S IMMO AG (WBO:SPI)
€ 22.2 -0.1 (-0.45%) Market Cap: 1.56 Bil Enterprise Value: 1.73 Bil PE Ratio: 185.00 PB Ratio: 0.95 GF Score: 82/100
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Q2 2021 S Immo AG Earnings Call Transcript

Aug 27, 2021 / 01:00PM GMT
Release Date Price: €20.35 (+3.30%)
Operator

Good afternoon, ladies and gentlemen, and welcome to the S IMMO AG conference call regarding half year's results 2021. (Operator Instructions)

Let me now turn the floor over to your host, Mr. Ettenauer.

Bruno Ettenauer
S IMMO AG - CEO

Thank you. Good afternoon, everybody, and welcome to S IMMO half year's earning call. As you probably know, we have been the target of a takeover bid by IMMOFINANZ and had an extraordinary AGM in the meantime. Without further elaborating on the specifics, I'd just like to recap that we deemed the offer price to be too low and that the bid was withdrawn in the end.

Early in Q2, we communicated to the market that we see a rebound in Germany, that we expect significant positive property valuations. As you will see, those valuations, based on external appraisals, have materialized in our Q2 results and (inaudible) has also delivered on one other thing that we announced, namely that we've sold our stake in CA IMMO in July and are now ready to broaden our income-generating portfolio.

Having said that, let's

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