Author Topic: ETR:PBY - Publity AG  (Read 10259 times)

_JJ_

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Re: ETR:PBY - Publity AG
« Reply #20 on: December 19, 2017, 02:54:29 AM »
Do you have the results of the vote? I can't find information on the Publity website, looks like they deleted all info on the most recent vote?


ActOfWill

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Re: ETR:PBY - Publity AG
« Reply #21 on: December 19, 2017, 05:32:02 AM »
None of the resolutions passed.

The countermotion as I heard needed 5% more to pass at 75%. The quorum was met.

The notary is exceptionally slow as per last time and Publity is waiting for a signed certificate to publish on their website.

I told Publity that deleting documents from a website as they did without update is not a thing you do to inspire confidence. But apparently there is a technical issue with the website at the moment that they are trying to resolve.

Next step is to speak to one dissenting voter and aim for a meeting in January... that hopefully will pass on the countermotion.

JM

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Re: ETR:PBY - Publity AG
« Reply #22 on: January 11, 2018, 11:14:03 PM »
The share is down to 32€. Is this just normal volatility or is there some new information affecting the valuation?

_JJ_

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Re: ETR:PBY - Publity AG
« Reply #23 on: January 12, 2018, 08:36:52 AM »
I'm not aware of any news...

ActOfWill

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Re: ETR:PBY - Publity AG
« Reply #24 on: January 12, 2018, 09:05:09 AM »
Some one informed me that a Spanish fund  "True Value" announced they had unwound their position 2 months ago. That news has caused some selling from some people that track their portfolio:

https://www.rankia.com/foros/fondos-inversion/temas/2607169-true-value?page=281#respuesta_3781597

Nothing has changed fundamentally IMO.

Lakesider

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Re: ETR:PBY - Publity AG
« Reply #25 on: January 24, 2018, 11:50:47 AM »
This has continued to take a beating. Anyone know when they are due to announce yearly results?

JM

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Re: ETR:PBY - Publity AG
« Reply #26 on: January 29, 2018, 02:09:13 AM »
http://www.publity.de/en/investor/2016-05-25-13-59-26/press-releases/item/1091-publity-anticipates-earnings-for-2017-to-be-lower-than-previous-year

"the company has not reached the previous year’s earnings of EUR 23.1 million. However, according to current information, earnings for the year will be significantly positive. This is due to property sales that were not realised at the end of 2017 in the amount of EUR 280 million which have been shifted to 2018. Assets under management increased substantially through to the end of 2017, however it was not possible to attain the target of EUR 5.2 billion. The portfolio property holdings will also be increased after 31 December using the existing liquidity. Provisional figures for the 2017 financial year are scheduled to be published on 20 February."

Lakesider

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Re: ETR:PBY - Publity AG
« Reply #27 on: January 29, 2018, 11:38:09 AM »
Quote
while preparing the annual financial statements for 2017, the Managing Board of publity AG has come to believe that in 2017 the company has not reached the previous year’s earnings of EUR 23.1 million

I read this as earnings are in the same ballpark as they were in 2016. The EUR 280 million sale should be a good start to 2018. Looks like the market has overreacted to the negative news? 

Would love to know some of your thoughts.




LaGrandeBelleza

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Re: ETR:PBY - Publity AG
« Reply #28 on: February 15, 2018, 02:06:52 PM »
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while preparing the annual financial statements for 2017, the Managing Board of publity AG has come to believe that in 2017 the company has not reached the previous year’s earnings of EUR 23.1 million

I read this as earnings are in the same ballpark as they were in 2016. The EUR 280 million sale should be a good start to 2018. Looks like the market has overreacted to the negative news? 

Would love to know some of your thoughts.

Imo the market has overreacted given the fact that the adjusted 2017 result, taking into account the 280M shifted sale, shouldn't be that bad.

The thing is lots of uncertainty has been adding up regarding the company:

- PBY is quite opaque by it's own nature and the management hasn't helped to calm the investors
- Uncertainty and poor communication regarding the bond and its terms, they attemped this weird change of the prospectus that nobody understood
- The lack of news regarding transactions during late 2017 and early 2018 has scared even more people as they believe the business might have been materially impaired
- Yet again lack of PR & basic IR skills

Moreover most of the shareholder base were retail investors who were there for the dividend and most didn't perform any further research and just run away when uncertainty come into place. Most of these retail investors have just been elucubrating over every aspect regarding Publity but most don't seem to grasp the reality of the business or the situation, that just adds up to the uncertainty and downwards spiral.

So all in all, unless there is some hidden corpse in the closet, the company looks really cheap being an asset light cash generative business however until there is some catalyst and/or the management takes real action in order to solve these communication issues and misunderstandings the stock is on the middle of nowhere.

whiterose

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Re: ETR:PBY - Publity AG
« Reply #29 on: February 18, 2018, 03:47:39 PM »
some comments from a workplace ratings platform: https://www.kununu.com/de/publity/kommentare
looks not too good..