Geert de Mesure’s five favorite actions

German Uman Produces high quality machine tools Which are used in the automotive, aviation, consumer electronics and alternative energies sectors. After a difficult period in 2020 and 2021, the company is experiencing a strong recovery, with a 27% increase in semi-annual sales and an 85% increase in the order book. Based on analyst estimates, the price/earnings ratio should be at 14.7 in 2023 and the EV/EBITDA ratio at 4.3. In addition, net liquidity is expected to exceed the market value of the company’s shares by 30% this year.

Bakkarte’s class has long been described as a “periodic” class in basic materials sector. In the context of slowing growth, this is nothing but an asset, as evidenced by the significant decline (+30%) in the share price since the beginning of the year. but meanwhile, Results continue to develop positively and the company is benefiting from the transformation plan that was launched a few years ago. This shift allows it to generate ample cash flow, which should boost its cash yield in the coming year.

Friedrich Vorwerk is a German company Specializing in energy infrastructure construction with its own technology and components. It is in the front row to benefit from the German energy transition. Inventory has performed less well in the stock market in recent weeks due to rising material prices and new project starts. The stock is trading with a price/earnings ratio of just 9.8 and an EV/EBITDA ratio of 3.7. By the end of the year, net cash should represent approximately 20% of the group’s market capitalization.

this year, German residential real estate It was severely punished in the stock market, with declines of more than 60%. Active in the sector in Germany and Poland, TAG Immobilien had to carry out a capital increase to finance the acquisition, at the end of 2021, of a major Polish real estate developer, which caused a further decline in the share price. Like the rest of the industry, TAG will face rising funding costs and may need to book declines. But The market has so exaggeratedly anticipated this development that the action now offers a 68% discount..

with this Dutch specialist in commercial real estateWe are betting on the very low valuation of this sector in Europe. The sector has gone through crises over the past five years, but the group now looks better prepared for the future. We do not see significant pressure on current rents, on the contrary, the sector benefits from the rental index. However, the rise in refinancing rates should be felt. Wereldhave’s stake is trading at less than 8 times the current expected 2022 earnings and the total dividend yield is 10%.