View ValuationImplenia 将来の成長Future 基準チェック /36Implenia利益と収益がそれぞれ年間12.3%と5.9%増加すると予測されています。EPS は年間 増加すると予想されています。自己資本利益率は 3 年後に12.5% 12%なると予測されています。主要情報12.3%収益成長率12.01%EPS成長率Construction 収益成長8.0%収益成長率5.9%将来の株主資本利益率12.53%アナリストカバレッジGood最終更新日05 Jun 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 updatesValuation Update With 7 Day Price Move • Jun 16Investor sentiment improves as stock rises 17%After last week's 17% share price gain to CHF72.90, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 13x in the Construction industry in the United Kingdom. Total returns to shareholders of 75% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CHF69.05 per share.お知らせ • Jun 13Implenia AG (SWX:IMPN) signed a purchase agreement to acquire Zigmo Engineering GmbH.Implenia AG (SWX:IMPN) signed a purchase agreement to acquire Zigmo Engineering GmbH on May 29, 2026. The expected completion of the transaction is July 13, 2026.Board Change • May 21Insufficient 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. 3 experienced directors. 3 highly experienced directors. Independent Director Marie-Noelle Venturi-Zen-Ruffinen was the last director to join the board, commencing their role in 2025. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model.お知らせ • Apr 08Implenia AG to Report Fiscal Year 2026 Final Results on Mar 03, 2027Implenia AG announced that they will report fiscal year 2026 final results on Mar 03, 2027お知らせ • Mar 10Implenia AG, Annual General Meeting, Mar 31, 2026Implenia AG, Annual General Meeting, Mar 31, 2026, at 10:30 W. Europe Standard Time.お知らせ • Mar 05Implenia AG to Report First Half, 2026 Results on Aug 19, 2026Implenia AG announced that they will report first half, 2026 results on Aug 19, 2026お知らせ • Apr 01Implenia AG to Report Fiscal Year 2025 Results on Mar 04, 2026Implenia AG announced that they will report fiscal year 2025 results on Mar 04, 2026お知らせ • Mar 27Implenia Ag Appoints Marie-Noëlle Zen-Ruffinen as Board Member and Member of the Nomination and Compensation CommitteeImplenia AG at its AGM held on 25 March 2025, approved election of Marie-Noëlle Zen-Ruffinen as a new Board Member and as member of the Nomination and Compensation Committee. Marie-Noëlle Zen-Ruffinen is a lawyer and titular professor at the University of Geneva’s School of Economics and Management. Since 2016, she has held various board positions, including with the Baloise Group and Banco Santander International SA. She has a master’s degree and a PhD in law, as well as a master’s degree in philosophy from the University of Fribourg.お知らせ • Jan 16Implenia AG Announces Not Standing for Re-Election of Martin Fischer as Member of the Board of DirectorsImplenia AG announced Martin Fischer, member of the board of directors, will not be standing for re-election at the Annual General Meeting on 25 March 2025. He has been a Member of the Board of Directors and of its Nomination and Compensation Committee since 2018.お知らせ • Dec 18Implenia AG to Report First Half, 2025 Results on Aug 20, 2025Implenia AG announced that they will report first half, 2025 results on Aug 20, 2025お知らせ • Aug 21+ 1 more updateImplenia AG Announces CEO ChangesImplenia AG announced that it will see a change in leadership in spring 2025. André Wyss, CEO of Implenia since October 2018, will resign at the end of March 2025. The Board of Directors has appointed Jens Vollmar, the current Head Division Buildings, to succeed André Wyss as CEO on 1 April 2025. Jens Vollmar has been at Implenia since 2013. He headed the then Business Unit Buildings from 2015 and Division Buildings from 2019 as a member of the Implenia Executive Committee. He also leads the Country Executive Committee Switzerland as Country President. Before joining Implenia, and after completing his education with a doctorate at the University of St. Gallen (HSG), Jens Vollmar worked there as a Senior Consultant. He still lectures in corporate transactions as well as construction and real estate management at the HSG, is a member of the board of directors of Bauenschweiz and vice president of the board of the association Entwicklung Schweiz.