Aankondiging • May 02
Elia Group SA/NV announces Annual dividend, payable on June 02, 2026 Elia Group SA/NV announced Annual dividend of EUR 1.4350 per share payable on June 02, 2026, ex-date on May 29, 2026 and record date on June 01, 2026. New Risk • Apr 28
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 25% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (12% operating cash flow to total debt). Minor Risks Large one-off items impacting financial results. Shareholders have been diluted in the past year (25% increase in shares outstanding). New Risk • Mar 29
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 41% 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 Debt is not well covered by operating cash flow (12% operating cash flow to total debt). Minor Risk Large one-off items impacting financial results. Board Change • Mar 29
Less than half of directors are independent Following the recent departure of a director, there are only 5 independent directors on the board. The company's board is composed of: 5 independent directors. 7 non-independent directors. Non-Executive Independent Director Michel Sirat was the last independent director to join the board, commencing their role in 2025. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Major Estimate Revision • Mar 12
Consensus revenue estimates decrease by 10%, EPS upgraded The consensus outlook for fiscal year 2026 has been updated. 2026 revenue forecast fell from €6.14b to €5.50b. EPS estimate increased from €6.09 to €6.36 per share. Net income forecast to grow 25% next year vs 14% growth forecast for Electric Utilities industry in Belgium. Consensus price target broadly unchanged at €132. Share price rose 2.2% to €134 over the past week. Reported Earnings • Mar 06
Full year 2025 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2025 results: EPS: €5.51. Revenue: €4.44b (up 18% from FY 2024). Net income: €556.6m (up 32% from FY 2024). Profit margin: 13% (up from 11% in FY 2024). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 16%. Earnings per share (EPS) exceeded analyst estimates by 7.0%. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 3.6% growth forecast for the Electric Utilities industry in Europe. Reported Earnings • Jul 27
First half 2025 earnings released: EPS: €2.90 (vs €2.35 in 1H 2024) First half 2025 results: EPS: €2.90 (up from €2.35 in 1H 2024). Revenue: €2.17b (up 22% from 1H 2024). Net income: €269.6m (up 49% from 1H 2024). Profit margin: 12% (up from 10% in 1H 2024). Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 1.8% growth forecast for the Electric Utilities industry in Europe. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Board Change • Jun 01
Less than half of directors are independent There 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. 6 experienced directors. 3 highly experienced directors. 4 independent directors (6 non-independent directors). Independent director Lieve Creten was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. New Risk • Apr 20
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 48% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (6.4% operating cash flow to total debt). High level of non-cash earnings (25% accrual ratio). Shareholders have been substantially diluted in the past year (48% increase in shares outstanding). Minor Risk Share price has been volatile over the past 3 months (7.6% average weekly change). Aankondiging • Apr 04
Elia Group SA/NV has completed a Follow-on Equity Offering in the amount of €1.349883 billion. Elia Group SA/NV has completed a Follow-on Equity Offering in the amount of €1.349883 billion.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 20,463,396
Price\Range: €61.88
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 1,351,125
Price\Range: €61.88
Transaction Features: Regulation S; Rights Offering; Rule 144A Aankondiging • Mar 27
Elia Group SA/NV has filed a Follow-on Equity Offering in the amount of €1.349883 billion. Elia Group SA/NV has filed a Follow-on Equity Offering in the amount of €1.349883 billion.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 21,814,521
Price\Range: €61.88
Transaction Features: Rights Offering; Rule 144A Aankondiging • Mar 19
Elia Group SA/NV announces Annual dividend, payable on June 02, 2025 Elia Group SA/NV announced Annual dividend of EUR 1.4350 per share payable on June 02, 2025, ex-date on March 19, 2025 and record date on March 20, 2025. New Risk • Mar 09
