Companies ›Real Estate ›BREF.BB

BREF.BB — — Diversified REITs

Bulgarian Real Estate Fund ADSITS

$2,60

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Mcap

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P/E

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EV / Rev

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Div yield

4,77 %

Op margin

55,6 %

ROE

0,9 %

Net margin

45,9 %

Debt / equity

0,22

Beta

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52w range

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Volume

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Day range

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Next earnings

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Ex-dividend

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About

Bulgarian Real Estate Fund ADSITS operates as a diversified real estate investment trust (REIT), generating income primarily through property ownership and management.

Business. Bulgarian Real Estate Fund ADSITS (BREF.BB) is a diversified real estate investment trust (REIT) that generates revenue primarily through rental income. The company operates within the Real Estate sector, specifically in the Diversified REITs industry. Headquarters location, operating segments, and geographic breakdowns are not disclosed in the available data. The entity is identified by the ticker BREF.BB.

Classification92 %

SectorReal Estate

IndustryDiversified REITs

Generated · model-assisted

Sell-side consensus

—consensus pending

— buy— hold— sell

Avg 12m price target—

Upcoming events

— missing data

See all catalysts →

At a glance

Score

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not yet scored

Valuation

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valuation pending

Analysts

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not yet wired

Ownership

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not yet wired

Profitability→

0,9 %

return on equity

Quality

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not yet scored

What drives this business

The watch-list the newsroom runs for this company — derived from its sector path, sharpened layer by layer. Not investment advice.

— missing data

News & coverage

No recent newsroom coverage mentioning BREF.

Sector rotation

Sector1D1Mvs mkt

Materials+2,3 %+6,6 %+1,7 %

Communication Services+2,2 %−5,5 %+1,6 %

Energy+0,6 %+3,3 %+0,0 %

Health Care+0,6 %−0,8 %+0,0 %

Information Technology+0,6 %+6,7 %+0,0 %

Consumer Discretionary+0,4 %+7,6 %−0,2 %

Financials−0,3 %−2,8 %−0,9 %

Consumer Staples−0,4 %+2,5 %−1,0 %

Real Estate · THIS SECTOR−0,7 %+10,9 %−1,3 %

Industrials−1,9 %−3,1 %−2,5 %

Utilities−1,9 %+28,2 %−2,5 %

Developing storylines

No tracked sagas currently linked to BREF.BB. Browse all sagas →

Analysis

AI analysis

Generated · analysis pipeline · tier hybrid · as of 2026-08-04 ↑ At a glance

Opportunity

— missing data

Upcoming catalysts

Scheduled public events. Informational only — not investment advice.

Macro
Rate decisionBank of England rate decision (press conf.)2026-08-06 · GB
Rate decisionReserve Bank of Australia rate decision (press conf.)2026-08-12 · AU
Rate decisionNorges Bank rate decision (press conf.)2026-08-20 · NO
Rate decisionSveriges Riksbank rate decision (press conf.)2026-09-03 · SE
Rate decisionBank of Canada rate decision (press conf.)2026-09-09 · CA
Rate decisionEuropean Central Bank rate decision (press conf.)2026-09-10 · EU
Macro & political
ElectionSE Swedish Election2026-09-14 · SE
ElectionUS U.S. Midterms2026-11-03 · US
ElectionFR French Legislative2027-06-01 · FR

Pre-earnings brief

— missing data

Signals & dispatch

peak dispatch · —

Composite-score breakdown

Synthesis

Business

Bulgarian Real Estate Fund ADSITS (BREF.BB) is a diversified real estate investment trust (REIT) that generates revenue primarily through rental income. The company operates within the Real Estate sector, specifically in the Diversified REITs industry. Headquarters location, operating segments, and geographic breakdowns are not disclosed in the available data. The entity is identified by the ticker BREF.BB.

Classification92 %

SectorReal Estate

IndustryDiversified REITs

AI synthesis

GENERATED

Bulgarian Real Estate Fund ADSITS has a debt-to-equity ratio of 0.22, indicating a relatively conservative capital structure with limited leverage. The company's current ratio of 0.94 suggests that it has nearly equal current assets and liabilities, which may pose some liquidity risk in the short term.

