VGP（VGP）株式概要VGP NVはその子会社とともに、物流・準工業用不動産および付帯オフィスの開発、所有、管理を行っている。 詳細VGP ファンダメンタル分析スノーフレーク・スコア評価4/6将来の成長2/6過去の実績2/6財務の健全性2/6配当金2/6報酬株価収益率（ 8.4 x） Belgian市場（ 14.1 x）を下回っています。収益は年間10.73%増加すると予測されています 過去1年間で収益は1.2%増加しました 同業他社や業界と比較して、良好な取引価格 アナリストらは、株価が22%上昇するだろうとほぼ一致している。 リスク分析負債は営業キャッシュフローで十分にカバーされていない Belgian市場と比較した過去 3 か月間の株価の変動財務結果に影響を与える大きな一時的項目 4.23%の配当はフリーキャッシュフローで十分にカバーされていない すべてのリスクチェックを見るVGP Community Fair Values Create NarrativeSee what 8 others think this stock is worth. Follow their fair value or set your own to get alerts.Analyst Price TargetsAN10.0% overvaluedAnalystLowTarget•5mo agoOnshoring And Aggressive Development Will Pressure Occupancy And Margins Over The Coming Years1500Top Analyst NarrativesVGPANAnalystLowTargetCommunity ContributorOnshoring And Aggressive Development Will Pressure Occupancy And Margins Over The Coming YearsCatalysts About VGP VGP develops, owns and operates logistics and industrial parks with integrated renewable energy solutions across Europe. What are the underlying business or industry changes driving this perspective?View narrative€73FV10.0% 割高 内在価値ディスカウント28.90%Revenue growth p.a.Set Fair ValueView15users have viewed this narrative0users have liked this narrative0users have commented on this narrative0users have followed this narrative5 months ago author updated this narrativeView all narrativesVGP NV 競合他社TexafSymbol: ENXTBR:TEXFMarket cap: €159.9mInclusioSymbol: ENXTBR:INCLUMarket cap: €131.7mBanimmoSymbol: ENXTBR:BANIMarket cap: €31.3mIep InvestSymbol: ENXTBR:IEPMarket cap: €44.5m価格と性能株価の高値、安値、推移の概要VGP過去の株価現在の株価€80.3052週高値€111.2052週安値€77.30ベータ1.441ヶ月の変化-13.00%3ヶ月変化-25.09%1年変化2.69%3年間の変化-13.14%5年間の変化-49.11%IPOからの変化414.74%最新ニュースMajor Estimate Revision • May 21Consensus EPS estimates increase by 13%The consensus outlook for fiscal year 2026 has been updated. 2026 EPS estimate increased from €10.33 to €11.62. Revenue forecast unchanged at €268.1m. Net income forecast to grow 24% next year vs 5.8% decline forecast for Real Estate industry in Belgium. Consensus price target down from €101 to €96.75. Share price was steady at €80.10 over the past week.Price Target Changed • May 13Price target decreased by 7.0% to €101Down from €108, the current price target is an average from 8 analysts. New target price is 25% above last closing price of €80.20. Stock is down 0.4% over the past year. The company is forecast to post earnings per share of €10.33 for next year compared to €10.64 last year.New Risk • May 11New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Belgian stocks, typically moving 6.1% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (2.2% operating cash flow to total debt). Minor Risks Dividend is not well covered by cash flows (182% cash payout ratio). Share price has been volatile over the past 3 months (6.1% average weekly change). Large one-off items impacting financial results.ライブニュース • May 10VGP Raises €250 Million to Accelerate Projects and Announces Dividend ApprovalVGP raised about €250 million through a private placement of 3,056,234 new shares, equal to roughly 11.20% of the share count after the deal. The company reported new and renewed leases year-to-date of €34.4 million, with an annualised committed lease amount of €486.4 million, 4% higher year-to-date and 12.6% higher year-over-year. Shareholders approved all items at the 8 May 2026 meetings, including a gross dividend of €3.4 per share for the 2025 financial year. For investors, the equity raise and trading update point in the same direction: VGP is putting fresh capital to work to support its development pipeline, while also reporting a higher level of contracted rent compared with both the start of the year and the prior year. The placement was targeted at international institutional investors, and the reference shareholder Jan Van Geet committed to a pro rata subscription, which can matter for confidence in the funding plan and for alignment with minority shareholders. The company highlights an 18.5% rental uplift on reletting vacant areas and references key projects across the Netherlands, Romania, Spain and Denmark that are expected to start in 2026. It is also preparing several joint venture closings in the second half of 2026 and plans to introduce a data centre segment, with details scheduled for its Capital Markets Day in September. The approval of a €3.4 per share dividend for the 2025 year adds a clearer picture of cash returns alongside its current growth-focused investment agenda.お知らせ • May 08VGP NV has filed a Follow-on Equity Offering in the amount of €250 million.VGP NV has filed a Follow-on Equity Offering in the amount of €250 million. Security Name: Ordinary Shares Security Type: Common Stock Transaction Features: Rule 144ADeclared Dividend • Apr 27Dividend of €2.38 announcedShareholders will receive a dividend of €2.38. Ex-date: 20th May 2026 Payment date: 22nd May 2026 Dividend yield will be 2.6%, which is lower than the industry average of 7.6%. Sustainability & Growth Dividend is covered by earnings (32% earnings payout ratio) but not covered by cash flows (182% cash payout ratio). The dividend has increased by an average of 7.5% per year over the past 8 years. However, payments have been volatile during that time. EPS is expected to grow by 33% over the next 3 years, which should provide support to the dividend and adequate earnings cover.最新情報をもっと見るRecent updatesMajor Estimate Revision • May 21Consensus EPS estimates increase by 13%The consensus outlook for fiscal year 2026 has been updated. 2026 EPS estimate increased from €10.33 to €11.62. Revenue forecast unchanged at €268.1m. Net income forecast to grow 24% next year vs 5.8% decline forecast for Real Estate industry in Belgium. Consensus price target down from €101 to €96.75. Share price was steady at €80.10 over the past week.Price Target Changed • May 13Price target decreased by 7.0% to €101Down from €108, the current price target is an average from 8 analysts. New target price is 25% above last closing price of €80.20. Stock is down 0.4% over the past year. The company is forecast to post earnings per share of €10.33 for next year compared to €10.64 last year.New Risk • May 11New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Belgian stocks, typically moving 6.1% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (2.2% operating cash flow to total debt). Minor Risks Dividend is not well covered by cash flows (182% cash payout ratio). Share price has been volatile over the past 3 months (6.1% average weekly change). Large one-off items impacting financial results.ライブニュース • May 10VGP Raises €250 Million to Accelerate Projects and Announces Dividend ApprovalVGP raised about €250 million through a private placement of 3,056,234 new shares, equal to roughly 11.20% of the share count after the deal. The company reported new and renewed leases year-to-date of €34.4 million, with an annualised committed lease amount of €486.4 million, 4% higher year-to-date and 12.6% higher year-over-year. Shareholders approved all items at the 8 May 2026 meetings, including a gross dividend of €3.4 per share for the 2025 financial year. For investors, the equity raise and trading update point in the same direction: VGP is putting fresh capital to work to support its development pipeline, while also reporting a higher level of contracted rent compared with both the start of the year and the prior year. The placement was targeted at international institutional investors, and the reference shareholder Jan Van Geet committed to a pro rata subscription, which can matter for confidence in the funding plan and for alignment with minority shareholders. The company highlights an 18.5% rental uplift on reletting vacant areas and references key projects across the Netherlands, Romania, Spain and Denmark that are expected to start in 2026. It is also preparing several joint venture closings in the second half of 2026 and plans to introduce a data centre segment, with details scheduled for its Capital Markets Day in September. The approval of a €3.4 per share dividend for the 2025 year adds a clearer picture of cash returns alongside its current growth-focused investment agenda.お知らせ • May 08VGP NV has filed a Follow-on Equity Offering in the amount of €250 million.VGP NV has filed a Follow-on Equity Offering in the amount of €250 million. Security Name: Ordinary Shares Security Type: Common Stock Transaction Features: Rule 144ADeclared Dividend • Apr 27Dividend of €2.38 announcedShareholders will receive a dividend of €2.38. Ex-date: 20th May 2026 Payment date: 22nd May 2026 Dividend yield will be 2.6%, which is lower than the industry average of 7.6%. Sustainability & Growth Dividend is covered by earnings (32% earnings payout ratio) but not covered by cash flows (182% cash payout ratio). The dividend has increased by an average of 7.5% per year over the past 8 years. However, payments have been volatile during that time. EPS is expected to grow by 33% over the next 3 years, which should provide support to the dividend and adequate earnings cover.お知らせ • Apr 10VGP NV, Annual General Meeting, May 08, 2026VGP NV, Annual General Meeting, May 08, 2026, at 07:00 Romance Standard Time. Location: at the mills, molenstraat 54, 2018 antwerp, BelgiumMajor Estimate Revision • Mar 10Consensus EPS estimates increase by 24%The consensus outlook for fiscal year 2026 has been updated. 2026 consensus EPS increased from €9.74 to €12.12. Revenues were reaffirmed at €270.6m. Net income forecast to shrink 8.4% next year vs 8.4% decline forecast for Real Estate industry in Belgium. Consensus price target of €109 unchanged from last update. Share price was steady at €98.40 over the past week.Major Estimate Revision • Feb 26Consensus EPS estimates fall by 26%, revenue upgradedThe consensus outlook for fiscal year 2026 has been updated. 