UBM Development (AV: UBS)

Currency in EUR

Last close As at 26/01/2023

EUR29.10

1.10 (3.93%)

Market capitalisation

EUR209m

Edison Investment Research is terminating coverage on UBM Development. Please note you should no longer rely on any previous research or estimates for this company. All forecasts should now be considered redundant.

Previously published reports can still be accessed via our website.

Latest Insights

Real Estate

UBM Development — Reinvented business model

Sector

Real Estate

Equity Analyst

Milosz Papst

Milosz Papst

Director, Financials

Key Management

  • Christoph Reiner

    Head of IR

Share Price Performance

Price Performance
% 1M 3M 12M
Actual 19.8 7.8 (30.7)
Relative 13.7 (4.1) (21.8)
52 week high/low €43.7/€22.8

Financials

In response to COVID-19, UBM Development shifted its strategic focus away from hotels to residential and office real estate, with particular emphasis on ESG principles. Consequently, its €2.3bn pipeline as at end-2020 (vs €2.5bn at end-2019) included €1.25bn in residential projects (covering 3,000+ units) and €750m in ‘new type’ office investments after it re-classified all hotel projects in pre-construction stage. Hotels already under construction are scheduled for completion in FY21 but are unlikely to be sold before the market fully recovers. While UBM did not make any major project acquisitions in 2020, it continues to search for new opportunities with a €247m cash balance at end-2020. Management aims at returning to pre-COVID-19 earnings level in FY22.

Research

Real Estate

UBM Development — Reinvented business model

Thematics

Consumer

IPO apocalypse

TMT

ESG, moving beyond the box tick

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