View ValuationImplenia 향후 성장Future 기준 점검 3/6Implenia (는) 각각 연간 12.3% 및 5.9% 수익과 수익이 증가할 것으로 예상됩니다. EPS는 연간 12% 만큼 성장할 것으로 예상됩니다. 자기자본이익률은 3년 후 12.5% 로 예상됩니다.핵심 정보12.3%이익 성장률12.01%EPS 성장률Construction 이익 성장8.2%매출 성장률5.9%향후 자기자본이익률12.53%애널리스트 커버리지Good마지막 업데이트09 Jul 2026최근 향후 성장 업데이트업데이트 없음모든 업데이트 보기Recent updatesValuation Update With 7 Day Price Move • Jun 16Investor sentiment improves as stock rises 16%After last week's 16% share price gain to CHF73.20, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 13x in the Construction industry in the United Kingdom. Total returns to shareholders of 75% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CHF68.91 per share.공시 • Jun 13Implenia AG (SWX:IMPN) signed a purchase agreement to acquire Zigmo Engineering GmbH.Implenia AG (SWX:IMPN) signed a purchase agreement to acquire Zigmo Engineering GmbH on May 29, 2026. The expected completion of the transaction is July 13, 2026.New Risk • May 03New minor risk - Dividend sustainabilityThe company has an unstable dividend paying track record. The dividend has had an annual drop of over 20% in the past. Dividend yield: 2.3% This is considered a minor risk. If the company has cut or reduced its dividend in the past, it may be a sign that the underlying business is too cyclical to consistently maintain or grow the dividend over the long-term. It may also indicate the company prioritizes other outcomes instead of maintaining the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. This is currently the only risk that has been identified for the company.공시 • Apr 08Implenia AG to Report Fiscal Year 2026 Final Results on Mar 03, 2027Implenia AG announced that they will report fiscal year 2026 final results on Mar 03, 2027Board Change • Apr 01Insufficient new directorsThere is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 3 experienced directors. 3 highly experienced directors. Independent Director Marie-Noelle Venturi-Zen-Ruffinen was the last director to join the board, commencing their role in 2025. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model.Upcoming Dividend • Mar 29Upcoming dividend of CHF1.40 per shareEligible shareholders must have bought the stock before 02 April 2026. Payment date: 08 April 2026. Payout ratio is a comfortable 31% and this is well supported by cash flows. Trailing yield: 2.2%. Lower than top quartile of British dividend payers (6.0%). Lower than average of industry peers (2.9%).Declared Dividend • Mar 14Dividend increased to CHF1.40Dividend of CHF1.40 is 56% higher than last year. Ex-date: 2nd April 2026 Payment date: 8th April 2026 Dividend yield will be 1.9%, which is lower than the industry average of 3.6%. Sustainability & Growth Dividend is well covered by both earnings (31% earnings payout ratio) and cash flows (32% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 38% over the next 3 years, which should provide support to the dividend and adequate earnings cover.공시 • Mar 10Implenia AG, Annual General Meeting, Mar 31, 2026Implenia AG, Annual General Meeting, Mar 31, 2026, at 10:30 W. Europe Standard Time.Reported Earnings • Mar 05Full year 2025 earnings released: EPS: CHF4.55 (vs CHF5.04 in FY 2024)Full year 2025 results: EPS: CHF4.55 (down from CHF5.04 in FY 2024). Revenue: CHF3.47b (down 2.4% from FY 2024). Net income: CHF83.6m (down 9.4% from FY 2024). Profit margin: 2.4% (down from 2.6% in FY 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 3.3% p.a. on average during the next 3 years, compared to a 4.8% growth forecast for the Construction industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has increased by 24% per year, which means it is well ahead of earnings.공시 • Mar 05Implenia AG to Report First Half, 2026 Results on Aug 19, 2026Implenia AG announced that they will report first half, 2026 results on Aug 19, 2026Buy Or Sell Opportunity • Feb 19Now 22% undervaluedOver the last 90 days, the stock has risen 28% to CHF76.50. The fair value is estimated to be CHF98.19, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 2.6%. Revenue is forecast to grow by 2.6% in 2 years. Earnings are forecast to grow by 4.7% in the next 2 years.Board Change • Jan 23Insufficient new directorsThere is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 3 experienced directors. 3 highly experienced directors. Independent Non Executive Director Raymond Cron was the last director to join the board, commencing their role in 2023. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model.Reported Earnings • Aug 24First half 2025 earnings released: EPS: CHF1.80 (vs CHF1.43 in 1H 2024)First half 2025 results: EPS: CHF1.80 (up from CHF1.43 in 1H 2024). Revenue: CHF1.86b (up 6.6% from 1H 2024). Net income: CHF33.0m (up 26% from 1H 2024). Profit margin: 1.8% (up from 1.5% in 1H 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 1.7% p.a. on average during the next 3 years, compared to a 4.5% growth forecast for the Construction industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has increased by 31% per year, which means it is tracking significantly ahead of earnings growth.