2026 revenue forecast increased from €254.6m to €270.6m. EPS estimate fell from €13.25 to €9.74 per share. Net income forecast to shrink 8.4% next year vs 5.8% decline forecast for Real Estate industry in Belgium. Consensus price target broadly unchanged at €109. Share price was steady at €108 over the past week.Reported Earnings • Feb 20Full year 2025 earnings: Revenues exceed analysts expectations while EPS lags behindFull year 2025 results: EPS: €10.64 (up from €10.52 in FY 2024). Revenue: €192.0m (up 33% from FY 2024). Net income: €290.4m (up 1.2% from FY 2024). Revenue exceeded analyst estimates by 2.4%. Earnings per share (EPS) missed analyst estimates by 16%. Revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Real Estate industry in Belgium. Over the last 3 years on average, earnings per share has increased by 92% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth.お知らせ • Feb 20VGP NV Proposes Ordinary Dividend for the Year Ended December 31, 2025VGP NV's board of directors proposes an ordinary dividend of €92.8 million (+ 3% versus ordinary dividend of ‘24), or €3.40 per share for the year ended December 31, 2025.お知らせ • Nov 08VGP NV to Report Fiscal Year 2025 Results on Apr 08, 2026VGP NV announced that they will report fiscal year 2025 results at 9:00 AM, Central European Standard Time on Apr 08, 2026お知らせ • Nov 07+ 1 more updateVGP NV to Report First Half, 2026 Results on Aug 20, 2026VGP NV announced that they will report first half, 2026 results on Aug 20, 2026Major Estimate Revision • Sep 24Consensus EPS estimates fall by 11%The consensus outlook for fiscal year 2025 has been updated. 2025 EPS estimate fell from €11.99 to €10.72. Revenue forecast unchanged from €246.0m at last update. Net income forecast to shrink 14% next year vs 19% growth forecast for Real Estate industry in Belgium . Consensus price target up from €97.30 to €99.70. Share price was steady at €94.10 over the past week.分析記事 • Sep 01Solid Earnings May Not Tell The Whole Story For VGP (EBR:VGP)VGP NV's ( EBR:VGP ) healthy profit numbers didn't contain any surprises for investors. We believe that shareholders...Reported Earnings • Aug 25First half 2025 earnings released: EPS: €6.62 (vs €5.19 in 1H 2024)First half 2025 results: EPS: €6.62 (up from €5.19 in 1H 2024). Revenue: €105.5m (up 23% from 1H 2024). Net income: €180.5m (up 28% from 1H 2024). Revenue is forecast to grow 6.6% p.a. on average during the next 3 years, compared to a 5.8% growth forecast for the Real Estate industry in Belgium. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings.分析記事 • Aug 02Is Now An Opportune Moment To Examine VGP NV (EBR:VGP)?VGP NV ( EBR:VGP ), is not the largest company out there, but it saw a double-digit share price rise of over 10% in the...Declared Dividend • May 19Dividend of €2.31 announcedShareholders will receive a dividend of €2.31. Ex-date: 21st May 2025 Payment date: 23rd May 2025 Dividend yield will be 2.8%, which is lower than the industry average of 7.6%. Sustainability & Growth Dividend is covered by earnings (31% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 8.2% per year over the past 7 years. However, payments have been volatile during that time. EPS is expected to grow by 17% over the next 3 years, which should provide support to the dividend and adequate earnings cover.Reported Earnings • Apr 13Full year 2024 earnings: EPS and revenues exceed analyst expectationsFull year 2024 results: EPS: €10.52 (up from €3.20 in FY 2023). Revenue: €144.6m (down 1.2% from FY 2023). Net income: €287.0m (up 229% from FY 2023). Revenue exceeded analyst estimates by 31%. Earnings per share (EPS) also surpassed analyst estimates by 23%. Revenue is forecast to stay flat during the next 3 years compared to a 23% decline forecast for the Real Estate industry in Belgium. Over the last 3 years on average, earnings per share has fallen by 55% per year but the company’s share price has only fallen by 34% per year, which means it has not declined as severely as earnings.分析記事 • Mar 02We Believe VGP's (EBR:VGP) Earnings Are A Poor Guide For Its ProfitabilityEven though VGP NV ( EBR:VGP ) posted strong earnings recently, the stock hasn't reacted in a large way. We looked...Major Estimate Revision • Feb 27Consensus revenue estimates increase by 31%The consensus outlook for revenues in fiscal year 2025 has improved. 2025 revenue forecast increased from €177.2m to €231.3m. EPS estimate increased from €10.84 to €12.99 per share. Net income forecast to grow 36% next year vs 28% growth forecast for Real Estate industry in Belgium. Consensus price target broadly unchanged at €92.78. Share price rose 2.8% to €81.70 over the past week.分析記事 • Feb 27Analysts Just Made A Decent Upgrade To Their VGP NV (EBR:VGP) ForecastsVGP NV ( EBR:VGP ) shareholders will have a reason to smile today, with the analysts making substantial upgrades to...お知らせ • Feb 22VGP NV Proposes Dividend for Year Ended 31 of December 2024The board of directors of VGP NV proposed an ordinary dividend of €90 million (+ 12% versus ordinary dividend of ‘24), or €3.30 per share.Reported Earnings • Feb 21Full year 2024 earnings: EPS and revenues exceed analyst expectationsFull year 2024 results: EPS: €10.52 (up from €3.20 in FY 2023). Revenue: €106.4m (down 27% from FY 2023). Net income: €287.0m (up 229% from FY 2023). Revenue exceeded analyst estimates by 4.1%. Earnings per share (EPS) also surpassed analyst estimates by 23%. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 2.1% growth forecast for the Real Estate industry in Belgium. Over the last 3 years on average, earnings per share has fallen by 55% per year but the company’s share price has only fallen by 30% per year, which means it has not declined as severely as earnings.分析記事 • Jan 16Why VGP NV (EBR:VGP) Could Be Worth WatchingVGP NV ( EBR:VGP ), might not be a large cap stock, but it received a lot of attention from a substantial price...Buy Or Sell Opportunity • Jan 15Now 22% overvaluedOver the last 90 days, the stock has fallen 16% to €75.20. The fair value is estimated to be €61.46, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 48% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 1.2% per annum. Earnings are also forecast to grow by 6.7% per annum over the same time period.分析記事 • Dec 10VGP (EBR:VGP) Takes On Some Risk With Its Use Of DebtHoward Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of...お知らせ • Nov 11+ 2 more updatesVGP NV to Report First Half, 2025 Results on Aug 21, 2025VGP NV announced that they will report first half, 2025 results on Aug 21, 2025分析記事 • Nov 06Is VGP NV (EBR:VGP) Worth €76.4 Based On Its Intrinsic Value?Key Insights Using the Dividend Discount Model, VGP fair value estimate is €59.51 VGP is estimated to be 28% overvalued...Major Estimate Revision • Sep 09Consensus EPS estimates increase by 14%The consensus outlook for earnings per share (EPS) in fiscal year 2024 has improved. 2024 revenue forecast increased from €165.3m to €178.4m. EPS estimate increased from €8.10 to €9.25 per share. Net income forecast to grow 41% next year vs 42% growth forecast for Real Estate industry in Belgium. Consensus price target of €109 unchanged from last update. Share price was steady at €91.40 over the past week.分析記事 • Aug 31VGP's (EBR:VGP) Shareholders Should Assess Earnings With CautionWe didn't see VGP NV's ( EBR:VGP ) stock surge when it reported robust earnings recently. We looked deeper into the...Reported Earnings • Aug 26First half 2024 earnings released: EPS: €5.19 (vs €1.27 in 1H 2023)First half 2024 results: EPS: €5.19 (up from €1.27 in 1H 2023). Revenue: €85.6m (up 132% from 1H 2023). Net income: €141.5m (up 308% from 1H 2023). Revenue is forecast to grow 5.5% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Real Estate industry in Belgium. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 52 percentage points per year, which is a significant difference in performance.分析記事 • Aug 06Is It Too Late To Consider Buying VGP NV (EBR:VGP)?While VGP NV ( EBR:VGP ) might not have the largest market cap around , it saw significant share price movement during...分析記事 • Jun 28The VGP NV (EBR:VGP) Analysts Have Been Trimming Their Sales ForecastsMarket forces rained on the parade of VGP NV ( EBR:VGP ) shareholders today, when the analysts downgraded their...Major Estimate Revision • Jun 27Consensus revenue estimates fall by 14%The consensus outlook for revenues in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from €212.4m to €182.5m. EPS estimate fell from €8.95 to €8.22 per share. Net income forecast to grow 157% next year vs 38% growth forecast for Real Estate industry in Belgium. Consensus price target of €109 unchanged from last update. Share price was steady at €99.80 over the past week.Declared Dividend • May 16Dividend of €2.59 announcedShareholders will receive a dividend of €2.59. Ex-date: 22nd May 2024 Payment date: 24th May 2024 Dividend yield will be 2.3%, which is lower than the industry average of 7.6%. Sustainability & Growth Dividend is not adequately covered by earnings (92% earnings payout ratio) and the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 7.6% per year over the past 6 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 2.5% to bring the payout ratio under control. EPS is expected to grow by 145% over the next 3 years, which is sufficient to bring the dividend into a sustainable range.お知らせ • May 11VGP NV Approves Dividend for the Financial Year Ended 31 December 2023, Payable on May 24, 2024VGP NV held its Annual and Special Shareholders’ Meetings on May 10, 2024. The annual shareholder’s meeting approved the payment of a gross dividend for a total amount of €100,977,854.40 which corresponds to an amount of €3.70 per share in relation to the financial year ending 31 December 2023 and approved to delegate the determination of the payment date as well as all other formalities relating to the payment of the dividend to the board of directors. The dividend payable on May 24, 2024 to the shareholders recorded on May 23, 2024 and Ex-date dividend is May 22, 2024.分析記事 • Apr 12Is It Too Late To Consider Buying VGP NV (EBR:VGP)?VGP NV ( EBR:VGP ), is not the largest company out there, but it received a lot of attention from a substantial price...