Buy Or Sell Opportunity • Aug 18
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 3.8% to €10.14. The fair value is estimated to be €12.82, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to decline by 14% in 2 years. Earnings are forecast to decline by 25% in the next 2 years. New Risk • Jul 22
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 9.5% 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 Risk Earnings are forecast to decline by an average of 9.5% per year for the foreseeable future. Minor Risk Large one-off items impacting financial results. Board Change • May 20
Less than half of directors are independent Following the recent departure of a director, there are only 5 independent directors on the board. The company's board is composed of: 5 independent directors. 7 non-independent directors. Independent Director Azucena Viñuela Hernández was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Aankondiging • Mar 26
Metrovacesa S.A., Annual General Meeting, Apr 28, 2026 Metrovacesa S.A., Annual General Meeting, Apr 28, 2026. Location: calle principe de vergara 187, plaza de rodrigo uria, madrid., Spain Aankondiging • Feb 11
Metrovacesa S.A. to Report Fiscal Year 2025 Results on Feb 24, 2026 Metrovacesa S.A. announced that they will report fiscal year 2025 results at 9:00 AM, Romance Standard Time on Feb 24, 2026 Aankondiging • Jul 10
Metrovacesa S.A. to Report First Half, 2025 Results on Jul 23, 2025 Metrovacesa S.A. announced that they will report first half, 2025 results on Jul 23, 2025 Aankondiging • Mar 28
Metrovacesa S.A., Annual General Meeting, Apr 28, 2025 Metrovacesa S.A., Annual General Meeting, Apr 28, 2025. Location: calle principe de vergara 187, plaza de rodrigo uria, madrid Spain Aankondiging • Feb 10
Metrovacesa S.A. to Report Fiscal Year 2024 Results on Feb 19, 2025 Metrovacesa S.A. announced that they will report fiscal year 2024 results Pre-Market on Feb 19, 2025 Buy Or Sell Opportunity • Aug 02
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 5.4% to €8.11. The fair value is estimated to be €10.22, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 3.1% per annum. Earnings are also forecast to grow by 22% per annum over the same time period. Aankondiging • Jul 12
Metrovacesa S.A. to Report First Half, 2024 Results on Jul 24, 2024 Metrovacesa S.A. announced that they will report first half, 2024 results on Jul 24, 2024 Upcoming Dividend • May 14
Upcoming dividend of €0.36 per share Eligible shareholders must have bought the stock before 21 May 2024. Payment date: 23 May 2024. Trailing yield: 7.3%. Within top quartile of German dividend payers (4.6%). Higher than average of industry peers (3.0%). Aankondiging • Mar 20
Metrovacesa S.A., Annual General Meeting, Apr 30, 2024 Metrovacesa S.A., Annual General Meeting, Apr 30, 2024, at 13:00 Central European Standard Time. Location: calle Príncipe de Vergara, 187, Plaza de Rodrigo Uría, 28002 Madrid Spain Agenda: To consider and Review and approval, when relevant, of the individual annual financial statements of Metrovacesa, S.A. (balance sheet, profit and loss statement, statement of changes in equity, cash flow statement and report) and the consolidated annual financial statements corresponding to the FY closed on 31 December 2023, and the directors' reports of Metrovacesa, S.A. and its consolidated group corresponding to the same FY; to review and approval, if applicable, of the management and actions of the Board of Directors during the financial year ended on 31 December 2023; to consider approval, if applicable, of distribution of dividends charged to freely available reserves; and to transact other business. Aankondiging • Feb 16
Metrovacesa S.A. to Report Fiscal Year 2023 Results on Feb 28, 2024 Metrovacesa S.A. announced that they will report fiscal year 2023 results Pre-Market on Feb 28, 2024 Upcoming Dividend • Dec 12
Inaugural dividend of €0.33 per share Eligible shareholders must have bought the stock before 19 December 2023. Payment date: 21 December 2023. This is the first dividend for Metrovacesa since going public. The average dividend yield among industry peers is 3.4%. Aankondiging • Oct 12
Metrovacesa S.A. to Report Q3, 2023 Results on Oct 25, 2023 Metrovacesa S.A. announced that they will report Q3, 2023 results Pre-Market on Oct 25, 2023 Aankondiging • Jul 13
Metrovacesa S.A. to Report First Half, 2023 Results on Jul 26, 2023 Metrovacesa S.A. announced that they will report first half, 2023 results on Jul 26, 2023 Upcoming Dividend • May 10
Inaugural dividend of €0.33 per share Eligible shareholders must have bought the stock before 17 May 2023. Payment date: 19 May 2023. This is the first dividend for Metrovacesa since going public. The average dividend yield among industry peers is 4.0%. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 8 non-independent directors. Independent Director Azucena Viñuela Hernández was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Oct 29
Investor sentiment improved over the past week After last week's 18% share price gain to €6.97, the stock trades at a forward P/E ratio of 27x. Average forward P/E is 7x in the Real Estate industry in Germany. Negligible returns to shareholders over past three years. Simply Wall St's valuation model estimates the intrinsic value at €8.81 per share. Board Change • Jun 22
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 8 non-independent directors. Independent Director Azucena Viñuela Hernández was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Aankondiging • Jun 22
FCyC, S.L. completed the acquisition of a 11.47% stake in Metrovacesa S.A. (BME:MVC) for approximately €130 million. FCyC, S.L. made a tender offer to acquire an additional 24% stake in Metrovacesa S.A. (BME:MVC) for approximately €280 million on March 23, 2022. Under the terms, 36,402,322 will be acquired at a price of €7.80 per share. Currently FCyC holds 5.4% stake in Metrovacesa and post acquisition stake will increase to 30%. Santander and BBVA holds 49.3% and 20.85% stake in Metrovacesa respectively. As of May 26, 2022, The Council of the National Securities Market Commission (CNMV) has authorized the transaction. Alberto Alonso , Antonio Roncero and Miguel Sánchez of Ecija Abogados acted as legal advisor to Fomento de Construcciones y Contratas. Gabriel Nuñez of Uría Menéndez Abogados, S.L.P. acted as a legal advisor to Metrovacesa S.A. Metrovacesa appointed BofA Securities to provide a fairness opinion on the fairness, from a financial point of view, of the operation for the company's shareholders. Esteban Arza of Linklaters Madrid Advising Bank of America, as financial advisor of Metrovacesa S.A.'s Board of Directors.