공시 • Apr 01Implenia AG to Report Fiscal Year 2025 Results on Mar 04, 2026Implenia AG announced that they will report fiscal year 2025 results on Mar 04, 2026공시 • Mar 27Implenia Ag Appoints Marie-Noëlle Zen-Ruffinen as Board Member and Member of the Nomination and Compensation CommitteeImplenia AG at its AGM held on 25 March 2025, approved election of Marie-Noëlle Zen-Ruffinen as a new Board Member and as member of the Nomination and Compensation Committee. Marie-Noëlle Zen-Ruffinen is a lawyer and titular professor at the University of Geneva’s School of Economics and Management. Since 2016, she has held various board positions, including with the Baloise Group and Banco Santander International SA. She has a master’s degree and a PhD in law, as well as a master’s degree in philosophy from the University of Fribourg.Upcoming Dividend • Mar 20Upcoming dividend of CHF0.90 per shareEligible shareholders must have bought the stock before 27 March 2025. Payment date: 31 March 2025. Payout ratio is a comfortable 18% but the company is not cash flow positive. Trailing yield: 2.2%. Lower than top quartile of British dividend payers (6.0%). Lower than average of industry peers (3.6%).Buy Or Sell Opportunity • Mar 20Now 20% undervaluedOver the last 90 days, the stock has risen 35% to CHF41.28. The fair value is estimated to be CHF51.90, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 15%. For the next 3 years, revenue is forecast to grow by 1.9% per annum. Earnings are also forecast to grow by 5.2% per annum over the same time period.Declared Dividend • Mar 06Dividend increased to CHF0.90Dividend of CHF0.90 is 50% higher than last year. Ex-date: 27th March 2025 Payment date: 31st March 2025 Dividend yield will be 2.3%, which is lower than the industry average of 3.6%. Sustainability & Growth Dividend is covered by earnings (18% 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 decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 18% over the next 3 years, which should provide support to the dividend and adequate earnings cover.New Risk • Mar 03New minor risk - Dividend sustainabilityThe dividend is not well covered by cash flows. The company is paying a dividend despite having no free cash flows. Dividend yield: 2.5% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (2.6% net profit margin).Reported Earnings • Feb 27Full year 2024 earnings released: EPS: CHF5.04 (vs CHF7.69 in FY 2023)Full year 2024 results: EPS: CHF5.04 (down from CHF7.69 in FY 2023). Revenue: CHF3.56b (down 1.0% from FY 2023). Net income: CHF92.4m (down 35% from FY 2023). Profit margin: 2.6% (down from 3.9% in FY 2023). Revenue is forecast to grow 1.4% p.a. on average during the next 3 years, compared to a 4.9% growth forecast for the Construction industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 15% per year whereas the company’s share price has increased by 16% per year.공시 • Jan 16Implenia AG Announces Not Standing for Re-Election of Martin Fischer as Member of the Board of DirectorsImplenia AG announced Martin Fischer, member of the board of directors, will not be standing for re-election at the Annual General Meeting on 25 March 2025. He has been a Member of the Board of Directors and of its Nomination and Compensation Committee since 2018.공시 • Dec 18Implenia AG to Report First Half, 2025 Results on Aug 20, 2025Implenia AG announced that they will report first half, 2025 results on Aug 20, 2025Reported Earnings • Aug 25First half 2024 earnings released: EPS: CHF1.43 (vs CHF1.75 in 1H 2023)First half 2024 results: EPS: CHF1.43 (down from CHF1.75 in 1H 2023). Revenue: CHF1.74b (up 1.2% from 1H 2023). Net income: CHF26.2m (down 19% from 1H 2023). Profit margin: 1.5% (down from 1.9% in 1H 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 1.1% p.a. on average during the next 3 years, compared to a 4.8% growth forecast for the Construction industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 65% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth.공시 • Aug 21+ 1 more updateImplenia AG Announces CEO ChangesImplenia AG announced that it will see a change in leadership in spring 2025. André Wyss, CEO of Implenia since October 2018, will resign at the end of March 2025. The Board of Directors has appointed Jens Vollmar, the current Head Division Buildings, to succeed André Wyss as CEO on 1 April 2025. Jens Vollmar has been at Implenia since 2013. He headed the then Business Unit Buildings from 2015 and Division Buildings from 2019 as a member of the Implenia Executive Committee. He also leads the Country Executive Committee Switzerland as Country President. Before joining Implenia, and after completing his education with a doctorate at the University of St. Gallen (HSG), Jens Vollmar worked there as a Senior Consultant. He still lectures in corporate transactions as well as construction and real estate management at the HSG, is a member of the board of directors of Bauenschweiz and vice president of the board of the association Entwicklung Schweiz.공시 • Apr 05BURU Holding AG acquired 13.7% stake in Implenia AG (SWX:IMPN) from Max Roessler.BURU Holding AG acquired 13.7% stake in Implenia AG (SWX:IMPN) from Max Roessler on April 5, 2024. BURU Holding AG completed the acquisition of 13.7% stake in Implenia AG (SWX:IMPN) from Max Roessler on April 5, 2024.공시 • Apr 03Implenia AG, Annual General Meeting, Mar 25, 2025Implenia AG, Annual General Meeting, Mar 25, 2025.공시 • Mar 27Implenia AG to Report Fiscal Year 2024 Results on Feb 26, 2025Implenia AG announced that they will report fiscal year 2024 results on Feb 26, 2025Upcoming Dividend • Mar 21Upcoming dividend of CHF0.60 per shareEligible shareholders must have bought the stock before 28 March 2024. Payment date: 03 April 2024. Payout ratio is a comfortable 7.8% but the company is not cash flow positive. Trailing yield: 1.9%. Lower than top quartile of British dividend payers (6.2%). Lower than average of industry peers (3.5%).New Risk • Mar 02New major risk - Financial positionThe company's debt is not well covered by operating cash flow. Currently running at an operating cash loss. This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Earnings are forecast to decline by an average of 16% per year for the foreseeable future.New Risk • Feb 29New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 14% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. This is currently the only risk that has been identified for the company.Reported Earnings • Feb 29Full year 2023 earnings releasedFull year 2023 results: Revenue: CHF3.60b (flat on FY 2022). Net income: CHF141.8m (up 35% from FY 2022). Profit margin: 3.9% (up from 2.9% in FY 2022). Revenue is forecast to grow 1.5% p.a. on average during the next 3 years, compared to a 2.8% growth forecast for the Construction industry in the United Kingdom.