View Financial HealthNeoen 배당 및 자사주 매입배당 기준 점검 0/6Neoen 은(는) 현재 수익률이 0.38% 인 배당금 지급 회사입니다.핵심 정보0.4%배당 수익률0.04%자사주 매입 수익률총 주주 수익률0.4%미래 배당 수익률0.8%배당 성장률n/a다음 배당 지급일n/a배당락일n/a주당 배당금n/a배당 성향24%최근 배당 및 자사주 매입 업데이트Upcoming Dividend • May 13Upcoming dividend of €0.15 per shareEligible shareholders must have bought the stock before 20 May 2024. Payment date: 11 June 2024. Payout ratio is a comfortable 13% but the company is not cash flow positive. Trailing yield: 0.5%. Lower than top quartile of German dividend payers (4.6%). Lower than average of industry peers (3.2%).Declared Dividend • Mar 11Dividend increased to €0.15Dividend of €0.15 is 20% higher than last year. Ex-date: 20th May 2024 Payment date: 14th June 2024 Dividend yield will be 0.6%, which is lower than the industry average of 3.2%.Upcoming Dividend • May 10Upcoming dividend of €0.13 per share at 0.4% yieldEligible shareholders must have bought the stock before 17 May 2023. Payment date: 08 June 2023. Payout ratio is a comfortable 31% but the company is not cash flow positive. Trailing yield: 0.4%. Lower than top quartile of German dividend payers (4.7%). Lower than average of industry peers (2.5%).모든 업데이트 보기Recent updates공시 • Aug 12Atmos Renewables Pty Ltd agreed to acquire 23.4% stake Hornsdale Wind Farm from Neoen S.A. on August 12, 2025.Atmos Renewables Pty Ltd agreed to acquire 23.4% stake in Hornsdale Wind Farm from Neoen S.A. on August 12, 2025. The expected completion of the transaction is August 12, 2025 to December 31, 2025.공시 • Apr 04Neoen S.A.(ENXTPA:NEOEN) dropped from CAC AllShares IndexNeoen S.A. removed공시 • Mar 24Neoen S.A.(ENXTPA:NEOEN) dropped from FTSE All-World Index (USD)Neoen S.A.(ENXTPA:NEOEN) dropped from FTSE All-World Index (USD)공시 • Mar 20+ 1 more updateBrookfield Global Transition Fund 2, managed by Brookfield Corporation (TSX:BN), Brookfield Renewable Corporation (TSX:BEPC), and Temasek Holdings (Private) Limited completed the acquisition of 53.32% stake in Neoen S.A. (ENXTPA:NEOEN) from Fonds Strategique De Participations, managed by ISALT, SAS, Mosca Animation Participations Et Conseil, Celeste Management SAS and Impala SAS.Brookfield Global Transition Fund 2, managed by Brookfield Corporation (TSX:BN), Brookfield Renewable Corporation (TSX:BEPC), and Temasek Holdings (Private) Limited proposed to acquire 53.32% stake in Neoen S.A. (ENXTPA:NEOEN) from Fonds Strategique De Participations, managed by ISALT, SAS, Mosca Animation Participations Et Conseil, Celeste Management SAS and Impala SAS for €3.2 billion on May 29, 2024. Brookfield Global Transition Fund 2, managed by Brookfield Corporation (TSX:BN), Brookfield Renewable Corporation (TSX:BEPC), and Temasek Holdings (Private) Limited signed a share purchase agreement to acquire 53.32% stake in Neoen S.A. (ENXTPA:NEOEN) from Fonds Strategique De Participations, managed by ISALT, SAS, Mosca Animation Participations Et Conseil, Celeste Management SAS and Impala SAS for €3.2 billion on June 24, 2024. Brookfield's offer implies an equity value for 100% of the shares of €6.1 billion, and our Board of Directors unanimously welcomed Brookfield's proposal. The offer price per share is €39.85. Following the block acquisition, Brookfield would file a mandatory cash tender offer for the remaining shares, at same offer price. The closing of the deal will see Brookfield take a 53.12% majority stake in Neoen at €39.85 ($42.6) per share from investors Impala and Fonds Stratgique de Participations, an investment vehicle owned by seven French insurance companies, amongst others. The Board has established an ad hoc committee comprised of Bertrand Dumazyxi, Helen Lee Bouygues and Christophe Gégoutxii to monitor and facilitate the work of the independent expert, and to prepare a reasoned opinion on the merits of the tender offer and its consequences for Neoen, its shareholders and its employees. The transaction would be subject to customary regulatory approvals including antitrust and foreign investments