Reported Earnings • May 11
First quarter 2026 earnings released: EPS: kr.5.24 (vs kr.4.86 in 1Q 2025) First quarter 2026 results: EPS: kr.5.24 (up from kr.4.86 in 1Q 2025). Revenue: kr.460.4m (up 3.9% from 1Q 2025). Net income: kr.290.1m (up 7.7% from 1Q 2025). Profit margin: 63% (up from 61% in 1Q 2025). Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Buy Or Sell Opportunity • Apr 08
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 4.5% to kr.207. The fair value is estimated to be kr.172, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 6.2% over the last 3 years. Earnings per share has declined by 45%. Upcoming Dividend • Apr 03
Upcoming dividend of kr.3.00 per share Eligible shareholders must have bought the stock before 09 April 2026. Payment date: 13 April 2026. Payout ratio is a comfortable 17% and this is well supported by cash flows. Trailing yield: 1.5%. Lower than top quartile of Danish dividend payers (4.6%). Lower than average of industry peers (3.6%). Buy Or Sell Opportunity • Mar 13
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 4.5% to kr.209. The fair value is estimated to be kr.172, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 6.2% over the last 3 years. Earnings per share has declined by 45%. Buy Or Sell Opportunity • Feb 26
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 4.8% to kr.207. The fair value is estimated to be kr.172, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 6.2% over the last 3 years. Earnings per share has declined by 45%. Declared Dividend • Feb 21
Dividend of kr.3.00 announced Dividend of kr.3.00 is the same as last year. Ex-date: 9th April 2026 Payment date: 13th April 2026 Dividend yield will be 1.5%, which is lower than the industry average of 3.9%. Sustainability & Growth Dividend is well covered by both earnings (18% earnings payout ratio) and cash flows (26% cash payout ratio). The dividend has increased by an average of 2.8% per year over the past 8 years. However, payments have been volatile during that time. Earnings per share has grown by 17% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Feb 20
Full year 2025 earnings released: EPS: kr.18.06 (vs kr.2.03 in FY 2024) Full year 2025 results: EPS: kr.18.06 (up from kr.2.03 in FY 2024). Revenue: kr.1.75b (up 2.5% from FY 2024). Net income: kr.1.00b (up kr.887.8m from FY 2024). Profit margin: 57% (up from 6.6% in FY 2024). Over the last 3 years on average, earnings per share has fallen by 45% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings. Reported Earnings • Nov 13
Third quarter 2025 earnings released: EPS: kr.5.95 (vs kr.6.76 loss in 3Q 2024) Third quarter 2025 results: EPS: kr.5.95 (up from kr.6.76 loss in 3Q 2024). Revenue: kr.435.3m (up 3.5% from 3Q 2024). Net income: kr.89.1m (up kr.463.3m from 3Q 2024). Profit margin: 21% (up from net loss in 3Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 78 percentage points per year, which is a significant difference in performance. Reported Earnings • Aug 08
Second quarter 2025 earnings released: EPS: kr.4.35 (vs kr.0.44 in 2Q 2024) Second quarter 2025 results: EPS: kr.4.35 (up from kr.0.44 in 2Q 2024). Revenue: kr.438.0m (flat on 2Q 2024). Net income: kr.240.6m (up kr.216.1m from 2Q 2024). Profit margin: 55% (up from 5.6% in 2Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 95 percentage points per year, which is a significant difference in performance. Reported Earnings • May 09