공시 • Feb 28Implenia AG to Report First Half, 2024 Results on Aug 21, 2024Implenia AG announced that they will report first half, 2024 results on Aug 21, 2024Reported Earnings • Aug 18First half 2023 earnings released: EPS: CHF1.75 (vs CHF3.42 in 1H 2022)First half 2023 results: EPS: CHF1.75 (down from CHF3.42 in 1H 2022). Revenue: CHF1.73b (down 2.1% from 1H 2022). Net income: CHF32.2m (down 49% from 1H 2022). Profit margin: 1.9% (down from 3.6% in 1H 2022). Revenue is forecast to grow 3.4% p.a. on average during the next 3 years, compared to a 3.5% growth forecast for the Construction industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 67% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth.New Risk • Aug 17New major risk - Financial positionThe company's debt is not well covered by operating cash flow. Currently running at an operating cash loss. This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). High level of non-cash earnings (44% accrual ratio).Buying Opportunity • Aug 04Now 20% undervaluedOver the last 90 days, the stock is up 2.8%. The fair value is estimated to be CHF52.20, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 7.0% over the last 3 years. Earnings per share has grown by 38%. For the next 3 years, revenue is forecast to grow by 2.9% per annum. Earnings is forecast to decline by 2.4% per annum over the same time period.Valuation Update With 7 Day Price Move • May 22Investor sentiment improves as stock rises 16%After last week's 16% share price gain to CHF46.50, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 9x in the Construction industry in the United Kingdom. Total returns to shareholders of 30% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CHF53.03 per share.Buying Opportunity • May 10Now 20% undervaluedOver the last 90 days, the stock is up 10%. The fair value is estimated to be CHF52.85, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 7.0% over the last 3 years. Earnings per share has grown by 38%. For the next 3 years, revenue is forecast to grow by 1.9% per annum. Earnings is forecast to decline by 3.4% per annum over the same time period.공시 • May 06Implenia AG (SWX:IMPN) acquired Wincasa AG from Swiss Prime Site AG (SWX:SPSN).Implenia AG (SWX:IMPN) signed an agreement to acquire Wincasa AG from Swiss Prime Site AG (SWX:SPSN) on March 29, 2023. Implenia will acquire Wincasa for an enterprise value of CHF 235 million. The purchase price of CHF 171.6 million is being paid out of Implenia’s own liquidity from profitable business activities. Wincasa AG generated CHF 159 million revenue for the year ended 2022. The transaction is subjected to regulatory approval. The transaction is expected to close during the second quarter of 2023. Wincasa will be managed as an independent business unit within Division Buildings, and its brand will be retained. Wincasa’s operations will continue to be run within Implenia by the existing management team. Marcel Dietrich and Daniel Häusermann Homburger AG acted as legal advisor to Implenia AG. Stephan Erni of Lenz & Staehelin acted as legal advisor to Swiss Prime Site AG. Morgan Stanley & Co. LLC acted as financial advisor to Swiss Prime Site AG. As of May 5, 2023, regulatory approval was received without any conditions and Oliver Hofmann, CEO Wincasa, has left the Executive Board of Swiss Prime Site. Implenia AG (SWX:IMPN) acquired Wincasa AG from Swiss Prime Site AG (SWX:SPSN) on May 5, 2023.Buying Opportunity • Apr 19Now 23% undervaluedOver the last 90 days, the stock is up 4.5%. The fair value is estimated to be CHF51.01, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 7.0% over the last 3 years. Earnings per share has grown by 38%. For the next 3 years, revenue is forecast to grow by 1.9% per annum. Earnings is forecast to decline by 3.4% per annum over the same time period.Upcoming Dividend • Mar 23Upcoming dividend of CHF0.40 per share at 1.1% yieldEligible shareholders must have bought the stock before 30 March 2023. Payment date: 03 April 2023. Trailing yield: 1.1%. Lower than top quartile of British dividend payers (5.7%). Lower than average of industry peers (3.9%).Reported Earnings • Mar 02Full year 2022 earnings released: EPS: CHF5.68 (vs CHF3.31 in FY 2021)Full year 2022 results: EPS: CHF5.68 (up from CHF3.31 in FY 2021). Revenue: CHF3.56b (down 5.3% from FY 2021). Net income: CHF104.8m (up 71% from FY 2021). Profit margin: 2.9% (up from 1.6% in FY 2021). The increase in margin was driven by lower expenses. Revenue is forecast to grow 1.4% p.a. on average during the next 3 years, compared to a 3.7% growth forecast for the Construction industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings.공시 • Jan 14Peri Vertrieb Deutschland Verwaltungs Gmbh acquired Implenia Schalungsbau Gmbh from Implenia AG (SWX:IMPN).Peri Vertrieb Deutschland Verwaltungs Gmbh acquired Implenia Schalungsbau Gmbh from Implenia AG (SWX:IMPN) on January 1, 2023. Peri Vertrieb Deutschland Verwaltungs Gmbh completed the acquisition of Implenia Schalungsbau Gmbh from Implenia AG (SWX:IMPN) on January 1, 2023.Board Change • Nov 16Insufficient new directorsThere is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 6 experienced directors. No highly experienced directors. Independent Non executive Director Judy Bischoff was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model.Reported Earnings • Aug 19First half 2022 earnings released: EPS: CHF3.42 (vs CHF1.17 in 1H 2021)First half 2022 results: EPS: CHF3.42 (up from CHF1.17 in 1H 2021). Revenue: CHF1.77b (down 6.2% from 1H 2021). Net income: CHF63.1m (up 193% from 1H 2021). Profit margin: 3.6% (up from 1.1% in 1H 2021). The increase in margin was driven by lower expenses. Over the next year, revenue is expected to shrink by 1.5% compared to a 5.7% growth forecast for the Construction industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings.Valuation Update With 7 Day Price Move • Aug 17Investor sentiment improved over the past weekAfter last week's 15% share price gain to CHF29.20, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 10x in the Construction industry in the United Kingdom. Total loss to shareholders of 4.1% over the past three years.