Edison Investment Research - Financials - RCM Beteiligungs: Ahead of H1 results on 15 August, Q1 showed the success of RCM Beteiligungs’ strategic focus on certain well-defined projects. Quarterly PBT of €2.3m, which alone exceeded full-year 2017 thanks to a c €11m development sale, all but guarantees guidance of more than €3m PBT in 2018. Driven by favourable macro factors and scope for efficiencies, asset development and appreciation, RCM’s positive outlook is reflected in confirmation of a 50% dividend hike for last year. Solid finances (almost 5x 2017 interest cover and an above industry-average equity ratio of 40%+ at March 2018) provide ample scope for reinvestment after Q1 disposals.
ISIN: DE000A1RFMY4
Original Article: RCM Beteiligungs (RCM) - Playing smart