FCyC, S.L. completed the acquisition of a 11.47% stake in Metrovacesa S.A. (BME:MVC) for approximately €130 million on June 20, 2022. Upcoming Dividend • May 11
Inaugural dividend of €0.60 per share Eligible shareholders must have bought the stock before 18 May 2022. Payment date: 20 May 2022. This is the first dividend for Metrovacesa since going public. The average dividend yield among industry peers is 4.3%. Aankondiging • May 04
Metrovacesa S.A. to Report Q1, 2022 Results on May 04, 2022 Metrovacesa S.A. announced that they will report Q1, 2022 results Pre-Market on May 04, 2022 Aankondiging • Apr 01
Metrovacesa S.A., Annual General Meeting, May 03, 2022 Metrovacesa S.A., Annual General Meeting, May 03, 2022, at 13:00 Central European Standard Time. Location: Príncipe de Vergara, 187, Plaza de Rodrigo Uría, 28002 Madrid Spain Agenda: To review and approval, when relevant, of the individual annual financial statements of the company (balance sheet, profit and loss statement, statement of changes in equity, cash flow statement and report) and the consolidated annual financial statements corresponding to the FY closed on 31 December 2021, and the directors' reports of company and its consolidated group corresponding to the same FY; to Review and approval, if applicable, of the management and actions of the Board of Directors during the financial year ended on 31 December 2021; to Review and approval, if applicable, of the proposal for the individual appropriation of earnings corresponding to the financial year ended on 31 December 2021; and to consider other matters. Aankondiging • Feb 20
Metrovacesa S.A. to Report Fiscal Year 2021 Results on Feb 25, 2022 Metrovacesa S.A. announced that they will report fiscal year 2021 results Pre-Market on Feb 25, 2022 Breakeven Date Change • Dec 31
Forecast breakeven date pushed back to 2022 The 5 analysts covering Metrovacesa previously expected the company to break even in 2021. New consensus forecast suggests the company will make a profit of €31.9m in 2022. Average annual earnings growth of 43% is required to achieve expected profit on schedule. Upcoming Dividend • Dec 08
Upcoming dividend of €0.40 per share Eligible shareholders must have bought the stock before 14 December 2021. Payment date: 16 December 2021. The company is not currently making a profit and is not cash flow positive. Trailing yield: 5.4%. Within top quartile of German dividend payers (3.4%). Higher than average of industry peers (3.3%). Breakeven Date Change • Sep 23
Forecast to breakeven in 2021 The 4 analysts covering Metrovacesa expect the company to break even for the first time. New consensus forecast suggests the company will make a profit of €24.0m in 2021. Earnings growth of 44% is required to achieve expected profit on schedule. Upcoming Dividend • May 11
Upcoming dividend of €0.40 per share Eligible shareholders must have bought the stock before 18 May 2021. Payment date: 20 May 2021. Trailing yield: 5.1%. Within top quartile of German dividend payers (3.2%). Higher than average of industry peers (3.2%). Analyst Estimate Surprise Post Earnings • Feb 25
Revenue misses expectations Revenue missed analyst estimates by 42%. Over the next year, revenue is forecast to grow 204% compared to a 32% decline forecast for the Real Estate industry in Germany. Is New 90 Day High Low • Dec 09
New 90-day high: €6.41 The company is up 3.0% from its price of €6.25 on 10 September 2020. The German 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 1.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €17.45 per share. Is New 90 Day High Low • Nov 05
New 90-day low: €4.73 The company is down 30% from its price of €6.74 on 07 August 2020. The German market is down 1.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Real Estate industry, which is flat over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €15.13 per share. Analyst Estimate Surprise Post Earnings • Nov 05
Revenue misses expectations Revenue missed analyst estimates by 62%. Over the next year, revenue is forecast to grow 242% compared to a 32% decline forecast for the Real Estate industry in Germany. Is New 90 Day High Low • Sep 24
New 90-day low: €5.62 The company is down 10.0% from its price of €6.22 on 26 June 2020. The German market is up 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Real Estate industry, which is up 6.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €36.08 per share. Aankondiging • Sep 24
Metrovacesa S.A. (BME:MVC) made an offer to acquire remaining 0.03% stake in Metrovacesa Promoción Y Arrendamiento S.A. for €0.09 million. Metrovacesa S.A. (BME:MVC) made an offer to acquire remaining 0.03% stake in Metrovacesa Promoción Y Arrendamiento S.A for €0.09 million on September 22, 2020. As per the transaction, shareholders of Metrovacesa Promoción Y Arrendamiento S.A can elect to receive consideration in cash or shares of Metrovacesa S.A. For cash consideration, Metrovacesa S.A. shall pay €0.1152 per share and for shares, exchange ratio will be 143:1. Metrovacesa S.A. shall pay maximum of €0.09 million in cash or maximum of 5771 shares in cash of share exchange. 