공시 • May 10Implenia AG to Report Fiscal Year 2022 Results on Mar 01, 2023Implenia AG announced that they will report fiscal year 2022 results on Mar 01, 2023Board Change • Apr 27Insufficient new directorsThere is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 6 experienced directors. No highly experienced directors. Independent Non executive Director Judy Bischoff was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model.Board Change • Apr 02Insufficient new directorsThere is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 6 experienced directors. No highly experienced directors. Independent Non executive Director Judy Bischoff was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model.Reported Earnings • Mar 04Full year 2021 earnings: EPS in line with analyst expectations despite revenue beatFull year 2021 results: EPS: CHF3.31 (up from CHF7.30 loss in FY 2020). Revenue: CHF3.76b (down 5.6% from FY 2020). Net income: CHF61.2m (up CHF195.9m from FY 2020). Profit margin: 1.6% (up from net loss in FY 2020). The move to profitability was driven by lower expenses. Revenue exceeded analyst estimates by 9.3%. Over the next year, revenue is expected to shrink by 6.0% compared to a 3.8% growth forecast for the industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 48% 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.Board Change • Dec 06Insufficient new directorsThere is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 6 experienced directors. No highly experienced directors. Independent Non-Executive Director Barbara Lambert 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.Reported Earnings • Aug 22First half 2021 earnings released: EPS CHF1.17 (vs CHF3.06 in 1H 2020)The company reported a poor first half result with weaker earnings, revenues and profit margins. First half 2021 results: Revenue: CHF1.88b (down 2.2% from 1H 2020). Net income: CHF21.5m (down 62% from 1H 2020). Profit margin: 1.1% (down from 2.9% in 1H 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 65 percentage points per year, which is a significant difference in performance.Is New 90 Day High Low • Feb 15New 90-day high: CHF27.38The company is up 19% from its price of CHF23.00 on 17 November 2020. The British market is up 5.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Construction 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 CHF25.48 per share.Is New 90 Day High Low • Jan 29New 90-day high: CHF25.90The company is up 41% from its price of CHF18.31 on 30 October 2020. The British market is up 18% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Construction industry, which is up 26% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CHF24.11 per share.Valuation Update With 7 Day Price Move • Oct 28Market pulls back on stock over the past weekAfter last week's 24% share price decline to CHF20.34, the stock is trading at a trailing P/E ratio of 4.5x, down from the previous P/E ratio of 5.9x. This compares to an average P/E of 9x in the Construction industry in the United Kingdom. Total return to shareholders over the past three years is a loss of 66%.Is New 90 Day High Low • Oct 21New 90-day low: CHF26.86The company is down 37% from its price of CHF42.30 on 22 July 2020. The British market is down 4.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Construction industry, which is down 7.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CHF33.28 per share.Is New 90 Day High Low • Sep 29New 90-day low: CHF27.82The company is down 23% from its price of CHF36.16 on 01 July 2020. The British market is down 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Construction industry, which is down 11% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CHF34.07 per share.공시 • Jun 17Implenia AG completed the Spin-Off of Ina Invest Holding AG (SWX:INA).Implenia AG (SWX:IMPN) announced the plan to spin off the 57% stake in real estate development portfolio on February 25, 2020. The real estate development portfolio will be moved to the newly incorporated real estate company Ina Invest Ltd. whose shares shall be listed on SIX Swiss Exchange on or around June 12, 2020. Implenia's shareholders will receive 1 Ina Invest's share for every 5 Implenia's shares. Transaction is subject to approval of shareholders of Implenia. As of March 24, 2020, shareholders of Implenia approved the transaction. Implenia AG (SWX:IMPN) completed the spin-off of 57% stake in Real Estate Development Portfolio on June 12, 2020. The distribution completes the spinoff of part of Implenia's development portfolio to create Ina Invest Ltd. ("Ina Invest"), a subsidiary that will be held by Ina Invest Holding (approximately 57%) and Implenia (approximately 43%) following the completion of the remaining steps in the spin-off. Settlement and delivery of the new shares against payment of the offer price is expected to occur on or around June 16, 2020.