clearances. The Board of Directors of Neoen, in a meeting on May 29, 2024, unanimously welcomed the proposed transaction It is expected that the regulatory approvals would be obtained by Q4 2024. The transaction is subject to the closing of the Block Acquisition, it is expected that Brookfield would file an all-cash mandatory tender offer for all of the remaining shares and outstanding convertible bonds (OCEANEs) in Neoen, with the “intention of implementing a squeeze out”, which is expected that the regulatory approvals be obtained by Q4 2024 and that the tender offer be launched in Q1 2025. As of October 31, 2024, it is informed that The ACCC will not oppose the acquisition. As of December 27, 2024, Brookfield has completed the acquisition of approximately 53.12% of the outstanding shares of Neoen. As of January 24, 2025, Brookfield Renewable Holdings SAS increases the price offered for the 2022 OCEANEs as part of the simplified tender offer for the Neoen shares and OCEANEs. As of January 24, 2025, the mandatory simplified tender offer is still pending approval by the French Financial Markets Authority (AMF). BNP Paribas and Olivier Akian, Patrick Perreault, Louis-Aynard de Clermont Tonnerre, Julien Benhamou of Société Générale acted as financial advisors, Benjamin de Blegiers and Gilles Lebreton, Alexandre Merle, Catherine Naroz, Elsa Lalanne, David Tayar, Laura Chen, Daniel Zerbib, Chloé Desreumaux, Fabien Jacquemard, Maroussia Cuny, Gauthier Martin, Clémence Graffan, Florence Aubonnet, Anne Lemercier, Alexandre Lagarrigue, Olivier Plessis, Hugues Martin-Sisteron, Alexandre Couturier, Véronique De Hemmer Gudme, Alice Dunoyer de Segonzac, Nadia Kalic and Chad Bochan of Clifford Chance acted as legal advisor to Temasek Holdings (Private) Limited, Brookfield Renewable Corporation, and Brookfield Corporation. Bank of America is acting as exclusive financial advisor and Olivier Assant, Clémence Fallet, Arthur Helfer, Sébastien de Monès, Laetitia Tombarello, Olivier Saba of Bredin Prat is acting as legal advisor to Neoen. Marcus Billam, Olivier Diaz and Alexandre Durand of Gide Loyrette Nouel is acting as legal advisor to the ad hoc committee. Citi and Bredin Prat are acting respectively as financial and legal advisors to Impala. Perchet Rontchevsky is acting as legal advisor to FSP. Impala was also advised by MinterEllison on the Australian aspects. Brookfield Global Transition Fund 2, managed by Brookfield Corporation (TSX:BN), Brookfield Renewable Corporation (TSX:BEPC), and Temasek Holdings (Private) Limited completed the acquisition of 53.32% stake in Neoen S.A. (ENXTPA:NEOEN) from Fonds Strategique De Participations, managed by ISALT, SAS, Mosca Animation Participations Et Conseil, Celeste Management SAS and Impala SAS on March 19, 2025.Reported Earnings • Jul 29First half 2024 earnings released: EPS: €0.21 (vs €0.69 in 1H 2023)First half 2024 results: EPS: €0.21 (down from €0.69 in 1H 2023). Revenue: €255.7m (down 7.7% from 1H 2023). Net income: €32.7m (down 65% from 1H 2023). Profit margin: 13% (down from 33% in 1H 2023). Revenue is forecast to grow 22% p.a. on average during the next 3 years, compared to a 2.0% growth forecast for the Renewable Energy industry in Germany. Over the last 3 years on average, earnings per share has increased by 61% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth.New Risk • Jun 14New minor risk - Earnings qualityThe company has large one-off items impacting its financial results. One-off items were 21% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (1.8x net interest cover). Minor Risks Share price has been volatile over the past 3 months (7.0% average weekly change). Large one-off items impacting financial results.