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MarketScreener Homepage  >  Equities  >  WIENER BOERSE AG  >  CA Immobilien Anlagen AG    CAIV   AT0000641352

CA IMMOBILIEN ANLAGEN AG

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Austrian property groups Immofinanz and S Immo abandon merger plan

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11/26/2019 | 09:29am EST
The logo of Austrian real estate group Immofinanz is pictured on top of the company's headquarters building in Vienna

Austrian property groups Immofinanz and its smaller rival S Immo have abandoned their plan to merge, they said on Tuesday, leaving their crowded market's future uncertain after another planned merger by Immofinanz fell through.

Austria has three listed property companies: Immofinanz, S Immo and CA Immo. Last year Immofinanz's planned merger with CA Immo fell through https://www.reuters.com/article/us-ca-immo-m-a-immofinanz/austrias-immofinanz-ditches-planned-merger-with-rival-ca-immo-idUSKCN1GC2BC, after which it turned its focus to S Immo, of which it now owns 29%. But its plans appear to have changed again.

"The executive boards of S Immo and Immofinanz today decided to end their discussions over the possible combination of the two companies," Immofinanz said in a statement.

"This decision was based, in particular, on the inability to reach an agreement over a possible (share) exchange ratio."

The Austrian real estate industry has been long been seen as ripe for consolidation. Residential property firms Conwert and Buwog were taken over by German market leader Vonovia last year.

(Reporting by Francois Murphy; editing by Jonathan Oatis)

Stocks mentioned in the article
ChangeLast1st jan.
CA IMMOBILIEN ANLAGEN AG -0.51% 38.75 End-of-day quote.4.31%
IMMOFINANZ AG 0.20% 24.85 End-of-day quote.3.33%
S IMMO AG 1.13% 22.35 End-of-day quote.-1.32%
VONOVIA SE 0.60% 50.62 Delayed Quote.4.83%
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Financials (EUR)
Sales 2019 229 M
EBIT 2019 374 M
Net income 2019 254 M
Debt 2019 1 651 M
Yield 2019 2,47%
P/E ratio 2019 14,0x
P/E ratio 2020 15,8x
EV / Sales2019 23,0x
EV / Sales2020 22,6x
Capitalization 3 605 M
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Mean consensus OUTPERFORM
Number of Analysts 6
Average target price 37,04  €
Last Close Price 38,75  €
Spread / Highest target 8,39%
Spread / Average Target -4,41%
Spread / Lowest Target -16,1%
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Managers
NameTitle
Andreas Quint Chief Executive Officer
Torsten Hollstein Chairman-Supervisory Board
Andreas Schillhofer Chief Financial Officer, Head-Accounting & Taxes
Michael Stanton Member-Supervisory Board
Florian Koschat Deputy Chairman-Supervisory Board
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