이익 및 매출 성장 예측LSE:0QNT - 애널리스트 향후 추정치 및 과거 재무 데이터 (CHF Millions)날짜매출이익자유현금흐름영업현금흐름평균 애널리스트 수12/31/20283,910117101133612/31/20273,709104104138612/31/20263,47884121129612/31/20253,4758482137N/A9/30/20253,5749139107N/A6/30/20253,67499-377N/A3/31/20253,61696-2060N/A12/31/20243,55992-3843N/A9/30/20243,5881141895N/A6/30/20243,61613574147N/A3/31/20243,606138-858N/A12/31/20233,596141-90-30N/A9/30/20233,544107-167-115N/A6/30/20233,49274-243-200N/A3/31/20233,51589-77-36N/A12/31/20223,53810589128N/A9/30/20223,593104161203N/A6/30/20223,648103232278N/A3/31/20223,7068258104N/A12/31/20213,76561-116-69N/A9/30/20213,856-54-243-196N/A6/30/20213,946-170-370-323N/A3/31/20213,968-152-296-242N/A12/31/20203,989-135-222-162N/A9/30/20204,081-24-112-44N/A6/30/20204,17387-273N/A3/31/20204,3025932108N/A12/31/20194,4313065144N/A9/30/20194,4288N/A70N/A6/30/20194,425-13N/A-4N/A3/31/20194,395-9N/A6N/A12/31/20184,364-5N/A16N/A9/30/20184,32825N/A67N/A6/30/20184,29156N/A118N/A3/31/20184,07546N/A158N/A12/31/20173,85936N/A197N/A9/30/20173,62738N/A174N/A6/30/20173,39440N/A151N/A3/31/20173,33150N/A107N/A12/31/20163,26760N/A62N/A9/30/20163,30354N/A86N/A6/30/20163,33849N/A110N/A3/31/20163,31348N/A128N/A12/31/20153,28848N/A145N/A9/30/20153,15555N/A106N/A더 보기애널리스트 향후 성장 전망수입 대 저축률: 0QNT 의 연간 예상 수익 증가율(12.3%)이 saving rate(3.4%)보다 높습니다.수익 vs 시장: 0QNT 의 연간 수익(12.3%)이 UK 시장(11.5%)보다 빠르게 성장할 것으로 예상됩니다.고성장 수익: 0QNT 의 수입은 증가할 것으로 예상되지만 상당히 증가하지는 않을 것입니다.수익 대 시장: 0QNT 의 수익(연간 5.9%)이 UK 시장(연간 4.7%)보다 빠르게 성장할 것으로 예상됩니다.고성장 매출: 0QNT 의 수익(연간 5.9%)은 연간 20%보다 느리게 증가할 것으로 예상됩니다.주당순이익 성장 예측향후 자기자본이익률미래 ROE: 0QNT의 자본 수익률은 3년 후 12.5%로 낮을 것으로 예상됩니다.성장 기업 찾아보기7D1Y7D1Y7D1YCapital-goods 산업의 고성장 기업.View Past Performance기업 분석 및 재무 데이터 상태데이터최종 업데이트 (UTC 시간)기업 분석2026/07/10 20:45종가2026/07/10 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 소스Implenia AG는 9명의 분석가가 다루고 있습니다. 이 중 6명의 분석가가 우리 보고서에 입력 데이터로 사용되는 매출 또는 수익 추정치를 제출했습니다. 분석가의 제출 자료는 하루 종일 업데이트됩니다.분석가기관Patrick AppenzellerBaader Helvea Equity ResearchPatrick LaagerBerenbergChristian KorthHSBC6명의 분석가 더 보기
Valuation Update With 7 Day Price Move • Jun 16Investor sentiment improves as stock rises 16%After last week's 16% share price gain to CHF73.20, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 13x in the Construction industry in the United Kingdom. Total returns to shareholders of 75% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CHF68.91 per share.
공시 • Jun 13Implenia AG (SWX:IMPN) signed a purchase agreement to acquire Zigmo Engineering GmbH.Implenia AG (SWX:IMPN) signed a purchase agreement to acquire Zigmo Engineering GmbH on May 29, 2026. The expected completion of the transaction is July 13, 2026.
New Risk • May 03New minor risk - Dividend sustainabilityThe company has an unstable dividend paying track record. The dividend has had an annual drop of over 20% in the past. Dividend yield: 2.3% This is considered a minor risk. If the company has cut or reduced its dividend in the past, it may be a sign that the underlying business is too cyclical to consistently maintain or grow the dividend over the long-term. It may also indicate the company prioritizes other outcomes instead of maintaining the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. This is currently the only risk that has been identified for the company.
공시 • Apr 08Implenia AG to Report Fiscal Year 2026 Final Results on Mar 03, 2027Implenia AG announced that they will report fiscal year 2026 final results on Mar 03, 2027
Board Change • Apr 01Insufficient new directorsThere is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 3 experienced directors. 3 highly experienced directors. Independent Director Marie-Noelle Venturi-Zen-Ruffinen was the last director to join the board, commencing their role in 2025. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model.
Upcoming Dividend • Mar 29Upcoming dividend of CHF1.40 per shareEligible shareholders must have bought the stock before 02 April 2026. Payment date: 08 April 2026. Payout ratio is a comfortable 31% and this is well supported by cash flows. Trailing yield: 2.2%. Lower than top quartile of British dividend payers (6.0%). Lower than average of industry peers (2.9%).
Declared Dividend • Mar 14Dividend increased to CHF1.40Dividend of CHF1.40 is 56% higher than last year. Ex-date: 2nd April 2026 Payment date: 8th April 2026 Dividend yield will be 1.9%, which is lower than the industry average of 3.6%. Sustainability & Growth Dividend is well covered by both earnings (31% earnings payout ratio) and cash flows (32% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 38% over the next 3 years, which should provide support to the dividend and adequate earnings cover.
공시 • Mar 10Implenia AG, Annual General Meeting, Mar 31, 2026Implenia AG, Annual General Meeting, Mar 31, 2026, at 10:30 W. Europe Standard Time.
Reported Earnings • Mar 05Full year 2025 earnings released: EPS: CHF4.55 (vs CHF5.04 in FY 2024)Full year 2025 results: EPS: CHF4.55 (down from CHF5.04 in FY 2024). Revenue: CHF3.47b (down 2.4% from FY 2024). Net income: CHF83.6m (down 9.4% from FY 2024). Profit margin: 2.4% (down from 2.6% in FY 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 3.3% p.a. on average during the next 3 years, compared to a 4.8% growth forecast for the Construction industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has increased by 24% per year, which means it is well ahead of earnings.
공시 • Mar 05Implenia AG to Report First Half, 2026 Results on Aug 19, 2026Implenia AG announced that they will report first half, 2026 results on Aug 19, 2026
Buy Or Sell Opportunity • Feb 19Now 22% undervaluedOver the last 90 days, the stock has risen 28% to CHF76.50. The fair value is estimated to be CHF98.19, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 2.6%. Revenue is forecast to grow by 2.6% in 2 years. Earnings are forecast to grow by 4.7% in the next 2 years.
Board Change • Jan 23Insufficient new directorsThere is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 3 experienced directors. 3 highly experienced directors. Independent Non Executive Director Raymond Cron was the last director to join the board, commencing their role in 2023. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model.
