Readcrest Capital AG: A Comprehensive Business Overview

Readcrest Capital AG, based in Hamburg, enters the spotlight with a new business model. It combines a steady UK domiciliary care provider with German real estate projects. This strategic blend aims to harness stable cash flows and capitalize on real estate development opportunities.

Key asset TV Healthcare, via subsidiary GHSC, is a significant UK domiciliary care provider, delivering around 90,000 care hours weekly. With FY25 sales at €128 million and a €12.5 million EBITDA, their recurring revenue base contracts are secured with local authorities.

The German real estate venture acquired stakes in multiple projects, totaling €658 million in gross development value. These projects, acquired at favorable terms from insolvency, still require permits and creditor agreements for further progress.

In July 2026, Readcrest Capital expanded into German commercial and logistics assets with RC Industrie Immobilien SE. The initial focus is on developing a pipeline of 180,000 sqm, although it currently holds no assets. Analysts recommend a BUY rating with a target price of €2.80, mainly driven by UK operation valuations.