Added to YB: 2022-12-01
Pitch date: 2022-12-01
IFA.HM [bullish]
LS Invest AG
+80.53%
current return
Author Info
Company Info
LS Invest AG operates hotels. The company operates hotels and holiday apartments in tourist places, including the Baltic Sea in Germany, Gran Canaria in Spain, the Kleinwalsertal valley in northwest Austria, and the Costa Brava in the Dominican Republic.
Market Cap
EUR 503.3M
Pitch Price
EUR 5.65
Price Target
N/A
Dividend
N/A
EV/EBITDA
19.29
P/E
-51.02
EV/Sales
6.03
Sector
Hotels, Restaurants and Leisure
Category
special_situation
LS Invest: Heads I win big, tail I win a little
IFA.HM: Delisted German small-cap owning 9 hotels + 2 rehab clinics. Trades €5.6/sh vs €8.42 book. Lopesan owns 89.6%; squeeze-out (80% odds, 12-16mo) guarantees min book value = 50% upside, likely 100% at 1.2-1.5x book (€10-12). Spain hotel worth 2.3x book. Illiquid/info edge. ANFI properties free option. Even no squeeze-out, 15x EBITDA = €6-7.5/sh.
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