공시 • May 31Brookfield Leads Group Reportedly Seeks Takeover of NeoenA group led by Canadian investor Brookfield Corporation (TSX:BN) is seeking a takeover of Neoen S.A. (ENXTPA:NEOEN), with the proposed transaction valuing the French renewables company at about EUR 6.1 billion (USD 6.62 billion) in total equity terms. Brookfield, along with its renewables arm Brookfield Renewable Partners L.P. (TSX:BEP.UN) and Singaporean state-owned conglomerate Temasek Holdings (Private) Limited, have started exclusive talks to acquire a stake of 53.32% in Neoen. Discussions are underway with shareholders including Impala, the Fonds Strategique de Participations (FSP), Cartusia and Xavier Barbaro, and other investors. The contemplated transaction values Neoen at EUR 39.85 per share, which represents a premium of 43.5% over the company’s six-month volume-weighted average price. Following the block acquisition, Brookfield Renewable Holdings would file a mandatory cash tender offer for the remaining shares. Neoen’s board of directors has unanimously welcomed Brookfield’s proposal.Valuation Update With 7 Day Price Move • May 31Investor sentiment improves as stock rises 18%After last week's 18% share price gain to €37.72, the stock trades at a forward P/E ratio of 57x. Average forward P/E is 23x in the Renewable Energy industry in Germany. Total returns to shareholders of 30% over the past three years.Upcoming Dividend • May 13Upcoming dividend of €0.15 per shareEligible shareholders must have bought the stock before 20 May 2024. Payment date: 11 June 2024. Payout ratio is a comfortable 13% but the company is not cash flow positive. Trailing yield: 0.5%. Lower than top quartile of German dividend payers (4.6%). Lower than average of industry peers (3.2%).공시 • Mar 30Neoen Reportedly Considers Selling 30% Stake in its Australian Unit to Raise More Than €1 BillionNeoen S.A. (ENXTPA:NEOEN) is considering selling a 30% stake in its Australian unit to raise more than €1 billion ($1.1 billion) to fund its growth in the country, according to people familiar with the matter. The sale would be part of Neoen’s plan to expand in Australia and elsewhere beyond 2025 without having to resort to a new share sale by the Paris-based parent company, said the people, who asked not to be named because the information is private. Neoen is working with a financial adviser on the potential sale, which might take place in the second half of the year, though no final decision has been made, one of the people said. A representative for Neoen declined to comment on the potential transaction.Declared Dividend • Mar 11Dividend increased to €0.15Dividend of €0.15 is 20% higher than last year. Ex-date: 20th May 2024 Payment date: 14th June 2024 Dividend yield will be 0.6%, which is lower than the industry average of 3.2%.Reported Earnings • Mar 04Full year 2023 earnings releasedFull year 2023 results: Revenue: €524.4m (up 4.2% from FY 2022). Net income: €150.2m (up 232% from FY 2022). Profit margin: 29% (up from 9.0% in FY 2022). The increase in margin was primarily driven by lower expenses. Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 6.2% growth forecast for the Renewable Energy industry in Germany.공시 • Jan 26Neoen S.A., Annual General Meeting, May 14, 2024Neoen S.A., Annual General Meeting, May 14, 2024.공시 • Nov 03+ 1 more updateNeoen S.A. to Report First Half, 2024 Results on Jul 25, 2024Neoen S.A. announced that they will report first half, 2024 results on Jul 25, 2024Reported Earnings • Aug 02First half 2023 earnings released: EPS: €0.65 (vs €0.20 loss in 1H 2022)First half 2023 results: EPS: €0.65 (up from €0.20 loss in 1H 2022). Revenue: €277.0m (up 24% from 1H 2022). Net income: €92.2m (up €113.2m from 1H 2022). Profit margin: 33% (up from net loss in 1H 2022). The move to profitability was primarily driven by lower expenses. Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 2.5% growth forecast for the Renewable Energy industry in Germany. Over the last 3 years on average, earnings per share has increased by 81% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings.Upcoming Dividend • May 10Upcoming dividend of €0.13 per share at 0.4% yieldEligible shareholders must have bought the stock before 17 May 2023. Payment date: 08 June 2023. Payout ratio is a comfortable 31% but the company is not cash flow positive. Trailing yield: 0.4%. Lower than top quartile of German dividend payers (4.7%). Lower than average of industry peers (2.5%).Reported Earnings • Mar 03Full year 2022 earnings released: EPS: €0.41 (vs €0.43 in FY 2021)Full year 2022 results: EPS: €0.41. Revenue: €503.2m (up 51% from FY 2021). Net income: €45.2m (up 10% from FY 2021). Profit margin: 9.0% (down from 12% in FY 2021). Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 8.5% decline forecast for the Renewable Energy industry in Germany.Board Change • Nov 16Less than half of directors are independentThere is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 7 experienced directors. No highly experienced directors. 3 independent directors (4 non-independent directors). Independent Director Christophe Gegout was the last independent director to join the board, commencing their role in 2015. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment.공시 • Nov 04+ 1 more updateNeoen S.A. to Report Nine Months, 2023 Results on Nov 02, 2023Neoen S.A. announced that they will report nine months, 2023 results on Nov 02, 2023Board Change • Apr 27Less than half of directors are independentThere is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 7 experienced directors. No highly experienced directors. 3 independent directors (4 non-independent directors). Independent Director Christophe Gégout was the last independent director to join the board, commencing their role in 2015. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment.Reported Earnings • Mar 16Full year 2021 earnings: EPS in line with expectations, revenues disappointFull year 2021 results: EPS: €0.39 (up from €0.046 in FY 2020). Revenue: €333.6m (up 12% from FY 2020). Net income: €40.2m (up €36.3m from FY 2020). Profit margin: 12% (up from 1.3% in FY 2020). Revenue missed analyst estimates by 3.7%. Over the next year, revenue is forecast to grow 30% compared to a 34% decline forecast for the industry in Germany. Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has increased by 24% per year, which means it is well ahead of earnings.Reported Earnings • Aug 03First half 2021 earnings released: EPS €0.04 (vs €0.23 in 1H 2020)The company reported a soft first half result with weaker earnings and profit margins, although revenues improved. First half 2021 results: Revenue: €164.9m (up 4.9% from 1H 2020). Net income: €4.50m (down 80% from 1H 2020). Profit margin: 2.7% (down from 14% in 1H 2020).Reported Earnings • Mar 16Full year 2020 earnings releasedThe company reported a soft full year result with weaker earnings and profit margins, although revenues improved. Full year 2020 results: Revenue: €298.8m (up 18% from FY 2019). Net income: €3.90m (down 80% from FY 2019). Profit margin: 1.3% (down from 7.6% in FY 2019).Is New 90 Day High Low • Feb 25New 90-day low: €47.05The company is down 1.0% from its price of €47.60 on 27 November 2020. The German market is up 8.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Renewable Energy industry, which is up 7.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €4.28 per share.Is New 90 Day High Low • Jan 05New 90-day high: €63.30The company is up 31% from its price of €48.45 on 07 October 2020. The German market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Renewable Energy industry, which is up 8.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €4.33 per share.Is New 90 Day High Low • Dec 16New 90-day high: €50.70The company is up 17% from its price of €43.40 on 17 September 2020. The German market is up 2.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Renewable Energy industry, which is up 8.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €2.90 per share.Is New 90 Day High Low • Oct 08New 90-day high: €50.40The company is up 30% from its price of €38.70 on 10 July 2020. The German market is up 3.