Ankündigung • Aug 01
Sonja Wärntges to Resign as CEO of Branicks Group AG No Later Than December 31, 2026 Branicks Group AG announced that Ms. Sonja Wärntges would continue to manage the Company’s business as Chief Executive Officer (Vorstandsvorsitzende) and would resign from office no later than December 31, 2026. New Risk • Jun 22
New major risk - Revenue and earnings growth Earnings have declined by 76% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (8.8% average weekly change). Earnings have declined by 76% per year over the past 5 years. Minor Risks Latest financial reports are more than 6 months old (reported September 2025 fiscal period end). Market cap is less than US$100m (€70.4m market cap, or US$80.4m). New Risk • Jun 03
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: €84.0m (US$97.4m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (9.1% average weekly change). Minor Risk Market cap is less than US$100m (€84.0m market cap, or US$97.4m). New Risk • May 25
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended September 2025. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (9.4% average weekly change). Minor Risk Latest financial reports are more than 6 months old (reported September 2025 fiscal period end). Buy Or Sell Opportunity • Feb 12
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 2.2% to €1.88. The fair value is estimated to be €2.38, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 10% over the last 3 years. Meanwhile, the company became loss making. Revenue is forecast to decline by 43% in a year. Earnings are forecast to grow by 93% in the next year. Buy Or Sell Opportunity • Jan 28
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 5.3% to €1.86. The fair value is estimated to be €2.33, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 10% over the last 3 years. Meanwhile, the company became loss making. Revenue is forecast to decline by 43% in a year. Earnings are forecast to grow by 93% in the next year. Buy Or Sell Opportunity • Jan 10
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 4.9% to €1.92. The fair value is estimated to be €2.41, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 10% over the last 3 years. Meanwhile, the company became loss making. Revenue is forecast to decline by 41% in a year. Earnings are forecast to grow by 93% in the next year. Buy Or Sell Opportunity • Dec 08
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 12% to €1.84. The fair value is estimated to be €2.31, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 10% over the last 3 years. Meanwhile, the company became loss making. Revenue is forecast to decline by 41% in a year. Earnings are forecast to grow by 99% in the next year. Reported Earnings • Nov 07
Third quarter 2025 earnings released: €1.36 loss per share (vs €0.32 loss in 3Q 2024) Third quarter 2025 results: €1.36 loss per share (further deteriorated from €0.32 loss in 3Q 2024). Revenue: €51.8m (down 22% from 3Q 2024). Net loss: €113.4m (loss widened 328% from 3Q 2024). Revenue is expected to fall by 20% p.a. on average during the next 3 years compared to a 1.5% decline forecast for the Real Estate industry in Europe. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 60 percentage points per year, which is a significant difference in performance. Ankündigung • Aug 29
VIB Vermögen AG (XTRA:VIH1) completed the acquisition of Institutional Business of Branicks Group AG (XTRA:DIC). VIB Vermögen AG (XTRA:VIH1) entered into a purchase agreement to acquire Institutional Business of Branicks Group AG (XTRA:DIC) on July 7, 2025. The volume of the transfer to VIB Vermögen is around €360 million. The business relationship with institutional investors will not change. The customer interface and account managers will remain unchanged. The Commercial Portfolio of Branicks Group AG is not affected by the organisational change. The closing of the transaction is still subject to the usual, purely formal closing conditions. Branicks and VIB have also agreed that upon completion of the transfer, all claims of VIB against Branicks arising from the loan granted by VIB Vermögen AG to Branicks Group AG on July 7, 2023 in the amount of around €300 million will be offset.