分析記事 • Mar 22Here's Why VGP (EBR:VGP) Has A Meaningful Debt BurdenDavid Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the...Reported Earnings • Feb 28Full year 2023 earnings: Revenues miss analyst expectationsFull year 2023 results: Revenue: €146.4m (up 10% from FY 2022). Net income: €87.3m (up €209.8m from FY 2022). Profit margin: 60% (up from net loss in FY 2022). Revenue missed analyst estimates by 31%. Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 25% growth forecast for the Real Estate industry in Belgium.お知らせ • Nov 17+ 3 more updatesVGP NV to Report Fiscal Year 2023 Final Results on Apr 09, 2024VGP NV announced that they will report fiscal year 2023 final results on Apr 09, 2024New Risk • Nov 14New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Belgian stocks, typically moving 5.1% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Minor Risks Share price has been volatile over the past 3 months (5.1% average weekly change). Shareholders have been diluted in the past year (25% increase in shares outstanding).分析記事 • Nov 12We Think VGP (EBR:VGP) Is Taking Some Risk With Its DebtHoward Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of...Price Target Changed • Nov 07Price target decreased by 13% to €96.71Down from €111, the current price target is an average from 7 analysts. New target price is 17% above last closing price of €82.45. Stock is up 9.9% over the past year. The company is forecast to post earnings per share of €2.82 next year compared to a net loss per share of €5.49 last year.Reported Earnings • Aug 27First half 2023 earnings released: EPS: €1.27 (vs €7.01 in 1H 2022)First half 2023 results: EPS: €1.27 (down from €7.01 in 1H 2022). Revenue: €37.0m (down 40% from 1H 2022). Net income: €34.7m (down 77% from 1H 2022). Profit margin: 94% (down from 248% in 1H 2022). Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 8.8% growth forecast for the Real Estate industry in Belgium. Over the last 3 years on average, earnings per share has fallen by 46% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings.Price Target Changed • Jul 25Price target increased by 8.1% to €105Up from €97.40, the current price target is an average from 7 analysts. New target price is 11% above last closing price of €94.50. Stock is down 42% over the past year. The company is forecast to post earnings per share of €7.74 next year compared to a net loss per share of €5.49 last year.分析記事 • Jul 06Need To Know: Analysts Are Much More Bullish On VGP NV (EBR:VGP) RevenuesVGP NV ( EBR:VGP ) shareholders will have a reason to smile today, with the analysts making substantial upgrades to...分析記事 • Jun 26These 4 Measures Indicate That VGP (EBR:VGP) Is Using Debt ExtensivelyLegendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...お知らせ • May 25VGP NV (ENXTBR:VGP) and Pimco Prime Real Estate agreed to acquire logistics portfolio of 11 buildings from VGP European Logistics 2 S.à r.l.VGP NV (ENXTBR:VGP) and Pimco Prime Real Estate agreed to acquire logistics portfolio of 11 buildings from VGP European Logistics 2 S.à r.l. on May 24, 2023. The transaction with VGP European Logistics 2 will be the 4th closing between VGP and this joint venture and amounts to a value of €253 million with gross proceeds of €197 million. The transaction, which is due to close in the first half of June.Upcoming Dividend • May 17Upcoming dividend of €1.93 per share at 3.0% yieldEligible shareholders must have bought the stock before 24 May 2023. Payment date: 26 May 2023. The company is not currently making a profit and is not cash flow positive. Trailing yield: 3.0%. Lower than top quartile of Belgian dividend payers (6.8%). Lower than average of industry peers (3.9%).お知らせ • May 13VGP NV Approves Gross Dividend in Relation to the Financial Year Ending 31 December 2022, Payable on May 26, 2023The Annual Shareholders’ Meeting of VGP NV approved the payment of a gross dividend for a total amount of EUR 75,051,108.00 which corresponds to a gross dividend of EUR 2.75 per share (EUR 1.925 net dividend per share) in relation to the financial year ending 31 December 2022 and approved the delegation of the determination of the payment date as well as all other formalities relating to the payment of the dividend to the Board of Directors. Ex-dividend date is 24 May 2023, Registration date is 25 May 2023, Dividend payment date is 26 May 2023.Reported Earnings • Apr 15Full year 2022 earnings: EPS and revenues miss analyst expectationsFull year 2022 results: €5.49 loss per share (down from €31.41 profit in FY 2021). Revenue: €133.0m (up 236% from FY 2021). Net loss: €122.5m (down 119% from profit in FY 2021). Revenue missed analyst estimates by 28%. Earnings per share (EPS) were also behind analyst expectations. Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 5.8% decline forecast for the Real Estate industry in Europe. Over the last 3 years on average, earnings per share has fallen by 1% per year whereas the company’s share price has fallen by 5% per year.分析記事 • Mar 22Is VGP NV (EBR:VGP) Trading At A 25% Discount?Key Insights The projected fair value for VGP is €108 based on 2 Stage Free Cash Flow to Equity VGP is estimated to be...Reported Earnings • Feb 28Full year 2022 earnings: EPS and revenues miss analyst expectationsFull year 2022 results: €5.49 loss per share (down from €31.41 profit in FY 2021). Revenue: €133.0m (up 241% from FY 2021). Net loss: €122.5m (down 119% from profit in FY 2021). Revenue missed analyst estimates by 28%. Earnings per share (EPS) were also behind analyst expectations. Revenue is forecast to grow 11% p.a. on average during the next 2 years, compared to a 1.2% decline forecast for the Real Estate industry in Europe. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has fallen by 8% per year, which means it is performing significantly worse than earnings.分析記事 • Feb 08Is Now An Opportune Moment To Examine VGP NV (EBR:VGP)?VGP NV ( EBR:VGP ), is not the largest company out there, but it saw a significant share price rise of over 20% in the...Price Target Changed • Jan 03Price target decreased to €91.10Down from €118, the current price target is an average from 6 analysts. New target price is 9.4% above last closing price of €83.30. Stock is down 66% over the past year. The company is forecast to post earnings per share of €15.14 for next year compared to €31.41 last year.お知らせ • Jan 03VGP Completes Latest Development at Nijmegen Logistics ParkVGP announced that it has completed its most recent development of VGP Park Nijmegen, and officially handed it over to its client. This project has circa 62,000 m² gross lettable area, of which circa 59,000 m2 of warehouse space and circa 3,000 m² of space for offices and a mezzanine. The total GLA of VGP Park Nijmegen is around 207,000 m2. Next to this, VGP has an additional land pipeline at the park of 28 ha for new developments. VGP Park Nijmegen, located on Park 15 in Oosterhout (Gld.) is a strategically situated location between the cities of Arnhem and Nijmegen, directly on the A15 motorway and close to the German border. Other major motorways, such as the A73 and A50, are nearby and transport by rail or over the river Waal is also possible due to proximity of BCTN Nijmegen terminal. VGP Park Nijmegen, named after the nearest large city for international recognition, is part of the development known as Bedrijvenpark Park 15 Logistics. The park is built to the latest sustainability standards. It accommodates a rooftop photovoltaic system with a capacity of 17.6 MWp. In addition, the location benefits from a water retention reservoir and other sustainability and biodiversity features in line with BREEAM quality certification. After launching VGP in the Benelux in 2018 with the first land acquisition for the Netherlands, VGP has already developed and delivered over 249,000 m2 GLA of warehouses and offices at their VGP Park Nijmegen (Oosterhout Gld.) and VGP Park Roosendaal. With another fully permitted development of circa 19,500 m2 GLA at VGP Park Nijmegen, a pre-let development of circa 9,250 m² GLA at VGP Park Roosendaal, as well as the upcoming XXL-developments at VGP Park Moerdijk, VGP is building tomorrow. VGP was advised by JLL for the lease agreement, and Willy Naessens Netherlands has constructed the project as general contractor.Board Change • Nov 16Insufficient new directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 2 highly experienced directors. Non Executive Independent Director Ann Gaeremynck was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model.Major Estimate Revision • Nov 10Consensus forecasts updatedThe consensus outlook for 2022 has been updated. 2022 revenue forecast increased from €80.2m to €102.9m. EPS estimate unchanged from €15.14 at last update. Real Estate industry in Belgium expected to see average net income decline 41% next year. Consensus price target of €118 unchanged from last update. Share price rose 2.6% to €74.30 over the past week.お知らせ • Nov 01+ 2 more updatesVGP NV to Report Fiscal Year 2022 Results on Feb 23, 2023VGP NV announced that they will report fiscal year 2022 results on Feb 23, 2023Major Estimate Revision • Oct 12Consensus forecasts updatedThe consensus outlook for 2022 has been updated. 2022 revenue forecast increased from €75.7m to €80.2m. EPS estimate fell from €21.72 to €15.14 per share. Net income forecast to shrink 45% next year vs 38% decline forecast for Real Estate industry in Belgium. Consensus price target down from €185 to €140. Share price fell 6.2% to €66.70 over the past week.Price Target Changed • Oct 07Price target decreased to €169Down from €185, the current price target is an average from 5 analysts. New target price is 146% above last closing price of €68.90. Stock is down 66% over the past year. The company is forecast to post earnings per share of €21.72 for next year compared to €31.41 last year.Valuation Update With 7 Day Price Move • Oct 07Investor sentiment deteriorated over the past weekAfter last week's 30% share price decline to €68.90, the stock trades at a forward P/E ratio of 4x. Average forward P/E is 9x in the Real Estate industry in Europe. Total loss to shareholders of 13% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €77.63 per share.