on WARIMPEX (isin : AT0000827209)
Warimpex Prepares for Transition Year Amid Real Estate Plans
East Value Research GmbH has issued a "BUY" recommendation for Warimpex Finanz- und Beteiligungs AG, suggesting a target price of EUR 1.14 over the next 12 months. Despite divesting its Russian assets, Warimpex's 2024 performance is expected to be weaker than anticipated. The company regards 2025 as a transitional year, focusing on boosting occupancy rates and repaying debt.
Warimpex plans to construct apartments on its Krakow property, Mogilska IV, leveraging the city's booming real estate market. Additionally, future office projects in Krakow and Darmstadt are poised for initiation once market conditions stabilize. However, net gearing remains a concern.
The company projects a 10.2%-34.2% reduction in its 2024 revenue and EBITDA forecasts due to past asset sales, with net income anticipated at EUR -82m. Warimpex rents spaces in Cracow, Lodz, and Budapest, operating a hotel in Darmstadt.
R. P.
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