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  • 06 Apr 22
Noratis - Termination of coverage

Edison Investment Research is terminating coverage on: • 2G Energy (2GB) • Apontis Pharma (APPH) • Artec technologies (A6T) • Beta Systems (BSSA) • Blue Cap (B7E) • Cyan (CYR) • Consus Real Estate (CC1) • Daldrup & Soehne (4DS) • DATAGROUP (D6H) • Datron (DAR) • Delignit (DLX) • Deutsche Börse (DB1) • Deutsche Grundstücksauktionen (DGR) • Deutsche Rohstoff (DR0) • DVS Technology (DIS) • Edel (EDL) • Ernst Russ (HXCK) • Exasol (EXL) • expert.ai (EXAI/EXSY) • Fashionette (FSNT) • Formycon (FYB)

Companies: Noratis AG

Edison
  • 13 Oct 21
Noratis - Resumed sales activity drives H121 results

Noratis’s earnings increased materially in H121 on resumed sales activity, with c €50m revenue from asset disposals in H121 versus c €6m in H120. The growth follows a weak FY20, affected by the decision to postpone major property sales beyond FY20 and focus on portfolio growth after Merz became its anchor shareholder in March 2020. Portfolio expansion continued in H121, reflected in visibly higher rental revenue versus H120. Noratis reaffirmed its FY21 guidance for sizeable year-on-year growth i

Companies: Noratis AG

Edison
  • 21 May 21
Noratis - New capital to fuel portfolio growth

After a year of limited asset disposals following the announcement of Noratis’s decision in March 2020 to focus on net portfolio expansion, management expects a significant rise in property sales in FY21 and guides to much higher EBIT and PBT compared to FY20. Meanwhile, the company plans to further grow its portfolio, which it will support with c €22m raised through equity issues in FY20, a €30m corporate bond placed in the period and long-term funding from its anchor shareholder, Merz, which i

Companies: Noratis AG

Edison
  • 08 Sep 20
Noratis - Portfolio expansion continues

The significant decline in the H120 results reflects Noratis’s decision, announced earlier this year, to postpone major asset sales beyond 2020. Its focus this year is instead on building up the portfolio, which it hopes will provide longer-term earnings sustainability. Portfolio expansion will be supported by €5m equity provided by the company’s new core shareholder Merz Real Estate in May 2020. Noratis plans to raise a further €16.9m for portfolio growth in a public capital increase, announced

Companies: Noratis AG

Edison
  • 12 May 20
Noratis - Exits likely to be postponed

Noratis continued expanding its portfolio in 2019 and plans further asset acquisitions in 2020. However, it also expects delays in project exits and has thus issued subdued full-year guidance. Over the longer term, Noratis stresses that asset sales will remain the main revenue and earnings driver while portfolio growth will be supported by equity funding from its new major shareholder. Noratis is committed to distributing 50% of its earnings to shareholders, but due to COVID-19 part of this year

Companies: Noratis AG

Edison
  • 10 Oct 19
Noratis - Long-term commitment, short-term focus

After significant portfolio expansion in H218 (which is now contributing to rental income), H119 saw several notable and profitable disposals. With EBIT at €8.8m and PBT at €6.9m in the period, Noratis is halfway through its FY19 targets (EBIT and PBT stable vs FY18 and FY17), which it reaffirmed recently. The company continued to expand its portfolio post period-end, which supports its long-term growth prospects based on a typical two-year lead time for asset value enhancement. The dividend rem

Companies: Noratis AG

Edison
  • 17 Sep 19
Noratis - Executive interview

<a href="https://www.edisongroup.com/edison-tv/executive-interview-noratis-3/"><strong>In this interview</strong></a>, André Speth (CFO) describes <strong><a href="https://www.edisongroup.com/company/noratis/">Noratis</a></strong> as a specialised asset developer, positioned between portfolio holder and property developer. He also discusses the growth potential for its target market (residential properties with optimisation potential in non-core German cities) and elaborates on its plans for fur

Companies: Noratis AG

Edison
  • 16 Sep 19
Executive interview - Noratis

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executive-interview-noratis-16-09-2019
  • 16 Aug 19
Noratis - Strong pipeline