VIB Vermögen AG (XTRA:VIH1) completed the acquisition of Institutional Business of Branicks Group AG (XTRA:DIC) on August 27, 2025. Reported Earnings • Aug 27
Second quarter 2025 earnings released: €0.09 loss per share (vs €1.10 loss in 2Q 2024) Second quarter 2025 results: €0.09 loss per share (improved from €1.10 loss in 2Q 2024). Revenue: €53.3m (down 19% from 2Q 2024). Net loss: €7.78m (loss narrowed 92% from 2Q 2024). Revenue is expected to fall by 23% p.a. on average during the next 3 years compared to a 2.2% decline forecast for the Real Estate industry in Europe. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 66 percentage points per year, which is a significant difference in performance. Ankündigung • Jul 15
Branicks Group AG, Annual General Meeting, Aug 20, 2025 Branicks Group AG, Annual General Meeting, Aug 20, 2025, at 10:00 W. Europe Standard Time. Buy Or Sell Opportunity • Jul 08
Now 20% undervalued Over the last 90 days, the stock has risen 19% to €2.16. The fair value is estimated to be €2.71, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 3.0% over the last 3 years. Meanwhile, the company became loss making. Revenue is forecast to decline by 46% in a year. Earnings are forecast to grow by 93% in the next year. New Risk • Jun 06
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Austrian stocks, typically moving 6.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (1.8% operating cash flow to total debt). Minor Risk Share price has been volatile over the past 3 months (6.3% average weekly change). Reported Earnings • May 09
First quarter 2025 earnings released: €0.18 loss per share (vs €0.11 loss in 1Q 2024) First quarter 2025 results: €0.18 loss per share (further deteriorated from €0.11 loss in 1Q 2024). Revenue: €54.4m (down 14% from 1Q 2024). Net loss: €15.1m (loss widened 61% from 1Q 2024). Revenue is expected to fall by 29% p.a. on average during the next 3 years compared to a 2.5% decline forecast for the Real Estate industry in Europe. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 75 percentage points per year, which is a significant difference in performance. New Risk • Apr 04
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Austrian stocks, typically moving 5.5% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (2.4% operating cash flow to total debt). Minor Risk Share price has been volatile over the past 3 months (5.5% average weekly change). Reported Earnings • Mar 12
Full year 2024 earnings released: €3.36 loss per share (vs €0.79 loss in FY 2023) Full year 2024 results: €3.36 loss per share (further deteriorated from €0.79 loss in FY 2023). Revenue: €251.6m (down 9.6% from FY 2023). Net loss: €281.1m (loss widened 326% from FY 2023). Revenue is expected to fall by 28% p.a. on average during the next 2 years compared to a 1.5% decline forecast for the Real Estate industry in Europe. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 80 percentage points per year, which is a significant difference in performance. Ankündigung • Nov 21
BRESTADT GmbH agreed to acquire Galeria Kaufhof in Bremen City Center from Branicks Group AG (XTRA:DIC) for €37.2 million. BRESTADT GmbH agreed to acquire Galeria Kaufhof in Bremen City Center from Branicks Group AG (XTRA:DIC) for €37.2 million on November 18, 2024. A cash consideration of €37.2 million will be paid by BRESTADT GmbH. The transaction is expected to close by the end of 2024. Reported Earnings • Nov 13
Third quarter 2024 earnings released: €0.32 loss per share (vs €0.08 loss in 3Q 2023) Third quarter 2024 results: €0.32 loss per share (further deteriorated from €0.08 loss in 3Q 2023). Revenue: €66.5m (down 1.8% from 3Q 2023). Net loss: €26.5m (loss widened 321% from 3Q 2023). Revenue is expected to fall by 22% p.a. on average during the next 3 years compared to a 1.7% decline forecast for the Real Estate industry in Europe. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 79 percentage points per year, which is a significant difference in performance. Reported Earnings • Aug 28
Second quarter 2024 earnings released: €1.10 loss per share (vs €0.18 loss in 2Q 2023) Second quarter 2024 results: €1.10 loss per share (further deteriorated from €0.18 loss in 2Q 2023). Revenue: €64.3m (down 3.6% from 2Q 2023). Net loss: €92.2m (loss widened €77.0m from 2Q 2023). Revenue is expected to fall by 26% p.a. on average during the next 3 years compared to a 2.8% decline forecast for the Real Estate industry in Europe. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 72 percentage points per year, which is a significant difference in performance. Buy Or Sell Opportunity • Aug 19
Now 20% overvalued Over the last 90 days, the stock has fallen 3.0% to €1.87. The fair value is estimated to be €1.55, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Meanwhile, the company became loss making. Revenue is forecast to decline by 40% in 2 years. Earnings are forecast to grow by 94% in the next 2 years. Ankündigung • Aug 16
An undisclosed buyer acquired Retail park property located in Stockstadt from Branicks Group AG (XTRA:DIC). An undisclosed buyer acquired Retail park property located in Stockstadt from Branicks Group AG (XTRA:DIC) on August 16, 2024.
