View ValuationVicinity Centres 将来の成長Future 基準チェック /06Vicinity Centresの収益と利益は、それぞれ年間4.1%と15.6%減少すると予測されています。EPS は年間13.1%で 減少すると予想されています。自己資本利益率は 3 年後に6.2%になると予測されています。主要情報-15.6%収益成長率-13.14%EPS成長率Retail REITs 収益成長7.2%収益成長率-4.1%将来の株主資本利益率6.15%アナリストカバレッジGood最終更新日18 May 2026今後の成長に関する最新情報更新なしすべての更新を表示Recent updatesBoard Change • 3hInsufficient new directorsThere is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 4 experienced directors. 4 highly experienced directors. Non-Executive Director Angus McNaughton was the last director to join the board, commencing their role in 2024. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model.お知らせ • Feb 18Vicinity Centres Announces Actual Ordinary Distribution for the Six Months Period Ended December 31, 2025, Payable on March 12, 2026Vicinity Centres Announced actual, ordinary distribution of AUD 0.06200000 per share for the six months period ended December 31, 2025, payable on March 12, 2026. Record date is on February 24, 2026 with Ex date is on February 23, 2026.お知らせ • Oct 02Vicinity Centres to Report Fiscal Year 2026 Results on Aug 19, 2026Vicinity Centres announced that they will report fiscal year 2026 results on Aug 19, 2026お知らせ • Aug 22+ 1 more updateVicinity Centres Announces Retirement of Michael Hawker Am from BoardVicinity Centres announced that Michael Hawker AM intends to retire from Vicinity's Board, comprising the Boards of Vicinity Limited and Vicinity Centres RE Ltd. as responsible entity of Vicinity Centres Trust, with effect from 31 August 2025. Mr. Hawker has been a Non-Executive Director at Vicinity since his election by Securityholders in November 2022. During this time, Mr. Hawker served as a member of the Audit Committee and the Risk, Compliance & ESG Committee, and formerly the Remuneration & Human Resources Committee.お知らせ • Aug 21Vicinity Centres, Annual General Meeting, Nov 06, 2025Vicinity Centres, Annual General Meeting, Nov 06, 2025.お知らせ • Aug 20Vicinity Centres to Report First Half, 2026 Results on Feb 18, 2026Vicinity Centres announced that they will report first half, 2026 results on Feb 18, 2026お知らせ • Oct 16Vicinity Centres to Report Fiscal Year 2025 Results on Aug 20, 2025Vicinity Centres announced that they will report fiscal year 2025 results on Aug 20, 2025お知らせ • Sep 11Vicinity Centres Announces Retirement of Clive Appleton from the Board, Effective 29 October 2024Vicinity Centres announced the retirement of Mr. Clive Appleton from the Vicinity Board, having served as a representative of Gandel Group since 2018. Mr. Appleton's retirement from the Board will take effect from the conclusion of the AGM to be held on 29 October 2024.Declared Dividend • Aug 22Final dividend of AU$0.059 announcedShareholders will receive a dividend of AU$0.059. Ex-date: 23rd August 2024 Payment date: 16th September 2024 Dividend yield will be 7.4%, which is higher than the industry average of 5.6%.お知らせ • Aug 22+ 1 more updateVicinity Centres Declares Distribution for the Six-Month Ended June 30, 2024, Payable on September 16, 2024Vicinity Centres Declares Distribution of AUD 0.05900000 for the Six-Month Ended June 30, 2024, Payable on September 16, 2024. Ex date is August 23, 2024. Record date is August 26, 2024.Reported Earnings • Aug 20Full year 2024 earnings released: EPS: AU$0.12 (vs AU$0.06 in FY 2023)Full year 2024 results: EPS: AU$0.12 (up from AU$0.06 in FY 2023). Revenue: AU$1.33b (up 7.8% from FY 2023). Net income: AU$547.1m (up 101% from FY 2023). Profit margin: 41% (up from 22% in FY 2023). The increase in margin was primarily driven by lower expenses. Revenue is expected to fall by 6.2% p.a. on average during the next 3 years compared to a 3.3% decline forecast for the Retail REITs industry in Europe. 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 8% per year, which means it is well ahead of earnings.