Reported Earnings • Aug 24First half 2025 earnings released: EPS: CHF1.80 (vs CHF1.43 in 1H 2024)First half 2025 results: EPS: CHF1.80 (up from CHF1.43 in 1H 2024). Revenue: CHF1.86b (up 6.6% from 1H 2024). Net income: CHF33.0m (up 26% from 1H 2024). Profit margin: 1.8% (up from 1.5% in 1H 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 1.7% p.a. on average during the next 3 years, compared to a 4.5% growth forecast for the Construction industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has increased by 31% per year, which means it is tracking significantly ahead of earnings growth.
공시 • Apr 01Implenia AG to Report Fiscal Year 2025 Results on Mar 04, 2026Implenia AG announced that they will report fiscal year 2025 results on Mar 04, 2026
공시 • Mar 27Implenia Ag Appoints Marie-Noëlle Zen-Ruffinen as Board Member and Member of the Nomination and Compensation CommitteeImplenia AG at its AGM held on 25 March 2025, approved election of Marie-Noëlle Zen-Ruffinen as a new Board Member and as member of the Nomination and Compensation Committee. Marie-Noëlle Zen-Ruffinen is a lawyer and titular professor at the University of Geneva’s School of Economics and Management. Since 2016, she has held various board positions, including with the Baloise Group and Banco Santander International SA. She has a master’s degree and a PhD in law, as well as a master’s degree in philosophy from the University of Fribourg.
Upcoming Dividend • Mar 20Upcoming dividend of CHF0.90 per shareEligible shareholders must have bought the stock before 27 March 2025. Payment date: 31 March 2025. Payout ratio is a comfortable 18% but the company is not cash flow positive. Trailing yield: 2.2%. Lower than top quartile of British dividend payers (6.0%). Lower than average of industry peers (3.6%).
Buy Or Sell Opportunity • Mar 20Now 20% undervaluedOver the last 90 days, the stock has risen 35% to CHF41.28. The fair value is estimated to be CHF51.90, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 15%. For the next 3 years, revenue is forecast to grow by 1.9% per annum. Earnings are also forecast to grow by 5.2% per annum over the same time period.
Declared Dividend • Mar 06Dividend increased to CHF0.90Dividend of CHF0.90 is 50% higher than last year. Ex-date: 27th March 2025 Payment date: 31st March 2025 Dividend yield will be 2.3%, which is lower than the industry average of 3.6%. Sustainability & Growth Dividend is covered by earnings (18% 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 decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 18% over the next 3 years, which should provide support to the dividend and adequate earnings cover.
New Risk • Mar 03New minor risk - Dividend sustainabilityThe dividend is not well covered by cash flows. The company is paying a dividend despite having no free cash flows. Dividend yield: 2.5% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (2.6% net profit margin).
Reported Earnings • Feb 27Full year 2024 earnings released: EPS: CHF5.04 (vs CHF7.69 in FY 2023)Full year 2024 results: EPS: CHF5.04 (down from CHF7.69 in FY 2023). Revenue: CHF3.56b (down 1.0% from FY 2023). Net income: CHF92.4m (down 35% from FY 2023). Profit margin: 2.6% (down from 3.9% in FY 2023). Revenue is forecast to grow 1.4% p.a. on average during the next 3 years, compared to a 4.9% growth forecast for the Construction industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 15% per year whereas the company’s share price has increased by 16% per year.
공시 • Jan 16Implenia AG Announces Not Standing for Re-Election of Martin Fischer as Member of the Board of DirectorsImplenia AG announced Martin Fischer, member of the board of directors, will not be standing for re-election at the Annual General Meeting on 25 March 2025. He has been a Member of the Board of Directors and of its Nomination and Compensation Committee since 2018.
공시 • Dec 18Implenia AG to Report First Half, 2025 Results on Aug 20, 2025Implenia AG announced that they will report first half, 2025 results on Aug 20, 2025
Reported Earnings • Aug 25First half 2024 earnings released: EPS: CHF1.43 (vs CHF1.75 in 1H 2023)First half 2024 results: EPS: CHF1.43 (down from CHF1.75 in 1H 2023). Revenue: CHF1.74b (up 1.2% from 1H 2023). Net income: CHF26.2m (down 19% from 1H 2023). Profit margin: 1.5% (down from 1.9% in 1H 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 1.1% p.a. on average during the next 3 years, compared to a 4.8% growth forecast for the Construction industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 65% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth.
공시 • Aug 21+ 1 more updateImplenia AG Announces CEO ChangesImplenia AG announced that it will see a change in leadership in spring 2025. André Wyss, CEO of Implenia since October 2018, will resign at the end of March 2025. The Board of Directors has appointed Jens Vollmar, the current Head Division Buildings, to succeed André Wyss as CEO on 1 April 2025. Jens Vollmar has been at Implenia since 2013. He headed the then Business Unit Buildings from 2015 and Division Buildings from 2019 as a member of the Implenia Executive Committee. He also leads the Country Executive Committee Switzerland as Country President. Before joining Implenia, and after completing his education with a doctorate at the University of St. Gallen (HSG), Jens Vollmar worked there as a Senior Consultant. He still lectures in corporate transactions as well as construction and real estate management at the HSG, is a member of the board of directors of Bauenschweiz and vice president of the board of the association Entwicklung Schweiz.
공시 • Apr 05BURU Holding AG acquired 13.7% stake in Implenia AG (SWX:IMPN) from Max Roessler.BURU Holding AG acquired 13.7% stake in Implenia AG (SWX:IMPN) from Max Roessler on April 5, 2024. BURU Holding AG completed the acquisition of 13.7% stake in Implenia AG (SWX:IMPN) from Max Roessler on April 5, 2024.
