Financiere et Immobiliere de l'Etang de Berre et de la Mediterranee S.A. (BERR.PA)

Financiere et Immobiliere de l'Etang de Berre et de la Mediterranee S.A. (BERR.PA) — VMCI valuation read

Financiere et Immobiliere de l'Etang de Berre et de la Mediterranee S.A. sits at VMCI 56/100, with the Real Estate sector median at 50. That 6-point spread is the first thing to note on BERR.PA: it tells the reader the composite is favorable before any single ratio is examined, and the mid-cap tier sets the comparison set.

Form 4 disclosures on BERR.PA are blank for the trailing 30 days. With the insider channel offline, the EV/EBITDA delta, free-cash-flow trajectory, and the next earnings print do the talking.

**Investor frame.** The Value read on BERR.PA: BERR.PA trades at 14.0x earnings, 22% below the Real Estate median of 18.0x, with EV/EBITDA at 13.0x against 12.0x. The Quality read: ROIC of 16.0% sits 6.0pp above the Real Estate median (10.0%). The Risk read: net debt to EBITDA of 1.6x is the rate-sensitivity line to watch, anchoring the bear scenario on a measurable balance-sheet metric.

BERR.PA rose 3.6% over the trailing 7 days, with a +0.2% read on a 30-day basis.