分析記事 • Oct 07Is It Too Late To Consider Buying VGP NV (EBR:VGP)?While VGP NV ( EBR:VGP ) might not be the most widely known stock at the moment, it received a lot of attention from a...Valuation Update With 7 Day Price Move • Sep 22Investor sentiment deteriorated over the past weekAfter last week's 15% share price decline to €109, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 10x in the Real Estate industry in Europe. Total returns to shareholders of 38% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €78.49 per share.Major Estimate Revision • Sep 17Consensus forecasts updatedThe consensus outlook for 2022 has been updated. 2022 EPS estimate fell from €28.80 to €21.72. Revenue forecast unchanged from €75.7m at last update. Net income forecast to shrink 29% next year vs 39% decline forecast for Real Estate industry in Belgium. Consensus price target down from €208 to €192. Share price fell 6.3% to €128 over the past week.Price Target Changed • Sep 16Price target decreased to €192Down from €213, the current price target is an average from 3 analysts. New target price is 50% above last closing price of €128. Stock is down 37% over the past year. The company is forecast to post earnings per share of €28.80 for next year compared to €31.41 last year.Price Target Changed • Sep 01Price target decreased to €208Down from €228, the current price target is an average from 3 analysts. New target price is 51% above last closing price of €138. Stock is down 33% over the past year. The company is forecast to post earnings per share of €28.80 for next year compared to €31.41 last year.Reported Earnings • Aug 26First half 2022 earnings released: EPS: €7.01 (vs €9.90 in 1H 2021)First half 2022 results: EPS: €7.01 (down from €9.90 in 1H 2021). Revenue: €29.1m (up 83% from 1H 2021). Net income: €153.1m (down 25% from 1H 2021). Over the next year, revenue is forecast to grow 79% compared to a 7.4% decline forecast for the Real Estate industry in Belgium. Over the last 3 years on average, earnings per share has increased by 41% per year but the company’s share price has only increased by 23% per year, which means it is significantly lagging earnings growth.お知らせ • Aug 12VGP Announces Appointment of Kristoffer Kaae Stimpel as Country Manager of DenmarkVGP NV announced the appointment of Kristoffer Kaae Stimpel as Country Manager of Denmark, effective as of 1 August 2022. The opening of an office in Denmark, adjacent to the German market, is aligned with the Group’s strategic objective of realizing growth in Continental Europe. Prior to joining VGP, Kristoffer worked at LIDL where he was the Head of the Real Estate team with overall responsibility for the purchase and sale, the project development and planning of new stores and logistics centers. Kristoffer Kaae Stimpel disposes an in-depth knowledge of the Danish Real Estate Market and experience with both international transactions as well as advising national and international parties.Price Target Changed • Jul 04Price target decreased to €228Down from €250, the current price target is an average from 3 analysts. New target price is 54% above last closing price of €148. Stock is down 11% over the past year. The company is forecast to post earnings per share of €28.80 for next year compared to €31.41 last year.Board Change • Jun 02Insufficient new directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 2 highly experienced directors. Non Executive Independent Director Ann Gaeremynck was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model.Major Estimate Revision • May 24Consensus forecasts updatedThe consensus outlook for 2022 has been updated. 2022 consensus EPS increased from €25.74 to €29.06. Revenues were reaffirmed at €99.3m. Net income forecast to shrink 2.4% next year vs 24% decline forecast for Real Estate industry in Belgium. Consensus price target of €253 unchanged from last update. Share price fell 4.8% to €179 over the past week.Upcoming Dividend • May 17Upcoming dividend of €4.80 per shareEligible shareholders must have bought the stock before 24 May 2022. Payment date: 26 May 2022. Payout ratio is a comfortable 22% but the company is not cash flow positive. Trailing yield: 3.7%. Lower than top quartile of Belgian dividend payers (5.8%). In line with average of industry peers (3.6%).お知らせ • May 13Vgp Nv Proposes Distribution of Gross Dividend, Payable 25 May 2022On the 13th of May, the Board of Directors VGP NV will propose to the Annual Shareholders Meeting the distribution of a gross dividend of €6.85 per share corresponding to a total gross dividend amount of €149.6 million. It is expected that the payment date will be the 25th of May 2022 (to be confirmed by a separate press release after the AGM).Reported Earnings • Apr 16Full year 2021 earnings: EPS and revenues exceed analyst expectationsFull year 2021 results: EPS: €31.41 (up from €18.58 in FY 2020). Revenue: €39.0m (down 7.3% from FY 2020). Net income: €650.1m (up 75% from FY 2020). Revenue exceeded analyst estimates by 7.2%. Earnings per share (EPS) also surpassed analyst estimates by 31%. Over the next year, revenue is forecast to grow 155% compared to a 4.8% decline forecast for the industry in Belgium. Over the last 3 years on average, earnings per share has increased by 48% per year whereas the company’s share price has increased by 47% per year.Reported Earnings • Feb 28Full year 2021 earnings: EPS and revenues exceed analyst expectationsFull year 2021 results: EPS: €31.41 (up from €18.58 in FY 2020). Revenue: €225.6m (up 437% from FY 2020). Net income: €650.1m (up 75% from FY 2020). Revenue exceeded analyst estimates by 7.2%. Earnings per share (EPS) also surpassed analyst estimates by 87%. Over the next year, revenue is forecast to decline by -56% while the industry in Belgium is not expected to grow. Over the last 3 years on average, earnings per share has increased by 48% per year whereas the company’s share price has increased by 49% per year.お知らせ • Jan 31+ 1 more updateVGP NV Provides Earnings Guidance for the Full Year 2021VGP NV announced that, based on current preliminary unaudited consolidated financials, the Group expects a net profit for the full year 2021 of between €630 million and €650 million. This compares to a net profit of €371 million for full year 2020. All figures reported herein are preliminary and unaudited.Price Target Changed • Nov 26Price target increased to €238Up from €214, the current price target is an average from 3 analysts. New target price is approximately in line with last closing price of €240. Stock is up 101% over the past year. The company is forecast to post earnings per share of €19.66 for next year compared to €18.58 last year.Price Target Changed • Nov 19Price target increased to €229Up from €211, the current price target is an average from 3 analysts. New target price is 11% below last closing price of €258. Stock is up 102% over the past year. The company is forecast to post earnings per share of €16.42 for next year compared to €18.58 last year.Reported Earnings • Sep 02First half 2021 earnings released: EPS €9.90 (vs €10.19 in 1H 2020)First half 2021 results: Revenue: €15.9m (down 28% from 1H 2020). Net income: €203.8m (up 3.5% from 1H 2020). Over the last 3 years on average, earnings per share has increased by 45% per year whereas the company’s share price has increased by 47% per year.Price Target Changed • Sep 02Price target increased to €183Up from €171, the current price target is an average from 2 analysts. New target price is 12% below last closing price of €208. Stock is up 77% over the past year.Price Target Changed • Jun 12Price target increased to €171Up from €157, the current price target is an average from 2 analysts. New target price is approximately in line with last closing price of €166. Stock is up 47% over the past year.Upcoming Dividend • May 18Upcoming dividend of €2.56 per shareEligible shareholders must have bought the stock before 25 May 2021. Payment date: 27 May 2021. Trailing yield: 2.4%. Lower than top quartile of Belgian dividend payers (4.4%). Lower than average of industry peers (2.8%).お知らせ • May 15VGP NV Approves Dividend for the Financial Year Ended December 31, 2020, Payable on May 27, 2021VGP NV at its AGM held on May 14, 2021 approved the payment of a gross dividend for a total amount of EUR 75,128,132.50 which corresponds to a gross dividend of EUR 3.65 per share (EUR 2.555 net dividend per share) in relation to the financial year ending December 31, 2020 and approved the delegation of the determination of the payment date as well as all other formalities relating to the payment of the dividend to the Board of Directors. Dividend payment date is May 27, 2021. Ex-dividend date is May 25, 2021. Registration date is May 26, 2021.Upcoming Dividend • May 14Upcoming dividend of €2.56 per shareEligible shareholders must have bought the stock before 21 May 2021. Payment date: 25 May 2021. Trailing yield: 2.4%. Lower than top quartile of Belgian dividend payers (4.4%). Lower than average of industry peers (2.8%).Major Estimate Revision • Apr 26Consensus revenue estimates increase to €60.8mThe consensus outlook for revenues in 2021 has improved. 2021 revenue forecast increased from €48.1m to €60.8m. EPS estimate increased from €16.29 to €16.74 per share. Net income forecast to shrink 7.1% next year vs 46% growth forecast for Real Estate industry in Belgium . Consensus price target up from €144 to €157. Share price rose 3.7% to €144 over the past week.Reported Earnings • Apr 21Full year 2020 earnings released: EPS €18.58 (vs €11.07 in FY 2019)Full year 2020 results: Revenue: €42.0m (up 55% from FY 2019). Net income: €370.9m (up 80% from FY 2019). Over the last 3 years on average, earnings per share has increased by 49% per year but the company’s share price has only increased by 32% per year, which means it is significantly lagging earnings growth.