공시 • Apr 03Implenia AG, Annual General Meeting, Mar 25, 2025Implenia AG, Annual General Meeting, Mar 25, 2025.
공시 • Mar 27Implenia AG to Report Fiscal Year 2024 Results on Feb 26, 2025Implenia AG announced that they will report fiscal year 2024 results on Feb 26, 2025
Upcoming Dividend • Mar 21Upcoming dividend of CHF0.60 per shareEligible shareholders must have bought the stock before 28 March 2024. Payment date: 03 April 2024. Payout ratio is a comfortable 7.8% but the company is not cash flow positive. Trailing yield: 1.9%. Lower than top quartile of British dividend payers (6.2%). Lower than average of industry peers (3.5%).
New Risk • Mar 02New major risk - Financial positionThe company's debt is not well covered by operating cash flow. Currently running at an operating cash loss. This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Earnings are forecast to decline by an average of 16% per year for the foreseeable future.
New Risk • Feb 29New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 14% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. This is currently the only risk that has been identified for the company.
Reported Earnings • Feb 29Full year 2023 earnings releasedFull year 2023 results: Revenue: CHF3.60b (flat on FY 2022). Net income: CHF141.8m (up 35% from FY 2022). Profit margin: 3.9% (up from 2.9% in FY 2022). Revenue is forecast to grow 1.5% p.a. on average during the next 3 years, compared to a 2.8% growth forecast for the Construction industry in the United Kingdom.
공시 • Feb 28Implenia AG to Report First Half, 2024 Results on Aug 21, 2024Implenia AG announced that they will report first half, 2024 results on Aug 21, 2024
Reported Earnings • Aug 18First half 2023 earnings released: EPS: CHF1.75 (vs CHF3.42 in 1H 2022)First half 2023 results: EPS: CHF1.75 (down from CHF3.42 in 1H 2022). Revenue: CHF1.73b (down 2.1% from 1H 2022). Net income: CHF32.2m (down 49% from 1H 2022). Profit margin: 1.9% (down from 3.6% in 1H 2022). Revenue is forecast to grow 3.4% p.a. on average during the next 3 years, compared to a 3.5% growth forecast for the Construction industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 67% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth.
New Risk • Aug 17New major risk - Financial positionThe company's debt is not well covered by operating cash flow. Currently running at an operating cash loss. This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). High level of non-cash earnings (44% accrual ratio).
Buying Opportunity • Aug 04Now 20% undervaluedOver the last 90 days, the stock is up 2.8%. The fair value is estimated to be CHF52.20, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 7.0% over the last 3 years. Earnings per share has grown by 38%. For the next 3 years, revenue is forecast to grow by 2.9% per annum. Earnings is forecast to decline by 2.4% per annum over the same time period.
Valuation Update With 7 Day Price Move • May 22Investor sentiment improves as stock rises 16%After last week's 16% share price gain to CHF46.50, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 9x in the Construction industry in the United Kingdom. Total returns to shareholders of 30% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CHF53.03 per share.
Buying Opportunity • May 10Now 20% undervaluedOver the last 90 days, the stock is up 10%. The fair value is estimated to be CHF52.85, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 7.0% over the last 3 years. Earnings per share has grown by 38%. For the next 3 years, revenue is forecast to grow by 1.9% per annum. Earnings is forecast to decline by 3.4% per annum over the same time period.
공시 • May 06Implenia AG (SWX:IMPN) acquired Wincasa AG from Swiss Prime Site AG (SWX:SPSN).Implenia AG (SWX:IMPN) signed an agreement to acquire Wincasa AG from Swiss Prime Site AG (SWX:SPSN) on March 29, 2023. Implenia will acquire Wincasa for an enterprise value of CHF 235 million. The purchase price of CHF 171.6 million is being paid out of Implenia’s own liquidity from profitable business activities. Wincasa AG generated CHF 159 million revenue for the year ended 2022. The transaction is subjected to regulatory approval. The transaction is expected to close during the second quarter of 2023. Wincasa will be managed as an independent business unit within Division Buildings, and its brand will be retained. Wincasa’s operations will continue to be run within Implenia by the existing management team. Marcel Dietrich and Daniel Häusermann Homburger AG acted as legal advisor to Implenia AG. Stephan Erni of Lenz & Staehelin acted as legal advisor to Swiss Prime Site AG. Morgan Stanley & Co. LLC acted as financial advisor to Swiss Prime Site AG. As of May 5, 2023, regulatory approval was received without any conditions and Oliver Hofmann, CEO Wincasa, has left the Executive Board of Swiss Prime Site. Implenia AG (SWX:IMPN) acquired Wincasa AG from Swiss Prime Site AG (SWX:SPSN) on May 5, 2023.
Buying Opportunity • Apr 19Now 23% undervaluedOver the last 90 days, the stock is up 4.5%. The fair value is estimated to be CHF51.01, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 7.0% over the last 3 years. Earnings per share has grown by 38%. For the next 3 years, revenue is forecast to grow by 1.9% per annum. Earnings is forecast to decline by 3.4% per annum over the same time period.
Upcoming Dividend • Mar 23Upcoming dividend of CHF0.40 per share at 1.1% yieldEligible shareholders must have bought the stock before 30 March 2023. Payment date: 03 April 2023. Trailing yield: 1.1%. Lower than top quartile of British dividend payers (5.7%). Lower than average of industry peers (3.9%).
Reported Earnings • Mar 02Full year 2022 earnings released: EPS: CHF5.68 (vs CHF3.31 in FY 2021)Full year 2022 results: EPS: CHF5.68 (up from CHF3.31 in FY 2021). Revenue: CHF3.56b (down 5.3% from FY 2021). Net income: CHF104.8m (up 71% from FY 2021). Profit margin: 2.9% (up from 1.6% in FY 2021). The increase in margin was driven by lower expenses. Revenue is forecast to grow 1.4% p.a. on average during the next 3 years, compared to a 3.7% growth forecast for the Construction industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings.
