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LEG Immobilien Full Year 2023 Earnings: EPS Beats Expectations

LEG Immobilien (ETR:LEG) Full Year 2023 Results

Key Financial Results

  • Revenue: €1.37b (up 11% from FY 2022).

  • Net loss: €1.57b (down from €234.0m profit in FY 2022).

  • €21.17 loss per share (down from €3.18 profit in FY 2022).

revenue-and-expenses-breakdown
XTRA:LEG Revenue and Expenses Breakdown March 16th 2024

All figures shown in the chart above are for the trailing 12 month (TTM) period

LEG Immobilien EPS Beats Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 6.9%.

In the last 12 months, the only revenue segment was Real Estate - Rental contributing €1.37b. Notably, cost of sales worth €746.5m amounted to 55% of total revenue thereby underscoring the impact on earnings. The most substantial expense, totaling €2.14b were related to Non-Operating costs. This indicates that a significant portion of the company's costs is related to non-core activities. Explore how LEG's revenue and expenses shape its earnings.

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Looking ahead, revenue is expected to fall by 16% p.a. on average during the next 3 years compared to a 18% decline forecast for the Real Estate industry in Germany.

Performance of the German Real Estate industry.

The company's shares are down 2.9% from a week ago.

Risk Analysis

You should always think about risks. Case in point, we've spotted 2 warning signs for LEG Immobilien you should be aware of, and 1 of them doesn't sit too well with us.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.