S Immo (AV: SPI)

Currency in EUR

Last close As at 26/01/2023

EUR12.84

−0.78 (−5.73%)

Market capitalisation

EUR1,003m

S Immo has a track record of cleverly anticipating regional/sectoral real estate cycles in Europe. This includes the expansion into CEE in the early 2000s, later investments in the German residential and office markets and subsequent diversification outside of Berlin. Its active approach has allowed the company to post five- and 10-year EPRA NAV total returns (TR) of c 23% and 14% pa, respectively. It recently received and accepted a bid from CPI for €23.50/share.

Latest Insights

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Real Estate

S Immo – executive interview

Sector

Real Estate

Equity Analyst

Andy Murphy

Andy Murphy

Director, Financials & Industrials

Key Management

  • Friedrich Wachernig

    Management Board Member

  • Herwig Teufelsdorfer

    CEO

Share Price Performance

Price Performance
% 1M 3M 12M
Actual 7.9 (43.6) (41.1)
Relative 2.5 (49.8) (33.5)
52 week high/low €23.4/€11.9

Financials

S Immo’s FY21 results saw a gross profit recovery very close to 2019 and EPS setting an all-time record of €3.24 per share. This was accompanied by a positive outlook statement. The shares closed at €22.75 on 29 April, representing a c 22% discount to its FY21 EPRA NAV of €29.29. On 2 May, it was announced that CPI had raised its bid for S Immo to €23.50 (cum dividend), which the management board has accepted.

Research

Thematics

Consumer

IPO apocalypse

TMT

ESG, moving beyond the box tick

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