Warimpex Financial Report and New Target Price by East Value Research

East Value Research GmbH recently updated their analysis on Warimpex Finanz- und Beteiligungs AG, setting a new target price of EUR 2.23. This adjusted target reflects a downgrade from the previous EUR 2.69, primarily due to challenging market conditions and significant exposure to the Russian market. Warimpex's fiscal year 2023 showcased mixed results, with total turnover increasing by 10.1% year-over-year to EUR 49.7 million, slightly above the estimated EUR 48.5 million. However, both EBIT and net income fell sharply due to a high remeasurement loss attributed to elevated interest rates and lower anticipated rental income.

The report highlighted positive developments such as a significant boost in operating cash flow, which more than doubled to EUR 24.8 million, and a continued reduction in net debt to EUR 212.6 million. Despite these gains, the financial outlook is cautious, further impacted by a weaker rouble and substantial revenue dependence on the Russian market, accounting for 62.1% of total turnover.