Capman: Strategic changes might take a while to pay off - Nordea
CapMan is a leading Nordic private asset manager, serving international and domestic customers and specialising in Real Estate.
ANNONS
With its Q2 report, it established two new funds in its fundraising portfolio, which implies confidence in investor demand despite the current economic turmoil. On the negative side, the reorganisation of the Services business may have a negative effect on the short-term earnings outlook. Financial performance was burdened by weak market conditions and Q2 EBIT without fair value changes missed consensus by 35%.
We calculate a fair value range of EUR 1.7-2.0 based on the average of three valuation methods.