Business description

DEMIRE Deutsche Mittelstand Real Estate is an investor in German commercial real estate with a focus on properties in secondary locations, attractive to medium-sized companies. The portfolio is well diversified geographically and by tenant and is spread across office, retail and logistics assets.

Y/E Dec Revenue (€m) EBITDA (€m) PBT (€m) EPS (c) P/E (x) P/CF (x)
2015A 43.3 12.3 33.0 71.38 5.1 N/A
2016A 92.1 44.1 40.0 39.27 9.4 N/A
2017E 95.5 44.3 17.5 15.00 24.5 N/A
2018E 95.0 45.8 22.0 24.00 15.3 N/A

Last updated on 24/07/2017

Latest research

Investment summary

DEMIRE Deutsche Mittelstand Real Estate is an investor in German commercial property focused on secondary locations. It has grown significantly over the last two years and has a portfolio valued at €984m with annual contracted rental income of €71.7m (31 March 2017). Further efficiency gains as acquisitions are integrated are likely to increase profitability and provide a stable platform for further growth. A diverse portfolio of income streams and potential for capital growth may make this an attractive way to access the German property market at a discount.

Last updated on 03/08/2017

Industry outlook

The geographical diversity and strength of the German economy make for dynamic property markets outside the seven biggest cities. Secondary cities are characterised by low vacancy, low rent volatility and have attracted less investment in new stock in recent years, providing support for rents and opportunities for investors.

Last updated on 03/08/2017

Key management

Markus Drews, Member of the Board - CEO
Ralf Kind, Member of the Board - CFO
Peer Schlinkmann, Head of Investor Relations & Communications

Company address

the eleven / Robert-Bosch-Str. 11
+49 (0) 6103 372 49 0
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