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 25% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (6.4% operating cash flow to total debt). Share price has been highly volatile over the past 3 months (7.1% average weekly change). High level of non-cash earnings (25% accrual ratio). Valuation Update With 7 Day Price Move • Mar 07
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to €75.60, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 11x in the Electric Utilities industry in Europe. Total loss to shareholders of 41% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €52.60 per share. Buy Or Sell Opportunity • Feb 19
Now 22% overvalued Over the last 90 days, the stock has fallen 24% to €63.70. The fair value is estimated to be €52.39, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years. Earnings per share has grown by 6.4%. For the next 3 years, revenue is forecast to grow by 14% per annum. Earnings are also forecast to grow by 18% per annum over the same time period. Aankondiging • Feb 13
Elia Group SA/NV, Annual General Meeting, May 20, 2025 Elia Group SA/NV, Annual General Meeting, May 20, 2025. Buy Or Sell Opportunity • Feb 04
Now 22% overvalued Over the last 90 days, the stock has fallen 21% to €67.75. The fair value is estimated to be €55.42, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years. Earnings per share has grown by 6.4%. For the next 3 years, revenue is forecast to grow by 15% per annum. Earnings are also forecast to grow by 18% per annum over the same time period. New Risk • Jan 24
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Belgian stocks, typically moving 5.0% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). High level of non-cash earnings (33% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (5.0% average weekly change). Aankondiging • Jan 23
Elia Group SA/NV to Report Q3, 2025 Results on Nov 28, 2025 Elia Group SA/NV announced that they will report Q3, 2025 results on Nov 28, 2025 Price Target Changed • Jan 20
Price target decreased by 8.4% to €108 Down from €118, the current price target is an average from 13 analysts. New target price is 59% above last closing price of €67.60. Stock is down 39% over the past year. The company is forecast to post earnings per share of €5.24 for next year compared to €4.42 last year. Buy Or Sell Opportunity • Jan 17
Now 22% overvalued Over the last 90 days, the stock has fallen 31% to €67.65. The fair value is estimated to be €55.57, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years. Earnings per share has grown by 6.4%. For the next 3 years, revenue is forecast to grow by 14% per annum. Earnings are also forecast to grow by 17% per annum over the same time period. Valuation Update With 7 Day Price Move • Jan 10
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to €63.00, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 12x in the Electric Utilities industry in Europe. Total loss to shareholders of 42% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €55.58 per share. Aankondiging • Jan 08
Elia Group SA/NV to Report First Half, 2025 Results on Jul 25, 2025 Elia Group SA/NV announced that they will report first half, 2025 results on Jul 25, 2025 Reported Earnings • Jul 25
First half 2024 earnings released: EPS: €2.47 (vs €2.21 in 1H 2023) First half 2024 results: EPS: €2.47 (up from €2.21 in 1H 2023). Revenue: €1.79b (down 15% from 1H 2023). Net income: €181.6m (up 12% from 1H 2023). Profit margin: 10% (up from 7.8% in 1H 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 1.2% growth forecast for the Electric Utilities industry in Europe. 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 2% per year, which means it is significantly lagging earnings. Declared Dividend • May 27
Dividend of €1.39 announced Shareholders will receive a dividend of €1.39. Ex-date: 30th May 2024 Payment date: 3rd June 2024 Dividend yield will be 1.5%, which is lower than the industry average of 4.3%. Sustainability & Growth Dividend is covered by earnings (45% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 2.6% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 34% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Apr 21