First quarter 2025 earnings released: EPS: kr.4.86 (vs kr.2.07 in 1Q 2024) First quarter 2025 results: EPS: kr.4.86 (up from kr.2.07 in 1Q 2024). Revenue: kr.443.0m (up 6.4% from 1Q 2024). Net income: kr.269.3m (up 135% from 1Q 2024). Profit margin: 61% (up from 28% in 1Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 92 percentage points per year, which is a significant difference in performance. Declared Dividend • Mar 26
Dividend of kr.3.00 announced Dividend of kr.3.00 is the same as last year. Ex-date: 1st April 2025 Payment date: 3rd April 2025 Dividend yield will be 1.5%, which is lower than the industry average of 3.9%. Sustainability & Growth Dividend is not covered by earnings (148% earnings payout ratio). However, it is well covered by cash flows (31% cash payout ratio). The dividend has increased by an average of 3.2% per year over the past 7 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 64% to bring the payout ratio under control. However, EPS has declined by 33% over the last 5 years so the company would need to reverse this trend. Reported Earnings • Feb 24
Full year 2024 earnings released: EPS: kr.2.03 (vs kr.14.95 loss in FY 2023) Full year 2024 results: EPS: kr.2.03 (up from kr.14.95 loss in FY 2023). Revenue: kr.1.71b (flat on FY 2023). Net income: kr.112.6m (up kr.940.9m from FY 2023). Profit margin: 6.6% (up from net loss in FY 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 86 percentage points per year, which is a significant difference in performance. Anuncio • Feb 21
Jeudan A/S, Annual General Meeting, Apr 09, 2025 Jeudan A/S, Annual General Meeting, Apr 09, 2025, at 16:30 Romance Standard Time. Location: industriens hus, h. c. andersens, boulevard 18, 1787 copenhagen v., Denmark Reported Earnings • Nov 14
Third quarter 2024 earnings released: kr.6.76 loss per share (vs kr.7.11 profit in 3Q 2023) Third quarter 2024 results: kr.6.76 loss per share (down from kr.7.11 profit in 3Q 2023). Revenue: kr.420.7m (down 19% from 3Q 2023). Net loss: kr.374.1m (down 195% from profit in 3Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 74 percentage points per year, which is a significant difference in performance. New Risk • Aug 08
New major risk - Revenue and earnings growth Earnings have declined by 1.3% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.2x net interest cover). Earnings have declined by 1.3% per year over the past 5 years. Reported Earnings • Aug 08
Second quarter 2024 earnings released: EPS: kr.0.44 (vs kr.5.98 loss in 2Q 2023) Second quarter 2024 results: EPS: kr.0.44 (up from kr.5.98 loss in 2Q 2023). Revenue: kr.435.0m (down 16% from 2Q 2023). Net income: kr.24.5m (up kr.355.4m from 2Q 2023). Profit margin: 5.6% (up from net loss in 2Q 2023). Over the last 3 years on average, earnings per share has fallen by 58% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings. Anuncio • Jun 06
Jeudan A/S (CPSE:JDAN) acquired Rosenborg Annex from Catella Real Estate AG Kapitalanlagegesellschaft. Jeudan A/S (CPSE:JDAN) acquired Rosenborg Annex from Catella Real Estate AG Kapitalanlagegesellschaft on June 4, 2024. Catella Corporate Finance A/S acted as financial advisor, Plesner Advokatpartnerselskab acted as legal advisor, Ernst & Young Europe ApS acted as accountant to Catella Real Estate AG Kapitalanlagegesellschaft.
