Added to YB: 2026-08-13
Pitch date: 2026-08-11
PAT.DE [neutral]
PATRIZIA SE
+1.19%
current return
Author Info
Lux Opes Research covers European companies. Lots of them. Sign up for the newsletter.
Company Info
PATRIZIA SE has been providing investment opportunities in smart real assets for institutional, semi-professional, and private investors for more than 40 years, focusing on real estate and infrastructure.
Market Cap
EUR 638.9M
Pitch Price
EUR 7.54
Price Target
N/A
Dividend
N/A
EV/EBITDA
11.79
P/E
22.58
EV/Sales
3.17
Sector
Real Estate Management and Development
Category
turnaround
Patrizia (PAT Germany): Cost cuts lift earnings while fee growth remains elusive
PAT.DE (update): Q2 EBITDA +54% to €18.9m driven almost entirely by cost cuts (staff €36.7m→€32.0m, opex €15.2m→€10.6m), not fees. Service fee income -6.6% to €58.1m, mgmt fees -8.6%. AuM flat €55.9bn. Net income €4.7m. Fundraising €0.8bn vs €0.3bn, transactions +16% to €1.6bn signal recovery, but fee transmission limited & cost gains may not sustain. 2026 EBITDA guide €60-75m maintained. Needs revenue growth to convince.
Read full article (2 min)