Duyuru • Dec 09
UBM Development AG, Annual General Meeting, May 21, 2026 UBM Development AG, Annual General Meeting, May 21, 2026. Duyuru • Jan 27
UBM Development AG, Annual General Meeting, May 21, 2025 UBM Development AG, Annual General Meeting, May 21, 2025. New Risk • Jan 02
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 German stocks, typically moving 7.0% 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 Interest payments are not well covered by earnings (0.07x net interest cover). Minor Risk Share price has been volatile over the past 3 months (7.0% average weekly change). Board Change • Dec 30
No independent directors There are 4 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 4 new directors. No experienced directors. 8 highly experienced directors. No independent directors (4 non-independent directors). Independent Supervisory Board Chairman Karl-Heinz Strauss is the most experienced director on the board, commencing their role in 2011. Independent Supervisory Board Member Susanne Weiss was the last independent director to join the board, commencing their role in 2015. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of experienced directors. Reported Earnings • Aug 30
Second quarter 2024 earnings released: €0.79 loss per share (vs €4.19 loss in 2Q 2023) Second quarter 2024 results: €0.79 loss per share (improved from €4.19 loss in 2Q 2023). Revenue: €23.4m (up 17% from 2Q 2023). Net loss: €4.49m (loss narrowed 86% from 2Q 2023). Revenue is forecast to grow 25% p.a. on average during the next 3 years, compared to a 16% decline forecast for the Real Estate industry in Germany. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 86 percentage points per year, which is a significant difference in performance. Reported Earnings • May 30
First quarter 2024 earnings released: €1.27 loss per share (vs €0.15 loss in 1Q 2023) First quarter 2024 results: €1.27 loss per share (further deteriorated from €0.15 loss in 1Q 2023). Revenue: €18.1m (flat on 1Q 2023). Net loss: €9.48m (loss widened €8.34m from 1Q 2023). Revenue is forecast to grow 25% p.a. on average during the next 3 years, compared to a 17% decline forecast for the Real Estate industry in Germany. 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. Reported Earnings • Apr 12
Full year 2023 earnings released: €7.03 loss per share (vs €2.25 profit in FY 2022) Full year 2023 results: €7.03 loss per share (down from €2.25 profit in FY 2022). Revenue: €122.3m (down 8.7% from FY 2022). Net loss: €46.6m (down 377% from profit in FY 2022). Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 15% decline forecast for the Real Estate industry in Germany. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 65 percentage points per year, which is a significant difference in performance. Duyuru • Mar 13
Vienna Insurance Group AG (WBAG:VIG) acquired remaining 43% stake in Palais Hansen Immobilienentwicklung GmbH from Warimpex Finanz- und Beteiligungs AG (WBAG:WXF) and UBM Development AG (WBAG:UBS). Vienna Insurance Group AG (WBAG:VIG) acquired remaining 43% stake in Palais Hansen Immobilienentwicklung GmbH from Warimpex Finanz- und Beteiligungs AG (WBAG:WXF) and UBM Development AG (WBAG:UBS) on March 12, 2024.Vienna Insurance Group AG (WBAG:VIG) completed the acquisition of remaining 43% stake in Palais Hansen Immobilienentwicklung GmbH from Warimpex Finanz- und Beteiligungs AG (WBAG:WXF) and UBM Development AG (WBAG:UBS) on March 12, 2024. Reported Earnings • Nov 24
Third quarter 2023 earnings released Third quarter 2023 results: Revenue: €16.9m (down 42% from 3Q 2022). Net income: €14.4m (up €18.1m from 3Q 2022). Profit margin: 85% (up from net loss in 3Q 2022). Revenue is forecast to grow 28% p.a. on average during the next 3 years, compared to a 15% decline forecast for the Real Estate industry in Germany. Over the last 3 years on average, earnings per share has fallen by 58% per year but the company’s share price has only fallen by 17% per year, which means it has not declined as severely as earnings. Reported Earnings • Sep 01
Second quarter 2023 earnings released: €4.19 loss per share (vs €1.17 profit in 2Q 2022) Second quarter 2023 results: €4.19 loss per share (down from €1.17 profit in 2Q 2022). Revenue: €21.2m (down 62% from 2Q 2022). Net loss: €30.0m (down 442% from profit in 2Q 2022). Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 15% decline forecast for the Real Estate industry in Germany. Over the last 3 years on average, earnings per share has fallen by 60% per year but the company’s share price has only fallen by 14% per year, which means it has not declined as severely as earnings. Buying Opportunity • Aug 23
Now 24% undervalued after recent price drop Over the last 90 days, the stock is down 29%. The fair value is estimated to be €27.33, 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. Earnings per share has declined by 42%. Revenue is forecast to grow by 65% in 2 years. Earnings is forecast to grow by 121% in the next 2 years. Buying Opportunity • Jul 07
