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    HUSCO   DK0061412855

HUSCOMPAGNIET A/S

(HUSCO)
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HusCompagniet A/S : signs B2B agreement to deliver 63 semi-detached houses in Str°by Egede

12/21/2020 | 04:01am EST

Company announcement 21/2020

With reference to the offering circular as published by HusCompagniet A/S, CVR no. 36972963, ("HusCompagniet" or the "Company"), on 6 November 2020 (the “Offering Circular”), HusCompagniet has today signed agreement and will enter into cooperation with a professional investor to deliver 63 semi-detached houses in Strøby Egede, Denmark with delivery from November 2021 and completion in the first half of 2022. Closing is expected in mid-January 2021.

 

Group CEO, Martin Ravn-Nielsen, says: “I’m very pleased that we are executing on our B2B strategy for semi-detached housing and we are looking forward to the cooperation in Strøby Egede for the years to come. The semi-detached housing market remains fragmented, and HusCompagniet will continue to pursue market share gain in this segment, as we have for the detached housing market segment.”

 

 

 

Highlights of the agreement

 

  • Total of 63 semi-detached houses with payment on delivery structure and planned delivery of 28 in 2021 and 35 in 2022.

 

  • The land is located in Strøby Egede in the southern part of Sealand near the city of Køge and constitutes approximately 79,000 m2, comprising both the semi-detached building plots and 32 detached building plots, of which 11 are currently for sale.

 

  • The owned land has been fully matured by HusCompagniet and sold in connection with the agreement.

 

  • Expected total revenue amounts to approximately DKK 130 million, with a revenue share from delivery and work-in-progress totalling DKK 85-95 million in 2021 and DKK 35-45 million in 2022. The expected revenue is included in the Group’s announced financial guidance.

 

 

 

For additional information, please contact:

 

HusCompagniet                                                             

Cristina Rønde Hefting, Head of IR & Press                                                                    +45 88 62 21 05

 

Information on HusCompagniet

 

HusCompagniet is a leading provider of single-family detached houses in Denmark. It also provides semi-detached houses to both private consumers and professional investors. HusCompagniet is also present in Sweden where it produces prefabricated wood-framed detached houses through its VårgårdaHus brand.

 

The Group operates an asset-light and flexible delivery model with on-site building, primarily on customer-owned land. The majority of construction is outsourced to sub-contractors allowing for a flexible cost base. In 2019, HusCompagniet’s revenue amounted to approximately DKK 3.5 billion (adjusted).

 

HusCompagniet delivered approximately 1,600 houses in 2019, of which 1,325 were detached houses in Denmark, corresponding to a market share of approximately 24% of the Danish detached-house new build market segment. HusCompagniet has 16 offices with showrooms and more than 60 show houses throughout Denmark, and also offers digital sale through the online platform “HusOnline”. HusCompagniet currently has more than 400 employees.

Attachments

  • 21 Agreeement Strøby Egede.pdf

© Ritzau Denmark, source Ritzau English Regulatory Releases

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Financials
Sales 2021 4 241 M 647 M 647 M
Net income 2021 248 M 37,8 M 37,8 M
Net Debt 2021 877 M 134 M 134 M
P/E ratio 2021 9,15x
Yield 2021 5,47%
Capitalization 2 249 M 343 M 343 M
EV / Sales 2021 0,74x
EV / Sales 2022 0,67x
Nbr of Employees 400
Free-Float 97,2%
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Number of Analysts 2
Last Close Price 122,80 DKK
Average target price 200,00 DKK
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Managers and Directors
Martin Ravn-Nielsen Chief Executive Officer
Mads Dehlsen Winther Group Chief Financial Officer
Claus Michael Hemmingsen Chairman
Nicholas Hansen Head-Information Technology
Soren Haugaard Chief Operating Officer
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