お知らせ • Apr 24Vicinity Centres to Report First Half, 2025 Results on Feb 18, 2025Vicinity Centres announced that they will report first half, 2025 results on Feb 18, 2025Declared Dividend • Feb 18First half dividend of AU$0.059 announcedShareholders will receive a dividend of AU$0.059. Ex-date: 20th February 2024 Payment date: 7th March 2024 Dividend yield will be 7.9%, which is higher than the industry average of 5.6%.お知らせ • Nov 01Vicinity Centres, Annual General Meeting, Oct 29, 2024Vicinity Centres, Annual General Meeting, Oct 29, 2024.お知らせ • Sep 27Vicinity Centres to Report Fiscal Year 2024 Results on Aug 20, 2024Vicinity Centres announced that they will report fiscal year 2024 results on Aug 20, 2024New Risk • Aug 17New minor risk - Profit margin trendThe company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 22% Last year net profit margin: 101% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (22% net profit margin).Reported Earnings • Aug 17Full year 2023 earnings released: FFO per share: AU$0.1 (vs AU$0.13 in FY 2022)Full year 2023 results: FFO per share: AU$0.1 (up from AU$0.13 in FY 2022). Revenue: AU$1.23b (up 2.7% from FY 2022). Funds from operations (FFO): AU$684.8m (up 14% from FY 2022). FFO margin: 56% (up from 50% in FY 2022). Revenue is expected to fall by 5.1% p.a. on average during the next 3 years compared to a 5.0% decline forecast for the Retail REITs industry in Europe. Over the last 3 years on average, earnings per share has increased by 105% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth.お知らせ • Aug 16Vicinity Centres to Report First Half, 2024 Results on Feb 15, 2024Vicinity Centres announced that they will report first half, 2024 results on Feb 15, 2024お知らせ • Jun 02Nikos Property Group Pty Ltd. agreed to acquire 50% stake in Broadmeadows Central from Vicinity Centres (ASX:VCX) for approximately AUD 130 million.Nikos Property Group Pty Ltd. agreed to acquire 50% stake in Broadmeadows Central from Vicinity Centres (ASX:VCX) for approximately AUD 130 million on June 1, 2023. Vicinity will continue to provide centre management and leasing services at Broadmeadows Central. The sale is expected to settle on 30 June 2023.Buying Opportunity • Mar 11Now 20% undervaluedThe stock has been flat over the last 90 days. The fair value is estimated to be €1.56, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 82%. For the next 3 years, revenue is forecast to grow by 0.9% per annum. Earnings is also forecast to grow by 5.0% per annum over the same time period.Board Change • Mar 01High number of new directorsThere are 5 new directors who have joined the board in the last 3 years. MD, CEO & Director Peter Huddle was the last director to join the board, commencing their role in 2023. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model.Reported Earnings • Feb 16First half 2023 earnings released: FFO per share: AU$0.08 (vs AU$0.063 in 1H 2022)First half 2023 results: FFO per share: AU$0.08 (up from AU$0.063 in 1H 2022). Revenue: AU$628.2m (up 4.9% from 1H 2022). Funds from operations (FFO): AU$357.1m (up 24% from 1H 2022). FFO margin: 57% (up from 48% in 1H 2022). Revenue is forecast to stay flat during the next 3 years compared to a 4.1% growth forecast for the REITs industry in Europe. Over the last 3 years on average, earnings per share has increased by 82% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings.お知らせ • Feb 15Vicinity Centres Announces Dividend on VCX- Fully Paid Ordinary/Units Stapled Securities for the Financial Reporting or Payment Period Ended 31 December 2022, Payable on March 7, 2023Vicinity Centres announced dividend of AUD 0.05750000 per security on VCX - Fully Paid Ordinary/Units Stapled Securities for the financial reporting or payment period ended 31 December 2022. Ex date on February 20, 2023. Record date on February 21, 2023. Payment date on March 7, 2023.お知らせ • Feb 09Vicinity Centres, Annual General Meeting, Nov 01, 2023Vicinity Centres, Annual General Meeting, Nov 01, 2023.お知らせ • Feb 03Vicinity Centres Appoints Peter Charles Huddle to the BoardVicinity Centres appointed Peter Charles Huddle to the board. Date of appointment: 1 February 2023.