SDAX | Coastal capital: unexpected strike

The communication of the CORESTATE Capital Holding S.A. (ISIN: LU1296758029) This contributes to the fact that participation today is less than 26.31% (10:23 a.m.), which on March 24, 2020 still says “all good”

And the “2020 forecast is still possible”, which then, just one month later, goes back and says “There are no dividends” and the forecast cannot be fulfilled, and in the future “we have to reduce the debt so that the relationship is more safe, therefore also change the dividend policy “There is no need to complain about a drop in prices. Too bad The company was able to achieve its forecast last year in a successful recovery, contrary to the expectations of some market participants. The communication was clear and credible. And now? On March 24, some things must have been predictable: couldn’t one have been or not been more careful? According to Corona, the company will successfully re-implement its business concept, but confidence in the capital market is a valuable asset. In any case, for last night’s message:

Lars Schnidrig, CEO Corestate: “The high dynamic of the crown pandemic forces us to rethink growth-oriented planning for 2020 and to position ourselves crisis-proof at all levels. We have already identified numerous countermeasures with concrete savings potential and are strongly focused on expanding our liquidity base. The single dividend exemption is a business imperative. This allows us to continue acting from a position of strength.“

On March 24, 2020, Lars Schnidrig, CEO CORESTATE Capital Group, said: “Our trade numbers and record result in 2019 underscore our strong position in a growing market. We are weather resistant with our long-term financial instruments with terms at least until the end of 2022, our healthy balance sheet structure and efficient processes and IT-based. I am particularly pleased that we have been developing the company in a structurally significant way in the past few quarters while at the same time achieving or exceeding our ambitious growth goals on the client and profit side. “AND “Our attractive range of products with a focus on urban life and life strikes the nerve of the time and the great interest of investors in Europe and beyond. This, in relation to the uninterrupted need for investment in the real estate sector despite the special situation we are in today, it gives us tailwind for the current year “.

Wirecard: pending the report, Singapore is by no means a licensing issue for Wirecard

ProSieben pays dividends and does not dare to make a forecast

Software AG offers solid Q1, but forecast further reduces a “safe bank” in crown times

Well positioned ADVA: does the cloud always work?

Wirecard has to postpone KPMG’s report until April 27, 2020 – So far there are no findings confirming FT’s allegations – starting at 9:03 p.m.

GOLD, GOLD: the OZ GOLD REPORT is priced at EUR 5,000.00 – FREE

A SHARE BETTER THAN WIRECARD – HERE

ENTIRE ROW OF Shares in Crash Times – First Intermediate Status April 16/17, 2020:

Part 1: MuM, DataGroup and MBB – Lukas Spang has so far been correct with his recommendations

Part 2: Wirecard, Encavis and Evotec – nwm wasn’t too bad either

Part 3: PNE, SBF and Dic Asset – Michael C. Kissig entered a week later, also better than the indices

In terms of content, everything is really understandable.

As soon as the effects of the Covid-19 pandemic can be reliably assessed and reliable planning is possible, Corestate will publish a new financial perspective for the financial year 2020. The company believes that all the key drivers of the business model market They are intact in the medium term, so if the investment market normalizes after 2021, Corestate can once again reach the earnings and profitability indices as it did before the crisis.

Nils Hübener, CIO Corestate adds: “Currently, our clients are reluctant to make new commitments, but are looking for almost all of the profitable and sustainable real estate investments we offer tailored. Especially when it comes to our core megatrends-based products, which focus on the theme of life, we expect a rapid recovery after overcoming the crisis, from which we will benefit disproportionately due to our leading position in the market. In addition, attractive investment opportunities will open in the coming quarters, which we want to take advantage of opportunistically.”

Lars Schnidrig in conclusion: “We are in an excellent strategic position, which is why I am firmly convinced that Corestate will return to its usual strength after the crisis in 2021 in terms of operations and earnings. Furthermore, with a more conservative but still very attractive distribution policy, we will once again position ourselves as a high-growth dividend in the coming year.“

NIX forecast, NIX dividend

“Given a significant shift in investment decisions, transactions, and valuation approaches across major markets and products, the company no longer believes it is likely to achieve the financial goals originally planned and published this fiscal year. Earnings will primarily be in the areas of procurement and performance Fees, warehousing and alignment capital do not meet expectations.

Due to the uncertainty surrounding the course of the Covid 19 pandemic, strengthening the liquidity position is currently a priority. Therefore, the company will propose to the Annual General Meeting not to pay a single dividend for fiscal year 2019. The future payment rate will also be adjusted; It is expected to account for at least 30 percent of earnings per share (EpS) as of 2021, the first time for financial year 2020. The objective is to reduce net financial debt in the medium term and limit any cyclical or other external risk to the business model.“

This points to fundamental problems in the leveraged business model and a possibly permanent, not just temporary, change in profit structures and sales relationships.

The company still achieved record sales in 2019

A high profit was achieved in 2019, which was however less than in 2018, but this was due to special factors in 2018, i.e. a rock solid value operating in an industry that should currently be a relatively safe bank in the stock market. Revenue increased to a record level of around € 303 million (previous year: € 292 million), EBITDA was around € 175 million (previous year: € 184 million) and the group’s adjusted result was of around 131 million euros (previous year: 135 million euros).

EXCLUSIVE – CEO W. Berger of B + S Banksysteme AG on Corona’s effects on his business

The assets of the managed fund (AuM), including the acquisition of STAM Europe, amount to around 28 billion euros, the real estate AuM increased organically by approximately 10% in 2019. During this time, the company had sales of EUR 303.4 million (previous year: EUR 292.2 million), EBITDA of EUR 175.0 million (previous year: EUR 174.1 million) and an adjusted group result of EUR 130 .3 million (previous year 135.3 million euros). In view of several unique positive effects, the 2018 values ​​can only be compared to a limited extent with the 2019 numbers.