Company Name: Warimpex Finanz- und Beteiligungs-AG ISIN: AT0000827209   Reason for the research: Update Recommendation: BUY from: 03.12.2024 Target price: EUR 1 Last rating change: Analyst: Adrian Kowollik While the sale of Russian assets (in total 53,100 sqm) that was announced on October 31 led to a one-off loss of EUR 30.3m,  [ … ]

Company Name: www.warimpex.com ISIN: AT0000827209   Reason for the research: Update Target price: EUR 1,60 Target price on sight of: 12-months Last rating change: Analyst: Adrian Kowollik Warimpex’ (WXF) Q2/24 results were negatively affected by write-downs of receivables and a loss from remeasurement of investment property [ … ]

Company Name: www.warimpex.com ISIN: AT0000827209   Reason for the research: Update Target price: EUR 1,60 Target price on sight of: 12-months Last rating change: Analyst: Adrian Kowollik Warimpex’ (WXF) Q2/24 results were negatively affected by write-downs of receivables and a loss from remeasurement of investment property [ … ]

Despite strong Hotel business, where the average occupancy rate is developing well, Warimpex’ (WXF) Q1/24 results were weak. The reason was a 9.3% decline in the Investment properties segment, which we believe stemmed from two factors that will likely persist in Q2-Q4 2024: 1. A weak rouble FX rate, and 2. Increasing problems with Russian t [ … ]

While they were better than our estimates on the revenue and EBITDA level, Warimpex’ EBIT and net income disappointed due to an unexpected remeasurement loss of EUR 38.3m (thereof: EUR 36.7m in Russia), which resulted from higher interest rates and lower expected rent income. Both factors currently affect the whole real estate sector. Posit [ … ]