An undisclosed buyer completed the acquisition of Retail park property located in Stockstadt from Branicks Group AG (XTRA:DIC) on August 16, 2024. Ankündigung • Jul 12
Branicks Group AG, Annual General Meeting, Aug 22, 2024 Branicks Group AG, Annual General Meeting, Aug 22, 2024, at 10:00 W. Europe Standard Time. Reported Earnings • May 02
Full year 2023 earnings released: €0.79 loss per share (vs €0.38 profit in FY 2022) Full year 2023 results: €0.79 loss per share (down from €0.38 profit in FY 2022). Revenue: €272.0m (down 14% from FY 2022). Net loss: €66.0m (down 313% from profit in FY 2022). Revenue is expected to fall by 23% p.a. on average during the next 2 years compared to a 1.3% decline forecast for the Real Estate industry in Europe. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 31 percentage points per year, which is a significant difference in performance. Ankündigung • Mar 06
Branicks Group AG to Report Fiscal Year 2023 Results on Apr 30, 2024 Branicks Group AG announced that they will report fiscal year 2023 results on Apr 30, 2024 Buy Or Sell Opportunity • Feb 06
Now 34% undervalued after recent price drop Over the last 90 days, the stock has fallen 59% to €1.68. The fair value is estimated to be €2.55, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years. Meanwhile, the company became loss making. Revenue is forecast to decline by 39% in 2 years. Earnings are forecast to grow by 72% in the next 2 years. New Risk • Nov 09
New major risk - Revenue and earnings growth Earnings have declined by 14% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.1x net interest cover). Share price has been highly volatile over the past 3 months (7.3% average weekly change). Earnings have declined by 14% per year over the past 5 years. Minor Risk Paying a dividend despite being loss-making. New Risk • Aug 25
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Austrian stocks, typically moving 5.2% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.1x net interest cover). Share price has been highly volatile over the past 3 months (5.2% average weekly change). Minor Risks Paying a dividend despite being loss-making. Shareholders have been diluted in the past year (2.1% increase in shares outstanding). Reported Earnings • Aug 04
Second quarter 2023 earnings released: €0.18 loss per share (vs €0.18 profit in 2Q 2022) Second quarter 2023 results: €0.18 loss per share (down from €0.18 profit in 2Q 2022). Revenue: €66.7m (down 22% from 2Q 2022). Net loss: €15.2m (down 205% from profit in 2Q 2022). Revenue is expected to decline by 17% p.a. on average during the next 3 years, while revenues in the Real Estate industry in Austria are expected to grow by 3.5%. Over the last 3 years on average, earnings per share has fallen by 52% per year but the company’s share price has only fallen by 29% per year, which means it has not declined as severely as earnings. New Risk • Jul 19
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.1% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.5x net interest cover). Earnings are forecast to decline by an average of 3.7% per year for the foreseeable future. Minor Risks Dividend is not well covered by earnings (287% payout ratio). Share price has been volatile over the past 3 months (5.4% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (6.7% net profit margin). Shareholders have been diluted in the past year (2.1% increase in shares outstanding). New Risk • Jul 14
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 3.7% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.5x net interest cover). Earnings are forecast to decline by an average of 3.7% per year for the foreseeable future. Minor Risks Dividend is not well covered by earnings (287% payout ratio). Share price has been volatile over the past 3 months (5.3% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (6.7% net profit margin). New Risk • Jul 13
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 19% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.5x net interest cover). Earnings are forecast to decline by an average of 19% per year for the foreseeable future. Minor Risks Dividend is not well covered by earnings (287% payout ratio). Share price has been volatile over the past 3 months (5.4% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (6.7% net profit margin). Valuation Update With 7 Day Price Move • Jul 13
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to €4.62, the stock trades at a forward P/E ratio of 109x. Average forward P/E is 13x in the Real Estate industry in Europe. Total loss to shareholders of 51% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €3.67 per share. Ankündigung • May 31
