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NAVSTONE SE: Update and Guidance 2022
Waalre (pta033/20.01.2022/13:37 UTC+1)
NAVSTONE SE, quoted in the m;access segment of the Munich stock exchange (ISIN NL0009538008 / WKN A1CUJD) reports about current developments in Q4, 2021 and provides guidance for the fiscal year 2022. .
NAVSTONE is aiming to build up a real estate portfolio of approximately EUR 30mn and to achieve an attractive return for shareholders based on a buy-o-let strategy with stable cash flows and attractive dividends subsequently resulting in increased net asset value of the business.
The total value of the real estate portfolio at year end 2021 was approximately EUR 6.5 million and was fully rented. In addition to the existing portfolio, reservations for four additional properties with a total value of EUR 5.85 million were made in the fourth quarter of 2021. The completion of the acquisition of these properties is expected in the coming months after successful due diligence. In total, this would increase the portfolio to over EUR 12 million.
For 2021, management expects earnings to be at the upper end of the guidance of € 1.6 to € 2.0 million.
The Company's strategic realignment towards real estate is expected to be completed in 2022. For the financial year 2022, the management expects earnings of more than € 0.5 million. The dividend of € 0.10 per share for 2022 will therefore be fully covered by earnings from operations.
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