공시 • Jan 14Peri Vertrieb Deutschland Verwaltungs Gmbh acquired Implenia Schalungsbau Gmbh from Implenia AG (SWX:IMPN).Peri Vertrieb Deutschland Verwaltungs Gmbh acquired Implenia Schalungsbau Gmbh from Implenia AG (SWX:IMPN) on January 1, 2023. Peri Vertrieb Deutschland Verwaltungs Gmbh completed the acquisition of Implenia Schalungsbau Gmbh from Implenia AG (SWX:IMPN) on January 1, 2023.
Board Change • Nov 16Insufficient new directorsThere is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 6 experienced directors. No highly experienced directors. Independent Non executive Director Judy Bischoff was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model.
Reported Earnings • Aug 19First half 2022 earnings released: EPS: CHF3.42 (vs CHF1.17 in 1H 2021)First half 2022 results: EPS: CHF3.42 (up from CHF1.17 in 1H 2021). Revenue: CHF1.77b (down 6.2% from 1H 2021). Net income: CHF63.1m (up 193% from 1H 2021). Profit margin: 3.6% (up from 1.1% in 1H 2021). The increase in margin was driven by lower expenses. Over the next year, revenue is expected to shrink by 1.5% compared to a 5.7% growth forecast for the Construction industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings.
Valuation Update With 7 Day Price Move • Aug 17Investor sentiment improved over the past weekAfter last week's 15% share price gain to CHF29.20, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 10x in the Construction industry in the United Kingdom. Total loss to shareholders of 4.1% over the past three years.
공시 • May 10Implenia AG to Report Fiscal Year 2022 Results on Mar 01, 2023Implenia AG announced that they will report fiscal year 2022 results on Mar 01, 2023
Board Change • Apr 27Insufficient new directorsThere is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 6 experienced directors. No highly experienced directors. Independent Non executive Director Judy Bischoff was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model.
Board Change • Apr 02Insufficient new directorsThere is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 6 experienced directors. No highly experienced directors. Independent Non executive Director Judy Bischoff was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model.
Reported Earnings • Mar 04Full year 2021 earnings: EPS in line with analyst expectations despite revenue beatFull year 2021 results: EPS: CHF3.31 (up from CHF7.30 loss in FY 2020). Revenue: CHF3.76b (down 5.6% from FY 2020). Net income: CHF61.2m (up CHF195.9m from FY 2020). Profit margin: 1.6% (up from net loss in FY 2020). The move to profitability was driven by lower expenses. Revenue exceeded analyst estimates by 9.3%. Over the next year, revenue is expected to shrink by 6.0% compared to a 3.8% growth forecast for the industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 48% 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.
Board Change • Dec 06Insufficient new directorsThere is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 6 experienced directors. No highly experienced directors. Independent Non-Executive Director Barbara Lambert 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.
Reported Earnings • Aug 22First half 2021 earnings released: EPS CHF1.17 (vs CHF3.06 in 1H 2020)The company reported a poor first half result with weaker earnings, revenues and profit margins. First half 2021 results: Revenue: CHF1.88b (down 2.2% from 1H 2020). Net income: CHF21.5m (down 62% from 1H 2020). Profit margin: 1.1% (down from 2.9% in 1H 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 65 percentage points per year, which is a significant difference in performance.
Is New 90 Day High Low • Feb 15New 90-day high: CHF27.38The company is up 19% from its price of CHF23.00 on 17 November 2020. The British market is up 5.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Construction 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 CHF25.48 per share.
Is New 90 Day High Low • Jan 29New 90-day high: CHF25.90The company is up 41% from its price of CHF18.31 on 30 October 2020. The British market is up 18% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Construction industry, which is up 26% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CHF24.11 per share.
Valuation Update With 7 Day Price Move • Oct 28Market pulls back on stock over the past weekAfter last week's 24% share price decline to CHF20.34, the stock is trading at a trailing P/E ratio of 4.5x, down from the previous P/E ratio of 5.9x. This compares to an average P/E of 9x in the Construction industry in the United Kingdom. Total return to shareholders over the past three years is a loss of 66%.
Is New 90 Day High Low • Oct 21New 90-day low: CHF26.86The company is down 37% from its price of CHF42.30 on 22 July 2020. The British market is down 4.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Construction industry, which is down 7.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CHF33.28 per share.
Is New 90 Day High Low • Sep 29New 90-day low: CHF27.82The company is down 23% from its price of CHF36.16 on 01 July 2020. The British market is down 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Construction industry, which is down 11% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CHF34.07 per share.
공시 • Jun 17Implenia AG completed the Spin-Off of Ina Invest Holding AG (SWX:INA).Implenia AG (SWX:IMPN) announced the plan to spin off the 57% stake in real estate development portfolio on February 25, 2020. The real estate development portfolio will be moved to the newly incorporated real estate company Ina Invest Ltd. whose shares shall be listed on SIX Swiss Exchange on or around June 12, 2020. Implenia's shareholders will receive 1 Ina Invest's share for every 5 Implenia's shares. Transaction is subject to approval of shareholders of Implenia. As of March 24, 2020, shareholders of Implenia approved the transaction. Implenia AG (SWX:IMPN) completed the spin-off of 57% stake in Real Estate Development Portfolio on June 12, 2020. The distribution completes the spinoff of part of Implenia's development portfolio to create Ina Invest Ltd. ("Ina Invest"), a subsidiary that will be held by Ina Invest Holding (approximately 57%) and Implenia (approximately 43%) following the completion of the remaining steps in the spin-off. Settlement and delivery of the new shares against payment of the offer price is expected to occur on or around June 16, 2020.