View Financial HealthVGP 배당 및 자사주 매입배당 기준 점검 2/6VGP 수익으로 충분히 충당되는 현재 수익률 4.18% 보유한 배당금 지급 회사입니다.핵심 정보4.2%배당 수익률n/a자사주 매입 수익률총 주주 수익률n/a미래 배당 수익률5.0%배당 성장률5.3%다음 배당 지급일n/a배당락일n/a주당 배당금n/a배당 성향32%최근 배당 및 자사주 매입 업데이트Declared 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.공시 • 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.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.공시 • 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.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.공시 • 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.모든 업데이트 보기Recent 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.속보 • 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.공시 • 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.공시 • 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.공시 • 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.공시 • 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, 2026공시 • 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.분석 기사 • 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.분석 기사 • 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.분석 기사 • 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.분석 기사 • 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...공시 • 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.분석 기사 • 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.분석 기사 • 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...공시 • 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, 2025분석 기사 • 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.분석 기사 • 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.분석 기사 • 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...분석 기사 • 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.공시 • 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.분석 기사 • 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...분석 기사 • 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.공시 • 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).분석 기사 • 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.분석 기사 • 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...분석 기사 • 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...공시 • 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%).공시 • 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.분석 기사 • 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.분석 기사 • 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.공시 • 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.공시 • 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.분석 기사 • 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.공시 • 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%).공시 • 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.공시 • 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%).공시 • 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.지급의 안정성과 성장배당 데이터 가져오는 중안정적인 배당: VGP 10년 미만 동안 배당금을 지급해 왔으며 이 기간 동안 지급액은 휘발성이었습니다.배당금 증가: VGP 의 배당금 지급이 증가했지만 회사는 8 년 동안만 배당금을 지급했습니다.배당 수익률 vs 시장VGP 배당 수익률 vs 시장VGP의 배당 수익률은 시장과 어떻게 비교되나요?구분배당 수익률회사 (VGP)4.2%시장 하위 25% (BE)2.5%시장 상위 25% (BE)6.6%업계 평균 (Real Estate)4.3%분석가 예측 (VGP) (최대 3년)5.0%주목할만한 배당금: VGP 의 배당금( 4.18% )은 Belgian 시장에서 배당금 지급자의 하위 25%( 2.48% )보다 높습니다.고배당: VGP 의 배당금( 4.18% )은 Belgian 시장에서 배당금 지급자의 상위 25%( 6.64% )와 비교해 낮습니다.주주 대상 이익 배당수익 보장: 합리적으로 낮은 지불 비율 ( 31.9% )로 VGP 의 배당금 지급은 수익으로 충분히 충당됩니다.주주 현금 배당현금 흐름 범위: 현금 지급 비율 ( 202.8% )이 높기 때문에 VGP 의 배당금 지급은 현금 흐름으로 잘 충당되지 않습니다.높은 배당을 제공하는 우량 기업 찾기7D1Y7D1Y7D1YBE 시장에서 배당이 강한 기업.View Management기업 분석 및 재무 데이터 상태데이터최종 업데이트 (UTC 시간)기업 분석2026/07/12 18:38종가2026/07/10 00:00수익2025/12/31연간 수익2025/12/31데이터 소스당사의 기업 분석에 사용되는 데이터는 S&P Global Market Intelligence LLC에서 제공됩니다. 아래 데이터는 이 보고서를 생성하기 위해 분석 모델에서 사용됩니다. 데이터는 정규화되므로 소스가 제공된 후 지연이 발생할 수 있습니다.패키지데이터기간미국 소스 예시 *기업 재무제표10년손익계산서현금흐름표대차대조표SEC 양식 10-KSEC 양식 10-Q분석가 컨센서스 추정치+3년재무 예측분석가 목표주가분석가 리서치 보고서Blue Matrix시장 가격30년주가배당, 분할 및 기타 조치ICE 시장 데이터SEC 양식 S-1지분 구조10년주요 주주내부자 거래SEC 양식 4SEC 양식 13D경영진10년리더십 팀이사회SEC 양식 10-KSEC 양식 DEF 14A주요 개발10년회사 공시SEC 양식 8-K* 미국 증권에 대한 예시이며, 비(非)미국 증권에는 해당 국가의 규제 서식 및 자료원을 사용합니다.별도로 명시되지 않는 한 모든 재무 데이터는 연간 기간을 기준으로 하지만 분기별로 업데이트됩니다. 이를 TTM(최근 12개월) 또는 LTM(지난 12개월) 데이터라고 합니다. 자세히 알아보기.분석 모델 및 스노우플레이크이 보고서를 생성하는 데 사용된 분석 모델에 대한 세부 정보는 당사의 Github 페이지에서 확인하실 수 있으며, 보고서 활용 방법에 대한 가이드와 YouTube 튜토리얼도 제공하고 있습니다.Simply Wall St 분석 모델을 설계하고 구축한 세계적 수준의 팀에 대해 알아보세요.산업 및 섹터 지표산업 및 섹터 지표는 Simply Wall St가 6시간마다 계산하며, 프로세스에 대한 자세한 내용은 Github에서 확인할 수 있습니다.분석가 소스VGP NV는 14명의 분석가가 다루고 있습니다. 이 중 5명의 분석가가 우리 보고서에 입력 데이터로 사용되는 매출 또는 수익 추정치를 제출했습니다. 분석가의 제출 자료는 하루 종일 업데이트됩니다.분석가기관Paul MayBarclaysSander BunckBarclaysMarios PastouBernstein11명의 분석가 더 보기
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.
공시 • 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.
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.
공시 • 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.
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.
공시 • 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.
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.
속보 • 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.
공시 • 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.
공시 • 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.
공시 • 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.
공시 • 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
공시 • 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.
분석 기사 • 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.
분석 기사 • 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.
분석 기사 • 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.
분석 기사 • 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...
공시 • 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.
분석 기사 • 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.
분석 기사 • 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...
공시 • 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
분석 기사 • 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.
분석 기사 • 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.
분석 기사 • 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...
분석 기사 • 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.
공시 • 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.
분석 기사 • 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...
분석 기사 • 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.
공시 • 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).
분석 기사 • 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.
분석 기사 • 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...
분석 기사 • 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...
공시 • 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%).
공시 • 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.
분석 기사 • 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.
분석 기사 • 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.
공시 • 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.
공시 • 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.
분석 기사 • 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.
공시 • 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%).
공시 • 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.
공시 • 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%).
공시 • 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.