DIC Asset AG Appoints Michael Tegeder as Head of Corporate Finance DIC Asset AG appointed Michael Tegeder as its new Head of Corporate Finance. He takes over the position from Rutger Kaeding, who is leaving the company at his own request to pursue a new challenge. Mr. Tegeder has many years of industry experience in the real estate sector and is a financial expert. Before joining DIC he held senior positions at listed real estate companies with responsibility for corporate finance and investor relations, among them B&O Group, Patrizia AG and DAX-listed Vonovia SE. Reported Earnings • May 15
First quarter 2023 earnings released First quarter 2023 results: Revenue: €70.4m (up 17% from 1Q 2022). Net income: €96.0k (down 99% from 1Q 2022). Profit margin: 0.1% (down from 16% in 1Q 2022). Revenue is expected to decline by 1.8% p.a. on average during the next 3 years, while revenues in the Real Estate industry in Austria are expected to grow by 8.1%. Over the last 3 years on average, earnings per share has fallen by 36% per year but the company’s share price has only fallen by 19% per year, which means it has not declined as severely as earnings. Ankündigung • May 11
DIC Asset AG Reaffirms Earnings Guidance for the Year 2023 DIC Asset AG reaffirmed earnings guidance for the year 2023. The company forecast for its key earnings figures for the current financial year, which was issued in the context of the publication of the annual figures for 2022, remains unchanged. Valuation Update With 7 Day Price Move • Apr 03
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to €7.32, the stock trades at a forward P/E ratio of 28x. Average forward P/E is 13x in the Real Estate industry in Europe. Total loss to shareholders of 5.7% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €7.29 per share. Upcoming Dividend • Mar 24
Upcoming dividend of €0.75 per share at 8.7% yield Eligible shareholders must have bought the stock before 31 March 2023. Payment date: 02 May 2023. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 8.7%. Within top quartile of Austrian dividend payers (5.7%). Higher than average of industry peers (4.5%). Ankündigung • Feb 18
DIC Asset AG Proposes Dividend for the Year 2022 DIC Asset AG's Supervisory Board con-curred with the Management Board's recommendation to propose to the General Shareholders' Meeting that a dividend of EUR 0.75 per share carrying dividend rights be distributed to the shareholders from the retained earnings of financial year 2022 and that the remaining amount be carried forward to new account. Reported Earnings • Feb 16
Full year 2022 earnings released: EPS: €0.38 (vs €0.71 in FY 2021) Full year 2022 results: EPS: €0.38 (down from €0.71 in FY 2021). Revenue: €295.6m (up 24% from FY 2021). Net income: €31.0m (down 46% from FY 2021). Profit margin: 11% (down from 24% in FY 2021). Revenue is forecast to decline by 20% p.a. on average during the next 3 years, while revenues in the Real Estate industry in Europe are expected to remain flat. Over the last 3 years on average, earnings per share has fallen by 33% per year but the company’s share price has only fallen by 20% per year, which means it has not declined as severely as earnings. Ankündigung • Dec 16
DIC Asset AG Announces Executive Changes DIC Asset AG (DIC) announced changes in the composition of its management board. In the meeting of DIC AG's supervisory board, Torsten Doyen (52), who will head the institutional business segment as CIBO, and Christian Fritzsche (45), who will head the new operations segment as COO, were appointed as new ordinary members of the management board of DIC AG. They will join Johannes von Mutius, CIO, and Sonja Wärntges, CEO and CFO, who will continue to serve in their capacities. The board members Christian Bock (CIBO), currently responsible for the institutional business segment, and Patrick Weiden (CCMO), currently responsible for capital markets and M&A, will leave the management board of DIC AG by mutual agreement with effect from expiration of December 31, 2022. Torsten Doyen joined DIC AG in February 2021 and has been responsible for substantial parts of the institutional business segment as the managing director of GEG German Estate Group. A real estate management graduate and qualified savings bank professional, Torsten Doyen has many years of experience in working with corporate clients and institutional investors in the fields of conceptualization and sales as well as in the structuring, placing and managing of financial vehicles. Christian Fritzsche, who holds a degree in business administration, has worked in the real estate industry for more than 20 years. He joined DIC AG in 2010 and currently serves as the managing director of DIC Onsite GmbH. Reported Earnings • Nov 10