株主還元VGPBE Real EstateBE 市場7D0.4%0.3%2.0%1Y2.7%2.4%22.6%株主還元を見る業界別リターン: VGP過去 1 年間で2.4 % のリターンをもたらしたBelgian Real Estate業界と一致しました。リターン対市場: VGPは、過去 1 年間で22.6 % のリターンを上げたBelgian市場を下回りました。価格変動Is VGP's price volatile compared to industry and market?VGP volatilityVGP Average Weekly Movement5.9%Real Estate Industry Average Movement3.8%Market Average Movement4.4%10% most volatile stocks in BE Market7.1%10% least volatile stocks in BE Market2.7%安定した株価: VGPの株価は、 Belgian市場と比較して過去 3 か月間で変動しています。時間の経過による変動: VGPの weekly volatility ( 6% ) は過去 1 年間安定していますが、依然としてBelgianの株式の 75% よりも高くなっています。会社概要設立従業員CEO（最高経営責任者ウェブサイト1998440Jan Van Geetwww.vgpparks.euVGP NVは、その子会社とともに、物流・準工業用不動産および付帯オフィスの開発、所有、管理を行っている。同社は、商品の保管、組立、再調整、最終処理などの物流部門のテナントに不動産を賃貸している。また、不動産管理サービス、企業管理、資金調達、事業計画、報告、予算、税務・法務管理、統制などに関連する資産管理サービス、プロジェクト管理サービス、施設管理・賃貸サービス、メンテナンス、廃棄物管理、緑化維持管理サービスなどの施設管理サービス、その他、屋根固定型ソーラーパネルによるグリーンエネルギー発電、スマートエネルギー管理、グリーン電力充電施設・インフラなどのサービスも提供している。ドイツ、オーストリア、オランダ、スペイン、ポルトガル、イタリア、チェコ共和国、スロバキア共和国、ハンガリー、ルーマニア、ラトビア、クロアチア、フランス、デンマーク、セルビア、スロバキア、英国で事業を展開している。VGP NVは1998年に設立され、ベルギーのアントワープに本社を置いている。もっと見るVGP NV 基礎のまとめVGP の収益と売上を時価総額と比較するとどうか。VGP 基礎統計学時価総額€2.44b収益（TTM）€290.44m売上高(TTM)€191.99m8.4xPER（株価収益率12.7xP/SレシオVGP は割高か？公正価値と評価分析を参照収益と収入最新の決算報告書（TTM）に基づく主な収益性統計VGP 損益計算書（TTM）収益€191.99m売上原価€9.94m売上総利益€182.05mその他の費用-€108.39m収益€290.44m直近の収益報告Dec 31, 2025次回決算日Aug 20, 2026一株当たり利益（EPS）9.57グロス・マージン94.82%純利益率151.28%有利子負債／自己資本比率90.7%VGP の長期的なパフォーマンスは？過去の実績と比較を見る配当金4.2%現在の配当利回り32%配当性向VGP 配当は確実ですか？VGP 配当履歴とベンチマークを見るVGP 、いつまでに購入すれば配当金を受け取れますか？VGP 配当日配当落ち日May 08 2026配当支払日May 22 2026配当落ちまでの日数16 days配当支払日までの日数2 daysVGP 配当は確実ですか？VGP 配当履歴とベンチマークを見るView Valuation企業分析と財務データの現状データ最終更新日（UTC時間）企業分析2026/05/22 15:19終値2026/05/22 00:00収益2025/12/31年間収益2025/12/31データソース企業分析に使用したデータはS&P Global Market Intelligence LLC のものです。本レポートを作成するための分析モデルでは、以下のデータを使用しています。データは正規化されているため、ソースが利用可能になるまでに時間がかかる場合があります。パッケージデータタイムフレーム米国ソース例会社財務10年損益計算書キャッシュ・フロー計算書貸借対照表SECフォーム10-KSECフォーム10-Qアナリストのコンセンサス予想+プラス3年予想財務アナリストの目標株価アナリストリサーチレポートBlue Matrix市場価格30年株価配当、分割、措置ICEマーケットデータSECフォームS-1所有権10年トップ株主インサイダー取引SECフォーム4SECフォーム13Dマネジメント10年リーダーシップ・チーム取締役会SECフォーム10-KSECフォームDEF 14A主な進展10年会社からのお知らせSECフォーム8-K* 米国証券を対象とした例であり、非米国証券については、同等の規制書式および情報源を使用。特に断りのない限り、すべての財務データは1年ごとの期間に基づいていますが、四半期ごとに更新されます。これは、TTM（Trailing Twelve Month）またはLTM（Last Twelve Month）データとして知られています。詳細はこちら。分析モデルとスノーフレーク本レポートを生成するために使用した分析モデルの詳細は当社のGithubページでご覧いただけます。また、レポートの使用方法に関するガイドやYoutubeのチュートリアルも掲載しています。シンプリー・ウォールストリート分析モデルを設計・構築した世界トップクラスのチームについてご紹介します。業界およびセクターの指標私たちの業界とセクションの指標は、Simply Wall Stによって6時間ごとに計算されます。アナリスト筋VGP NV 6 これらのアナリストのうち、弊社レポートのインプットとして使用した売上高または利益の予想を提出したのは、 。アナリストの投稿は一日中更新されます。15 アナリスト機関Paul MayBarclaysSander BunckBarclaysPaul MayBarclays12 その他のアナリストを表示
Major Estimate Revision • May 21Consensus EPS estimates increase by 13%The consensus outlook for fiscal year 2026 has been updated. 2026 EPS estimate increased from €10.33 to €11.62. Revenue forecast unchanged at €268.1m. Net income forecast to grow 24% next year vs 5.8% decline forecast for Real Estate industry in Belgium. Consensus price target down from €101 to €96.75. Share price was steady at €80.10 over the past week.
Price Target Changed • May 13Price target decreased by 7.0% to €101Down from €108, the current price target is an average from 8 analysts. New target price is 25% above last closing price of €80.20. Stock is down 0.4% over the past year. The company is forecast to post earnings per share of €10.33 for next year compared to €10.64 last year.
New Risk • May 11New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Belgian stocks, typically moving 6.1% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (2.2% operating cash flow to total debt). Minor Risks Dividend is not well covered by cash flows (182% cash payout ratio). Share price has been volatile over the past 3 months (6.1% average weekly change). Large one-off items impacting financial results.
ライブニュース • May 10VGP Raises €250 Million to Accelerate Projects and Announces Dividend ApprovalVGP raised about €250 million through a private placement of 3,056,234 new shares, equal to roughly 11.20% of the share count after the deal. The company reported new and renewed leases year-to-date of €34.4 million, with an annualised committed lease amount of €486.4 million, 4% higher year-to-date and 12.6% higher year-over-year. Shareholders approved all items at the 8 May 2026 meetings, including a gross dividend of €3.4 per share for the 2025 financial year. For investors, the equity raise and trading update point in the same direction: VGP is putting fresh capital to work to support its development pipeline, while also reporting a higher level of contracted rent compared with both the start of the year and the prior year. The placement was targeted at international institutional investors, and the reference shareholder Jan Van Geet committed to a pro rata subscription, which can matter for confidence in the funding plan and for alignment with minority shareholders. The company highlights an 18.5% rental uplift on reletting vacant areas and references key projects across the Netherlands, Romania, Spain and Denmark that are expected to start in 2026. It is also preparing several joint venture closings in the second half of 2026 and plans to introduce a data centre segment, with details scheduled for its Capital Markets Day in September. The approval of a €3.4 per share dividend for the 2025 year adds a clearer picture of cash returns alongside its current growth-focused investment agenda.
お知らせ • May 08VGP NV has filed a Follow-on Equity Offering in the amount of €250 million.VGP NV has filed a Follow-on Equity Offering in the amount of €250 million. Security Name: Ordinary Shares Security Type: Common Stock Transaction Features: Rule 144A
Declared Dividend • Apr 27Dividend of €2.38 announcedShareholders will receive a dividend of €2.38. Ex-date: 20th May 2026 Payment date: 22nd May 2026 Dividend yield will be 2.6%, which is lower than the industry average of 7.6%. Sustainability & Growth Dividend is covered by earnings (32% earnings payout ratio) but not covered by cash flows (182% cash payout ratio). The dividend has increased by an average of 7.5% per year over the past 8 years. However, payments have been volatile during that time. EPS is expected to grow by 33% over the next 3 years, which should provide support to the dividend and adequate earnings cover.
Major Estimate Revision • May 21Consensus EPS estimates increase by 13%The consensus outlook for fiscal year 2026 has been updated. 2026 EPS estimate increased from €10.33 to €11.62. Revenue forecast unchanged at €268.1m. Net income forecast to grow 24% next year vs 5.8% decline forecast for Real Estate industry in Belgium. Consensus price target down from €101 to €96.75. Share price was steady at €80.10 over the past week.
Price Target Changed • May 13Price target decreased by 7.0% to €101Down from €108, the current price target is an average from 8 analysts. New target price is 25% above last closing price of €80.20. Stock is down 0.4% over the past year. The company is forecast to post earnings per share of €10.33 for next year compared to €10.64 last year.
New Risk • May 11New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Belgian stocks, typically moving 6.1% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (2.2% operating cash flow to total debt). Minor Risks Dividend is not well covered by cash flows (182% cash payout ratio). Share price has been volatile over the past 3 months (6.1% average weekly change). Large one-off items impacting financial results.
ライブニュース • May 10VGP Raises €250 Million to Accelerate Projects and Announces Dividend ApprovalVGP raised about €250 million through a private placement of 3,056,234 new shares, equal to roughly 11.20% of the share count after the deal. The company reported new and renewed leases year-to-date of €34.4 million, with an annualised committed lease amount of €486.4 million, 4% higher year-to-date and 12.6% higher year-over-year. Shareholders approved all items at the 8 May 2026 meetings, including a gross dividend of €3.4 per share for the 2025 financial year. For investors, the equity raise and trading update point in the same direction: VGP is putting fresh capital to work to support its development pipeline, while also reporting a higher level of contracted rent compared with both the start of the year and the prior year. The placement was targeted at international institutional investors, and the reference shareholder Jan Van Geet committed to a pro rata subscription, which can matter for confidence in the funding plan and for alignment with minority shareholders. The company highlights an 18.5% rental uplift on reletting vacant areas and references key projects across the Netherlands, Romania, Spain and Denmark that are expected to start in 2026. It is also preparing several joint venture closings in the second half of 2026 and plans to introduce a data centre segment, with details scheduled for its Capital Markets Day in September. The approval of a €3.4 per share dividend for the 2025 year adds a clearer picture of cash returns alongside its current growth-focused investment agenda.
お知らせ • May 08VGP NV has filed a Follow-on Equity Offering in the amount of €250 million.VGP NV has filed a Follow-on Equity Offering in the amount of €250 million. Security Name: Ordinary Shares Security Type: Common Stock Transaction Features: Rule 144A
Declared Dividend • Apr 27Dividend of €2.38 announcedShareholders will receive a dividend of €2.38. Ex-date: 20th May 2026 Payment date: 22nd May 2026 Dividend yield will be 2.6%, which is lower than the industry average of 7.6%. Sustainability & Growth Dividend is covered by earnings (32% earnings payout ratio) but not covered by cash flows (182% cash payout ratio). The dividend has increased by an average of 7.5% per year over the past 8 years. However, payments have been volatile during that time. EPS is expected to grow by 33% over the next 3 years, which should provide support to the dividend and adequate earnings cover.