お知らせ • Apr 05BURU Holding AG acquired 13.7% stake in Implenia AG (SWX:IMPN) from Max Roessler.BURU Holding AG acquired 13.7% stake in Implenia AG (SWX:IMPN) from Max Roessler on April 5, 2024. BURU Holding AG completed the acquisition of 13.7% stake in Implenia AG (SWX:IMPN) from Max Roessler on April 5, 2024.お知らせ • Apr 03Implenia AG, Annual General Meeting, Mar 25, 2025Implenia AG, Annual General Meeting, Mar 25, 2025.お知らせ • Mar 27Implenia AG to Report Fiscal Year 2024 Results on Feb 26, 2025Implenia AG announced that they will report fiscal year 2024 results on Feb 26, 2025Upcoming Dividend • Mar 21Upcoming dividend of CHF0.60 per shareEligible shareholders must have bought the stock before 28 March 2024. Payment date: 03 April 2024. Payout ratio is a comfortable 7.8% but the company is not cash flow positive. Trailing yield: 1.8%. Lower than top quartile of British dividend payers (6.3%). Lower than average of industry peers (3.5%).New Risk • Mar 03New major risk - Financial positionThe company's debt is not well covered by operating cash flow. Currently running at an operating cash loss. This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. 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). Earnings are forecast to decline by an average of 16% per year for the foreseeable future.New Risk • Feb 29New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 14% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. This is currently the only risk that has been identified for the company.Reported Earnings • Feb 29Full year 2023 earnings releasedFull year 2023 results: Revenue: CHF3.60b (flat on FY 2022). Net income: CHF141.8m (up 35% from FY 2022). Profit margin: 3.9% (up from 2.9% in FY 2022). Revenue is forecast to grow 1.5% p.a. on average during the next 3 years, compared to a 2.8% growth forecast for the Construction industry in the United Kingdom.お知らせ • Feb 28Implenia AG to Report First Half, 2024 Results on Aug 21, 2024Implenia AG announced that they will report first half, 2024 results on Aug 21, 2024Reported Earnings • Aug 18First half 2023 earnings released: EPS: CHF1.75 (vs CHF3.42 in 1H 2022)First half 2023 results: EPS: CHF1.75 (down from CHF3.42 in 1H 2022). Revenue: CHF1.73b (down 2.1% from 1H 2022). Net income: CHF32.2m (down 49% from 1H 2022). Profit margin: 1.9% (down from 3.6% in 1H 2022). Revenue is forecast to grow 3.4% p.a. on average during the next 3 years, compared to a 3.5% growth forecast for the Construction industry in the United Kingdom.New Risk • Aug 17New major risk - Financial positionThe company's debt is not well covered by operating cash flow. Currently running at an operating cash loss. This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. 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). High level of non-cash earnings (44% accrual ratio).Buying Opportunity • Aug 08Now 20% undervalued after recent price dropOver the last 90 days, the stock is down 2.5%. The fair value is estimated to be CHF51.53, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 7.0% over the last 3 years. Earnings per share has grown by 38%. For the next 3 years, revenue is forecast to grow by 2.9% per annum. Earnings is forecast to decline by 2.4% per annum over the same time period.Valuation Update With 7 Day Price Move • May 22Investor sentiment improves as stock rises 16%After last week's 16% share price gain to CHF46.40, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 9x in the Construction industry in the United Kingdom. Total returns to shareholders of 122% over the past year. Simply Wall St's valuation model estimates the intrinsic value at CHF52.91 per share.Buying Opportunity • May 11Now 23% undervaluedOver the last 90 days, the stock is up 2.9%. The fair value is estimated to be CHF52.45, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 7.0% over the last 3 years. Earnings per share has grown by 38%. For the next 3 years, revenue is forecast to grow by 1.9% per annum. Earnings is forecast to decline by 3.4% per annum over the same time period.