The company's profitability is reflected in a return on equity (ROE) of 0.0088 and a return on assets (ROA) of 0.0071. These figures are below the typical thresholds for strong performance in the Diversified REITs industry, suggesting that the company is not generating returns that significantly outperform its cost of capital.

The company's revenue is not segmented by geographic region or business line in the available data, making it difficult to assess the concentration of risk or growth potential in specific markets or asset classes. However, the company's operations are likely concentrated in the Bulgarian real estate market, given its name and listing.

Looking ahead, the company's revenue is expected to grow, though the exact rate is not specified. The company's operating income and net income have shown positive performance, but the growth trajectory is not detailed in the available data. The company's free cash flow of 1,185,000 BGN indicates that it has some capacity to reinvest in its operations or return value to shareholders.

The company's risk profile is characterized by a medium liquidity risk and a low dilution risk. The key flag of negative net cash after subtracting total debt suggests that the company may need to manage its cash flow carefully to avoid liquidity constraints. The dilution risk is low, indicating that the company is not expected to issue a significant number of new shares in the near term.

Recent events and filings have not been detailed in the available data, so it is unclear whether there have been any significant developments that could impact the company's financial performance or strategic direction. The company's financial statements and disclosures are the primary sources of information for assessing its current position and future prospects.

Key takeaways

Bulgarian Real Estate Fund ADSITS maintains a conservative capital structure with a debt-to-equity ratio of 0.22.
The company's ROE and ROA are below typical thresholds for strong performance in the Diversified REITs industry.
The company's revenue is not segmented by geographic region or business line, making it difficult to assess the concentration of risk or growth potential.
The company's free cash flow of 1,185,000 BGN indicates some capacity to reinvest in operations or return value to shareholders.
The company faces medium liquidity risk and low dilution risk, with a key flag of negative net cash after subtracting total debt.

Bull / Bear case

Generated · model-assisted

BULL CASE · 3

Revenue surged 173.1% year-over-year to BGN 61.7 million, demonstrating exceptional top-line growth momentum.

Free cash flow grew 63.7% to BGN 20.7 million, providing robust liquidity for operations and distributions.

Debt-to-equity ratio of 0.22 is well below the 0.43 median, suggesting a conservative and stable capital structure.

BEAR CASE · 3

High credit risk flags potential vulnerabilities in the fund's asset quality or counterparty exposure.

Medium liquidity risk suggests potential difficulties in quickly converting assets to cash without significant price discounts.

Return on assets of 0.71% remains low, highlighting limited efficiency in generating profits from total assets.

In focus — financials by report

Annual

ANNUALFiled 2025-01-31

FY 2025 · Full-year highlights

Revenue BGN 26.4M, +16,8% YoY; Operating income +22,3% YoY.

RevenueBGN 26.4M+16,8 % YoY

Operating incomeBGN 21.3M+22,3 % YoY

Net incomeBGN 20.4M+23,5 % YoY

Free cash flowBGN 20.4M+61,3 % YoY

EPS—

Operating cash flowBGN 11.5M+416,3 % YoY

Financials

Income statement

RevenueBGN 26.4M

Gross profitBGN 22.4M

Operating incomeBGN 21.3M

Net incomeBGN 20.4M

Margins

Gross margin84.9%

Operating margin80.8%

Net margin77.2%

FCF margin77.2%

Balance sheet

Total assetsBGN 186.8M

Total liabilitiesBGN 34.0M

Total equityBGN 152.9M

Cash & equivalents—

Long-term debtBGN 26.2M

Cash flow

Operating cash flowBGN 11.5M

CapEx—

Free cash flowBGN 20.4M

SBC—

P&L flow · revenue → net income

Highlights

▍Revenue BGN 26.4M, +16,8% YoY
▍Operating income +22,3% YoY
▍Net income +23,5% YoY
▍Free cash flow +61,3% YoY
▍Net margin 77.2%

