CR Energy AG Maintains Strong Performance Amid Property Downturn, According to First Berlin Equity Research

First Berlin Equity Research has released its latest analysis on CR Energy AG (ISIN: DE000A2GS625), reiterating a BUY rating with a target price of EUR 48.00. Analyst Ellis Acklin highlighted the company's enduring financial strength despite a challenging real estate market. CR Energy reported a slight decline in EBIT for 2023, tallying €65 million compared to €75 million in 2022, mainly due to lower portfolio revaluations.

The report also noted an 8% increase in operating cash flow per share, reaching €4.00 and boosting cash reserves to €19.5 million by year's end. Additionally, a rights issue completed in January 2023 successfully raised €3.5 million from the full subscription of offered shares. The proceeds are expected to support CR Energy’s affiliates, including Solartec, CR Opportunities, and Terrabau, as they seek to explore growth opportunities throughout the year.