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17. February 2020 | 11:15 CET

HELMA Eigenheimbau AG - the real estate pearl from Lower Saxony

  • Real Estate

HELMA Eigenheimbau AG is one of the leading German construction service providers with a full-service offer. The focus is on the development, planning, sale and construction management of individually planned single-family homes, which are built in traditional solid construction on the customer's land. Via the subsidiary HELMA Wohnungsbau GmbH, which acts as a broadly diversified project developer and property developer, there is also the possibility to acquire the individual dream house in various metropolitan regions of Germany, also together with a suitable plot of land, from one source.

time to read: 1 minutes by Mario Hose


Holiday properties on the North and Baltic Sea

The group also offers high-quality semi-detached houses, terraced houses and residential construction projects in selected locations. With the realisation of holiday homes and apartments in infrastructurally well developed locations, mainly on the North and Baltic Sea coast, the subsidiary HELMA Ferienimmobilien GmbH is also one of the leading companies in its market segment.

The offer is mainly directed at private customers for own use or as capital investment. The subsidiary Hausbau Finanz GmbH completes the HELMA Group's range of products and services as a financing and construction insurance broker.

Growth secured by acquisition

In an announcement dated February 5th, 2020, HELMA Eigenheimbau AG announced the securing of further holiday property projects. Via the subsidiary HELMA Ferienimmobilien GmbH, a 33,200 sqm property on the North Sea peninsula Butjadingen, a popular holiday region, was acquired. Within the scope of the new project 'NordseeResort Burhave' about 190 units are to be built.

In addition to this, the HELMA subsidiary has acquired another 233,500 sqm plot of land in the Sauerland-Rothaargebirge Nature Park at Lake Sorpe, an equally well-known tourism region. Around 350 holiday homes and apartments in the medium price segment are to be built here.

Building land is in demand

Secured properties are important for growth. Particularly in connection with high demand for residential real estate, especially in the conurbations, building land prices have risen sharply. As a result, the high level of land holdings can be considered very valuable, according to the experts at GBC Research.

Sales expectations underpinned

In their calculation for HELMA, the same applies as before, according to which in the property development sector alone, should the aforementioned sales potentials be exploited in the next five years, annual sales of around EUR 280 million can be easily achieved. This assumption is further supported by the recent land acquisitions.

In addition, the company plans to generate annual sales revenues of around EUR 100 million in the construction services segment, in which properties are built on the buyer's land. This makes the annual target revenue figure of around EUR 300 million very realistic.

GBC Research confirms assessment

The analysts of GBC stick to their sales and earnings estimates. On the basis of their DCF valuation model, which also remains unchanged, they confirm their price target of EUR 65.00 and continue to assign the BUY rating.

Conflict of interest & risk note

In accordance with §34b WpHG we would like to point out that Apaton Finance GmbH as well as partners, authors or employees of Apaton Finance GmbH may hold long or short positions in the aforementioned companies and that there may therefore be a conflict of interest. Apaton Finance GmbH may have a paid contractual relationship with the company, which is reported on in the context of the Apaton Finance GmbH Internet offer as well as in the social media, on partner sites or in e-mail messages. Further details can be found in our Conflict of Interest & Risk Disclosure.

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16. January 2020 | 09:31 CET

Buy Homes & Holiday: Analysts see significant upside potential

  • Real Estate

Homes & Holiday AG should significantly increase sales and earnings in the current year 2020. This is expected by the analysts of GBC Research in their current study. On the basis of the refocusing on the core business on the Balearic Islands, which began in 2019, GBC has valued the specialist for holiday properties using a DCF model and calculated a fair value of EUR 1.05 per share. Based on the current price level of around EUR 0.40 per share, the analysts see high potential and have given the share a Buy rating. The potential market potential is very high.


06. January 2020 | 05:50 CET

Rent cap keeps Vonovia & Co on its toes: MOREH offers 6% fixed interest rate with commercial property

  • Real Estate

The discussions surrounding a rent cap in Berlin and other cities have repeatedly caused uncertainty among shareholders of real estate companies such as Vonovia in 2019. No improvement is in sight for 2020. Anyone who focuses on commercial real estate is not affected by this. For example, the real estate portfolio owner M Objekt Real Estate Holding GmbH & Co. KG, MOREH for short. In the summer of 2019, the company issued a corporate bond with a fixed interest rate of 6.00 percent with a semi-annual payment and extensive collateral. The security with a term of five years can be traded on numerous German stock exchanges. MOREH is a classic real estate portfolio holder with a focus on commercial real estate in Western Germany. Experts consider the MOREH bond to be attractive and have invested.


05. December 2019 | 13:57 CET

Alternative to Vonovia & Co? 6% MOREH bond with positive news

  • Real Estate

The real estate portfolio holder M Objekt Real Estate Holding GmbH & Co. KG, MOREH for short, issued a corporate bond in the summer of 2019 with a fixed interest rate of 6.00% on a semi-annual payment and extensive collateral. The security has a term of five years and is listed on the Munich Stock Exchange and all other German stock exchanges. MOREH is a classic real estate portfolio holder focusing on commercial real estate in western Germany. This means that the company is not affected by the current discussion about rent breaks or rent caps. Instead, MOREH reports rental success and convinces experts.