お知らせ • Apr 10VGP NV, Annual General Meeting, May 08, 2026VGP NV, Annual General Meeting, May 08, 2026, at 07:00 Romance Standard Time. Location: at the mills, molenstraat 54, 2018 antwerp, Belgium
Major Estimate Revision • Mar 10Consensus EPS estimates increase by 24%The consensus outlook for fiscal year 2026 has been updated. 2026 consensus EPS increased from €9.74 to €12.12. Revenues were reaffirmed at €270.6m. Net income forecast to shrink 8.4% next year vs 8.4% decline forecast for Real Estate industry in Belgium. Consensus price target of €109 unchanged from last update. Share price was steady at €98.40 over the past week.
Major Estimate Revision • Feb 26Consensus EPS estimates fall by 26%, revenue upgradedThe consensus outlook for fiscal year 2026 has been updated. 2026 revenue forecast increased from €254.6m to €270.6m. EPS estimate fell from €13.25 to €9.74 per share. Net income forecast to shrink 8.4% next year vs 5.8% decline forecast for Real Estate industry in Belgium. Consensus price target broadly unchanged at €109. Share price was steady at €108 over the past week.
Reported Earnings • Feb 20Full year 2025 earnings: Revenues exceed analysts expectations while EPS lags behindFull year 2025 results: EPS: €10.64 (up from €10.52 in FY 2024). Revenue: €192.0m (up 33% from FY 2024). Net income: €290.4m (up 1.2% from FY 2024). Revenue exceeded analyst estimates by 2.4%. Earnings per share (EPS) missed analyst estimates by 16%. Revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Real Estate industry in Belgium. Over the last 3 years on average, earnings per share has increased by 92% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth.
お知らせ • Feb 20VGP NV Proposes Ordinary Dividend for the Year Ended December 31, 2025VGP NV's board of directors proposes an ordinary dividend of €92.8 million (+ 3% versus ordinary dividend of ‘24), or €3.40 per share for the year ended December 31, 2025.
お知らせ • Nov 08VGP NV to Report Fiscal Year 2025 Results on Apr 08, 2026VGP NV announced that they will report fiscal year 2025 results at 9:00 AM, Central European Standard Time on Apr 08, 2026
お知らせ • Nov 07+ 1 more updateVGP NV to Report First Half, 2026 Results on Aug 20, 2026VGP NV announced that they will report first half, 2026 results on Aug 20, 2026
Major Estimate Revision • Sep 24Consensus EPS estimates fall by 11%The consensus outlook for fiscal year 2025 has been updated. 2025 EPS estimate fell from €11.99 to €10.72. Revenue forecast unchanged from €246.0m at last update. Net income forecast to shrink 14% next year vs 19% growth forecast for Real Estate industry in Belgium . Consensus price target up from €97.30 to €99.70. Share price was steady at €94.10 over the past week.
分析記事 • Sep 01Solid Earnings May Not Tell The Whole Story For VGP (EBR:VGP)VGP NV's ( EBR:VGP ) healthy profit numbers didn't contain any surprises for investors. We believe that shareholders...
Reported Earnings • Aug 25First half 2025 earnings released: EPS: €6.62 (vs €5.19 in 1H 2024)First half 2025 results: EPS: €6.62 (up from €5.19 in 1H 2024). Revenue: €105.5m (up 23% from 1H 2024). Net income: €180.5m (up 28% from 1H 2024). Revenue is forecast to grow 6.6% p.a. on average during the next 3 years, compared to a 5.8% growth forecast for the Real Estate industry in Belgium. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings.
分析記事 • Aug 02Is Now An Opportune Moment To Examine VGP NV (EBR:VGP)?VGP NV ( EBR:VGP ), is not the largest company out there, but it saw a double-digit share price rise of over 10% in the...
Declared Dividend • May 19Dividend of €2.31 announcedShareholders will receive a dividend of €2.31. Ex-date: 21st May 2025 Payment date: 23rd May 2025 Dividend yield will be 2.8%, which is lower than the industry average of 7.6%. Sustainability & Growth Dividend is covered by earnings (31% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 8.2% per year over the past 7 years. However, payments have been volatile during that time. EPS is expected to grow by 17% over the next 3 years, which should provide support to the dividend and adequate earnings cover.
Reported Earnings • Apr 13Full year 2024 earnings: EPS and revenues exceed analyst expectationsFull year 2024 results: EPS: €10.52 (up from €3.20 in FY 2023). Revenue: €144.6m (down 1.2% from FY 2023). Net income: €287.0m (up 229% from FY 2023). Revenue exceeded analyst estimates by 31%. Earnings per share (EPS) also surpassed analyst estimates by 23%. Revenue is forecast to stay flat during the next 3 years compared to a 23% decline forecast for the Real Estate industry in Belgium. Over the last 3 years on average, earnings per share has fallen by 55% per year but the company’s share price has only fallen by 34% per year, which means it has not declined as severely as earnings.
分析記事 • Mar 02We Believe VGP's (EBR:VGP) Earnings Are A Poor Guide For Its ProfitabilityEven though VGP NV ( EBR:VGP ) posted strong earnings recently, the stock hasn't reacted in a large way. We looked...
Major Estimate Revision • Feb 27Consensus revenue estimates increase by 31%The consensus outlook for revenues in fiscal year 2025 has improved. 2025 revenue forecast increased from €177.2m to €231.3m. EPS estimate increased from €10.84 to €12.99 per share. Net income forecast to grow 36% next year vs 28% growth forecast for Real Estate industry in Belgium. Consensus price target broadly unchanged at €92.78. Share price rose 2.8% to €81.70 over the past week.
分析記事 • Feb 27Analysts Just Made A Decent Upgrade To Their VGP NV (EBR:VGP) ForecastsVGP NV ( EBR:VGP ) shareholders will have a reason to smile today, with the analysts making substantial upgrades to...
お知らせ • Feb 22VGP NV Proposes Dividend for Year Ended 31 of December 2024The board of directors of VGP NV proposed an ordinary dividend of €90 million (+ 12% versus ordinary dividend of ‘24), or €3.30 per share.
Reported Earnings • Feb 21Full year 2024 earnings: EPS and revenues exceed analyst expectationsFull year 2024 results: EPS: €10.52 (up from €3.20 in FY 2023). Revenue: €106.4m (down 27% from FY 2023). Net income: €287.0m (up 229% from FY 2023). Revenue exceeded analyst estimates by 4.1%. Earnings per share (EPS) also surpassed analyst estimates by 23%. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 2.1% growth forecast for the Real Estate industry in Belgium. Over the last 3 years on average, earnings per share has fallen by 55% per year but the company’s share price has only fallen by 30% per year, which means it has not declined as severely as earnings.
分析記事 • Jan 16Why VGP NV (EBR:VGP) Could Be Worth WatchingVGP NV ( EBR:VGP ), might not be a large cap stock, but it received a lot of attention from a substantial price...
Buy Or Sell Opportunity • Jan 15Now 22% overvaluedOver the last 90 days, the stock has fallen 16% to €75.20. The fair value is estimated to be €61.46, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 48% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 1.2% per annum. Earnings are also forecast to grow by 6.7% per annum over the same time period.
分析記事 • Dec 10VGP (EBR:VGP) Takes On Some Risk With Its Use Of DebtHoward Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of...
お知らせ • Nov 11+ 2 more updatesVGP NV to Report First Half, 2025 Results on Aug 21, 2025VGP NV announced that they will report first half, 2025 results on Aug 21, 2025
分析記事 • Nov 06Is VGP NV (EBR:VGP) Worth €76.4 Based On Its Intrinsic Value?Key Insights Using the Dividend Discount Model, VGP fair value estimate is €59.51 VGP is estimated to be 28% overvalued...
Major Estimate Revision • Sep 09Consensus EPS estimates increase by 14%The consensus outlook for earnings per share (EPS) in fiscal year 2024 has improved. 2024 revenue forecast increased from €165.3m to €178.4m. EPS estimate increased from €8.10 to €9.25 per share. Net income forecast to grow 41% next year vs 42% growth forecast for Real Estate industry in Belgium. Consensus price target of €109 unchanged from last update. Share price was steady at €91.40 over the past week.
分析記事 • Aug 31VGP's (EBR:VGP) Shareholders Should Assess Earnings With CautionWe didn't see VGP NV's ( EBR:VGP ) stock surge when it reported robust earnings recently. We looked deeper into the...
Reported Earnings • Aug 26First half 2024 earnings released: EPS: €5.19 (vs €1.27 in 1H 2023)First half 2024 results: EPS: €5.19 (up from €1.27 in 1H 2023). Revenue: €85.6m (up 132% from 1H 2023). Net income: €141.5m (up 308% from 1H 2023). Revenue is forecast to grow 5.5% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Real Estate industry in Belgium. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 52 percentage points per year, which is a significant difference in performance.
分析記事 • Aug 06Is It Too Late To Consider Buying VGP NV (EBR:VGP)?While VGP NV ( EBR:VGP ) might not have the largest market cap around , it saw significant share price movement during...
分析記事 • Jun 28The VGP NV (EBR:VGP) Analysts Have Been Trimming Their Sales ForecastsMarket forces rained on the parade of VGP NV ( EBR:VGP ) shareholders today, when the analysts downgraded their...
Major Estimate Revision • Jun 27Consensus revenue estimates fall by 14%The consensus outlook for revenues in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from €212.4m to €182.5m. EPS estimate fell from €8.95 to €8.22 per share. Net income forecast to grow 157% next year vs 38% growth forecast for Real Estate industry in Belgium. Consensus price target of €109 unchanged from last update. Share price was steady at €99.80 over the past week.