お知らせ • May 06Implenia AG (SWX:IMPN) acquired Wincasa AG from Swiss Prime Site AG (SWX:SPSN).Implenia AG (SWX:IMPN) signed an agreement to acquire Wincasa AG from Swiss Prime Site AG (SWX:SPSN) on March 29, 2023. Implenia will acquire Wincasa for an enterprise value of CHF 235 million. The purchase price of CHF 171.6 million is being paid out of Implenia’s own liquidity from profitable business activities. Wincasa AG generated CHF 159 million revenue for the year ended 2022. The transaction is subjected to regulatory approval. The transaction is expected to close during the second quarter of 2023. Wincasa will be managed as an independent business unit within Division Buildings, and its brand will be retained. Wincasa’s operations will continue to be run within Implenia by the existing management team. Marcel Dietrich and Daniel Häusermann Homburger AG acted as legal advisor to Implenia AG. Stephan Erni of Lenz & Staehelin acted as legal advisor to Swiss Prime Site AG. Morgan Stanley & Co. LLC acted as financial advisor to Swiss Prime Site AG. As of May 5, 2023, regulatory approval was received without any conditions and Oliver Hofmann, CEO Wincasa, has left the Executive Board of Swiss Prime Site. Implenia AG (SWX:IMPN) acquired Wincasa AG from Swiss Prime Site AG (SWX:SPSN) on May 5, 2023.Upcoming Dividend • Mar 23Upcoming dividend of CHF0.40 per share at 1.1% yieldEligible shareholders must have bought the stock before 30 March 2023. Payment date: 03 April 2023. Trailing yield: 1.1%. Lower than top quartile of British dividend payers (5.6%). Lower than average of industry peers (3.8%).Reported Earnings • Mar 02Full year 2022 earnings released: EPS: CHF5.68 (vs CHF3.31 in FY 2021)Full year 2022 results: EPS: CHF5.68 (up from CHF3.31 in FY 2021). Revenue: CHF3.56b (down 5.3% from FY 2021). Net income: CHF104.8m (up 71% from FY 2021). Profit margin: 2.9% (up from 1.6% in FY 2021). The increase in margin was driven by lower expenses. Revenue is forecast to grow 1.4% p.a. on average during the next 3 years, compared to a 3.7% growth forecast for the Construction industry in the United Kingdom.お知らせ • Jan 14Peri Vertrieb Deutschland Verwaltungs Gmbh acquired Implenia Schalungsbau Gmbh from Implenia AG (SWX:IMPN).Peri Vertrieb Deutschland Verwaltungs Gmbh acquired Implenia Schalungsbau Gmbh from Implenia AG (SWX:IMPN) on January 1, 2023. Peri Vertrieb Deutschland Verwaltungs Gmbh completed the acquisition of Implenia Schalungsbau Gmbh from Implenia AG (SWX:IMPN) on January 1, 2023.Board Change • Nov 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. 6 experienced directors. No highly experienced directors. Independent Non executive Director Judy Bischoff was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model.Board Change • Sep 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. 6 experienced directors. No highly experienced directors. Independent Non executive Director Judy Bischoff was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model.業績と収益の成長予測BATS-CHIXE:IMPNZ - アナリストの将来予測と過去の財務データ ( )CHF 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12/31/20283,910117101133612/31/20273,709104104138612/31/20263,47884121129612/31/20253,4758482137N/A9/30/20253,5749139107N/A6/30/20253,67499-377N/A3/31/20253,61696-2060N/A12/31/20243,55992-3843N/A9/30/20243,5881141895N/A6/30/20243,61613574147N/A3/31/20243,606138-858N/A12/31/20233,596141-90-30N/A9/30/20233,544107-167-115N/A6/30/20233,49274-243-200N/A3/31/20233,51589-77-36N/A12/31/20223,53810589128N/A9/30/20223,593104161203N/A6/30/20223,648103232278N/A3/31/20223,7068258104N/A12/31/20213,76561-116-69N/A9/30/20213,856-54-243-196N/A6/30/20213,946-170-370-323N/A3/31/20213,968-152-296-242N/A12/31/20203,989-135-222-162N/A9/30/20204,081-24-112-44N/A6/30/20204,17387-273N/A3/31/20204,3025932108N/A12/31/20194,4313065144N/A9/30/20194,4288N/A70N/A6/30/20194,425-13N/A-4N/A3/31/20194,395-9N/A6N/A12/31/20184,364-5N/A16N/A9/30/20184,32825N/A67N/A6/30/20184,29156N/A118N/A3/31/20184,07546N/A158N/A12/31/20173,85936N/A197N/A9/30/20173,62738N/A174N/A6/30/20173,39440N/A151N/A3/31/20173,33150N/A107N/A12/31/20163,26760N/A62N/A9/30/20163,30354N/A86N/A6/30/20163,33849N/A110N/A3/31/20163,31348N/A128N/A12/31/20153,28848N/A145N/A9/30/20153,15555N/A106N/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: IMPNZの予測収益成長率 (年間12.3% ) は 貯蓄率 ( 3.4% ) を上回っています。