Deutsche Grundstuecksauktionen AG

DGR

Equity

ISIN DE0005533400 / Valor 625575

Xetra (2026-09-08)

EUR 4.68-1.68%

Deutsche Grundstuecksauktionen AG
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About company

Deutsche Grundstücksauktionen AG is a German company that organizes and facilitates real estate auctions and related transactional services, bringing properties — residential, commercial and land — to market through public bidding processes and auction platforms. Acting as an intermediary for sellers such as banks, insolvency administrators, municipalities and private owners, the firm provides auction management, property marketing, basic valuations and bidder administration, and handles the legal and contractual steps needed to conclude sales; its revenue model is primarily commission- and fee-based. The business appeals to investors and buyers seeking portfolio opportunities or distressed and off‑market assets, while also offering sellers a structured, time‑bound sales route to realize property disposals.

Summarized from source with an LLMView SourceSector: Finance

Object sales (Objektumsatz)

Objektumsatz increased 23.0% to €90.88m (2024: €73.87m), well above the company target of €80m. Number of sold properties fell to 1,209 (2024: 1,456), indicating a higher‑value sales mix.

Revenues and operating income

Bereinigte Netto‑Einnahmen (adjusted net revenues) rose 8.3% to €8.05m (2024: €7.43m). EBITDA improved to −€0.28m (2024: −€0.36m) and EBIT to −€0.33m (2024: −€0.43m) — clear progress but still negative.

Net result and EPS

Group net loss narrowed to −€0.29m (2024: −€0.42m). EPS improved to −€0.18 (2024: −€0.26).

One‑offs and impairments

Higher write‑offs and value adjustments on receivables of ~€0.67m (2024: €0.24m) were the main drag on profitability, linked to after‑effects of the 2023–2024 market stress.

Segment and subsidiary performance

Parent company Objektumsatz: €27.56m. Sächsische Grundstücksauktionen AG grew to €24.48m and delivered the largest positive earnings contribution (~€0.72m). Plettner & Brecht rose strongly to €19.86m (driven by brokerage). Norddeutsche and Westdeutsche remained loss‑making.

Balance sheet and liquidity

Equity at €5.21m (31.12.2025), equity ratio ~86.0% (still high). Net cash decreased to €1.23m (31.12.2025; 2024: €1.75m). No interest‑bearing debt on the balance sheet. Bilanzverlust (accumulated loss) increased to €2.24m, limiting near‑term dividend capacity.

Outlook and guidance

GBC (using company data) expects continued recovery: modelled Objektumsatz ~€87.0m for 2026 (company target €85m), adjusted net revenues €9.30m, EBITDA €0.82m and net profit €0.54m (return to profit expected in 2026). Further improvement is projected for 2027–2028.

Valuation and recommendation

GBC’s DCF valuation yields a fair value / price target of €12.85 per share and a "KAUFEN" (Buy) rating based on the recovery scenario and low balance‑sheet leverage.

Main risks

Key downside risks remain: tight buyer financing conditions, higher interest rates, further receivable impairments, and selective market demand — any of which could delay or weaken the return to sustained profitability.

Summarized from source with an LLMView Source

Key figures

-36.8%1Y

-62.0%3Y

-79.7%5Y

Performance

40.5%1Y

39.3%3Y

39.4%5Y

Volatility