Declared Dividend • May 16Dividend of €2.59 announcedShareholders will receive a dividend of €2.59. Ex-date: 22nd May 2024 Payment date: 24th May 2024 Dividend yield will be 2.3%, which is lower than the industry average of 7.6%. Sustainability & Growth Dividend is not adequately covered by earnings (92% earnings payout ratio) and the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 7.6% per year over the past 6 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 2.5% to bring the payout ratio under control. EPS is expected to grow by 145% over the next 3 years, which is sufficient to bring the dividend into a sustainable range.
お知らせ • May 11VGP NV Approves Dividend for the Financial Year Ended 31 December 2023, Payable on May 24, 2024VGP NV held its Annual and Special Shareholders’ Meetings on May 10, 2024. The annual shareholder’s meeting approved the payment of a gross dividend for a total amount of €100,977,854.40 which corresponds to an amount of €3.70 per share in relation to the financial year ending 31 December 2023 and approved to delegate the determination of the payment date as well as all other formalities relating to the payment of the dividend to the board of directors. The dividend payable on May 24, 2024 to the shareholders recorded on May 23, 2024 and Ex-date dividend is May 22, 2024.
分析記事 • Apr 12Is It Too Late To Consider Buying VGP NV (EBR:VGP)?VGP NV ( EBR:VGP ), is not the largest company out there, but it received a lot of attention from a substantial price...
分析記事 • Mar 22Here's Why VGP (EBR:VGP) Has A Meaningful Debt BurdenDavid Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the...
Reported Earnings • Feb 28Full year 2023 earnings: Revenues miss analyst expectationsFull year 2023 results: Revenue: €146.4m (up 10% from FY 2022). Net income: €87.3m (up €209.8m from FY 2022). Profit margin: 60% (up from net loss in FY 2022). Revenue missed analyst estimates by 31%. Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 25% growth forecast for the Real Estate industry in Belgium.
お知らせ • Nov 17+ 3 more updatesVGP NV to Report Fiscal Year 2023 Final Results on Apr 09, 2024VGP NV announced that they will report fiscal year 2023 final results on Apr 09, 2024
New Risk • Nov 14New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Belgian stocks, typically moving 5.1% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Minor Risks Share price has been volatile over the past 3 months (5.1% average weekly change). Shareholders have been diluted in the past year (25% increase in shares outstanding).
分析記事 • Nov 12We Think VGP (EBR:VGP) Is Taking Some Risk With Its DebtHoward Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of...
Price Target Changed • Nov 07Price target decreased by 13% to €96.71Down from €111, the current price target is an average from 7 analysts. New target price is 17% above last closing price of €82.45. Stock is up 9.9% over the past year. The company is forecast to post earnings per share of €2.82 next year compared to a net loss per share of €5.49 last year.
Reported Earnings • Aug 27First half 2023 earnings released: EPS: €1.27 (vs €7.01 in 1H 2022)First half 2023 results: EPS: €1.27 (down from €7.01 in 1H 2022). Revenue: €37.0m (down 40% from 1H 2022). Net income: €34.7m (down 77% from 1H 2022). Profit margin: 94% (down from 248% in 1H 2022). Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 8.8% growth forecast for the Real Estate industry in Belgium. Over the last 3 years on average, earnings per share has fallen by 46% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings.
Price Target Changed • Jul 25Price target increased by 8.1% to €105Up from €97.40, the current price target is an average from 7 analysts. New target price is 11% above last closing price of €94.50. Stock is down 42% over the past year. The company is forecast to post earnings per share of €7.74 next year compared to a net loss per share of €5.49 last year.
分析記事 • Jul 06Need To Know: Analysts Are Much More Bullish On VGP NV (EBR:VGP) RevenuesVGP NV ( EBR:VGP ) shareholders will have a reason to smile today, with the analysts making substantial upgrades to...
分析記事 • Jun 26These 4 Measures Indicate That VGP (EBR:VGP) Is Using Debt ExtensivelyLegendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...
お知らせ • May 25VGP NV (ENXTBR:VGP) and Pimco Prime Real Estate agreed to acquire logistics portfolio of 11 buildings from VGP European Logistics 2 S.à r.l.VGP NV (ENXTBR:VGP) and Pimco Prime Real Estate agreed to acquire logistics portfolio of 11 buildings from VGP European Logistics 2 S.à r.l. on May 24, 2023. The transaction with VGP European Logistics 2 will be the 4th closing between VGP and this joint venture and amounts to a value of €253 million with gross proceeds of €197 million. The transaction, which is due to close in the first half of June.
Upcoming Dividend • May 17Upcoming dividend of €1.93 per share at 3.0% yieldEligible shareholders must have bought the stock before 24 May 2023. Payment date: 26 May 2023. The company is not currently making a profit and is not cash flow positive. Trailing yield: 3.0%. Lower than top quartile of Belgian dividend payers (6.8%). Lower than average of industry peers (3.9%).
お知らせ • May 13VGP NV Approves Gross Dividend in Relation to the Financial Year Ending 31 December 2022, Payable on May 26, 2023The Annual Shareholders’ Meeting of VGP NV approved the payment of a gross dividend for a total amount of EUR 75,051,108.00 which corresponds to a gross dividend of EUR 2.75 per share (EUR 1.925 net dividend per share) in relation to the financial year ending 31 December 2022 and approved the delegation of the determination of the payment date as well as all other formalities relating to the payment of the dividend to the Board of Directors. Ex-dividend date is 24 May 2023, Registration date is 25 May 2023, Dividend payment date is 26 May 2023.
Reported Earnings • Apr 15Full year 2022 earnings: EPS and revenues miss analyst expectationsFull year 2022 results: €5.49 loss per share (down from €31.41 profit in FY 2021). Revenue: €133.0m (up 236% from FY 2021). Net loss: €122.5m (down 119% from profit in FY 2021). Revenue missed analyst estimates by 28%. Earnings per share (EPS) were also behind analyst expectations. Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 5.8% decline forecast for the Real Estate industry in Europe. Over the last 3 years on average, earnings per share has fallen by 1% per year whereas the company’s share price has fallen by 5% per year.
分析記事 • Mar 22Is VGP NV (EBR:VGP) Trading At A 25% Discount?Key Insights The projected fair value for VGP is €108 based on 2 Stage Free Cash Flow to Equity VGP is estimated to be...
Reported Earnings • Feb 28Full year 2022 earnings: EPS and revenues miss analyst expectationsFull year 2022 results: €5.49 loss per share (down from €31.41 profit in FY 2021). Revenue: €133.0m (up 241% from FY 2021). Net loss: €122.5m (down 119% from profit in FY 2021). Revenue missed analyst estimates by 28%. Earnings per share (EPS) were also behind analyst expectations. Revenue is forecast to grow 11% p.a. on average during the next 2 years, compared to a 1.2% decline forecast for the Real Estate industry in Europe. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has fallen by 8% per year, which means it is performing significantly worse than earnings.
分析記事 • Feb 08Is Now An Opportune Moment To Examine VGP NV (EBR:VGP)?VGP NV ( EBR:VGP ), is not the largest company out there, but it saw a significant share price rise of over 20% in the...
Price Target Changed • Jan 03Price target decreased to €91.10Down from €118, the current price target is an average from 6 analysts. New target price is 9.4% above last closing price of €83.30. Stock is down 66% over the past year. The company is forecast to post earnings per share of €15.14 for next year compared to €31.41 last year.
お知らせ • Jan 03VGP Completes Latest Development at Nijmegen Logistics ParkVGP announced that it has completed its most recent development of VGP Park Nijmegen, and officially handed it over to its client. This project has circa 62,000 m² gross lettable area, of which circa 59,000 m2 of warehouse space and circa 3,000 m² of space for offices and a mezzanine. The total GLA of VGP Park Nijmegen is around 207,000 m2. Next to this, VGP has an additional land pipeline at the park of 28 ha for new developments. VGP Park Nijmegen, located on Park 15 in Oosterhout (Gld.) is a strategically situated location between the cities of Arnhem and Nijmegen, directly on the A15 motorway and close to the German border. Other major motorways, such as the A73 and A50, are nearby and transport by rail or over the river Waal is also possible due to proximity of BCTN Nijmegen terminal. VGP Park Nijmegen, named after the nearest large city for international recognition, is part of the development known as Bedrijvenpark Park 15 Logistics. The park is built to the latest sustainability standards. It accommodates a rooftop photovoltaic system with a capacity of 17.6 MWp. In addition, the location benefits from a water retention reservoir and other sustainability and biodiversity features in line with BREEAM quality certification. After launching VGP in the Benelux in 2018 with the first land acquisition for the Netherlands, VGP has already developed and delivered over 249,000 m2 GLA of warehouses and offices at their VGP Park Nijmegen (Oosterhout Gld.) and VGP Park Roosendaal. With another fully permitted development of circa 19,500 m2 GLA at VGP Park Nijmegen, a pre-let development of circa 9,250 m² GLA at VGP Park Roosendaal, as well as the upcoming XXL-developments at VGP Park Moerdijk, VGP is building tomorrow. VGP was advised by JLL for the lease agreement, and Willy Naessens Netherlands has constructed the project as general contractor.
Board Change • Nov 16Insufficient new directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 2 highly experienced directors. Non Executive Independent Director Ann Gaeremynck was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model.
Major Estimate Revision • Nov 10Consensus forecasts updatedThe consensus outlook for 2022 has been updated. 2022 revenue forecast increased from €80.2m to €102.9m. EPS estimate unchanged from €15.14 at last update. Real Estate industry in Belgium expected to see average net income decline 41% next year. Consensus price target of €118 unchanged from last update. Share price rose 2.6% to €74.30 over the past week.
お知らせ • Nov 01+ 2 more updatesVGP NV to Report Fiscal Year 2022 Results on Feb 23, 2023VGP NV announced that they will report fiscal year 2022 results on Feb 23, 2023
Major Estimate Revision • Oct 12Consensus forecasts updatedThe consensus outlook for 2022 has been updated. 2022 revenue forecast increased from €75.7m to €80.2m. EPS estimate fell from €21.72 to €15.14 per share. Net income forecast to shrink 45% next year vs 38% decline forecast for Real Estate industry in Belgium. Consensus price target down from €185 to €140. Share price fell 6.2% to €66.70 over the past week.
