LDear readers, what do you think of a company that is available for one million euros and already has one in the current financial year Profit of one million euros promises? Sounds like a good investment. Employed capital and expected income are in an extremely pleasing relationship. Such a company would have a price-to-earnings ratio of 1. The price, the value of the company determined on the stock exchange, and the expected profit for the next financial year would be exactly the same. The P/E, the common abbreviation for this relation, would be one. Something like that does not exist? Right. But of the more than 300 companies listed in the strictly regulated Prime Standard of Deutsche Börse, one comes pretty close to the P/E ratio of one: die Salzgitter AG from the town of the same name in the northern Harz foothills. The value of the company on the stock market is currently estimated at almost 1.2 billion euros. Profit after tax tripled in the first half of the year to 781 million euros. For the second half of the year, the group advises caution. But the annual targets were more or less achieved in the first half of the year. Are stocks like Salzgitter a good buy in the current situation? Daniel Mohr from our business editorial team names the risks. It’s also about K+S, Thyssen-Krupp, Klöckner & Co., Hapag-Lloyd or BMW.
Building a house has become expensive. For many families it is Owning a home is now unaffordable. What now? Sandra Huemer spoke to three of those affected. Because the Demand for real estate has fallen by 17 percent in a year. This is shown by the data from the Immowelt portal. Figures from the Bundesbank make it clear that new business with private construction financing fell sharply in late summer. The volume in August was around 18.5 billion euros. This is the lowest value in almost four years. According to the association of private builders, there are currently significantly fewer builder inquiries than usual, especially in rural and structurally weak areas. An improvement is not in sight any time soon. The mortgage lender Interhyp expects interest rates to rise to around 4 percent by the end of the year. However, the motive that one of the interlocutors calls “biographical circular reasoning” can hardly be compensated for. “Anyone who grew up in a single-family home as a child usually wants the same for their own children.”
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And something else entirely: For triathletes, the Ironman Hawaii a life goal, terribly hard, outrageously expensive, fantastically beautiful. But sometimes he can Trip to paradise also to nightmare will. In the race or before. Two women from Darmstadt can sing a song about it. The island, the competition, didn’t treat them well, and it doesn’t matter whether you’re a professional or an amateur. Daniela Bleymehl is a professional. She has won six long-distance races in her career, including this year’s Frankfurt Ironman. Joanna Tywczynski, who works as a nurse at the Darmstadt Clinic, is an amateur. Michael Eder recorded their experiences.
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Yours, Carsten Knop
editor
Frankfurter Allgemeine Zeitung