収益対市場: IMPNZの収益 ( 12.3% ) はUK市場 ( 11.4% ) よりも速いペースで成長すると予測されています。高成長収益: IMPNZの収益は増加すると予測されていますが、大幅には増加しません。収益対市場: IMPNZの収益 ( 5.9% ) UK市場 ( 4.7% ) よりも速いペースで成長すると予測されています。高い収益成長: IMPNZの収益 ( 5.9% ) 20%よりも低い成長が予測されています。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: IMPNZ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 ( 12.5 %)。成長企業の発掘7D1Y7D1Y7D1YCapital-goods 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2026/07/02 23:41終値2026/07/02 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この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、レポートの使い方に関する ガイド や YouTube の チュートリアル もご用意しています。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Implenia AG 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。8 アナリスト機関Patrick AppenzellerBaader Helvea Equity ResearchPatrick LaagerBerenbergChristian KorthHSBC5 その他のアナリストを表示
Valuation Update With 7 Day Price Move • Jun 16Investor sentiment improves as stock rises 17%After last week's 17% share price gain to CHF72.90, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 13x in the Construction industry in the United Kingdom. Total returns to shareholders of 75% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CHF69.05 per share.
お知らせ • Jun 13Implenia AG (SWX:IMPN) signed a purchase agreement to acquire Zigmo Engineering GmbH.Implenia AG (SWX:IMPN) signed a purchase agreement to acquire Zigmo Engineering GmbH on May 29, 2026. The expected completion of the transaction is July 13, 2026.
Board Change • May 21Insufficient 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. 3 experienced directors. 3 highly experienced directors. Independent Director Marie-Noelle Venturi-Zen-Ruffinen was the last director to join the board, commencing their role in 2025. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model.
お知らせ • Apr 08Implenia AG to Report Fiscal Year 2026 Final Results on Mar 03, 2027Implenia AG announced that they will report fiscal year 2026 final results on Mar 03, 2027
お知らせ • Mar 10Implenia AG, Annual General Meeting, Mar 31, 2026Implenia AG, Annual General Meeting, Mar 31, 2026, at 10:30 W. Europe Standard Time.
お知らせ • Mar 05Implenia AG to Report First Half, 2026 Results on Aug 19, 2026Implenia AG announced that they will report first half, 2026 results on Aug 19, 2026
お知らせ • Apr 01Implenia AG to Report Fiscal Year 2025 Results on Mar 04, 2026Implenia AG announced that they will report fiscal year 2025 results on Mar 04, 2026
お知らせ • Mar 27Implenia Ag Appoints Marie-Noëlle Zen-Ruffinen as Board Member and Member of the Nomination and Compensation CommitteeImplenia AG at its AGM held on 25 March 2025, approved election of Marie-Noëlle Zen-Ruffinen as a new Board Member and as member of the Nomination and Compensation Committee. Marie-Noëlle Zen-Ruffinen is a lawyer and titular professor at the University of Geneva’s School of Economics and Management. Since 2016, she has held various board positions, including with the Baloise Group and Banco Santander International SA. She has a master’s degree and a PhD in law, as well as a master’s degree in philosophy from the University of Fribourg.
お知らせ • Jan 16Implenia AG Announces Not Standing for Re-Election of Martin Fischer as Member of the Board of DirectorsImplenia AG announced Martin Fischer, member of the board of directors, will not be standing for re-election at the Annual General Meeting on 25 March 2025. He has been a Member of the Board of Directors and of its Nomination and Compensation Committee since 2018.
