Helma Eigenheimbau (H5E)

Business description

Helma Eigenheimbau provides development, planning, sales, finance advisory and construction services for turnkey, low rise, domestic properties. It uses solid construction techniques, usually block and render. It operates mainly in cities in middle and north Germany and in Munich.

Latest research

AKTUELLE VERÖFFENTLICHUNGEN

Helma Eigenheimbau

Bereit für Wertsteigerung

12/05/2017

Investment summary

Helma Eigenheimbau provides an opportunity to gain entry into a growth company in a positive phase for the sector, at a time when home ownership is getting government encouragement. Federal government is responding to a recent decline in home ownership to 51.9%, versus 53.4% five years ago, by providing incentives, which along with low interest rates and population growth provides a favourable backdrop. The shares declined a little further after the results for 2016 were released in early March and have fluctuated between €38 and €40 since then. They are still below the 12-month peak levels but up 4x from the 2012 low point. The company issued guidance recently (23 February 2017) that lowered the expected rate of growth in 2017-18 to around 10% pa for revenue and earnings; the share price reaction was overly harsh, in our view.

Last updated on 12/05/2017

Key management

Gerrit Janssen, CFO
Elaine Hirsch, CFO Assistant

Company address

Zum Meersefeld 4
Lehrte
31275
Germany
+49-5132-88500
View website