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    Real estate development
Appeninn Vagyonkezelo Holding Nyrt

Appeninn Vagyonkezelo Holding Nyrt

BBUD:APPENINN
590.00
HUF
+8.00
(+1.37%)
37.04BMarket Cap
Appeninn Vagyonkezelo Holding Nyrt
BUD:APPENINN
(Budapest Stock Exchange)

Recent

price

590.00

P/E

ratio

- -

div

yld

- -

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
EUR
- -
0.11
0.15
0.16
0.14
0.13
0.13
0.13
0.13
0.16
0.16
0.17
0.17
0.41
0.49
0.48
- -
Revenue per Share
0.01
0.02
0.04
0.03
-0.08
0.03
0.07
0.07
0.39
0.26
0.28
-0.12
0.33
0.48
0.33
0.08
- -
Basic EPS, GAAP
-0.01
-0.02
0.09
0.17
0.12
0.07
0.07
0.11
0.12
-0.13
0.06
0.33
0.63
0.22
0.34
0.27
- -
Free Cash Flow per Basic Share
- -
- -
- -
- -
- -
- -
- -
0.02
- -
- -
- -
- -
- -
- -
- -
- -
- -
Dividend per Share
0.42
0.42
0.52
0.62
0.55
0.62
0.71
0.79
1.33
1.54
1.63
1.56
1.79
2.34
2.5
2.71
2.71
Book Value per Share
0.42
0.2
0.29
0.39
0.39
0.56
0.71
0.79
1.32
1.54
1.54
1.47
1.79
2.34
2.5
2.71
2.71
Tangible Book Value per Share
28
29
31
31
34
34
36
39
45
47
47
47
47
47
47
47
47
Basic Weighted Avg Shares
- -
3
5
5
5
5
5
5
6
7
7
8
8
19
23
23
- -
Sales/Revenue/Turnover
-32.84
42.55
50.2
53.69
52.24
56.77
47.13
49.88
40.25
61.57
51.42
48.35
56.65
56.15
65.64
62.82
- -
Operating Margin (%)
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Depreciation Expense
- -
1
1
1
-3
1
2
3
17
12
13
-6
16
23
16
4
- -
Net Income, GAAP
1.93
- -
24.62
27
- -
50.54
- -
22.52
10.9
- -
9.96
29.32
12.1
- -
2.14
13.23
- -
Effective Tax Rate (%)
369.92
23.25
23.96
20.06
-58.44
25.47
53.52
51.66
300.83
163.67
179.45
-72.07
194.13
116.83
67.36
16.67
- -
Profit Margin (%)
3
1
-1
-2
-1
-2
- -
5
-2
33
6
-7
57
17
53
62
62
Working Capital
1
41
46
47
44
35
32
33
40
93
90
103
75
87
100
101
101
LT Debt
12
13
16
21
19
22
28
32
62
74
80
74
83
111
119
128
128
Total Equity
-0.19
- -
2.97
2.02
- -
1.21
- -
5.2
21.64
- -
10.53
-0.66
2.36
- -
7.07
5.49
- -
Return on Invested Capital (%)
2.28
- -
3.99
3.04
- -
2.92
- -
5.2
20.65
- -
9.02
-2.39
11.66
- -
9.16
3.33
- -
Return on Capital (%)
2.28
6.02
8.07
5.5
-13.49
5.9
10.1
8.44
36.79
17.9
17.55
-7.63
19.67
23.27
13.57
3.1
- -
Return on Common Equity (%)

Capital Structure

EUR

•

in mil. unless spec.
Dec'24
Jun'25
Dec'25
ST Debt
3
3
4
LT Borrowings
100
51
101
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
47
47
47
Market Capitalization
77
83
96

Working Capital

EUR

•

in mil. unless spec.
Dec'24
Jun'25
Dec'25
Total Current Assets
62
68
70
Cash, Cash Equivalents & STI
47
52
56
Accounts Receivable, Net
2
2
2
Inventories
- -
- -
- -
Total Current Liabilities
8
8
8
Payables & Accruals
- -
- -
- -
ST Debt
3
3
4
Deferred Revenue
- -
- -
- -

Growth Rates

EUR

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
21.87%
10.64%
8.36%
Free Cash Flow
21.57%
95.47%
-20.79%
Net Income, GAAP
10.08%
-114.99%
-75.46%
Sales/Revenue/Turnover
22.17%
33.9%
-0.86%
Total Cash Common Dividend
- -
- -
- -

Semi-annual Revenue

EUR

•

in mil. unless spec.

Year

H1
H2
FY
2023
- -
- -
19
2024
- -
- -
23
2025
- -
- -
23

Semi-annual Earnings Per Share

EUR

•

in mil. unless spec.

Year

H1
H2
FY
2023
- -
- -
0.48
2024
- -
- -
0.33
2025
- -
- -
0.08

Semi-annual Dividends Per Share

EUR

•

in mil. unless spec.

Year

H1
H2
FY
2023
- -
- -
- -
2024
- -
- -
- -
2025
- -
- -
- -
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Business
Appeninn Vagyonkezelo Holding Nyrt. is a Hungary-based real estate investment and asset management holding company specializing in the acquisition, development, leasing, and operation of high-yield commercial real estate assets across Central and Eastern Europe. Founded in 2009 and headquartered in Budapest, Hungary, the company operates as a Regulated Real Estate Investment Company (SZIT). Appeninn structures its commercial offerings across three principal business segments: Office Real Estate, comprising the acquisition, asset management, and long-term leasing of Class A and Class B corporate office complexes and multi-tenant business parks; Retail Real Estate, encompassing the ownership, commercial leasing, and operational management of regional shopping centers, retail strip parks, and convenience retail centers; and Logistics and Industrial Real Estate, focusing on the leasing, facility management, and administration of modern warehousing hubs and distribution centers. In addition to real property leasing, the company provides comprehensive property and portfolio management services to its subsidiaries and commercial clients, including centralized property maintenance and technical operations; active tenant relationship management and lease administration; procurement and legal representation; facility management; and strategic real estate asset valuation. The company serves multinational corporations, retail chains, logistics providers, and domestic businesses across its primary target markets in Hungary and Poland. In recent developments, Appeninn transitioned its corporate operating structure to become a Regulated Real Estate Investment Company (SZIT) effective January 1, 2024, optimizing its operational framework and tax efficiency. As part of a major strategic shift toward core, income-generating commercial assets with stable cash flows, the company systematically divested non-core tourism and residential development holdings. To accelerate its international geographic expansion, Appeninn completed major acquisitions in the Polish market, including the acquisition of the Goodyear logistics center in Tarnow and a portfolio of 11 retail properties from Dekada S.A. comprising seven retail parks and four shopping centers.