Helma Eigenheimbau

DB: H5E

€156.4m market cap

€39.1 last close

Helma Eigenheimbau provides development, planning, sales, finance advisory and construction services for turnkey, low rise, domestic properties. It uses solid construction techniques, usually block and render. It operates mainly in cities in middle and north Germany and in Munich.

Investment summary

Helma Eigenheimbau reported a record high pre-tax profit at €21.1m in FY18, up 10.6% y-o-y and in line with management expectations. Reconfirmed management guidance indicates further growth to €23.5–26.0m in FY19. This is underpinned by the strong order intake (up by 13.5% y-o-y to €278.6m at end-2018) and land bank expansion (current revenue potential at c €1.4bn vs €1.2bn at end-June 2018). We draw particular attention to the solid new orders in the higher-margin property development segment, which should facilitate Helma’s high profitability.

Sector
Industrials
Share price graph
Price performance
%
1m
3m
12m
Actual 2.9 16.4 (0.6)
Relative* 3.3 9.6 7.5
52-week high/low €40.4/€29.4
*% relative to local index
Key management
Gerrit Janssen CFO
Elaine Hirsch CFO Assistant