By estimates doing some numbers this morning, the company owns about 50% of 1.67m m2 of retail which rents for about a average of $450-500 net per m2 which works out to around $350M of income. That's Just over 50% of the business income and with a yeild value of around 7% which is cheap (6 - 6.5% sale value is normal market value) it values its assets around $5 Billion.(don't forget these assets grow income around 3-4% a year)
That alone as a component of the share price is around $1.75 - $1.8 which is safe sound income year in year out.
Then to add you still have the remaining business operations which from the $680m generate is about half of that, however valued at a higher yeild so say 10% and ill compensate another loss of income of $150m making it $180m left of income values it at $1.8 Billion or $0.62c per share as a component.
Combined is about $2.37 a share as a safe value under valuing the retail and compensating further $150m of losses beyond the $680m reported.
If the company gets back on track this year and moves forward with strong foundations implemented by Ferrari , there is fantastic upside here.
In terms of hitting the bottom, I think where here
Dont you just love the name Francesco de Ferrari
I can just imaging the headlines at the end of the year lol
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Open | High | Low | Value | Volume |
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1 | 24567 | $1.12 |
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Price($) | Vol. | No. |
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No. | Vol. | Price($) |
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4 | 63503 | 1.110 |
3 | 117680 | 1.105 |
2 | 70610 | 1.100 |
1 | 66086 | 1.095 |
Price($) | Vol. | No. |
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1.120 | 135317 | 18 |
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