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Renewable Energy industry, which is flat over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €3.53 per share.Reported Earnings • Sep 26First half earnings releasedOver the last 12 months the company has reported total profits of €24.9m, up 11% from the prior year. Total revenue was €292.3m over the last 12 months, up 15% from the prior year.지급의 안정성과 성장배당 데이터 가져오는 중안정적인 배당: N1N German 시장에서 주목할만한 배당금을 지급하지 않으므로 지급이 안정적인지 확인할 필요가 없습니다.배당금 증가: N1N German 시장에서 주목할만한 배당금을 지급하지 않으므로 지급액이 증가하는지 확인할 필요가 없습니다.배당 수익률 vs 시장Neoen 배당 수익률 vs 시장N1N의 배당 수익률은 시장과 어떻게 비교되나요?구분배당 수익률회사 (N1N)0.4%시장 하위 25% (DE)1.5%시장 상위 25% (DE)4.5%업계 평균 (Renewable Energy)2.2%분석가 예측 (N1N) (최대 3년)0.8%주목할만한 배당금: N1N 의 배당금( 0.38% )은 German 시장에서 배당금 지급자의 하위 25%( 1.54% )와 비교해 주목할 만하지 않습니다.고배당: N1N 의 배당금( 0.38% )은 German 시장에서 배당금 지급자의 상위 25%( 4.55% )와 비교해 낮습니다.주주 대상 이익 배당수익 보장: N1N German 시장에서 주목할만한 배당금을 지급하지 않습니다.주주 현금 배당현금 흐름 범위: N1N 배당금을 지급하고 있지만 회사에는 잉여현금흐름이 없습니다.높은 배당을 제공하는 우량 기업 찾기7D1Y7D1Y7D1YDE 시장에서 배당이 강한 기업.View Management기업 분석 및 재무 데이터 상태데이터최종 업데이트 (UTC 시간)기업 분석2025/03/20 11:13종가2025/03/18 00:00수익2024/12/31연간 수익2024/12/31데이터 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 자세한 내용은 당사의 Github 페이지에서 확인하실 수 있습니다. 또한 보고서 활용 방법에 대한 가이드와 YouTube 튜토리얼도 제공합니다.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 소스Neoen S.A.는 8명의 분석가가 다루고 있습니다. 이 중 5명의 분석가가 우리 보고서에 입력 데이터로 사용되는 매출 또는 수익 추정치를 제출했습니다. 분석가의 제출 자료는 하루 종일 업데이트됩니다.분석가기관Henry TarrBerenbergSofia SavvantidouBNP ParibasManuel PalomoBNP Paribas5명의 분석가 더 보기
Upcoming Dividend • May 13Upcoming dividend of €0.15 per shareEligible shareholders must have bought the stock before 20 May 2024. Payment date: 11 June 2024. Payout ratio is a comfortable 13% but the company is not cash flow positive. Trailing yield: 0.5%. Lower than top quartile of German dividend payers (4.6%). Lower than average of industry peers (3.2%).
Declared Dividend • Mar 11Dividend increased to €0.15Dividend of €0.15 is 20% higher than last year. Ex-date: 20th May 2024 Payment date: 14th June 2024 Dividend yield will be 0.6%, which is lower than the industry average of 3.2%.
Upcoming Dividend • May 10Upcoming dividend of €0.13 per share at 0.4% yieldEligible shareholders must have bought the stock before 17 May 2023. Payment date: 08 June 2023. Payout ratio is a comfortable 31% but the company is not cash flow positive. Trailing yield: 0.4%. Lower than top quartile of German dividend payers (4.7%). Lower than average of industry peers (2.5%).
공시 • Aug 12Atmos Renewables Pty Ltd agreed to acquire 23.4% stake Hornsdale Wind Farm from Neoen S.A. on August 12, 2025.Atmos Renewables Pty Ltd agreed to acquire 23.4% stake in Hornsdale Wind Farm from Neoen S.A. on August 12, 2025. The expected completion of the transaction is August 12, 2025 to December 31, 2025.
공시 • Mar 24Neoen S.A.(ENXTPA:NEOEN) dropped from FTSE All-World Index (USD)Neoen S.A.(ENXTPA:NEOEN) dropped from FTSE All-World Index (USD)
공시 • Mar 20+ 1 more updateBrookfield Global Transition Fund 2, managed by Brookfield Corporation (TSX:BN), Brookfield Renewable Corporation (TSX:BEPC), and Temasek Holdings (Private) Limited completed the acquisition of 53.32% stake in Neoen S.A. (ENXTPA:NEOEN) from Fonds Strategique De Participations, managed by ISALT, SAS, Mosca Animation Participations Et Conseil, Celeste Management SAS and Impala SAS.Brookfield Global Transition Fund 2, managed by Brookfield Corporation (TSX:BN), Brookfield Renewable Corporation (TSX:BEPC), and Temasek Holdings (Private) Limited proposed to acquire 53.32% stake in Neoen S.A. (ENXTPA:NEOEN) from Fonds Strategique De Participations, managed by ISALT, SAS, Mosca Animation Participations Et Conseil, Celeste Management SAS and Impala SAS for €3.2 billion on May 29, 2024. Brookfield Global Transition Fund 2, managed by Brookfield Corporation (TSX:BN), Brookfield Renewable Corporation (TSX:BEPC), and Temasek Holdings (Private) Limited signed a share purchase agreement to acquire 53.32% stake in Neoen