€26.9m market cap
€16.8 last close
Deutsche Grundstücksauktionen (DGA) is market leader in the auctioning of properties in Germany. The company was founded in Berlin in 1984.
Deutsche Grundstücksauktionen (DGA) has improved even on an ‘outstanding’ H117 comparative, with the highest first-half gross turnover and net commission for more than a decade and net profit up c 60% in H118. While the driver (a record lot sale of €15m, almost a quarter of total gross turnover) was arguably exceptional, the offer of further high-value lots is not wishful thinking, given DGA’s good relationship with the Federal Bundesanstalt and excellent publicity as a reference sale. Indications of positive imminent Q3 auctions support guidance of a stable second half and thus forecasts of a bumper dividend (prospective 5.2% yield).