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1. Company Snapshot

1.a. Company Description

Eastnine AB (publ) is a real estate investment firm.The firm seeks to make emerging growth investments.In the beginning of 2017 it shifted its focus from both public and unlisted equity investments to purely real estate, where it makes investments in direct and fund of fund stages.


It may also invest in special situations on a selective basis.The firm invests in real estate sectors only.For real estate sector, it can also invest in land, real property, and other real estate assets.


It primarily invests in Eastern Europe, Russia and other CIS countries including Ukraine, Kazakhstan, Belarus, Uzbekistan, Turkmenistan, Azerbaijan, Georgia, Armenia, Kyrgyzstan, Tajikistan, and Moldova; the Balkans; the Baltic States; and Central Europe.The firm can also make investments into future East Capital private equity funds and real estate funds as well as in existing and future East Capital alternative funds.It also has the possibility to make limited investments in East Capital's open-ended daily-traded funds.


The firm is a long term active investor.The firm makes balance sheet investments.Eastnine AB (publ), formerly know as East Capital Explorer AB.


was founded in November 2007 and is based in Stockholm, Sweden with additional office in Tallinn, Estonia, Vilnius, Lithuania, Riga, Latvia.

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1.b. Last Insights on EAST

Recent insider buying activity in Eastnine AB (publ) suggests confidence in the company's growth potential. However, the real estate investment company faces headwinds from fluctuating market conditions and economic shifts. The lack of recent earnings release or significant business updates may have contributed to uncertainty, potentially offsetting the positive effect of insider ownership.

1.c. Company Highlights

2. Transcript Summary

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3. NewsRoom

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4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (4.85%)

6. Segments

Other Investments

Expected Growth: 5.2%

Eastnine AB's Other Investments segment is expected to grow driven by increasing demand for alternative investments, diversification of portfolios, and strategic acquisitions in unlisted companies and real estate.

Properties in Lithuania

Expected Growth: 4.5%

Eastnine AB's diversified portfolio of high-quality properties in Lithuania, including office and retail spaces, is expected to drive growth, fueled by increasing demand for commercial spaces, urbanization, and economic growth in the region.

Properties in Poland

Expected Growth: 4.5%

Driven by Poland's growing economy, urbanization, and increasing demand for modern logistics and office spaces, Eastnine AB's diversified property portfolio is poised for growth, fueled by the country's EU membership and strategic location at the crossroads of Europe.

Unallocated

Expected Growth: 5.5%

The unallocated assets from Eastnine AB (publ) are expected to grow driven by the company's diversified investment portfolio, strategic asset allocation, and a strong financial position, enabling it to capitalize on market opportunities and navigate potential downturns.

Properties in Latvia

Expected Growth: 4.5%

Eastnine AB's diversified portfolio in Latvia, comprising office, retail, and logistics spaces, is poised for growth driven by increasing demand for commercial properties, Latvia's growing economy, and the company's strategic asset management.

7. Detailed Products

Eastnine UCITS Fund

A UCITS-compliant fund that invests in a diversified portfolio of bonds, equities, and other securities, offering a stable source of income and capital growth.

Eastnine Real Estate Fund

A real estate investment fund that invests in a diversified portfolio of properties, providing a stable source of income and potential for long-term capital appreciation.

Eastnine Private Equity Fund

A private equity fund that invests in small and medium-sized enterprises, providing growth capital and strategic guidance to support business expansion.

Eastnine Credit Fund

A credit fund that invests in a diversified portfolio of debt securities, providing a stable source of income and potential for capital preservation.

Eastnine Alternative Investments

A range of alternative investment products, including hedge funds, private debt, and real assets, offering diversification and potential for returns uncorrelated with traditional assets.

8. Eastnine AB (publ)'s Porter Forces

Forces Ranking

Threat Of Substitutes

The threat of substitutes for Eastnine AB (publ) is moderate due to the presence of alternative investment options in the real estate industry.

Bargaining Power Of Customers

The bargaining power of customers is low for Eastnine AB (publ) as the company has a diversified portfolio of properties, making it less dependent on individual customers.

Bargaining Power Of Suppliers

The bargaining power of suppliers is moderate for Eastnine AB (publ) as the company relies on a few large suppliers for its property development projects.

Threat Of New Entrants

The threat of new entrants is high for Eastnine AB (publ) due to the relatively low barriers to entry in the real estate industry, making it easier for new companies to enter the market.

Intensity Of Rivalry

The intensity of rivalry is high for Eastnine AB (publ) due to the competitive nature of the real estate industry, with many established players competing for market share.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 41.72%
Debt Cost 4.91%
Equity Weight 58.28%
Equity Cost 8.02%
WACC 6.72%
Leverage 71.58%

11. Quality Control: Eastnine AB (publ) passed 3 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Stock-Card
Eastnine

A-Score: 5.7/10

Value: 4.7

Growth: 6.8

Quality: 6.7

Yield: 4.4

Momentum: 4.0

Volatility: 8.0

1-Year Total Return ->

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Stock-Card
Globalworth REI

A-Score: 5.6/10

Value: 6.8

Growth: 1.2

Quality: 4.3

Yield: 10.0

Momentum: 4.0

Volatility: 7.3

1-Year Total Return ->

View Full Report
Stock-Card
LSL Property Services

A-Score: 4.8/10

Value: 5.4

Growth: 2.3

Quality: 7.7

Yield: 5.6

Momentum: 2.0

Volatility: 5.7

1-Year Total Return ->

View Full Report
Stock-Card
Savills

A-Score: 4.7/10

Value: 5.5

Growth: 3.8

Quality: 4.6

Yield: 4.4

Momentum: 2.5

Volatility: 7.7

1-Year Total Return ->

View Full Report
Stock-Card
Helical

A-Score: 4.4/10

Value: 3.8

Growth: 1.6

Quality: 6.3

Yield: 5.0

Momentum: 4.0

Volatility: 6.0

1-Year Total Return ->

View Full Report
Stock-Card
VIB Vermögen

A-Score: 3.7/10

Value: 8.4

Growth: 3.1

Quality: 3.6

Yield: 1.9

Momentum: 1.0

Volatility: 4.3

1-Year Total Return ->

View Full Report

Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

48.25$

Current Price

48.25$

Potential

-0.00%

Expected Cash-Flows