お知らせ • Feb 01Vicinity Centres to Report Fiscal Year 2023 Results on Aug 16, 2023Vicinity Centres announced that they will report fiscal year 2023 results on Aug 16, 2023お知らせ • Jan 31+ 1 more updateVicinity Centres Appoints Peter Huddle as Managing Director, Effective 1 February 2023Vicinity Centres announced the appointment of Mr. Peter Huddle as Managing Director following the completion of a global search. Mr. Huddle's appointment is effective on 1 February 2023. Mr. Huddle, who has been Acting Chief Executive Officer for Vicinity since 16 November 2022, joined the Company as Chief Operating Officer (`COO') in March 2019, reporting to the CEO. Since joining Vicinity, Mr. Huddle has brought his strategic vision and global experience in creating market leading, retail-led destinations. Importantly, Mr. Huddle has been instrumental in building organizational capability and a cohesive, integrated and customer-focused Operations team, comprising Property Management, Leasing, Operations, Development, and Marketing. As COO throughout the pandemic, Mr. Huddle was instrumental in leading Vicinity's operational response, and at the same time, ensuring the Company was well positioned to recover and deliver its long-term growth priorities. Prior to joining Vicinity, Mr. Huddle had a long and distinguished career at Westfield in a variety of leadership roles in Australia, Brazil, and the US. Notably, Mr. Huddle had management responsibility for some of the world's preeminent retail and mixed-use development projects including Westfield World Trade Centre in New York and Century City in Los Angeles. Following the acquisition of Westfield by Unibail-Rodamco in June 2018, which formed the largest global retail REIT, Mr. Huddle was appointed COO of the US business. In this role, Mr. Huddle led all real estate activities including Development, Design, Construction, Management, Leasing, and Asset Management. He was also a member of the URW Global Management Board.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. 6 experienced directors. 1 highly experienced director. Non-Executive Director Clive Appleton was the last director to join the board, commencing their role in 2018. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model.お知らせ • Oct 28Vicinity Centres to Report Q2, 2023 Results on Feb 14, 2023Vicinity Centres announced that they will report Q2, 2023 results on Feb 14, 2023Reported Earnings • Aug 18Full year 2022 earnings released: FFO per share: AU$0.1 (vs AU$0.12 in FY 2021)Full year 2022 results: FFO per share: AU$0.1 (up from AU$0.12 in FY 2021). Revenue: AU$1.20b (up 5.6% from FY 2021). Funds from operations (FFO): AU$598.3m (up 7.1% from FY 2021). FFO margin: 50% (in line with FY 2021). Over the next year, revenue is forecast to decline by 26% while the REITs industry in Germany is not expected to grow. Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings.Board Change • Apr 27Insufficient new directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 7 experienced directors. 1 highly experienced director. Non-Executive Director Clive Appleton was the last director to join the board, commencing their role in 2018. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model.Board Change • Mar 16Insufficient new directorsThere is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 7 experienced directors. 1 highly experienced director. Non Executive Director Mark Bloom was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model.Board Change • Dec 06Insufficient new directorsThere is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 7 experienced directors. 1 highly experienced director. Non Executive Director Mark Bloom was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model.Reported Earnings • Aug 21Full year 2021 earnings released: FFO AU$0.12 per share (vs AU$0.14 in FY 2020)The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: AU$1.14b (up 3.9% from FY 2020). Funds from operations (FFO): AU$558.8m (up 7.4% from FY 2020). FFO margin: 49% (up from 48% in FY 2020). Net asset value (NAV) per share: €1.32 (down 6.9% from FY 2020). The current share price is 28% lower than NAV per share. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 82 percentage points per year, which is a significant difference in performance.Executive Departure • Jul 14Chief Financial Officer Nicholas Schiffer has left the companyOn the 1st of July, Nicholas Schiffer's tenure as Chief Financial Officer ended after 1.8 years in the role. We don't have any record of a personal shareholding under Nicholas' name. Nicholas is the only executive to leave the company over the last 12 months. The current median tenure of the management team is 2.50 years.Upcoming Dividend • Dec 23Upcoming Dividend of AU$0.034 Per ShareWill be paid on the 2nd of March to those who are registered shareholders by the 30th of December. The company last paid an ordinary dividend in December 2019. The average dividend yield among industry peers is 4.9%.Is New 90 Day High Low • Dec 08New 90-day high: €1.05The company is up 27% from its price of €0.83 on 09 September 2020. The German market is up 3.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the REITs industry, which is down 7.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €1.50 per share.Is New 90 Day High Low • Oct 30New 90-day low: €0.73The company is down 6.0% from its price of €0.77 on 31 July 2020. The German market is down 4.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the REITs industry, which is down 8.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €1.60 per share.業績と収益の成長予測DB:C98 - アナリストの将来予測と過去の財務データ ( )AUD Millions日付収益収益フリー・キャッシュフロー営業活動によるキャッシュ平均アナリスト数6/30/20281,12381365278756/30/20271,05680261473866/30/2026985982575673612/31/20251,3881,318657661N/A9/30/20251,3841,161651656N/A6/30/20251,3801,005645651N/A3/31/20251,376910656662N/A12/31/20241,372816668673N/A9/30/20241,342682679682N/A6/30/20241,312547690690N/A3/31/20241,278433697697N/A12/31/20231,245319704704N/A9/30/20231,238295704705N/A6/30/20231,231272705706N/A3/31/20231,229506693694N/A12/31/20221,228741680682N/A9/30/20221,213978634636N/A6/30/20221,1981,215588590N/A3/31/20221,1911,001583585N/A12/31/20211,183786578580N/A9/30/20211,159264612613N/A6/30/20211,135-258646647N/A3/31/20211,071-1,348549550N/A12/31/20201,007-2,438452453N/A9/30/20201,049-2,119462463N/A6/30/20201,092-1,801471472N/A3/31/20201,179-724559560N/A12/31/20191,266354646648N/A9/30/20191,286350N/A655N/A6/30/20191,306346N/A662N/A3/31/20191,337522N/A688N/A12/31/20181,369698N/A713N/A9/30/20181,365958N/A710N/A6/30/20181,3621,219N/A706N/A3/31/20181,3561,325N/A712N/A12/31/20171,3491,431N/A718N/A9/30/20171,3401,507N/A725N/A6/30/20171,3301,584N/A731N/A3/31/20171,3201,514N/A727N/A12/31/20161,3111,445N/A722N/A9/30/20161,3231,203N/A732N/A6/30/20161,336961N/A742N/A3/31/20161,235824N/A663N/A12/31/20151,134687N/A584N/A9/30/20151,001681N/A501N/A6/30/2015869675N/A418N/Aもっと見るアナリストによる今後の成長予測収入対貯蓄率: C98の収益は今後 3 年間で減少すると予測されています (年間-15.6% )。収益対市場: C98の収益は今後 3 年間で減少すると予測されています (年間-15.6% )。高成長収益: C98の収益は今後 3 年間で減少すると予測されています。収益対市場: C98の収益は今後 3 年間で減少すると予想されています (年間-4.1% )。高い収益成長: C98の収益は今後 3 年間で減少すると予測されています (年間-4.1% )。一株当たり利益成長率予想将来の株主資本利益率将来のROE: C98の 自己資本利益率 は、3年後には低くなると予測されています ( 6.2 %)。成長企業の発掘7D1Y7D1Y7D1YReal-estate 業界の高成長企業。View Past Performance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2026/05/20 01:41終値2026/05/20 00:00収益2025/12/31年間収益2025/06/30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Vicinity Centres 12 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。25 アナリスト機関Nicholas McGarrigleBarrenjoey Markets Pty LimitedBenjamin BrayshawBarrenjoey Markets Pty LimitedSimon GaringBell Potter22 その他のアナリストを表示
Board Change • 3hInsufficient new directorsThere is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 4 experienced directors. 4 highly experienced directors. Non-Executive Director Angus McNaughton was the last director to join the board, commencing their role in 2024. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model.
