Helma Eigenheimbau

DB: H5E

€138m market cap

€34.5 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 in the surroundings of major cities such as Berlin, Dusseldorf, Dresden, Frankfurt, Hamburg, Hanover and Leipzig, as well as selected holiday locations.

Investment summary

Helma Eigenheimbau closed FY19 with improved revenues and new order intake, coupled with a lower cost of materials and third-party services ratio. It maintains a satisfactory equity ratio of 28.6%, assisted by its conservative dividend policy (which is aligned with its debt covenants). While Helma is well-positioned to continue to expand in the next few years with a strong order book and attractive land bank secured on relatively cheap prices, near-term growth remains uncertain given the likely recession triggered by COVID-19. Consequently, management has withdrawn its FY20 guidance.

Sector
Industrials
Share price graph
Price performance
%
1m
3m
12m
Actual (1.4) 9.5 (6.8)
Relative* (4.6) (9.3) (16.6)
52-week high/low €46.7/€27.3
*% relative to local index
Key management
Gerrit Janssen CFO
Elaine Hirsch CFO Assistant