XTRA:A4Y

Stock Analysis Report

ACCENTRO Real Estate

Executive Summary

ACCENTRO Real Estate AG, together with its subsidiaries, engages in the operation and trading of residential properties and individual apartments in Germany.

Snowflake

Fundamentals

Adequate balance sheet second-rate dividend payer.


Similar Companies

Share Price & News

How has ACCENTRO Real Estate's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

-4.2%

XTRA:A4Y

-2.0%

DE Real Estate

0.8%

DE Market


1 Year Return

-28.4%

XTRA:A4Y

-8.9%

DE Real Estate

-10.9%

DE Market

A4Y underperformed the Real Estate industry which returned -8.9% over the past year.

A4Y underperformed the Market in Germany which returned -10.9% over the past year.


Share holder returns

A4YIndustryMarket
7 Day-4.2%-2.0%0.8%
30 Day-4.8%-3.2%-5.0%
90 Day-5.9%-12.0%-2.9%
1 Year-27.0%-28.4%-6.4%-8.9%-8.1%-10.9%
3 Year7.3%1.9%21.1%11.7%10.4%0.9%
5 Year259.1%241.2%118.7%87.3%25.5%8.1%

Price Volatility Vs. Market

How volatile is ACCENTRO Real Estate's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is ACCENTRO Real Estate undervalued based on future cash flows and its price relative to the stock market?

16.46x

Price to Earnings (PE) ratio


Intrinsic Value Based on Future Cash Flows

ACCENTRO Real Estate's share price is above the future cash flow value, it's not available at a moderate discount (< 20%).

ACCENTRO Real Estate's share price is above the future cash flow value, it's not available at a substantial discount (< 40%).


Price Based on Earnings

ACCENTRO Real Estate is overvalued based on earnings compared to the DE Real Estate industry average.

ACCENTRO Real Estate is good value based on earnings compared to the Germany market.


Price Based on Expected Growth

ACCENTRO Real Estate is poor value based on expected growth next year.


Price Based on Value of Assets

ACCENTRO Real Estate is overvalued based on assets compared to the DE Real Estate industry average.


Next Steps

Future Growth

How is ACCENTRO Real Estate expected to perform in the next 1 to 3 years based on estimates from 5 analysts?

11.2%

Forecasted annual earnings growth


Earnings and Revenue Growth Estimates


Future Annual Growth Analysis

ACCENTRO Real Estate's revenue is expected to grow by 10.4% yearly, however this is not considered high growth (20% yearly).

ACCENTRO Real Estate's earnings are expected to grow by 11.2% yearly, however this is not considered high growth (20% yearly).

ACCENTRO Real Estate's revenue growth is expected to exceed the Germany market average.

ACCENTRO Real Estate's earnings growth is positive but not above the Germany market average.

ACCENTRO Real Estate's earnings growth is expected to exceed the low risk savings rate of 0.2%.


Earnings per Share Growth Estimates


Future Return on Equity

ACCENTRO Real Estate is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).


Next Steps

Past Performance

How has ACCENTRO Real Estate performed over the past 5 years?

26.8%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

ACCENTRO Real Estate has delivered over 20% year on year earnings growth in the past 5 years.

ACCENTRO Real Estate's 1-year earnings growth is negative, it can't be compared to the 5-year average.

ACCENTRO Real Estate's 1-year earnings growth is negative, it can't be compared to the DE Real Estate industry average.


Return on Equity

ACCENTRO Real Estate has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).


Return on Assets

ACCENTRO Real Estate used its assets less efficiently than the DE Real Estate industry average last year based on Return on Assets.


Return on Capital Employed

ACCENTRO Real Estate has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).


Next Steps

Financial Health

How is ACCENTRO Real Estate's financial position?


Financial Position Analysis

ACCENTRO Real Estate is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.

ACCENTRO Real Estate's cash and other short term assets cover its long term commitments.


Debt to Equity History and Analysis

ACCENTRO Real Estate's level of debt (132.8%) compared to net worth is high (greater than 40%).

The level of debt compared to net worth has been reduced over the past 5 years (162% vs 132.8% today).