お知らせ • Feb 18Vicinity Centres Announces Actual Ordinary Distribution for the Six Months Period Ended December 31, 2025, Payable on March 12, 2026Vicinity Centres Announced actual, ordinary distribution of AUD 0.06200000 per share for the six months period ended December 31, 2025, payable on March 12, 2026. Record date is on February 24, 2026 with Ex date is on February 23, 2026.
お知らせ • Oct 02Vicinity Centres to Report Fiscal Year 2026 Results on Aug 19, 2026Vicinity Centres announced that they will report fiscal year 2026 results on Aug 19, 2026
お知らせ • Aug 22+ 1 more updateVicinity Centres Announces Retirement of Michael Hawker Am from BoardVicinity Centres announced that Michael Hawker AM intends to retire from Vicinity's Board, comprising the Boards of Vicinity Limited and Vicinity Centres RE Ltd. as responsible entity of Vicinity Centres Trust, with effect from 31 August 2025. Mr. Hawker has been a Non-Executive Director at Vicinity since his election by Securityholders in November 2022. During this time, Mr. Hawker served as a member of the Audit Committee and the Risk, Compliance & ESG Committee, and formerly the Remuneration & Human Resources Committee.
お知らせ • Aug 21Vicinity Centres, Annual General Meeting, Nov 06, 2025Vicinity Centres, Annual General Meeting, Nov 06, 2025.
お知らせ • Aug 20Vicinity Centres to Report First Half, 2026 Results on Feb 18, 2026Vicinity Centres announced that they will report first half, 2026 results on Feb 18, 2026
お知らせ • Oct 16Vicinity Centres to Report Fiscal Year 2025 Results on Aug 20, 2025Vicinity Centres announced that they will report fiscal year 2025 results on Aug 20, 2025
お知らせ • Sep 11Vicinity Centres Announces Retirement of Clive Appleton from the Board, Effective 29 October 2024Vicinity Centres announced the retirement of Mr. Clive Appleton from the Vicinity Board, having served as a representative of Gandel Group since 2018. Mr. Appleton's retirement from the Board will take effect from the conclusion of the AGM to be held on 29 October 2024.
Declared Dividend • Aug 22Final dividend of AU$0.059 announcedShareholders will receive a dividend of AU$0.059. Ex-date: 23rd August 2024 Payment date: 16th September 2024 Dividend yield will be 7.4%, which is higher than the industry average of 5.6%.
お知らせ • Aug 22+ 1 more updateVicinity Centres Declares Distribution for the Six-Month Ended June 30, 2024, Payable on September 16, 2024Vicinity Centres Declares Distribution of AUD 0.05900000 for the Six-Month Ended June 30, 2024, Payable on September 16, 2024. Ex date is August 23, 2024. Record date is August 26, 2024.
Reported Earnings • Aug 20Full year 2024 earnings released: EPS: AU$0.12 (vs AU$0.06 in FY 2023)Full year 2024 results: EPS: AU$0.12 (up from AU$0.06 in FY 2023). Revenue: AU$1.33b (up 7.8% from FY 2023). Net income: AU$547.1m (up 101% from FY 2023). Profit margin: 41% (up from 22% in FY 2023). The increase in margin was primarily driven by lower expenses. Revenue is expected to fall by 6.2% p.a. on average during the next 3 years compared to a 3.3% decline forecast for the Retail REITs industry in Europe. 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 8% per year, which means it is well ahead of earnings.
お知らせ • Apr 24Vicinity Centres to Report First Half, 2025 Results on Feb 18, 2025Vicinity Centres announced that they will report first half, 2025 results on Feb 18, 2025
Declared Dividend • Feb 18First half dividend of AU$0.059 announcedShareholders will receive a dividend of AU$0.059. Ex-date: 20th February 2024 Payment date: 7th March 2024 Dividend yield will be 7.9%, which is higher than the industry average of 5.6%.
お知らせ • Nov 01Vicinity Centres, Annual General Meeting, Oct 29, 2024Vicinity Centres, Annual General Meeting, Oct 29, 2024.
