Despite the macro headwinds, Deutsche Grundstücksauktionen (DGA) reported record-high auction sales in FY20 of €142.7m (significantly above the €100.1m in FY19) and commission income of €12.7m (versus €10.1m in FY19). DGA continued its strong performance in Q121, reporting turnover of €37.9m - the second-highest quarterly result in its history (only behind Q320), with €47.8m group sales. The group benefits from agreements with government institutions, which offer high-volume properties for sale and fueled a 51.3% y-o-y increase in average sale price across the group to €96.6k. On the other hand, due to a regressive commission scale, the average commission rate declined from 10.1% to 8.9% in FY20. Management expects a slight decline in transaction volume in FY21, as the FY20 figure was inflated by significant one-off transactions.Den vollständigen Artikel lesen ...