Third quarter 2022 earnings released: EPS: €0.03 (vs €0.16 in 3Q 2021) Third quarter 2022 results: EPS: €0.03 (down from €0.16 in 3Q 2021). Revenue: €75.8m (up 24% from 3Q 2021). Net income: €2.53m (down 81% from 3Q 2021). Profit margin: 3.3% (down from 22% in 3Q 2021). Revenue is forecast to grow 17% p.a. on average during the next 3 years, while revenues in the Real Estate industry in Europe are expected to remain flat. Over the last 3 years on average, earnings per share has fallen by 22% per year whereas the company’s share price has fallen by 17% per year. Ankündigung • Oct 27
DIC Asset AG, Annual General Meeting, Mar 30, 2023 DIC Asset AG, Annual General Meeting, Mar 30, 2023. Ankündigung • Oct 18
DIC Asset AG (XTRA:DIC) acquired Logistics asset in Oosterhout. DIC Asset AG (XTRA:DIC) acquired Logistics asset in Oosterhout effective October 17, 2022. The deal was completed a few days ago. Reported Earnings • Aug 04
Second quarter 2022 earnings released: EPS: €0.18 (vs €0.19 in 2Q 2021) Second quarter 2022 results: EPS: €0.18 (down from €0.19 in 2Q 2021). Revenue: €73.2m (up 25% from 2Q 2021). Net income: €14.5m (down 5.7% from 2Q 2021). Profit margin: 20% (down from 26% in 2Q 2021). Over the next year, revenue is expected to shrink by 25% compared to a 6.2% decline forecast for the industry in Austria. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings. Ankündigung • Jun 10
KINGSTONE Bavaria Süd, managed by KINGSTONE Real Estate acquired Core office property at Bavariafilmplatz 8 in Grünwald near Munich from DIC Asset AG (XTRA:DIC). KINGSTONE Bavaria Süd, managed by KINGSTONE Real Estate acquired Core office property at Bavariafilmplatz 8 in Grünwald near Munich from DIC Asset AG (XTRA:DIC) on June 9, 2022. Kreissparkasse München Starnberg Ebersberg provided the finance for acquisition. Arnecke Sibeth Dabelstein acted as legal advisor, Brand berger acted as technical advisor, KPMG acted as fiscal advisor, Westbridge acted as OpEx advisor, AgradBlue acted as ESG advisor and EmilyEstate acted as real estate advisor to KINGSTONE Real Estate. JLL acted as estate agents for DIC.
KINGSTONE Bavaria Süd, managed by KINGSTONE Real Estate completed the acquisition of Core office property at Bavariafilmplatz 8 in Grünwald near Munich from DIC Asset AG (XTRA:DIC) on June 9, 2022. Reported Earnings • May 13
First quarter 2022 earnings released: EPS: €0.12 (vs €0.27 in 1Q 2021) First quarter 2022 results: EPS: €0.12 (down from €0.27 in 1Q 2021). Revenue: €60.0m (up 9.3% from 1Q 2021). Net income: €9.39m (down 57% from 1Q 2021). Profit margin: 16% (down from 40% in 1Q 2021). Over the next year, revenue is expected to shrink by 23% compared to a 4.1% decline forecast for the industry in Austria. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Ankündigung • May 12
Dic Asset Ag Provides Guidance of Rental Income for 2022 DIC Asset AG provided guidance of rental income for 2022. The company now anticipates a gross rental income between EUR 170 and 180 million. Ankündigung • Apr 06
DIC Asset AG (XTRA:DIC) acquired Three Logistics Properties in Netherlands for €169 million. DIC Asset AG (XTRA:DIC) acquired Three Logistics Properties in Netherlands for €169 million on late March. Upcoming Dividend • Mar 18
Upcoming dividend of €0.75 per share Eligible shareholders must have bought the stock before 25 March 2022. Payment date: 02 May 2022. The company is paying out more than 100% of its profits and is paying out 87% of its cash flow. Trailing yield: 4.9%. Lower than top quartile of Austrian dividend payers (5.0%). Higher than average of industry peers (3.8%). Reported Earnings • Feb 10
Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat Full year 2021 results: EPS: €0.71 (down from €0.88 in FY 2020). Revenue: €232.8m (up 8.8% from FY 2020). Net income: €57.8m (down 18% from FY 2020). Profit margin: 25% (down from 33% in FY 2020). Revenue exceeded analyst estimates by 2.4%. Over the next year, revenue is expected to shrink by 55% compared to a 9.9% decline forecast for the industry in Austria. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has increased by 15% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Feb 10
Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat Full year 2021 results: EPS: €0.71 (down from €0.88 in FY 2020). Revenue: €232.8m (up 8.8% from FY 2020). Net income: €57.8m (down 18% from FY 2020). Profit margin: 25% (down from 33% in FY 2020). Revenue exceeded analyst estimates by 2.4%. Over the next year, revenue is expected to shrink by 55% compared to a 9.9% decline forecast for the industry in Austria. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has increased by 15% per year, which means it is tracking significantly ahead of earnings growth. Ankündigung • Jan 12
An unknown buyer acquired Office property in the Munich from DIC Office Balance V managed by DIC Asset AG (XTRA:DIC). An unknown buyer acquired Office property in the Munich from DIC Office Balance V managed by DIC Asset AG (XTRA:DIC) on December 31, 2021.
