Adler Group Management

Management criteria checks 2/4

We currently do not have sufficient information about the CEO.

Key information

Thierry Beaudemoulin

Chief executive officer

€1.1m

Total compensation

CEO salary percentage	55.5%
CEO tenure	2yrs
CEO ownership	n/a
Management average tenure	2yrs
Board average tenure	2.2yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Thierry Beaudemoulin's remuneration changed compared to Adler Group's earnings?
Date	Total Compensation	Salary	Company Earnings
Dec 31 2023	n/a	n/a	-€2b
Sep 30 2023	n/a	n/a	-€2b
Jun 30 2023	n/a	n/a	-€2b
Mar 31 2023	n/a	n/a	-€2b
Dec 31 2022	€1m	€600k	-€2b
Sep 30 2022	n/a	n/a	-€2b
Jun 30 2022	n/a	n/a	-€2b
Mar 31 2022	n/a	n/a	-€1b
Dec 31 2021	€1m	€600k	-€1b
Sep 30 2021	n/a	n/a	€432m
Jun 30 2021	n/a	n/a	€428m
Mar 31 2021	n/a	n/a	€276m
Dec 31 2020	€595k	€573k	€191m

Compensation vs Market: Thierry's total compensation ($USD1.16M) is above average for companies of similar size in the German market ($USD402.43K).

Compensation vs Earnings: Thierry's compensation has been consistent with company performance over the past year.

CEO

Thierry Beaudemoulin (52 yo)

2yrs

Tenure

€1,082,030

Compensation

Mr. Thierry Jean-Francois Beaudemoulin serves as Deputy Chairman of the Supervisory Board at Consus Real Estate AG. He serves as Chief Executive Officer at Adler Real Estate AG since June 2022. He has been...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Thierry Beaudemoulin	CEO, Daily Manager & Executive Director	2yrs	€1.08m	no data
Thomas Echelmeyer	CFO & Director	1.8yrs	€712.79k	no data
Sven-Christian Frank	Chief Legal Officer	3.6yrs	€620.30k	no data
Gundolf Moritz	Head of Investor Relations	2.1yrs	no data	no data
Melanie Falke	Head of Human Resources	no data	no data	no data
Hubertus Kobe	C.R.O	less than a year	no data	no data
Keren Yacobi	Controller	no data	no data	no data

2.0yrs

Average Tenure

55yo

Average Age

Experienced Management: ADJ's management team is considered experienced (2 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Thierry Beaudemoulin	CEO, Daily Manager & Executive Director	4.3yrs	€1.08m	no data
Thomas Echelmeyer	CFO & Director	less than a year	€712.79k	no data
Thomas Werner Zinnocker	Independent Director	3.6yrs	no data	no data
Stefan Brendgen	Chairman	less than a year	no data	no data
Heiner Arnoldi	Director	less than a year	no data	no data
Thilo Schmid	Independent Director	3.6yrs	no data	no data

2.2yrs

Average Tenure

59.5yo

Average Age

Experienced Board: ADJ's board of directors are not considered experienced ( 2.2 years average tenure), which suggests a new board.

Adler Group Management

Management criteria checks 2/4

Key information

Recent management updates

Less than half of directors are independent

High number of new and inexperienced directors

Adler Group S.A. Appoints Thomas Echelmeyer as Chief Financial Officer, Effective 1 September 2022

Dr. Bernd Schade to Step Down as CDO of Adler Group

Adler Group S.A. Appoints Thomas Echelmeyer as Interim Chief Financial Officer, Effective June 1, 2022

High number of new and inexperienced directors

Recent updates

Full year 2023 earnings released: €11.75 loss per share (vs €13.25 loss in FY 2022)

Adler Group S.A. to Report Q3, 2024 Results on Nov 28, 2024

Third quarter 2023 earnings released: €1.31 loss per share (vs €1.42 loss in 3Q 2022)

Second quarter 2023 earnings released: €6.73 loss per share (vs €4.93 loss in 2Q 2022)

Less than half of directors are independent

First quarter 2023 earnings released: €0.50 loss per share (vs €0.017 loss in 1Q 2022)

Adler Group S.A. to Report Fiscal Year 2022 Results on Sep 30, 2024

Adler Group S.A. Provides Earnings Guidance for the Year 2023

Full year 2022 earnings released: €13.25 loss per share (vs €10.02 loss in FY 2021)

Third quarter 2022 earnings released: €4.55 loss per share (vs €0.08 profit in 3Q 2021)

High number of new and inexperienced directors

Adler Reportedly Aims to Sell Part of Brack Capital Properties

Second quarter 2022 earnings released: €4.55 loss per share (vs €1.80 profit in 2Q 2021)

Adler Group S.A. Appoints Thomas Echelmeyer as Chief Financial Officer, Effective 1 September 2022

Institutional investors acquired two development projects in Frankfurt for €166 million.