S.A. (ENXTPA:NEOEN) from Fonds Strategique De Participations, managed by ISALT, SAS, Mosca Animation Participations Et Conseil, Celeste Management SAS and Impala SAS for €3.2 billion on June 24, 2024. Brookfield's offer implies an equity value for 100% of the shares of €6.1 billion, and our Board of Directors unanimously welcomed Brookfield's proposal. The offer price per share is €39.85. Following the block acquisition, Brookfield would file a mandatory cash tender offer for the remaining shares, at same offer price. The closing of the deal will see Brookfield take a 53.12% majority stake in Neoen at €39.85 ($42.6) per share from investors Impala and Fonds Stratgique de Participations, an investment vehicle owned by seven French insurance companies, amongst others. The Board has established an ad hoc committee comprised of Bertrand Dumazyxi, Helen Lee Bouygues and Christophe Gégoutxii to monitor and facilitate the work of the independent expert, and to prepare a reasoned opinion on the merits of the tender offer and its consequences for Neoen, its shareholders and its employees. The transaction would be subject to customary regulatory approvals including antitrust and foreign investments clearances. The Board of Directors of Neoen, in a meeting on May 29, 2024, unanimously welcomed the proposed transaction It is expected that the regulatory approvals would be obtained by Q4 2024. The transaction is subject to the closing of the Block Acquisition, it is expected that Brookfield would file an all-cash mandatory tender offer for all of the remaining shares and outstanding convertible bonds (OCEANEs) in Neoen, with the “intention of implementing a squeeze out”, which is expected that the regulatory approvals be obtained by Q4 2024 and that the tender offer be launched in Q1 2025. As of October 31, 2024, it is informed that The ACCC will not oppose the acquisition. As of December 27, 2024, Brookfield has completed the acquisition of approximately 53.12% of the outstanding shares of Neoen. As of January 24, 2025, Brookfield Renewable Holdings SAS increases the price offered for the 2022 OCEANEs as part of the simplified tender offer for the Neoen shares and OCEANEs. As of January 24, 2025, the mandatory simplified tender offer is still pending approval by the French Financial Markets Authority (AMF). BNP Paribas and Olivier Akian, Patrick Perreault, Louis-Aynard de Clermont Tonnerre, Julien Benhamou of Société Générale acted as financial advisors, Benjamin de Blegiers and Gilles Lebreton, Alexandre Merle, Catherine Naroz, Elsa Lalanne, David Tayar, Laura Chen, Daniel Zerbib, Chloé Desreumaux, Fabien Jacquemard, Maroussia Cuny, Gauthier Martin, Clémence Graffan, Florence Aubonnet, Anne Lemercier, Alexandre Lagarrigue, Olivier Plessis, Hugues Martin-Sisteron, Alexandre Couturier, Véronique De Hemmer Gudme, Alice Dunoyer de Segonzac, Nadia Kalic and Chad Bochan of Clifford Chance acted as legal advisor to Temasek Holdings (Private) Limited, Brookfield Renewable Corporation, and Brookfield Corporation. Bank of America is acting as exclusive financial advisor and Olivier Assant, Clémence Fallet, Arthur Helfer, Sébastien de Monès, Laetitia Tombarello, Olivier Saba of Bredin Prat is acting as legal advisor to Neoen. Marcus Billam, Olivier Diaz and Alexandre Durand of Gide Loyrette Nouel is acting as legal advisor to the ad hoc committee. Citi and Bredin Prat are acting respectively as financial and legal advisors to Impala. Perchet Rontchevsky is acting as legal advisor to FSP. Impala was also advised by MinterEllison on the Australian aspects. Brookfield Global Transition Fund 2, managed by Brookfield Corporation (TSX:BN), Brookfield Renewable Corporation (TSX:BEPC), and Temasek Holdings (Private) Limited completed the acquisition of 53.32% stake in Neoen S.A. (ENXTPA:NEOEN) from Fonds Strategique De Participations, managed by ISALT, SAS, Mosca Animation Participations Et Conseil, Celeste Management SAS and Impala SAS on March 19, 2025.