お知らせ • Sep 27Vicinity Centres to Report Fiscal Year 2024 Results on Aug 20, 2024Vicinity Centres announced that they will report fiscal year 2024 results on Aug 20, 2024
New Risk • Aug 17New minor risk - Profit margin trendThe company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 22% Last year net profit margin: 101% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (22% net profit margin).
Reported Earnings • Aug 17Full year 2023 earnings released: FFO per share: AU$0.1 (vs AU$0.13 in FY 2022)Full year 2023 results: FFO per share: AU$0.1 (up from AU$0.13 in FY 2022). Revenue: AU$1.23b (up 2.7% from FY 2022). Funds from operations (FFO): AU$684.8m (up 14% from FY 2022). FFO margin: 56% (up from 50% in FY 2022). Revenue is expected to fall by 5.1% p.a. on average during the next 3 years compared to a 5.0% decline forecast for the Retail REITs industry in Europe. Over the last 3 years on average, earnings per share has increased by 105% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth.
お知らせ • Aug 16Vicinity Centres to Report First Half, 2024 Results on Feb 15, 2024Vicinity Centres announced that they will report first half, 2024 results on Feb 15, 2024
お知らせ • Jun 02Nikos Property Group Pty Ltd. agreed to acquire 50% stake in Broadmeadows Central from Vicinity Centres (ASX:VCX) for approximately AUD 130 million.Nikos Property Group Pty Ltd. agreed to acquire 50% stake in Broadmeadows Central from Vicinity Centres (ASX:VCX) for approximately AUD 130 million on June 1, 2023. Vicinity will continue to provide centre management and leasing services at Broadmeadows Central. The sale is expected to settle on 30 June 2023.
Buying Opportunity • Mar 11Now 20% undervaluedThe stock has been flat over the last 90 days. The fair value is estimated to be €1.56, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 82%. For the next 3 years, revenue is forecast to grow by 0.9% per annum. Earnings is also forecast to grow by 5.0% per annum over the same time period.
Board Change • Mar 01High number of new directorsThere are 5 new directors who have joined the board in the last 3 years. MD, CEO & Director Peter Huddle was the last director to join the board, commencing their role in 2023. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model.
Reported Earnings • Feb 16First half 2023 earnings released: FFO per share: AU$0.08 (vs AU$0.063 in 1H 2022)First half 2023 results: FFO per share: AU$0.08 (up from AU$0.063 in 1H 2022). Revenue: AU$628.2m (up 4.9% from 1H 2022). Funds from operations (FFO): AU$357.1m (up 24% from 1H 2022). FFO margin: 57% (up from 48% in 1H 2022). Revenue is forecast to stay flat during the next 3 years compared to a 4.1% growth forecast for the REITs industry in Europe. Over the last 3 years on average, earnings per share has increased by 82% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings.
お知らせ • Feb 15Vicinity Centres Announces Dividend on VCX- Fully Paid Ordinary/Units Stapled Securities for the Financial Reporting or Payment Period Ended 31 December 2022, Payable on March 7, 2023Vicinity Centres announced dividend of AUD 0.05750000 per security on VCX - Fully Paid Ordinary/Units Stapled Securities for the financial reporting or payment period ended 31 December 2022. Ex date on February 20, 2023. Record date on February 21, 2023. Payment date on March 7, 2023.
お知らせ • Feb 09Vicinity Centres, Annual General Meeting, Nov 01, 2023Vicinity Centres, Annual General Meeting, Nov 01, 2023.
お知らせ • Feb 03Vicinity Centres Appoints Peter Charles Huddle to the BoardVicinity Centres appointed Peter Charles Huddle to the board. Date of appointment: 1 February 2023.
