SBS is set to report its Q1/24 figures on May 8. We expect revenue growth of +25.6% y-o-y and 11.9% q-o-q, mainly driven by a larger portfolio and indexation. In the annual report released on April 12, the company stated that the majority of negative revaluations are now behind us, but also noted that no new projects are expected to start in the near future. In our March 2024 estimates, we anticipated no new project starts and expected a -1.4% change in property revaluations for 2024e; therefore ....
