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.
Deutsche Konsum Real Estate AG is a real estate investment trust (REIT) specializing in the acquisition, leasing, management, and sale of retail properties throughout Germany. Its primary focus lies on established micro-locations in regional areas and medium-sized cities, away from major metropolitan centers, targeting tenants that serve daily consumer needs such as supermarkets and essential retailers. This strategy enables the generation of stable rental income while benefiting from REIT status, which exempts it from corporate income tax in Germany, allowing for efficient dividend distributions. As of late September 2024, the company manages a substantial portfolio of 167 retail properties spanning nearly 1 million square meters with a market value approaching 989 million euros, supporting local socio-economic infrastructure in these communities. Founded in 2008 as Stafford Grundbesitz GmbH and transformed into a public limited company in 2014, Deutsche Konsum Real Estate AG is headquartered in Potsdam and employs around 20-25 staff. Listed in the Prime Standard segment of the German stock exchange and included in indices like MSCI Germany and CDAX, it holds a prominent position in the retail REIT sector, emphasizing sustainable ownership and long-term value in Germany's regional retail real estate market.
The business is unprofitable at the operating level (-25.97% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue declined 9.7% YoY. The question is whether this is cyclical or a structural shift.
Free cash flow declined 32% versus the prior year, cash generation momentum has weakened. Net debt of €466M represents 30.0x FCF, leverage limits flexibility.
Profitability & Returns
Revenue (FY)
€70M
▼ -9.7% YoY
Net Income (FY)
-€55M
▼ -2894.4% YoY
Op. Margin
-25.97%
▼ -1.9pp YoY
ROIC
-1.74%
▼ -0.7pp YoY
Cash Flow & Balance Sheet
FCF (FY)
€16M
▼ -32.4% YoY
Op. Cash Flow (FY)
€16M
▼ -32.2% YoY
Net Debt
€466M
Cash & Equiv.
€9M
3Y CAGR: -2.0%
3Y CAGR: -32.0%
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