Jeudan A/S (CPSE:JDAN) completed the acquisition of Rosenborg Annex from Catella Real Estate AG Kapitalanlagegesellschaft on June 4, 2024. Reported Earnings • May 16
First quarter 2024 earnings released: EPS: kr.2.07 (vs kr.0.40 loss in 1Q 2023) First quarter 2024 results: EPS: kr.2.07 (up from kr.0.40 loss in 1Q 2023). Revenue: kr.416.4m (down 15% from 1Q 2023). Net income: kr.114.6m (up kr.136.6m from 1Q 2023). Profit margin: 28% (up from net loss in 1Q 2023). Over the last 3 years on average, earnings per share has fallen by 37% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Apr 03
Upcoming dividend of kr.3.00 per share Eligible shareholders must have bought the stock before 10 April 2024. Payment date: 12 April 2024. The company is not currently making a profit and there are not enough cash flows to support it either. Trailing yield: 1.4%. Lower than top quartile of Danish dividend payers (5.6%). Lower than average of industry peers (3.6%). Reported Earnings • Feb 23
Full year 2023 earnings released: kr.14.95 loss per share (vs kr.60.65 profit in FY 2022) Full year 2023 results: kr.14.95 loss per share (down from kr.60.65 profit in FY 2022). Revenue: kr.1.72b (down 14% from FY 2022). Net loss: kr.828.3m (down 125% from profit in FY 2022). Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Dec 20
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to kr.217, the stock trades at a trailing P/E ratio of 75.7x. Average trailing P/E is 11x in the Real Estate industry in Denmark. Total loss to shareholders of 6.8% over the past three years. Reported Earnings • May 28
First quarter 2023 earnings released: kr.0.40 loss per share (vs kr.19.07 profit in 1Q 2022) First quarter 2023 results: kr.0.40 loss per share (down from kr.19.07 profit in 1Q 2022). Revenue: kr.487.6m (up 3.8% from 1Q 2022). Net loss: kr.22.1m (down 102% from profit in 1Q 2022). Over the last 3 years on average, earnings per share has increased by 57% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Upcoming Dividend • Apr 13
Upcoming dividend of kr.3.00 per share at 1.2% yield Eligible shareholders must have bought the stock before 20 April 2023. Payment date: 24 April 2023. Payout ratio is a comfortable 4.9% and this is well supported by cash flows. Trailing yield: 1.2%. Lower than top quartile of Danish dividend payers (4.1%). Lower than average of industry peers (4.0%). Reported Earnings • Mar 02
Full year 2022 earnings released: EPS: kr.60.65 (vs kr.42.45 in FY 2021) Full year 2022 results: EPS: kr.60.65 (up from kr.42.45 in FY 2021). Revenue: kr.2.00b (up 10% from FY 2021). Net income: kr.3.36b (up 43% from FY 2021). Over the last 3 years on average, earnings per share has increased by 66% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Reported Earnings • Nov 18
Third quarter 2022 earnings released: EPS: kr.13.08 (vs kr.2.14 in 3Q 2021) Third quarter 2022 results: EPS: kr.13.08 (up from kr.2.14 in 3Q 2021). Revenue: kr.503.9m (down 5.1% from 3Q 2021). Net income: kr.724.5m (up kr.606.2m from 3Q 2021). Over the last 3 years on average, earnings per share has increased by 74% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 4 non-independent directors. Independent Director Helle Okholm was the last independent director to join the board, commencing their role in 2017. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Aug 22
Second quarter 2022 earnings released: EPS: kr.26.36 (vs kr.6.67 in 2Q 2021) Second quarter 2022 results: EPS: kr.26.36 (up from kr.6.67 in 2Q 2021). Revenue: kr.528.4m (up 42% from 2Q 2021). Net income: kr.1.46b (up 296% from 2Q 2021). Over the last 3 years on average, earnings per share has increased by 66% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Reported Earnings • May 27
First quarter 2022 earnings: EPS and revenues miss analyst expectations First quarter 2022 results: EPS: kr.19.07 (up from kr.9.49 in 1Q 2021). Revenue: kr.469.6m (up 18% from 1Q 2021). Net income: kr.1.06b (up 101% from 1Q 2021). Revenue missed analyst estimates by 3.2%. Earnings per share (EPS) also missed analyst estimates by 25%. Over the last 3 years on average, earnings per share has increased by 60% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 4 non-independent directors. Independent Director Helle Okholm was the last independent director to join the board, commencing their role in 2017. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Apr 14
