Noratis AG
NUVA
ISIN DE000A2E4MK4 / Valor 37098088
Noratis AG
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About company
Noratis AG is a leading portfolio developer of residential properties in Germany, specializing in upgrading ageing residential portfolios in cities with more than 10,000 inhabitants and in peripheral areas of conurbations. The company's core tasks include acquisition, development, asset management, and sales, with property management being assumed by external service providers. Noratis AG creates sustainable added value for stakeholders such as investors, employees, financing partners, and tenants by tapping into technical and commercial development potentials through extensive asset management. With around 50 employees, Noratis AG is listed on the Frankfurt Stock Exchange and focuses on creating and preserving attractive and affordable living spaces for tenants, owner-occupiers, and investors throughout Germany.
Summarized from source with an LLMView SourceSector: FinanceLatest Results (05.02.2026):
Noratis AG — Q4 2022 / full-year 2022: The company confirmed audited IFRS results for 2022 showing lower operating earnings versus 2021 but positive net income. Reported EBIT was EUR 12.5m (2021: EUR 19.4m), EBT EUR 12.0m (2021: EUR 13.4m) and net profit EUR 8.3m (2021: EUR 9.5m). NAV per share fell to EUR 28.79 (2021: EUR 30.16). Noratis cites the market environment and accounting treatment (no transfers from current to non-current assets) as drivers of the year-on-year earnings change, while interest-rate hedge revaluations supported 2022 results.
Key financials
EBIT: EUR 12.5m (down from EUR 19.4m); EBT: EUR 12.0m (down from EUR 13.4m); Net profit: EUR 8.3m (down from EUR 9.5m).
Portfolio valuation & NAV
External appraisals valued the real estate portfolio at ~EUR 525m at year-end 2022, implying hidden reserves of ~EUR 71m versus carrying amounts. NAV per share declined to EUR 28.79 from EUR 30.16 a year earlier.
Inventory / asset transfers
No properties were transferred from current to non-current assets in 2022 (contrary to original plans), so no positive earnings effects from such transfers were recognized; the company plans no transfers in 2023 either.
Hedge impact
Positive mark-to-market valuation of interest-rate hedges at year-end 2022 made a significant positive contribution to 2022 earnings; Noratis expects non-cash hedge valuation effects to weigh on 2023 earnings.
Operational volume
Total portfolio size increased to 4,548 residential units at end-2022 (end-2021: 4,212 units), reflecting continued acquisition/development activity.
2023 outlook & capital policy
Noratis expects negative EBT in 2023 due to higher interest expenses and anticipated adverse non-cash hedge revaluations. Management proposes to forgo a dividend at the upcoming AGM to preserve financial flexibility for market opportunities.
Investor information
The company held a webcast/teleconference on 31 May 2023 (presentation in German); the Annual Report 2022 and a recording are available on Noratis AG's website. Summarized from source with an LLMView Source
Key figures
Performance
Volatility
4 M
Market cap (USD)
4,052
Daily traded volume (Shares)
1.57 / 1.54
1 day high/low (USD)
52 weeks high/low (USD)
Dividend ex-date
Dividend (USD)
Dividend yield (p.a.)
Est dividend (USD)
Est dividend yield
P/E ratio
Est P/E ratio
EPS (USD)
Est EPS (USD)
Ratings & reviews
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