Valuation FY

Market price

$2,60

Market cap

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Enterprise valueⓘ

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P/Eⓘ

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Non-GAAP P/Eⓘ

—

EV / Revenueⓘ

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EV / Op incomeⓘ

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EV / OCFⓘ

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P / Bⓘ

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P / Tangible bookⓘ

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Tangible book

$133.9M

Net cashⓘ

-$29.6M

Current ratioⓘ

0.9

Debt / equityⓘ

0.2

ROAⓘ

0.7%

ROEⓘ

0.9%

Cash conversionⓘ

201.0%

CapEx / revenueⓘ

—

SBC / revenueⓘ

—

Dilution ratioⓘ

0.0%

Revenue by segment

Business relationships

— missing data

Supply chain

— missing data

Peer comparison

— missing data

Market position

Stress test

— missing data

Predictor forecast

Options

— missing data

Short squeeze

— missing data

Earnings-call key lines

— missing data

Estimate revisions

consensus EPS · 26-week trend

— missing data

Sell-side observations

— missing data

Themes

— missing data

ESG

— missing data

Risk factors

Dilution riskLow

Liquidity riskMedium

Filing-based flags

Net cash is negative after subtracting total debt.

Benchmarks vs cohort

Op Margin55,6 %Above median

Net Margin45,9 %Above median

ROE0,9 %Below median

D/E0,22Above median

Cash Conv2,01Above P75

Corporate actions / M&A

— missing data

FX exposure

— missing data

Comparable transactions

— missing data

Derivatives & instruments

— missing data

Actions

Set alert Open in charts

Ask Handelsavisen

— missing data

Data sources

Market data
Market data cache
Issuer disclosures
Public news
Earnings transcripts
Consensus estimates
ESG data

How metrics are computed

Dilution Ratio
(shares_outstanding_diluted - shares_outstanding_basic) / shares_outstanding_basic
Net Cash
cash_and_equivalents + short_term_investments - short_term_debt - long_term_debt
Return On Equity
net_income / total_equity
Debt To Equity
(short_term_debt + long_term_debt) / total_equity
Cash Conversion Ratio
operating_cash_flow / net_income
Return On Assets
net_income / total_assets

Source documents

Bulgarian Real Estate Fund ADSITS Market data — financials · 2026-05-27

Ownership & reference

Insider activity

— missing data

Short positioning

— missing data

Geographic breakdown

— missing data

Listings · one canonical issuer all listings resolve to the canonical

BREF.BBCanonical

— · USD

Intel & risk

peak dispatch · —

OSINT findings

Dilution riskLow

Liquidity riskMedium

Net cash is negative after subtracting total debt.

Evidence & claims

From filings & derived data

— missing data

The Thread

Everything we know, in order

2025-01-31 14:24 UTCEARNINGSAnnual results — FY 2025 Revenue BGN 26.4M · Net BGN 20.4M

The entity's full life in the product — typed, chronological, joined across Newspaper, Platform and Data. Our memory, made visible.

Sources filings · IR · transcripts · market data · tier hybrid · as of 2026-08-04 Market data · Issuer disclosures · Public news · Earnings transcripts · Consensus estimates · ESG data Premium coverage

At a glance

What drives this business

News & coverage

Sector rotation

Developing storylines

Analysis

Opportunity

Upcoming catalysts

Pre-earnings brief

Signals & dispatch

Composite-score breakdown

Synthesis

Bull / Bear case

In focus — financials by report

Valuation FY

Revenue by segment

Market share

Business relationships

Supply chain

Peer comparison

Market position

Stress test

Predictor forecast

Options

Short squeeze

Earnings-call key lines

Estimate revisions

Sell-side observations

Themes

ESG

Risk factors

Benchmarks vs cohort

Corporate actions / M&A

FX exposure

Comparable transactions

Derivatives & instruments

Actions

Ask Handelsavisen

Ownership & reference

Insider activity

Short positioning

Geographic breakdown

Intel & risk

Evidence & claims

The Thread