Beno Holding AG: insider trades · Germany · BaFin

About Beno Holding AG

BENO Holding AG is a German real estate company listed in Germany on Xetra/Frankfurt (DAX/MDAX/SDAX), with additional visibility on Börse München’s m:access segment and on the Frankfurt open market. Headquartered in Munich, Germany, the company has built its investment case around owning, acquiring, and transforming light-industrial and warehouse-type properties. Its self-described “buy, transform & hold” approach targets operating real estate with recurring cash flow, mixed production-logistics-administration usage, and upside from active asset management rather than new construction. The company’s roots in light-industrial property investment go back to 2008, while BENO Holding AG itself was established in 2014. Over time, the group has developed an integrated asset-management platform spanning property ownership, operational management, and, more recently, on-site energy solutions. In 2022, BENO created BENO Energy GmbH in Munich to design, build, and operate photovoltaic systems on the roofs of its industrial assets, enabling tenants to use locally generated electricity at potentially below-market rates. Operationally, BENO reported a portfolio of 12 German sites, around 36 tenants, and roughly 158,000 m² of total lettable area at the end of 2025. Its footprint is concentrated in Germany and diversified across industrial and logistics submarkets, particularly in North Rhine-Westphalia, Bavaria, Baden-Württemberg, and Saxony. This geographic spread supports a mix of stable rental income, portfolio resilience, and value creation through refurbishment, energy optimization, and digitalized property management. From a competitive standpoint, BENO operates in a niche but attractive segment: light industrial real estate. The segment benefits from limited supply, demand from SME industrial and logistics users, and increasing institutional appetite for flexible assets with multiple potential end uses. BENO differentiates itself through active portfolio management, a relatively compact asset base, and a platform model that can be scaled over time. Its “products” are therefore not manufactured goods, but a set of real-estate services: acquisition, long-term ownership, redevelopment, asset management, leasing, and increasingly on-site photovoltaic power generation. Recent developments point to improving operating momentum. In February 2026, BENO fully and on time repaid a EUR 10 million corporate bond linked to earlier acquisitions, reinforcing its financial discipline and gradual deleveraging strategy. In April 2026, the company released preliminary 2025 figures showing revenue of about EUR 9.2 million, an improved consolidated net result, and stronger operating cash flow, while also indicating a portfolio valuation of roughly EUR 90 million. These updates suggest a company moving from portfolio build-out toward a more scalable operating phase.