029 Group SE: Positive Developments Despite HOLD Classification

The recent research update on 029 Group SE by NuWays AG highlights key financial advancements, notably following the divestment of Emerald Stay. The company's net income improved to €0.7 million from a €0.4 million loss last year, aided by reduced operating expenses and a significant €0.94 million income from the divestment. The sale of a 5.2% stake in Emerald Stay is expected to yield approximately €1.6 million in gross proceeds.

Limestone Capital, a major holding within 029 Group SE, expanded its portfolio with the opening of a new 57-room hotel, Aethos Sardina. Additionally, Limestone played a significant role in a €40 million financing round for MYNE Homes, enhancing co-ownership offerings across Europe.

Leadership changes were announced with Leon Sander stepping into the role of Managing Director, succeeding Lorin Van Nuland. The portfolio continues to grow, with TRIP Drinks and hotelbird showing promising progress.