Warimpex Faces Strategic Shift Amid Asset Sales

East Value Research GmbH has issued a "BUY" recommendation for Warimpex Finanz- und Beteiligungs-AG, following significant changes in the company's asset portfolio. This comes after Warimpex announced the sale of its Russian assets, leading to a one-time loss of EUR 30.3 million. This transaction is seen as beneficial for shareholders, reducing risks related to Warimpex's investment profile.

The firm is now focusing on office developments in Poland and Germany. Despite high net gearing, Warimpex’s predictable cash flows from hotels and offices are noteworthy. With the updated report excluding Russian figures, Warimpex reported EUR 88 million in revenues and EUR 63.6 million in profits. However, EBIT and net income witnessed a decline due to remeasurement losses and discontinued operations.

Warimpex continues to develop office projects in Cracow and Darmstadt, with building permits secured for some but others still awaiting market-dependent construction starts.