Operating cash flow is negative therefore debt is not well covered.

Interest payments on debt are well covered by earnings (EBIT is 4.1x coverage).


Balance Sheet

High level of physical assets or inventory.

Debt is covered by short term assets, assets are 1.6x debt.


Next Steps

Dividend

What is ACCENTRO Real Estate's current dividend yield, its reliability and sustainability?

2.45%

Expected Dividend Yield


Dividend Yield and Payments Analysis

ACCENTRO Real Estate's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.53%).

ACCENTRO Real Estate's dividend is below the markets top 25% of dividend payers in Germany (4.08%).

It is too early to tell whether ACCENTRO Real Estate has stable dividend payments.

ACCENTRO Real Estate only just started paying a dividend, it is too early to tell if payments are increasing.


Current Payout to Shareholders

Dividends paid are well covered by earnings (2.8x coverage).


Future Payout to Shareholders

Dividends after 3 years are expected to be well covered by earnings (4.1x coverage).


Next Steps

Management

What is the CEO of ACCENTRO Real Estate's salary, the management and board of directors tenure and is there insider trading?

7.3yrs

Average management tenure


CEO

Jacopo Mingazzini (53yo)

7.3yrs

Tenure

€744,000

Compensation

Mr. Jacopo Mingazzini has been a Member of the Management Board at Accentro Real Estate AG since March 16, 2012 and serves as its Chief Executive Officer. Mr. Mingazzini serves as the Managing Director of  ...


CEO Compensation Analysis

Jacopo's remuneration is higher than average for companies of similar size in Germany.

Jacopo's compensation has been consistent with company performance over the past year, both up more than 20%.


Management Age and Tenure

7.3yrs

Average Tenure

The average tenure for the ACCENTRO Real Estate management team is over 5 years, this suggests they are a seasoned and experienced team.


Board Age and Tenure

4.9yrs

Average Tenure

The tenure for the ACCENTRO Real Estate board of directors is about average.


Insider Trading

No 3 month open market individual insider trading information.


Ownership Breakdown


Management Team

  • Corina Büchold (56yo)

    Executive officer

    • Tenure: 9.6yrs
  • Rudolf Beger

    Managing Director of Sales

    • Tenure: 12.1yrs
  • Jacopo Mingazzini (53yo)

    CEO, CFO

    • Tenure: 7.3yrs
    • Compensation: €744.00k
  • Christian Wesner

    Chief Commercial Officer

    • Tenure: 6.7yrs
  • Imke Dombrowski

    In-House Lawyer

    • Tenure: 6.7yrs
  • Nicole Birth

    Investor Relations Professional

    • Tenure: 0.0yrs

Board Members

  • Axel Harloff (60yo)

    Supervisory Board Chairman

    • Tenure: 4.9yrs
    • Compensation: €60.00k
  • Dirk Hoffmann (66yo)

    Deputy Chairman of Supervisory Board

    • Tenure: 4.9yrs
    • Compensation: €45.00k
  • Natig Ganiyev

    Supervisory Board Member

    • Tenure: 1.7yrs
    • Compensation: €30.00k

Company Information

ACCENTRO Real Estate AG's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: ACCENTRO Real Estate AG
  • Ticker: A4Y
  • Exchange: XTRA
  • Founded: 1993
  • Industry: Real Estate Services
  • Sector: Real Estate
  • Market Cap: €257.882m
  • Shares outstanding: 32.44m
  • Website: https://www.accentro.ag

Number of Employees


Location

  • ACCENTRO Real Estate AG
  • Uhlandstrasse 165
  • Berlin
  • 10719
  • Germany

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
A4YDB (Deutsche Boerse AG)YesBearer SharesDEEURApr 2007
0LSE (London Stock Exchange)YesBearer SharesGBEURApr 2007
A4YXTRA (XETRA Trading Platform)YesBearer SharesDEEURApr 2007

Biography

ACCENTRO Real Estate AG, together with its subsidiaries, engages in the operation and trading of residential properties and individual apartments in Germany. It is involved in the retailing of apartments t ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/08/24 21:24
End of Day Share Price2019/08/23 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.