First quarter 2022 earnings released: €0.02 loss per share (vs €0.97 profit in 1Q 2021)

Dr. Bernd Schade to Step Down as CDO of Adler Group

Adler Group S.A. Provides Revenue Guidance for the Year 2022

Adler Group S.A. Appoints Thomas Echelmeyer as Interim Chief Financial Officer, Effective June 1, 2022

Full year 2021 earnings released: €10.03 loss per share (vs €2.00 profit in FY 2020)

Adler Group Provides Earnings Guidance for the Year 2022

Price target decreased to €19.03

High number of new and inexperienced directors

Adler Group S.A. to Report Fiscal Year 2021 Results on Apr 30, 2022

Adler Group S.A. Appoints A. Stefan Kirsten as Member of Audit Committee, the Investment and Financing Committee and the Nomination and Compensation Committee

Investor sentiment improved over the past week

Investor sentiment improved over the past week

Adler Group S.A Announces Appointment of A. Stefan Kirsten as New Member and Chairman of the Board of Directors

Adler Group Announces Management Changes

Adler Group S.A. to Report Fiscal Year 2021 Final Results on Mar 31, 2022

Adler Group S.A. Announces Resignation of Michael Bütter from the Board of Directors

Price target decreased to €22.82

KKR Real Estate Partners Europe II (EUR) SCSp, managed by KKR & Co. Inc. (NYSE:KKR) along with and other managed funds signed a definitive agreement to acquire Residential Real Estate Portfolio of 14,400 Units from Adler Group S.A. (XTRA:ADJ) for approximately €600 million.

LEG Immobilien SE (XTRA:LEG) completed the acquisition of Portfolio of 15,350 residential units and 185 commercial units from Adler Group S.A. (XTRA:ADJ).

Investor sentiment improved over the past week

Investor sentiment improved over the past week

Third quarter 2021 earnings: Revenues exceed analysts expectations while EPS lags behind

Price target decreased to €25.80

Investor sentiment deteriorated over the past week

Second quarter 2021 earnings released: EPS €1.80 (vs €1.05 in 2Q 2020)

Upcoming dividend of €0.46 per share

First quarter 2021 earnings released: EPS €0.97 (vs €0.04 loss in 1Q 2020)

Adler Group S.A. Reiterates Earnings Guidance for the Year 2021

Adler Group S.A., Annual General Meeting, Jun 29, 2021

New 90-day high: €28.50

ADLER Group S.A. (XTRA:ADJ) completed the acquisition of an additional 28.9% stake in Consus Real Estate AG (XTRA:CC1).

ADLER Group S.A. (XTRA:ADJ) agreed to acquire an additional 28.9% stake in Consus Real Estate AG (XTRA:CC1) approximately €340 million.

New 90-day high: €26.38

Third quarter 2020 earnings released: EPS €0.07

Earnings beat expectations

Price target raised to €31.55

New 90-day low: €22.56

New 90-day low: €22.86

First half earnings released

ADO Properties S.A. (XTRA:ADJ) completed the acquisition of 91.93% stake in ADLER Real Estate AG (XTRA:ADL) from a group of shareholders for approximately €450 million.

ADO Properties S.A. (XTRA:ADJ) completed the acquisition of additional 51% stake in Consus Real Estate AG (XTRA:CC1) from Aggregate Holdings S.A..

ADO Properties S.A. has completed a Follow-on Equity Offering in the amount of €18.251055 million.

ADO Properties S.A. (XTRA:ADJ) exercised its option to acquire an additional 51% stake in Consus Real Estate AG (XTRA:CC1) from Aggregate Holdings S.A. for approximately €410 million.

CEO Compensation Analysis

CEO

Tenure

Compensation

Leadership Team

Average Tenure

Average Age

Board Members

Average Tenure

Average Age