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 3.4%. The fair value is estimated to be €31.71, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 10% over the last 3 years. Earnings per share has declined by 42%. Revenue is forecast to grow by 84% in 2 years. Earnings is forecast to grow by 132% in the next 2 years. Reported Earnings • May 26
First quarter 2023 earnings released: EPS: €0.15 (vs €0.32 in 1Q 2022) First quarter 2023 results: EPS: €0.15 (down from €0.32 in 1Q 2022). Revenue: €23.0m (down 25% from 1Q 2022). Net loss: €1.14m (down 148% from profit in 1Q 2022). Revenue is forecast to grow 4.0% p.a. on average during the next 3 years, compared to a 22% decline forecast for the Real Estate industry in Germany. Over the last 3 years on average, earnings per share has fallen by 41% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings. Duyuru • May 19
UBM Development AG Announces Resignation of Martin Löcker as Member of the Management Board and COO, Effective June 30, 2023 Martin Löcker, Member of the Management Board and COO of UBM Development AG, has resigned from the Management Board prematurely, effective as of 30 June 2023. Upcoming Dividend • May 17
Upcoming dividend of €1.10 per share at 3.4% yield Eligible shareholders must have bought the stock before 24 May 2023. Payment date: 30 May 2023. Payout ratio is a comfortable 49% but the company is not cash flow positive. Trailing yield: 3.4%. Lower than top quartile of German dividend payers (4.7%). Lower than average of industry peers (3.9%). Reported Earnings • Apr 18
Full year 2022 earnings released: EPS: €2.25 (vs €4.50 in FY 2021) Full year 2022 results: EPS: €2.25 (down from €4.50 in FY 2021). Revenue: €172.1m (down 38% from FY 2021). Net income: €25.9m (down 23% from FY 2021). Profit margin: 15% (up from 12% in FY 2021). Revenue is forecast to grow 4.8% p.a. on average during the next 3 years, compared to a 35% decline forecast for the Real Estate industry in Germany. Over the last 3 years on average, earnings per share has fallen by 37% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Buying Opportunity • Apr 05
Now 20% undervalued Over the last 90 days, the stock is up 9.7%. The fair value is estimated to be €32.66, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 33%. Revenue is forecast to grow by 43% in 2 years. Earnings is forecast to grow by 195% in the next 2 years. Reported Earnings • Nov 26
Third quarter 2022 earnings released: €0.49 loss per share (vs €0.77 profit in 3Q 2021) Third quarter 2022 results: €0.49 loss per share (down from €0.77 profit in 3Q 2021). Revenue: €36.2m (down 49% from 3Q 2021). Net loss: €3.68m (down 164% from profit in 3Q 2021). Revenue is forecast to grow 5.5% p.a. on average during the next 3 years, compared to a 13% decline forecast for the Real Estate industry in Germany. 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 14% per year, which means it has not declined as severely as earnings. Duyuru • Nov 15
UBM Development AG to Report Fiscal Year 2022 Results on Mar 29, 2023 UBM Development AG announced that they will report fiscal year 2022 results on Mar 29, 2023 Reported Earnings • Aug 26
Second quarter 2022 earnings released: EPS: €1.17 (vs €1.90 in 2Q 2021) Second quarter 2022 results: EPS: €1.17 (down from €1.90 in 2Q 2021). Revenue: €65.8m (down 38% from 2Q 2021). Net income: €8.77m (down 38% from 2Q 2021). Profit margin: 13% (in line with 2Q 2021). Over the next year, revenue is forecast to grow 49% compared to a 48% decline forecast for the Real Estate industry in Germany. Over the last 3 years on average, earnings per share has fallen by 23% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Jun 18
Investor sentiment deteriorated over the past week After last week's 15% share price decline to €33.00, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 8x 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 €54.37 per share. Reported Earnings • May 26
First quarter 2022 earnings released First quarter 2022 results: Revenue: €39.2m (down 6.5% from 1Q 2021). Net income: €4.83m (down 46% from 1Q 2021). Profit margin: 12% (down from 21% in 1Q 2021). The decrease in margin was primarily driven by lower revenue. Over the next year, revenue is forecast to grow 31% compared to a 42% decline forecast for the industry in Germany. Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Upcoming Dividend • May 12
Upcoming dividend of €2.25 per share Eligible shareholders must have bought the stock before 19 May 2022. Payment date: 23 May 2022. Payout ratio is a comfortable 50% but the company is not cash flow positive. Trailing yield: 5.5%. Within top quartile of German dividend payers (4.2%). Higher than average of industry peers (4.2%). Reported Earnings • Apr 09
