,03% |
| Annual General Meeting | Q1-figures | Q2-figures | Q3-figures | Annual press conference |
| 24.06.2025 | 27.05.2026 | 26.08.2026 | 26.11.2025 | 25.03.2026 |
| Distance 60-days-line | Distance 200-days-line | Performance YtD | Performance 52 weeks | IPO |
| -13,69% | -7,67% | -4,71% | -14,06% | -26,56% |
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