An unknown buyer completed the acquisition of Office property in the Munich from DIC Office Balance V managed by DIC Asset AG (XTRA:DIC) on December 31, 2021. Reported Earnings • Nov 14
Third quarter 2021 earnings released: EPS €0.16 (vs €0.12 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: €61.2m (up 21% from 3Q 2020). Net income: €13.4m (up 36% from 3Q 2020). Profit margin: 22% (up from 19% in 3Q 2020). Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has increased by 17% per year, which means it is tracking significantly ahead of earnings growth. Ankündigung • Sep 29
Geg Public Infrastructure II Fund, a fund managed by DIC Asset AG (XTRA:DIC) acquired Bonnanova office property for €95.2 million. Geg Public Infrastructure II Fund, a fund managed by DIC Asset AG (XTRA:DIC) acquired Bonnanova office property for €95.2 million on September 27, 2021. The transfer of possession, benefits and burdens is scheduled for the turn of the year.
Geg Public Infrastructure II Fund, a fund managed by DIC Asset AG (XTRA:DIC) completed the acquisition of Bonnanova office property on September 27, 2021. Reported Earnings • Aug 13
Second quarter 2021 earnings released: EPS €0.19 (vs €0.15 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: €58.6m (up 4.2% from 2Q 2020). Net income: €15.3m (up 24% from 2Q 2020). Profit margin: 26% (up from 22% in 2Q 2020). Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has increased by 15% per year, which means it is tracking significantly ahead of earnings growth. Ankündigung • Jun 08
DIC Asset AG (XTRA:DIC) acquired two office properties in Munich for approximately €640 million. DIC Asset AG (XTRA:DIC) acquired two office properties in Munich for approximately €640 million on June 7, 2021.
DIC Asset AG (XTRA:DIC) completed the acquisition of two office properties in Munich on June 7, 2021. Reported Earnings • May 08
First quarter 2021 earnings released: EPS €0.27 (vs €0.21 in 1Q 2020) The company reported a decent first quarter result with improved earnings and profit margins, although revenues were weaker. First quarter 2021 results: Revenue: €52.4m (down 3.5% from 1Q 2020). Net income: €22.1m (up 38% from 1Q 2020). Profit margin: 42% (up from 30% in 1Q 2020). Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has increased by 14% per year, which means it is tracking significantly ahead of earnings growth. Ankündigung • Apr 28
DIC Asset AG (XTRA:DIC) acquired Mercedes-Benz-Center Property in Cologne-West for €71 million. DIC Asset AG (XTRA:DIC) acquired Mercedes-Benz-Center Property in Cologne-West for €71 million on April 27, 2021.
DIC Asset AG (XTRA:DIC) completed the acquisition of Mercedes-Benz-Center Property in Cologne-West on April 27, 2021. Upcoming Dividend • Mar 19
Upcoming Dividend of €0.70 Per Share Will be paid on the 22nd of April to those who are registered shareholders by the 25th of March. The trailing yield of 4.4% is in the top quartile of Austrian dividend payers (3.4%), and it is in line with industry peers (4.2%). Is New 90 Day High Low • Mar 13
New 90-day high: €15.88 The company is up 29% from its price of €12.32 on 11 December 2020. The Austrian market is up 17% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Real Estate industry, which is up 15% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €9.49 per share. Ankündigung • Mar 10
DIC Asset AG Signs Logistics Leases for over 16,000 Sqm in Lehrte DIC Asset AG closed two long-term lease agreements through its subsidiary, RLI Investors GmbH, involving more than 16,000 sqm in a logistics property in the town of Lehrte, which lies inside the Hanover logistics region. Built in 2017, the property is held in the portfolio of the open-ended real estate special AIF "RLI Logistics Fund - Germany I" which is administrated by the INTREAL third-party AIFM. It is certified under the Gold sustainability standard of the DGNB German Sustainable Building Council. With these signings in place, the property, which is structured for long-term use, is now fully occupied. The lease signings for the property on Gewerbestrasse 23 involve a floor area expansion with long-term renewal option by existing tenant WELLPACK Deutschland GmbH, which thereby enlarges its total floor area by 9,600 sqm, and a unit of 6,500 sqm let on a new lease to the logistics firm Barsan Global Logistik GmbH (BGL). Ankündigung • Mar 09
CONREN Land AG acquired Villa Kennedy Hotel from DIC Asset AG (XTRA:DIC). CONREN Land AG acquired Villa Kennedy Hotel from DIC Asset AG (XTRA:DIC) on March 8, 2021. The sales price for the high-quality landmark property is in the upper double-digit million range. The property has been managed by the operating subsidiary GEG German Estate Group GmbH since 2015 as part of an individual mandate in third-party business for institutional investors.
