Image source: godshutter

Highlights

  • Qualitas is an alternative real estate investment management firm which is based in Australia
  • In FY23, the company reported a 25% YoY increase in funds management revenue
  • On 22 February 2024, the company is expected to release its half year results for FY24

Qualitas Limited (ASX: QAL) is an Australia-based alternative real estate investment management company which offers multiple investment solutions to wholesale, retail and institutional clients. The company offers flexible capital solutions to its partners and creates long-term value for its community and shareholders.

The AUD 730.82 million market cap firm witnessed a 25% YoY rise in its funds management revenue to AUD 44.1 million in the financial year 2023 (FY23). During this period, net funds management revenue increased by 34.26% YoY to AUD 18.75 million, statutory NPAT grew by 19.37% YoY to AUD 22.54 million and normalized EBITDA decreased by 7.46% YoY to AUD 33.91 million.

Top 10 shareholders of QAL

The top 10 shareholders of QAL have around 71.27% shareholding in the company, while the top four have around 57.18% shareholding. The maximum stakes are held by ACS Qualitas Management Pty. Ltd., and Schwartz (Andrew) with a shareholding of 23.84% each.

Recent business update

On 29 January 2024, the company released an update regarding its half yearly results for FY24. The company shared that it would release its half year results for FY24 on 22 February 2024 and FY24 full year earnings on 21 August 2024.

Outlook

In FY24, the company expects its NPBT to fall in the range of AUD 37 – 41 million and EPS in the range of 8.75 – 9.70 cents per share.

The multi-dwelling residential sector is expected to deliver price growth as there is a substantial shortage in long-term residential supply. Moreover, the company informed that price growth has been seen for new residential apartments in areas of deep supply shortage and this pattern is anticipated to continue over the next one year.

Share performance of QAL

QAL shares closed flat at AU$2.45 apiece on 30 January 2024. With this, QAL’s share price has decreased by almost 13.12% in the last 12 months and increased by 5.60% in the last one month.

The 52-week high of QAL is AUD 2.94, recorded on 3 February 2023, while the 52-week low is AUD 1.92, recorded on 20 March 2023.

 QAL Daily Technical Chart, Source: REFINITIV

Note 1: Past performance is neither an Indicator nor a guarantee of future performance.

Note 2: The reference date for all price data, and currency, is 30 January 2024. The reference data in this report has been partly sourced from REFINITIV.