お知らせ • Dec 18Implenia AG to Report First Half, 2025 Results on Aug 20, 2025Implenia AG announced that they will report first half, 2025 results on Aug 20, 2025
お知らせ • Aug 21+ 1 more updateImplenia AG Announces CEO ChangesImplenia AG announced that it will see a change in leadership in spring 2025. André Wyss, CEO of Implenia since October 2018, will resign at the end of March 2025. The Board of Directors has appointed Jens Vollmar, the current Head Division Buildings, to succeed André Wyss as CEO on 1 April 2025. Jens Vollmar has been at Implenia since 2013. He headed the then Business Unit Buildings from 2015 and Division Buildings from 2019 as a member of the Implenia Executive Committee. He also leads the Country Executive Committee Switzerland as Country President. Before joining Implenia, and after completing his education with a doctorate at the University of St. Gallen (HSG), Jens Vollmar worked there as a Senior Consultant. He still lectures in corporate transactions as well as construction and real estate management at the HSG, is a member of the board of directors of Bauenschweiz and vice president of the board of the association Entwicklung Schweiz.
お知らせ • Apr 05BURU Holding AG acquired 13.7% stake in Implenia AG (SWX:IMPN) from Max Roessler.BURU Holding AG acquired 13.7% stake in Implenia AG (SWX:IMPN) from Max Roessler on April 5, 2024. BURU Holding AG completed the acquisition of 13.7% stake in Implenia AG (SWX:IMPN) from Max Roessler on April 5, 2024.
お知らせ • Apr 03Implenia AG, Annual General Meeting, Mar 25, 2025Implenia AG, Annual General Meeting, Mar 25, 2025.
お知らせ • Mar 27Implenia AG to Report Fiscal Year 2024 Results on Feb 26, 2025Implenia AG announced that they will report fiscal year 2024 results on Feb 26, 2025
Upcoming Dividend • Mar 21Upcoming dividend of CHF0.60 per shareEligible shareholders must have bought the stock before 28 March 2024. Payment date: 03 April 2024. Payout ratio is a comfortable 7.8% but the company is not cash flow positive. Trailing yield: 1.8%. Lower than top quartile of British dividend payers (6.3%). Lower than average of industry peers (3.5%).
New Risk • Mar 03New major risk - Financial positionThe company's debt is not well covered by operating cash flow. Currently running at an operating cash loss. This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. 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). Earnings are forecast to decline by an average of 16% per year for the foreseeable future.
New Risk • Feb 29New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 14% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. This is currently the only risk that has been identified for the company.
Reported Earnings • Feb 29Full year 2023 earnings releasedFull year 2023 results: Revenue: CHF3.60b (flat on FY 2022). Net income: CHF141.8m (up 35% from FY 2022). Profit margin: 3.9% (up from 2.9% in FY 2022). Revenue is forecast to grow 1.5% p.a. on average during the next 3 years, compared to a 2.8% growth forecast for the Construction industry in the United Kingdom.
お知らせ • Feb 28Implenia AG to Report First Half, 2024 Results on Aug 21, 2024Implenia AG announced that they will report first half, 2024 results on Aug 21, 2024
Reported Earnings • Aug 18First half 2023 earnings released: EPS: CHF1.75 (vs CHF3.42 in 1H 2022)First half 2023 results: EPS: CHF1.75 (down from CHF3.42 in 1H 2022). Revenue: CHF1.73b (down 2.1% from 1H 2022). Net income: CHF32.2m (down 49% from 1H 2022). Profit margin: 1.9% (down from 3.6% in 1H 2022). Revenue is forecast to grow 3.4% p.a. on average during the next 3 years, compared to a 3.5% growth forecast for the Construction industry in the United Kingdom.
New Risk • Aug 17New major risk - Financial positionThe company's debt is not well covered by operating cash flow. Currently running at an operating cash loss. This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. 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). High level of non-cash earnings (44% accrual ratio).
