RCM Beteiligungs

DB: RCM

€29.3m market cap

€2.24 last close

RCM Beteiligungs is a property developer, acquiring rental income-producing assets in and around Dresden and investing in refurbishment with the aim of improving the tenant mix to enhance value. RCM also invests in financial assets. It is a large shareholder in KST Beteiligungs, a financial investor.

Investment summary

In FY20 RCM largely completed the portfolio repositioning process it launched in 2019, resulting in combined income from property disposals in FY20 and FY19 of c €31m. Until end-December 2020, RCM had reinvested only €9.3m in new real estate assets, which could be due to the pandemic-driven slowdown in market transactions. The healthy liquidity situation, coupled with net debt decreasing to €13.6m as at end-December 2020, puts RCM in a strong position to execute transactions in the residential and commercial sectors, which are the areas it considers have the best potential.

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Sector
Financials
Share price graph
Price performance
%
1m
3m
12m
Actual 0.9 6.7 8.7
Relative* (3.8) (2.4) (24.5)
52-week high/low €2.2/€2.0
*% relative to local index
Key management
Reinhard Voss Vorstand