Stock data
| Market cap. | £34.2m |
| Last close | 25.00p |
| High / Low (52 weeks) | 58.5p / 21.0p |
| Stock market listing | FULL |
| Forecast net debt (€m) | 219 |
| Forecast gearing ratio (%) | 88 |
| Team | Property |
| Sector | Property |
Price performance
| % | 1m | 3m | 12m |
|---|---|---|---|
| Actual | (26.47) | (32.43) | (48.33) |
| Relative * | (29.96) | (36.92) | (46.67) |
* % Relative to local index
Other companies covered in sector
| Y/E Dec | Revenue (€m) | EBITDA (€m) | PBT (€m) | EPS (c) | P/E (x) | P/CF (x) |
|---|---|---|---|---|---|---|
| 2009A | 25.3 | 12.1 | (2.1) | 2.5 | 11.7 | N/A |
| 2010A | 30.7 | 11.1 | (1.9) | 7.7 | 3.8 | 3.5 |
| 2011E | 29.0 | 13.8 | 3.8 | 2.7 | 10.8 | 4.1 |
| 2012E | N/A | N/A | N/A | N/A | N/A | N/A |
Last updated on 05/12/2011
Latest research
Making headway
Update | Property | 18/11/2011
Debt & portfolio progress
Review | Property | 02/09/2011
Move to LSE & newsflow
Flash note | Property | 08/07/2011
Getting a grip on finances
Outlook | Property | 20/05/2011
Stable in difficult markets
Update | Property | 21/09/2010
Focus remains on cash
Update | Property | 22/03/2010
Hungarian challenges
Outlook | Property | 18/12/2009
Investment summary
Although the group's key property markets remain tough, the IMS for 1 July to 17 November confirmed stable operational activity. Annual gross rents and overall portfolio occupancy were maintained, the latter helped by the opening of a c 7,000sqm retail store within the group’s Buy-Way Dunakeszi shopping centre in Budapest, recently let to Möbelix. Footfall for the centre overall was reported to be well ahead. There was also a better financial performance by the Marriott Hotel. In July, Ablon began constructing the Karolkowa Business Park in Warsaw, with completion scheduled for mid-2013.
Last updated on 09/12/2011
Industry outlook
Ablon has 15 income-generating investment properties plus 24 other projects and a landbank in Budapest, Prague, Bucharest, Warsaw and Gdansk. Occupational and investment demand in Budapest, the group's key market, appears to be picking up on the back of a gradual economic recovery and the group's new grade A office development in Warsaw targets occupiers in one of Europe's most robust economies.
Last updated on 09/12/2011
Key management
| Alex Borrelli, Chairman |
| Kristóf Skwarek, CFO |
Company address
| Frances House Sir William Place St Peter Port Guernsey GY1 4HQ United Kingdom View website |