CONREN Land AG completed the acquisition of Villa Kennedy Hotel from DIC Asset AG (XTRA:DIC) on March 8, 2021. Ankündigung • Feb 24
DIC Asset AG Launches Its First Logistics Property Fund DIC Asset AG launches a logistics property fund. This fund is the first product created in cooperation with its recently acquired subsidiary RLI Investors GmbH. RLI Investors belongs to DIC Asset AG since December 2020.
In addition to classic profitable logistics real estate, the "RLI-GEG Logistics & Light Industrial III" fund vehicle will invest into light industrial and urban logistics real estate. Germany as absolute core market will be supplemented by Benelux and Austria as established European markets next door. By doing so, DIC Asset AG invests abroad for the first time. The open-ended special AIF rates its risk profile as "Core /Core plus" and seeks a total investment volume of EUR 400 million. Its maturity will be ten to twelve years' maximum, while the targeted annual distribution is 4.5% to 5.0%. The logistics real estate fund is aimed at professional institutional investors who wish to diversify their portfolio with investment opportunities that substantially exceed the currently very low interest level. The fund already has a valuable seed portfolio which will allow an immediate capital investment for interested investors. The four logistics assets of the seed portfolio are located in leading logistics regions of Germany and have a combined volume of c. EUR 132 million, so that investors will start benefiting from an attractive distribution right away. Other properties are already undergoing pre-acquisition due diligence. Under consideration are standing properties and new-build units, portfolios as well as property developments with high alternative use potential. The acquisition volume per asset ranges from EUR 15 to 75 million. The special AIF is expected to reach its target volume within a three-year period. The administration of the fund will be handled by Hansainvest, a third-party AIFM. RLI Investors will continue to strengthen the real estate platform of DIC Asset AG with its know-how as logistics specialist in the future. Reported Earnings • Feb 13
Full year 2020 earnings released: EPS €0.88 (vs €1.13 in FY 2019) The company reported a soft full year result with weaker earnings and profit margins, although revenues improved. Full year 2020 results: Revenue: €213.9m (up 4.9% from FY 2019). Net income: €70.0m (down 14% from FY 2019). Profit margin: 33% (down from 40% in FY 2019). Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has increased by 12% per year, which means it is tracking significantly ahead of earnings growth. Is New 90 Day High Low • Feb 03
New 90-day high: €14.42 The company is up 39% from its price of €10.36 on 04 November 2020. The Austrian market is up 35% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Real Estate industry, which is up 40% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €8.60 per share. Is New 90 Day High Low • Dec 30
New 90-day high: €13.70 The company is up 34% from its price of €10.24 on 01 October 2020. The Austrian market is up 29% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Real Estate industry, which is up 21% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €8.50 per share. Ankündigung • Dec 20
DIC Asset AG (XTRA:DIC) acquired Galilei for €39 million. DIC Asset AG (XTRA:DIC) acquired Galilei for €39 million on December 18, 2020. GGV Grützmacher Gravert Viegener Partnerschaft mbB acted as legal advisor for DIC. Seller received legal advice from Clifford Chance in Frankfurt; technical consultancy was provided by CBRE-Preuss-Valteq.