Buying Opportunity • Aug 08Now 20% undervalued after recent price dropOver the last 90 days, the stock is down 2.5%. The fair value is estimated to be CHF51.53, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 7.0% over the last 3 years. Earnings per share has grown by 38%. For the next 3 years, revenue is forecast to grow by 2.9% per annum. Earnings is forecast to decline by 2.4% per annum over the same time period.
Valuation Update With 7 Day Price Move • May 22Investor sentiment improves as stock rises 16%After last week's 16% share price gain to CHF46.40, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 9x in the Construction industry in the United Kingdom. Total returns to shareholders of 122% over the past year. Simply Wall St's valuation model estimates the intrinsic value at CHF52.91 per share.
Buying Opportunity • May 11Now 23% undervaluedOver the last 90 days, the stock is up 2.9%. The fair value is estimated to be CHF52.45, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 7.0% over the last 3 years. Earnings per share has grown by 38%. For the next 3 years, revenue is forecast to grow by 1.9% per annum. Earnings is forecast to decline by 3.4% per annum over the same time period.
お知らせ • May 06Implenia AG (SWX:IMPN) acquired Wincasa AG from Swiss Prime Site AG (SWX:SPSN).Implenia AG (SWX:IMPN) signed an agreement to acquire Wincasa AG from Swiss Prime Site AG (SWX:SPSN) on March 29, 2023. Implenia will acquire Wincasa for an enterprise value of CHF 235 million. The purchase price of CHF 171.6 million is being paid out of Implenia’s own liquidity from profitable business activities. Wincasa AG generated CHF 159 million revenue for the year ended 2022. The transaction is subjected to regulatory approval. The transaction is expected to close during the second quarter of 2023. Wincasa will be managed as an independent business unit within Division Buildings, and its brand will be retained. Wincasa’s operations will continue to be run within Implenia by the existing management team. Marcel Dietrich and Daniel Häusermann Homburger AG acted as legal advisor to Implenia AG. Stephan Erni of Lenz & Staehelin acted as legal advisor to Swiss Prime Site AG. Morgan Stanley & Co. LLC acted as financial advisor to Swiss Prime Site AG. As of May 5, 2023, regulatory approval was received without any conditions and Oliver Hofmann, CEO Wincasa, has left the Executive Board of Swiss Prime Site. Implenia AG (SWX:IMPN) acquired Wincasa AG from Swiss Prime Site AG (SWX:SPSN) on May 5, 2023.
Upcoming Dividend • Mar 23Upcoming dividend of CHF0.40 per share at 1.1% yieldEligible shareholders must have bought the stock before 30 March 2023. Payment date: 03 April 2023. Trailing yield: 1.1%. Lower than top quartile of British dividend payers (5.6%). Lower than average of industry peers (3.8%).
Reported Earnings • Mar 02Full year 2022 earnings released: EPS: CHF5.68 (vs CHF3.31 in FY 2021)Full year 2022 results: EPS: CHF5.68 (up from CHF3.31 in FY 2021). Revenue: CHF3.56b (down 5.3% from FY 2021). Net income: CHF104.8m (up 71% from FY 2021). Profit margin: 2.9% (up from 1.6% in FY 2021). The increase in margin was driven by lower expenses. Revenue is forecast to grow 1.4% p.a. on average during the next 3 years, compared to a 3.7% growth forecast for the Construction industry in the United Kingdom.
お知らせ • Jan 14Peri Vertrieb Deutschland Verwaltungs Gmbh acquired Implenia Schalungsbau Gmbh from Implenia AG (SWX:IMPN).Peri Vertrieb Deutschland Verwaltungs Gmbh acquired Implenia Schalungsbau Gmbh from Implenia AG (SWX:IMPN) on January 1, 2023. Peri Vertrieb Deutschland Verwaltungs Gmbh completed the acquisition of Implenia Schalungsbau Gmbh from Implenia AG (SWX:IMPN) on January 1, 2023.
Board Change • Nov 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. 6 experienced directors. No highly experienced directors. Independent Non executive Director Judy Bischoff was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model.
Board Change • Sep 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. 6 experienced directors. No highly experienced directors. Independent Non executive Director Judy Bischoff was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model.