€1186.9m market cap
€8.75 last close
Globalworth is a real estate investment company, incorporated in Guernsey and listed on AIM. The leading office investor in the CEE region, with a portfolio approaching €2.5bn in Romania and Poland, it targets a sustainable and growing dividend with capital growth.
Investment summary
A strong FY18 performance for FY18 included a full-year earnings contribution from Globalworth Poland and good underlying progress from the existing portfolio. The results appear consistent with our recently published multi-year forecasts, which we will review in detail in the coming days. These look for strong future growth from adding value to existing assets and further developments, against a positive operating environment in Romania and Poland. Not included in those forecasts were potential further accretive acquisitions although Globalworth Real Estate (GWI) continues to evaluate a strong pipeline of opportunities. To fund investments, including acquisitions and the planned elimination of the Globalworth Poland minority interest, GWI intends to issue up to €500m of additional equity capital.
Y/E Dec |
Revenue (€m) |
EBITDA (€m) |
PBT (€m) |
EPS (c) |
P/E (x) |
P/CF (x) |
|---|---|---|---|---|---|---|
| 2017A | 51.1 | N/A | 17.4 | 17.9 | 48.9 | 18.5 |
| 2018A | 133.4 | N/A | 78.5 | 46.0 | 19.0 | 48.5 |
| 2019E | N/A | N/A | N/A | N/A | N/A | N/A |
| 2020E | N/A | N/A | N/A | N/A | N/A | N/A |
| Last updated on 20/03/2019 | ||||||
Industry outlook
The Romanian and Polish economies continue to perform well, which should support occupier and investment demand for commercial property assets.
Last updated on 20/03/2019
Sector |
|---|
| Financials & real estate |
Share price graph
Balance sheet |
|
|---|---|
| Forecast net debt (€m) | N/A |
| Forecast gearing ratio (%) | N/A |
Price performance
% |
1m |
3m |
12m |
||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
|||||||||||||||
| *% relative to local index | |||||||||||||||
Key management |
|
|---|---|
| Geoff Miller | Chairman |
| loannis Papalekas | CEO |
| Dimitris Raptis | Deputy CEO and CIO |
Content on Globalworth Real Estate
You may also be interested in…
- APQ Global
- Cenkos Securities
- Circle Property
- Custodian REIT
- GCP Student Living
- ICG-Longbow SSUP
- John Laing Group
- Lighthouse Group
- MedicX Fund
- Numis Corporation
- Palace Capital
- Park Group
- Picton Property Income
- Primary Health Properties
- Raven Property Group
- Record
- Regional REIT
- S&U
- Secure Trust Bank
- Share
- Shore Capital Group
- Supermarket Income REIT
- Target Healthcare REIT
- Town Centre Securities
- Tungsten Corporation