Noratis remains firmly on a growth path. Accelerating development of its asset base (the stock book value was up by over half in H218 at €176m) was followed by news that fundraising options for further expansion are under review. Although this should underpin strong long-term prospects, a typical two-year lead time for asset value enhancement explains apparently measured guidance for 2019 (maintained EBIT on higher revenue). Timing was also a factor last year as H2 bias of high-margin asset sale

Companies: Noratis AG

Edison
  • 14 May 19
Noratis - Strong pipeline

Noratis remains firmly on a growth path. Accelerating development of its asset base (stock book value up by over half in H218 at €176m) has been followed by news that fundraising options for further expansion are under review. While this should underpin strong long-term prospects, a typical two-year lead time for asset value enhancement explains apparently measured guidance for 2019 (maintained EBIT on higher revenue). Timing was also a factor last year as H2 bias of high-margin asset sales drov

Companies: Noratis AG

Edison
  • 06 Dec 18
Executive Interview - Noratis

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executive-interview-noratis-06-12-2018
  • 11 Oct 18
Noratis - Building well

The shortfall in H1 results (revenue and adjusted EBIT down by a third) should not detract from Noratis’s ambition to benefit from favourable macro factors and clear opportunity in real estate with development potential in non-core German cities. The outturn was, as expected, a matter of timing (likely high-margin asset sales will be H2 oriented), so guidance of a rise in full-year profit is maintained, albeit on lower revenue. For the longer term, the asset base (stock book value up 15% in H1 a

Companies: Noratis AG

Edison
  • 04 Jul 18
Noratis - On a growth path

Recent significant fund-raising and portfolio expansion by Noratis confirm the company’s ambition to benefit from favourable macro factors and the clear opportunity to develop real estate in non-core German cities. This follows a “very successful” 2017, with sales up by over 50% and adjusted PBT more than doubled, driven by the disposals of newly-enhanced (optimised) property blocks. Reinvestment was no less effective; the continued ability to buy at attractive yields led to a 25% increase in th

Companies: Noratis AG

Edison
  • 30 Jun 17
The real estate optimisers

Noratis is a hybrid between a property company that owns residential assets and a residential asset developer. Noratis has been operating in Germany’s non-core cities since 2011, and exploits the opportunities in this market segment while mitigating typical developer’s risks through targeting a constant cash inflow from rental income. Noratis acquires existing residential blocks, aims to modernise them with minimal disruption to the rental income stream and, within 12 to 36 months, aims to sell

Companies: Noratis AG

Edison

Noratis AG

Company Profile

Research, Charts & Company Announcements

Research Tree provides access to ongoing research coverage, media content and regulatory news on Noratis AG. We currently have 12 research reports from 1 professional analysts.

Latest News/RNS

(more news)
Date Source Announcement
11Dec23 20:47 DGAP-AHD EQS-Adhoc: Noratis AG: Noratis AG beschließt bezugsrechtsfreie Barkapitalerhöhung mit einem Volumen von 451.467 neuen Aktien zu einem Platzierungspreis von EUR 4,43 je neuer Aktie
11Dec23 20:47 DGAP-AHD EQS-Adhoc: Noratis AG: Noratis AG decides on cash capital increase with exclusion of subscription rights with a volume of 451,467 new shares at a placement price of EUR 4.43 per new share
07Dec23 12:21 EQS-News EQS-News: Noratis AG schließt Kapitalerhöhung erfolgreich ab
07Dec23 12:21 EQS-News EQS-News: Noratis AG successfully completes capital increase
23Nov23 16:30 DGAP-AHD EQS-DD: Noratis AG: Igor Christian Bugarski, Sale of 191,110 shares (price based on valuation as at 31 December 2023) by exercising put options
23Nov23 16:30 DGAP-AHD EQS-DD: Noratis AG: Igor Christian Bugarski, Verkauf von 191.110 Aktien (Preis basierend auf Bewertung zum 31.12.2023) durch Ausübung von Verkaufsoptionen
17Nov23 16:15 DGAP-AHD EQS-DD: Noratis AG: Igor Christian Bugarski, Sale Price not determinable (based on valuation as at 31 December 2023) Volume: 191,110
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