Upcoming dividend of kr.2.40 per share Eligible shareholders must have bought the stock before 21 April 2022. Payment date: 25 April 2022. Payout ratio is a comfortable 5.7% and this is well supported by cash flows. Trailing yield: 0.9%. Lower than top quartile of Danish dividend payers (6.1%). Lower than average of industry peers (3.3%). Reported Earnings • Mar 06
Full year 2021 earnings: EPS and revenues miss analyst expectations Full year 2021 results: EPS: kr.42.45 (up from kr.8.14 in FY 2020). Revenue: kr.1.81b (up 18% from FY 2020). Net income: kr.2.35b (up 422% from FY 2020). Revenue missed analyst estimates by 3.2%. Earnings per share (EPS) also missed analyst estimates by 25%. Over the last 3 years on average, earnings per share has increased by 47% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Reported Earnings • Nov 19
Third quarter 2021 earnings released: EPS kr.2.14 (vs kr.1.74 in 3Q 2020) The company reported a solid third quarter result with improved earnings and revenues, although profit margins were weaker. Third quarter 2021 results: Revenue: kr.531.1m (up 29% from 3Q 2020). Net income: kr.118.3m (up 23% from 3Q 2020). Profit margin: 22% (down from 23% in 3Q 2020). Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 24
Second quarter 2021 earnings released: EPS kr.6.67 (vs kr.0.79 in 2Q 2020) The company reported a solid second quarter result with improved earnings and profit margins, although revenues were flat. Second quarter 2021 results: Revenue: kr.372.7m (flat on 2Q 2020). Net income: kr.369.3m (up kr.325.6m from 2Q 2020). Profit margin: 99% (up from 12% in 2Q 2020). Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Reported Earnings • May 22
First quarter 2021 earnings released: EPS kr.9.49 (vs kr.0.36 loss in 1Q 2020) First quarter 2021 results: Revenue: kr.399.3m (up 9.2% from 1Q 2020). Net income: kr.525.7m (up kr.545.9m from 1Q 2020). Over the last 3 years on average, earnings per share has increased by 10% per year whereas the company’s share price has increased by 9% per year. Upcoming Dividend • Apr 13
Upcoming dividend of kr.2.40 per share Eligible shareholders must have bought the stock before 20 April 2021. Payment date: 22 April 2021. Trailing yield: 1.0%. Lower than top quartile of Danish dividend payers (3.7%). Lower than average of industry peers (3.1%). Reported Earnings • Feb 28
Full year 2020 earnings released: EPS kr.8.14 (vs kr.15.18 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: kr.1.53b (down 2.0% from FY 2019). Net income: kr.450.9m (down 46% from FY 2019). Profit margin: 29% (down from 54% in FY 2019). Over the last 3 years on average, earnings per share has remained flat but the company’s share price has increased by 15% per year, which means it is well ahead of earnings. Is New 90 Day High Low • Jan 18
New 90-day high: kr.260 The company is up 17% from its price of kr.222 on 20 October 2020. The Danish market is up 6.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Real Estate industry, which is up 11% over the same period. Reported Earnings • Nov 15
Third quarter 2020 earnings released: EPS kr.1.74 The company reported a decent third quarter result with improved earnings and profit margins, although revenues were flat. Third quarter 2020 results: Revenue: kr.411.3m (flat on 3Q 2019). Net income: kr.96.3m (up kr.317.9m from 3Q 2019). Profit margin: 23% (up from net loss in 3Q 2019). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has increased by 20% per year, which means it is well ahead of earnings. Is New 90 Day High Low • Nov 11
New 90-day high: kr.240 The company is up 2.0% from its price of kr.235 on 13 August 2020. The Danish market is up 5.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Real Estate industry, which is flat over the same period. Is New 90 Day High Low • Oct 21
New 90-day low: kr.220 The company is down 5.0% from its price of kr.232 on 23 July 2020. The Danish market is up 7.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Real Estate industry, which is down 3.0% over the same period. Is New 90 Day High Low • Sep 26
New 90-day low: kr.221 The company is down 12% from its price of kr.252 on 26 June 2020. The Danish market is up 7.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Real Estate industry, which is down 9.0% over the same period. 