Reported Earnings • Jul 29First half 2024 earnings released: EPS: €0.21 (vs €0.69 in 1H 2023)First half 2024 results: EPS: €0.21 (down from €0.69 in 1H 2023). Revenue: €255.7m (down 7.7% from 1H 2023). Net income: €32.7m (down 65% from 1H 2023). Profit margin: 13% (down from 33% in 1H 2023). Revenue is forecast to grow 22% p.a. on average during the next 3 years, compared to a 2.0% growth forecast for the Renewable Energy industry in Germany. Over the last 3 years on average, earnings per share has increased by 61% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth.
New Risk • Jun 14New minor risk - Earnings qualityThe company has large one-off items impacting its financial results. One-off items were 21% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (1.8x net interest cover). Minor Risks Share price has been volatile over the past 3 months (7.0% average weekly change). Large one-off items impacting financial results.
공시 • May 31Brookfield Leads Group Reportedly Seeks Takeover of NeoenA group led by Canadian investor Brookfield Corporation (TSX:BN) is seeking a takeover of Neoen S.A. (ENXTPA:NEOEN), with the proposed transaction valuing the French renewables company at about EUR 6.1 billion (USD 6.62 billion) in total equity terms. Brookfield, along with its renewables arm Brookfield Renewable Partners L.P. (TSX:BEP.UN) and Singaporean state-owned conglomerate Temasek Holdings (Private) Limited, have started exclusive talks to acquire a stake of 53.32% in Neoen. Discussions are underway with shareholders including Impala, the Fonds Strategique de Participations (FSP), Cartusia and Xavier Barbaro, and other investors. The contemplated transaction values Neoen at EUR 39.85 per share, which represents a premium of 43.5% over the company’s six-month volume-weighted average price. Following the block acquisition, Brookfield Renewable Holdings would file a mandatory cash tender offer for the remaining shares. Neoen’s board of directors has unanimously welcomed Brookfield’s proposal.
Valuation Update With 7 Day Price Move • May 31Investor sentiment improves as stock rises 18%After last week's 18% share price gain to €37.72, the stock trades at a forward P/E ratio of 57x. Average forward P/E is 23x in the Renewable Energy industry in Germany. Total returns to shareholders of 30% over the past three years.
Upcoming Dividend • May 13Upcoming dividend of €0.15 per shareEligible shareholders must have bought the stock before 20 May 2024. Payment date: 11 June 2024. Payout ratio is a comfortable 13% but the company is not cash flow positive. Trailing yield: 0.5%. Lower than top quartile of German dividend payers (4.6%). Lower than average of industry peers (3.2%).
공시 • Mar 30Neoen Reportedly Considers Selling 30% Stake in its Australian Unit to Raise More Than €1 BillionNeoen S.A. (ENXTPA:NEOEN) is considering selling a 30% stake in its Australian unit to raise more than €1 billion ($1.1 billion) to fund its growth in the country, according to people familiar with the matter. The sale would be part of Neoen’s plan to expand in Australia and elsewhere beyond 2025 without having to resort to a new share sale by the Paris-based parent company, said the people, who asked not to be named because the information is private. Neoen is working with a financial adviser on the potential sale, which might take place in the second half of the year, though no final decision has been made, one of the people said. A representative for Neoen declined to comment on the potential transaction.
Declared Dividend • Mar 11Dividend increased to €0.15Dividend of €0.15 is 20% higher than last year. Ex-date: 20th May 2024 Payment date: 14th June 2024 Dividend yield will be 0.6%, which is lower than the industry average of 3.2%.
Reported Earnings • Mar 04Full year 2023 earnings releasedFull year 2023 results: Revenue: €524.4m (up 4.2% from FY 2022). Net income: €150.2m (up 232% from FY 2022). Profit margin: 29% (up from 9.0% in FY 2022). The increase in margin was primarily driven by lower expenses. Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 6.2% growth forecast for the Renewable Energy industry in Germany.
공시 • Jan 26Neoen S.A., Annual General Meeting, May 14, 2024Neoen S.A., Annual General Meeting, May 14, 2024.
공시 • Nov 03+ 1 more updateNeoen S.A. to Report First Half, 2024 Results on Jul 25, 2024Neoen S.A. announced that they will report first half, 2024 results on Jul 25, 2024
Reported Earnings • Aug 02First half 2023 earnings released: EPS: €0.65 (vs €0.20 loss in 1H 2022)First half 2023 results: EPS: €0.65 (up from €0.20 loss in 1H 2022). Revenue: €277.0m (up 24% from 1H 2022). Net income: €92.2m (up €113.2m from 1H 2022). Profit margin: 33% (up from net loss in 1H 2022). The move to profitability was primarily driven by lower expenses. Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 2.5% growth forecast for the Renewable Energy industry in Germany. Over the last 3 years on average, earnings per share has increased by 81% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings.