Price Target Changed • Oct 07Price target decreased to €169Down from €185, the current price target is an average from 5 analysts. New target price is 146% above last closing price of €68.90. Stock is down 66% over the past year. The company is forecast to post earnings per share of €21.72 for next year compared to €31.41 last year.
Valuation Update With 7 Day Price Move • Oct 07Investor sentiment deteriorated over the past weekAfter last week's 30% share price decline to €68.90, the stock trades at a forward P/E ratio of 4x. Average forward P/E is 9x in the Real Estate industry in Europe. Total loss to shareholders of 13% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €77.63 per share.
分析記事 • Oct 07Is It Too Late To Consider Buying VGP NV (EBR:VGP)?While VGP NV ( EBR:VGP ) might not be the most widely known stock at the moment, it received a lot of attention from a...
Valuation Update With 7 Day Price Move • Sep 22Investor sentiment deteriorated over the past weekAfter last week's 15% share price decline to €109, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 10x in the Real Estate industry in Europe. Total returns to shareholders of 38% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €78.49 per share.
Major Estimate Revision • Sep 17Consensus forecasts updatedThe consensus outlook for 2022 has been updated. 2022 EPS estimate fell from €28.80 to €21.72. Revenue forecast unchanged from €75.7m at last update. Net income forecast to shrink 29% next year vs 39% decline forecast for Real Estate industry in Belgium. Consensus price target down from €208 to €192. Share price fell 6.3% to €128 over the past week.
Price Target Changed • Sep 16Price target decreased to €192Down from €213, the current price target is an average from 3 analysts. New target price is 50% above last closing price of €128. Stock is down 37% over the past year. The company is forecast to post earnings per share of €28.80 for next year compared to €31.41 last year.
Price Target Changed • Sep 01Price target decreased to €208Down from €228, the current price target is an average from 3 analysts. New target price is 51% above last closing price of €138. Stock is down 33% over the past year. The company is forecast to post earnings per share of €28.80 for next year compared to €31.41 last year.
Reported Earnings • Aug 26First half 2022 earnings released: EPS: €7.01 (vs €9.90 in 1H 2021)First half 2022 results: EPS: €7.01 (down from €9.90 in 1H 2021). Revenue: €29.1m (up 83% from 1H 2021). Net income: €153.1m (down 25% from 1H 2021). Over the next year, revenue is forecast to grow 79% compared to a 7.4% decline forecast for the Real Estate industry in Belgium. Over the last 3 years on average, earnings per share has increased by 41% per year but the company’s share price has only increased by 23% per year, which means it is significantly lagging earnings growth.
お知らせ • Aug 12VGP Announces Appointment of Kristoffer Kaae Stimpel as Country Manager of DenmarkVGP NV announced the appointment of Kristoffer Kaae Stimpel as Country Manager of Denmark, effective as of 1 August 2022. The opening of an office in Denmark, adjacent to the German market, is aligned with the Group’s strategic objective of realizing growth in Continental Europe. Prior to joining VGP, Kristoffer worked at LIDL where he was the Head of the Real Estate team with overall responsibility for the purchase and sale, the project development and planning of new stores and logistics centers. Kristoffer Kaae Stimpel disposes an in-depth knowledge of the Danish Real Estate Market and experience with both international transactions as well as advising national and international parties.
Price Target Changed • Jul 04Price target decreased to €228Down from €250, the current price target is an average from 3 analysts. New target price is 54% above last closing price of €148. Stock is down 11% over the past year. The company is forecast to post earnings per share of €28.80 for next year compared to €31.41 last year.
Board Change • Jun 02Insufficient new directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 2 highly experienced directors. Non Executive Independent Director Ann Gaeremynck was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model.
Major Estimate Revision • May 24Consensus forecasts updatedThe consensus outlook for 2022 has been updated. 2022 consensus EPS increased from €25.74 to €29.06. Revenues were reaffirmed at €99.3m. Net income forecast to shrink 2.4% next year vs 24% decline forecast for Real Estate industry in Belgium. Consensus price target of €253 unchanged from last update. Share price fell 4.8% to €179 over the past week.
Upcoming Dividend • May 17Upcoming dividend of €4.80 per shareEligible shareholders must have bought the stock before 24 May 2022. Payment date: 26 May 2022. Payout ratio is a comfortable 22% but the company is not cash flow positive. Trailing yield: 3.7%. Lower than top quartile of Belgian dividend payers (5.8%). In line with average of industry peers (3.6%).
お知らせ • May 13Vgp Nv Proposes Distribution of Gross Dividend, Payable 25 May 2022On the 13th of May, the Board of Directors VGP NV will propose to the Annual Shareholders Meeting the distribution of a gross dividend of €6.85 per share corresponding to a total gross dividend amount of €149.6 million. It is expected that the payment date will be the 25th of May 2022 (to be confirmed by a separate press release after the AGM).
Reported Earnings • Apr 16Full year 2021 earnings: EPS and revenues exceed analyst expectationsFull year 2021 results: EPS: €31.41 (up from €18.58 in FY 2020). Revenue: €39.0m (down 7.3% from FY 2020). Net income: €650.1m (up 75% from FY 2020). Revenue exceeded analyst estimates by 7.2%. Earnings per share (EPS) also surpassed analyst estimates by 31%. Over the next year, revenue is forecast to grow 155% compared to a 4.8% decline forecast for the industry in Belgium. Over the last 3 years on average, earnings per share has increased by 48% per year whereas the company’s share price has increased by 47% per year.
Reported Earnings • Feb 28Full year 2021 earnings: EPS and revenues exceed analyst expectationsFull year 2021 results: EPS: €31.41 (up from €18.58 in FY 2020). Revenue: €225.6m (up 437% from FY 2020). Net income: €650.1m (up 75% from FY 2020). Revenue exceeded analyst estimates by 7.2%. Earnings per share (EPS) also surpassed analyst estimates by 87%. Over the next year, revenue is forecast to decline by -56% while the industry in Belgium is not expected to grow. Over the last 3 years on average, earnings per share has increased by 48% per year whereas the company’s share price has increased by 49% per year.
お知らせ • Jan 31+ 1 more updateVGP NV Provides Earnings Guidance for the Full Year 2021VGP NV announced that, based on current preliminary unaudited consolidated financials, the Group expects a net profit for the full year 2021 of between €630 million and €650 million. This compares to a net profit of €371 million for full year 2020. All figures reported herein are preliminary and unaudited.
Price Target Changed • Nov 26Price target increased to €238Up from €214, the current price target is an average from 3 analysts. New target price is approximately in line with last closing price of €240. Stock is up 101% over the past year. The company is forecast to post earnings per share of €19.66 for next year compared to €18.58 last year.
Price Target Changed • Nov 19Price target increased to €229Up from €211, the current price target is an average from 3 analysts. New target price is 11% below last closing price of €258. Stock is up 102% over the past year. The company is forecast to post earnings per share of €16.42 for next year compared to €18.58 last year.
Reported Earnings • Sep 02First half 2021 earnings released: EPS €9.90 (vs €10.19 in 1H 2020)First half 2021 results: Revenue: €15.9m (down 28% from 1H 2020). Net income: €203.8m (up 3.5% from 1H 2020). Over the last 3 years on average, earnings per share has increased by 45% per year whereas the company’s share price has increased by 47% per year.
Price Target Changed • Sep 02Price target increased to €183Up from €171, the current price target is an average from 2 analysts. New target price is 12% below last closing price of €208. Stock is up 77% over the past year.
Price Target Changed • Jun 12Price target increased to €171Up from €157, the current price target is an average from 2 analysts. New target price is approximately in line with last closing price of €166. Stock is up 47% over the past year.
Upcoming Dividend • May 18Upcoming dividend of €2.56 per shareEligible shareholders must have bought the stock before 25 May 2021. Payment date: 27 May 2021. Trailing yield: 2.4%. Lower than top quartile of Belgian dividend payers (4.4%). Lower than average of industry peers (2.8%).
お知らせ • May 15VGP NV Approves Dividend for the Financial Year Ended December 31, 2020, Payable on May 27, 2021VGP NV at its AGM held on May 14, 2021 approved the payment of a gross dividend for a total amount of EUR 75,128,132.50 which corresponds to a gross dividend of EUR 3.65 per share (EUR 2.555 net dividend per share) in relation to the financial year ending December 31, 2020 and approved the delegation of the determination of the payment date as well as all other formalities relating to the payment of the dividend to the Board of Directors. Dividend payment date is May 27, 2021. Ex-dividend date is May 25, 2021. Registration date is May 26, 2021.
Upcoming Dividend • May 14Upcoming dividend of €2.56 per shareEligible shareholders must have bought the stock before 21 May 2021. Payment date: 25 May 2021. Trailing yield: 2.4%. Lower than top quartile of Belgian dividend payers (4.4%). Lower than average of industry peers (2.8%).
Major Estimate Revision • Apr 26Consensus revenue estimates increase to €60.8mThe consensus outlook for revenues in 2021 has improved. 2021 revenue forecast increased from €48.1m to €60.8m. EPS estimate increased from €16.29 to €16.74 per share. Net income forecast to shrink 7.1% next year vs 46% growth forecast for Real Estate industry in Belgium . Consensus price target up from €144 to €157. Share price rose 3.7% to €144 over the past week.
Reported Earnings • Apr 21Full year 2020 earnings released: EPS €18.58 (vs €11.07 in FY 2019)Full year 2020 results: Revenue: €42.0m (up 55% from FY 2019). Net income: €370.9m (up 80% from FY 2019). Over the last 3 years on average, earnings per share has increased by 49% per year but the company’s share price has only increased by 32% per year, which means it is significantly lagging earnings growth.