お知らせ • Feb 01Vicinity Centres to Report Fiscal Year 2023 Results on Aug 16, 2023Vicinity Centres announced that they will report fiscal year 2023 results on Aug 16, 2023
お知らせ • Jan 31+ 1 more updateVicinity Centres Appoints Peter Huddle as Managing Director, Effective 1 February 2023Vicinity Centres announced the appointment of Mr. Peter Huddle as Managing Director following the completion of a global search. Mr. Huddle's appointment is effective on 1 February 2023. Mr. Huddle, who has been Acting Chief Executive Officer for Vicinity since 16 November 2022, joined the Company as Chief Operating Officer (`COO') in March 2019, reporting to the CEO. Since joining Vicinity, Mr. Huddle has brought his strategic vision and global experience in creating market leading, retail-led destinations. Importantly, Mr. Huddle has been instrumental in building organizational capability and a cohesive, integrated and customer-focused Operations team, comprising Property Management, Leasing, Operations, Development, and Marketing. As COO throughout the pandemic, Mr. Huddle was instrumental in leading Vicinity's operational response, and at the same time, ensuring the Company was well positioned to recover and deliver its long-term growth priorities. Prior to joining Vicinity, Mr. Huddle had a long and distinguished career at Westfield in a variety of leadership roles in Australia, Brazil, and the US. Notably, Mr. Huddle had management responsibility for some of the world's preeminent retail and mixed-use development projects including Westfield World Trade Centre in New York and Century City in Los Angeles. Following the acquisition of Westfield by Unibail-Rodamco in June 2018, which formed the largest global retail REIT, Mr. Huddle was appointed COO of the US business. In this role, Mr. Huddle led all real estate activities including Development, Design, Construction, Management, Leasing, and Asset Management. He was also a member of the URW Global Management Board.
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. 6 experienced directors. 1 highly experienced director. Non-Executive Director Clive Appleton was the last director to join the board, commencing their role in 2018. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model.
お知らせ • Oct 28Vicinity Centres to Report Q2, 2023 Results on Feb 14, 2023Vicinity Centres announced that they will report Q2, 2023 results on Feb 14, 2023
Reported Earnings • Aug 18Full year 2022 earnings released: FFO per share: AU$0.1 (vs AU$0.12 in FY 2021)Full year 2022 results: FFO per share: AU$0.1 (up from AU$0.12 in FY 2021). Revenue: AU$1.20b (up 5.6% from FY 2021). Funds from operations (FFO): AU$598.3m (up 7.1% from FY 2021). FFO margin: 50% (in line with FY 2021). Over the next year, revenue is forecast to decline by 26% while the REITs industry in Germany is not expected to grow. Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings.
Board Change • Apr 27Insufficient new directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 7 experienced directors. 1 highly experienced director. Non-Executive Director Clive Appleton was the last director to join the board, commencing their role in 2018. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model.
Board Change • Mar 16Insufficient new directorsThere is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 7 experienced directors. 1 highly experienced director. Non Executive Director Mark Bloom was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model.
Board Change • Dec 06Insufficient new directorsThere is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 7 experienced directors. 1 highly experienced director. Non Executive Director Mark Bloom was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model.
Reported Earnings • Aug 21Full year 2021 earnings released: FFO AU$0.12 per share (vs AU$0.14 in FY 2020)The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: AU$1.14b (up 3.9% from FY 2020). Funds from operations (FFO): AU$558.8m (up 7.4% from FY 2020). FFO margin: 49% (up from 48% in FY 2020). Net asset value (NAV) per share: €1.32 (down 6.9% from FY 2020). The current share price is 28% lower than NAV per share. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 82 percentage points per year, which is a significant difference in performance.
Executive Departure • Jul 14Chief Financial Officer Nicholas Schiffer has left the companyOn the 1st of July, Nicholas Schiffer's tenure as Chief Financial Officer ended after 1.8 years in the role. We don't have any record of a personal shareholding under Nicholas' name. Nicholas is the only executive to leave the company over the last 12 months. The current median tenure of the management team is 2.50 years.
Upcoming Dividend • Dec 23Upcoming Dividend of AU$0.034 Per ShareWill be paid on the 2nd of March to those who are registered shareholders by the 30th of December. The company last paid an ordinary dividend in December 2019. The average dividend yield among industry peers is 4.9%.
Is New 90 Day High Low • Dec 08New 90-day high: €1.05The company is up 27% from its price of €0.83 on 09 September 2020. The German market is up 3.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the REITs industry, which is down 7.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €1.50 per share.
Is New 90 Day High Low • Oct 30New 90-day low: €0.73The company is down 6.0% from its price of €0.77 on 31 July 2020. The German market is down 4.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the REITs industry, which is down 8.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €1.60 per share.