Upcoming Dividend • May 10Upcoming dividend of €0.13 per share at 0.4% yieldEligible shareholders must have bought the stock before 17 May 2023. Payment date: 08 June 2023. Payout ratio is a comfortable 31% but the company is not cash flow positive. Trailing yield: 0.4%. Lower than top quartile of German dividend payers (4.7%). Lower than average of industry peers (2.5%).
Reported Earnings • Mar 03Full year 2022 earnings released: EPS: €0.41 (vs €0.43 in FY 2021)Full year 2022 results: EPS: €0.41. Revenue: €503.2m (up 51% from FY 2021). Net income: €45.2m (up 10% from FY 2021). Profit margin: 9.0% (down from 12% in FY 2021). Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 8.5% decline forecast for the Renewable Energy industry in Germany.
Board Change • Nov 16Less than half of directors are independentThere is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 7 experienced directors. No highly experienced directors. 3 independent directors (4 non-independent directors). Independent Director Christophe Gegout was the last independent director to join the board, commencing their role in 2015. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment.
공시 • Nov 04+ 1 more updateNeoen S.A. to Report Nine Months, 2023 Results on Nov 02, 2023Neoen S.A. announced that they will report nine months, 2023 results on Nov 02, 2023
Board Change • Apr 27Less than half of directors are independentThere is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 7 experienced directors. No highly experienced directors. 3 independent directors (4 non-independent directors). Independent Director Christophe Gégout was the last independent director to join the board, commencing their role in 2015. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment.
Reported Earnings • Mar 16Full year 2021 earnings: EPS in line with expectations, revenues disappointFull year 2021 results: EPS: €0.39 (up from €0.046 in FY 2020). Revenue: €333.6m (up 12% from FY 2020). Net income: €40.2m (up €36.3m from FY 2020). Profit margin: 12% (up from 1.3% in FY 2020). Revenue missed analyst estimates by 3.7%. Over the next year, revenue is forecast to grow 30% compared to a 34% decline forecast for the industry in Germany. Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has increased by 24% per year, which means it is well ahead of earnings.
Reported Earnings • Aug 03First half 2021 earnings released: EPS €0.04 (vs €0.23 in 1H 2020)The company reported a soft first half result with weaker earnings and profit margins, although revenues improved. First half 2021 results: Revenue: €164.9m (up 4.9% from 1H 2020). Net income: €4.50m (down 80% from 1H 2020). Profit margin: 2.7% (down from 14% in 1H 2020).
Reported Earnings • Mar 16Full year 2020 earnings releasedThe company reported a soft full year result with weaker earnings and profit margins, although revenues improved. Full year 2020 results: Revenue: €298.8m (up 18% from FY 2019). Net income: €3.90m (down 80% from FY 2019). Profit margin: 1.3% (down from 7.6% in FY 2019).
Is New 90 Day High Low • Feb 25New 90-day low: €47.05The company is down 1.0% from its price of €47.60 on 27 November 2020. The German market is up 8.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Renewable Energy industry, which is up 7.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €4.28 per share.
Is New 90 Day High Low • Jan 05New 90-day high: €63.30The company is up 31% from its price of €48.45 on 07 October 2020. The German market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Renewable Energy industry, which is up 8.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €4.33 per share.
Is New 90 Day High Low • Dec 16New 90-day high: €50.70The company is up 17% from its price of €43.40 on 17 September 2020. The German market is up 2.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Renewable Energy industry, which is up 8.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €2.90 per share.
Is New 90 Day High Low • Oct 08New 90-day high: €50.40The company is up 30% from its price of €38.70 on 10 July 2020. The German market is up 3.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Renewable Energy industry, which is flat over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €3.53 per share.
Reported Earnings • Sep 26First half earnings releasedOver the last 12 months the company has reported total profits of €24.9m, up 11% from the prior year. Total revenue was €292.3m over the last 12 months, up 15% from the prior year.