Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
The Grounds Real Estate Development AG is a Germany-based real estate company specializing in residential property projects primarily within metropolitan regions. Established in 2007, the company focuses on the development of residential buildings ranging from individual houses to full inner-city residential quarters. Its business model comprises three main segments: project development aimed at institutional and capital investors, portfolio management through holding residential properties as fixed assets for rental income, and residential privatization involving the development and sale of partially owned properties. The Grounds operates as a management holding entity, overseeing legal, financial, and operational aspects alongside asset management. With headquarters in Berlin and additional presence in Stuttgart, it serves the dynamic German residential market and is recognized for sustainable property development and portfolio growth. Major shareholders include private equity firm H.I.G. Capital, holding a significant stake. The company is listed on German stock exchanges under the symbol AMM.
The business is unprofitable at the operating level (-96.62% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue declined 49.2% YoY. Margins deteriorated 72.2pp alongside, both lines moving the wrong way.
ROIC dropped from -3.60% to -6.21%, capital efficiency is deteriorating. Negative free cash flow of -€10M. The business is consuming cash, not generating it.
Profitability & Returns
Revenue (TTM)
€11M
▼ -49.2% YoY
Net Income (TTM)
-€14M
▼ -85.8% YoY
Op. Margin
-96.62%
▼ -72.2pp YoY
ROIC
-6.21%
▼ -2.6pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-€10M
▲ +32.4% YoY
Op. Cash Flow (TTM)
-€10M
▲ +17.1% YoY
Net Debt
€73M
Cash & Equiv.
€28M
3Y CAGR: -28.1%
Continue Research