Noratis AG

NUVA

Equity

ISIN DE000A2E4MK4 / Valor 37098088

Xetra (2024-12-23)

EUR 1.60+3.90%

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: Finance

EBIT Performance

Noratis AG reported an EBIT (Earnings Before Interest and Taxes) of 3.5 million euros for the fiscal year 2023. This is a significant decrease compared to the previous year's EBIT of 12.5 million euros, reflecting the challenging market conditions.

Increased Rental Income

Rental income for Noratis AG in 2023 increased by approximately 10.7%, reaching 32.9 million euros, up from 29.7 million euros in the previous year. This growth occurred despite a reduction in the total number of real estate units held by the company.

Net Loss

Noratis AG reported a consolidated net loss of 11.0 million euros for 2023. This contrasts sharply with the net profit of 8.3 million euros recorded in 2022, primarily due to increased interest rates and non-cash depreciation on inventory properties.

Property Transactions

During the reporting period, Noratis AG acquired 18 residential units and sold a total of 301 units, with most sales occurring in the first half of the year. This is a change from the previous year, where 615 units were purchased and 279 units were sold.

2024 Outlook

Noratis AG anticipates a slightly positive but lower EBIT for 2024, with a significantly negative pre-tax result. The company has implemented a cost reduction program to adapt to the challenging market environment and aims to benefit from the high demand for affordable housing in the future.

Summarized from source with an LLMView Source

Key figures

-79.5%1Y

-91.0%3Y

-91.8%5Y

Performance

88.4%1Y

60.8%3Y

51.4%5Y

Volatility