Full year 2021 earnings released: EPS: €4.50 (vs €4.39 in FY 2020) Full year 2021 results: EPS: €4.50 (up from €4.39 in FY 2020). Revenue: €326.1m (up 78% from FY 2020). Net income: €42.2m (up 29% from FY 2020). Profit margin: 13% (down from 18% in FY 2020). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 6.3% compared to a 34% decline forecast for the industry in Germany. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Buying Opportunity • Jan 14
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 3.2%. The fair value is estimated to be €53.98, however is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 30% per annum over the last 3 years. Earnings per share has declined by 9.6% per annum over the last 3 years. Buying Opportunity • Jan 14
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 3.2%. The fair value is estimated to be €53.98, however is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 30% per annum over the last 3 years. Earnings per share has declined by 9.6% per annum over the last 3 years. Reported Earnings • Aug 26
Second quarter 2021 earnings released: EPS €1.90 (vs €0.25 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: €118.2m (up 209% from 2Q 2020). Net income: €16.0m (up €14.1m from 2Q 2020). Profit margin: 14% (up from 4.8% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Reported Earnings • May 26
First quarter 2021 earnings released: EPS €1.20 (vs €2.74 in 1Q 2020) The company reported a soft first quarter result with weaker earnings and profit margins, although revenues improved. First quarter 2021 results: Revenue: €49.1m (up 19% from 1Q 2020). Net income: €10.7m (down 48% from 1Q 2020). Profit margin: 22% (down from 50% in 1Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has remained flat whereas the company’s share price has increased by 1% per year. Upcoming Dividend • May 26
Upcoming dividend of €2.20 per share Eligible shareholders must have bought the stock before 02 June 2021. Payment date: 04 June 2021. Trailing yield: 5.0%. Within top quartile of German dividend payers (3.2%). Higher than average of industry peers (3.0%). Reported Earnings • Apr 25
Full year 2020 earnings released: EPS €4.39 (vs €7.10 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: €219.4m (down 9.3% from FY 2019). Net income: €39.8m (down 25% from FY 2019). Profit margin: 18% (down from 22% in FY 2019). Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Feb 10
New 90-day high: €38.60 The company is up 21% from its price of €31.90 on 11 November 2020. The German market is up 11% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Real Estate industry, which is up 3.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €55.96 per share. Is New 90 Day High Low • Jan 06
New 90-day high: €36.00 The company is up 22% from its price of €29.60 on 08 October 2020. The German market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Real Estate industry, which is up 4.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €54.74 per share. Analyst Estimate Surprise Post Earnings • Nov 28
Revenue misses expectations Revenue missed analyst estimates by 22%. Over the next year, revenue is forecast to grow 37% compared to a 31% decline forecast for the Real Estate industry in Germany. Reported Earnings • Nov 28
Third quarter 2020 earnings released: EPS €0.64 The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2020 results: Revenue: €56.3m (down 38% from 3Q 2019). Net income: €6.60m (down 62% from 3Q 2019). Profit margin: 12% (down from 19% in 3Q 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Duyuru • Nov 24
HanseMerkur Grundvermögen AG acquired F.A.Z. Tower in Frankfurt from UBM Development AG (WBAG:UBS) for approximately €200 million. HanseMerkur Grundvermögen AG acquired F.A.Z. Tower in Frankfurt from UBM Development AG (WBAG:UBS) for approximately €200 million on November 23, 2020. HanseMerkur Grundvermögen AG acquired the tower for one of its investment vehicles.
HanseMerkur Grundvermögen AG completed the acquisition of F.A.Z. Tower in Frankfurt from UBM Development AG (WBAG:UBS) on November 23, 2020. Is New 90 Day High Low • Nov 24
New 90-day high: €34.80 The company is up 15% from its price of €30.30 on 25 August 2020. The German market is up 1.0% 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 €50.03 per share. Valuation Update With 7 Day Price Move • Nov 10
Market bids up stock over the past week After last week's 19% share price gain to €31.50, the stock is trading at a trailing P/E ratio of 4.2x, up from the previous P/E ratio of 3.6x. This compares to an average P/E of 11x in the Real Estate industry in Germany. Total return to shareholders over the past three years is a loss of 5.9%. Is New 90 Day High Low • Oct 30
New 90-day low: €27.20 The company is down 3.0% from its price of €27.90 on 31 July 2020. The German market is down 4.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed 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 €49.42 per share. Duyuru • Aug 28
UBM Development AG to Report Fiscal Year 2020 Results on Apr 23, 2021 UBM Development AG announced that they will report fiscal year 2020 results at 8:09 AM, GMT Standard Time on Apr 23, 2021