DIC Asset AG (XTRA:DIC) completed the acquisition of Galilei on December 18, 2020. Is New 90 Day High Low • Dec 07
New 90-day high: €13.62 The company is up 22% from its price of €11.12 on 08 September 2020. The Austrian market is up 16% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Real Estate industry, which is up 11% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €7.53 per share. Ankündigung • Nov 22
DIC Asset AG, Annual General Meeting, Mar 24, 2021 DIC Asset AG, Annual General Meeting, Mar 24, 2021. Valuation Update With 7 Day Price Move • Nov 16
Market bids up stock over the past week After last week's 17% share price gain to €12.02, the stock is trading at a trailing P/E ratio of 11.7x, up from the previous P/E ratio of 10x. This compares to an average P/E of 18x in the Real Estate industry in Austria. Total returns to shareholders over the past three years are 34%. Is New 90 Day High Low • Nov 11
New 90-day high: €11.70 The company is up 5.0% from its price of €11.18 on 12 August 2020. The Austrian market is up 2.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Real Estate industry, which is down 2.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €7.54 per share. Ankündigung • Nov 06
DIC Asset AG Announces Executive Appointments DIC Asset AG is about to strengthen its human resource basis in the two strategic areas of logistics and ESG/sustainability. To this end, the company is creating two new senior positions on the group level. DIC Asset AG is planning to step up investments both in its proprietary holdings (Commercial Portfolio) and in its asset management business for third parties (Institutional Business). Martin Birkert, becoming the new Head of Logistics of DIC Asset AG, is an experienced real estate specialist who, starting in the first quarter of 2021, will push forward with the strategic expansion of this asset class in both of the company's business segments. Martin Birkert brings 15 years of experience in the areas of investment, asset management, consultancy and logistics real estate development to the job, having most recently served as Director for Transaction & Acquisition at Alpha Industrial Advisors. Prior stops in his career include the positions Head of Land Development at SEGRO Germany, Business Development & Letting Manager at nextparx, and Head of Logistics Real Estate at NAI Apollo. He has a degree in real estate economics from the International Real Estate Business School (IREBS) at the University of Regensburg. With the start of 2021, Dr. Kati Herzog will assume the newly created position of Head of Sustainability. In this role, she will coordinate the group-wide intensification of ESG activities and the implementation of a more dynamic sustainability strategy to be pursued by DIC Asset AG. Dr. Kati Herzog served most recently as Head of Degree Program and professor for real estate management and leadership at the Hamburg School of Business Administration (HSBA). Her previous positions include Head of Business Development for Apleona Bauperformance, where she was a member of the senior management and Head of Department for Sustainability & Energy Efficiency. Reported Earnings • Oct 30
Third quarter earnings released Over the last 12 months the company has reported total profits of €79.1m, up 46% from the prior year. Total revenue was €227.2m over the last 12 months, up 18% from the prior year. Is New 90 Day High Low • Oct 21
New 90-day low: €9.92 The company is down 11% from its price of €11.20 on 23 July 2020. The Austrian market is down 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Real Estate industry, which is down 10.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €7.27 per share. Ankündigung • Oct 06
DIC Asset AG (XTRA:DIC) acquired LOOK 21 Property on Heilbronner Strasse in downtown Stuttgart from USWM-Immobilien GmbH together with its two shareholders for EUR122 million. DIC Asset AG (XTRA:DIC) acquired LOOK 21 Property on Heilbronner Strasse in downtown Stuttgart from USWM-Immobilien GmbH together with its two shareholders for EUR122 million on October 1, 2020. The two shareholders of USWM-Immobilien GmbH are Südwestmetall (the Metal and Electrical Industry Employers' Association for Baden-Württemberg) and Unternehmensverband Südwest (an independent employers' association). The lease term is 12 years. PH REAL Peter Holtz Real Estate advised USWM-Immobilien GmbH.
DIC Asset AG (XTRA:DIC) completed the acquisition of LOOK 21 Property on Heilbronner Strasse in downtown Stuttgart from USWM-Immobilien GmbH together with its two shareholders on October 1, 2020. Ankündigung • Oct 02
DIC Asset AG (XTRA:DIC) acquired HangarOne from nesseler projektidee GmbH for €38 million. DIC Asset AG (XTRA:DIC) signed the purchase agreement to acquire HangarOne from nesseler projektidee GmbH for €38 million in September 2020. In a related transaction, DIC Asset signed the purchase agreement to acquire LOOK 21. The combined deal for both the transaction was €160 million.
DIC Asset AG (XTRA:DIC) completed the acquisition of HangarOne from nesseler projektidee GmbH on October 1, 2020. 
