Report

RCM Beteiligungs - Building strongly

RCM Beteiligungs continues to please with H119 PBT of €4.1m comfortably exceeding management’s guidance of an improvement in full-year PBT (€2.9m+). Although the driver may have been a bumper c €10m disposal in Q1, the second quarter also saw a y-o-y step-change in PBT, boosted by markedly lower finance costs thanks to interim reinvestment of asset sale proceeds. Even if 2019 guidance has not been updated, favourable macro factors and scope for efficiencies and asset development support RCM’s positive outlook, as does its commitment to re-build its portfolio (both commercial and residential), as confirmed by two recent deals of size.
Underlying
RCM Beteiligungs AG

RCM Beteiligungs Aktiengesellschaft. RCM Beteiligungs AG is a Germany-based investment company that invests in real estate and third companies. In the real estate segment, the Company focuses on residential real estate properties in Eastern Germany. The Company operates through SM Wirtschaftsberatung AG, SM Capital AG, SM Domestic Property AG, Krocker GmbH Dresden and Apollo Hausverwaltung GmbH Dresden.

Provider
Edison Investment Research
Edison Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

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Analysts
Richard Finch

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