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: EPS: €4.42 (down from €4.80 in FY 2022). Revenue: €3.84b (up 6.3% from FY 2022). Net income: €324.5m (down 5.0% from FY 2022). Profit margin: 8.4% (down from 9.4% in FY 2022). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 8.2%. Earnings per share (EPS) also missed analyst estimates by 2.2%. Revenue is forecast to grow 17% p.a. on average during the next 3 years, while revenues in the Electric Utilities industry in Europe are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 9% 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 • Mar 11
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. The company is paying a dividend despite having no free cash flows. Dividend yield: 2.0% 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: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). High level of non-cash earnings (34% accrual ratio). Minor Risk Paying a dividend despite having no free cash flows. Reported Earnings • Mar 07
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: EPS: €4.41. Revenue: €3.84b (up 6.3% from FY 2022). Net income: €355.5m (up 4.0% from FY 2022). Profit margin: 9.3% (down from 9.4% in FY 2022). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 8.2%. Earnings per share (EPS) also missed analyst estimates by 2.2%. Revenue is forecast to grow 16% p.a. on average during the next 3 years, while revenues in the Electric Utilities industry in Europe are expected to remain flat. Aankondiging • Jan 18
Elia Group SA/NV to Report First Half, 2024 Results on Jul 24, 2024 Elia Group SA/NV announced that they will report first half, 2024 results on Jul 24, 2024 Aankondiging • Oct 26
Elia Group SA/NV to Report Q3, 2023 Results on Nov 24, 2023 Elia Group SA/NV announced that they will report Q3, 2023 results on Nov 24, 2023 Reported Earnings • Jul 30
First half 2023 earnings released: EPS: €2.21 (vs €2.29 in 1H 2022) First half 2023 results: EPS: €2.21. Revenue: €2.10b (up 30% from 1H 2022). Net income: €162.5m (up 3.2% from 1H 2022). Profit margin: 7.8% (down from 9.7% in 1H 2022). Revenue is forecast to grow 7.8% p.a. on average during the next 3 years, compared to a 3.8% decline forecast for the Electric Utilities industry in Europe. New Risk • Jul 28
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 21% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (0.5% operating cash flow to total debt). High level of non-cash earnings (21% accrual ratio). Aankondiging • Jun 20
Elia Group SA/NV to Report Fiscal Year 2023 Results on Mar 06, 2024 Elia Group SA/NV announced that they will report fiscal year 2023 results on Mar 06, 2024 Upcoming Dividend • May 23
Upcoming dividend of €1.34 per share at 1.6% yield Eligible shareholders must have bought the stock before 30 May 2023. Payment date: 01 June 2023. Payout ratio is a comfortable 40% but the company is not cash flow positive. Trailing yield: 1.6%. Lower than top quartile of Belgian dividend payers (6.8%). Lower than average of industry peers (4.9%). Reported Earnings • May 03
Full year 2022 earnings: EPS in line with analyst expectations despite revenue beat Full year 2022 results: EPS: €4.80 (up from €4.02 in FY 2021). Revenue: €3.62b (up 42% from FY 2021). Net income: €341.7m (up 24% from FY 2021). Profit margin: 9.4% (down from 11% in FY 2021). Revenue exceeded analyst estimates by 22%. Earnings per share (EPS) were mostly in line with analyst estimates. Revenue is expected to fall by 1.3% p.a. on average during the next 2 years compared to a 4.4% decline forecast for the Electric Utilities industry in Europe. Over the last 3 years on average, earnings per share has increased by 9% per year whereas the company’s share price has increased by 7% per year. Reported Earnings • Mar 07
Full year 2022 earnings: EPS in line with analyst expectations despite revenue beat Full year 2022 results: EPS: €4.80 (up from €4.02 in FY 2021). Revenue: €3.62b (up 42% from FY 2021). Net income: €361.0m (up 31% from FY 2021). Profit margin: 10.0% (in line with FY 2021). Revenue exceeded analyst estimates by 22%. Earnings per share (EPS) were mostly in line with analyst estimates. Revenue is expected to fall by 1.3% p.a. on average during the next 2 years compared to a 3.3% decline forecast for the Electric Utilities industry in Europe. Over the last 3 years on average, earnings per share has increased by 9% per year whereas the company’s share price has increased by 13% per year. Price Target Changed • Jan 27
Price target increased by 10% to €130 Up from €118, the current price target is an average from 3 analysts. New target price is approximately in line with last closing price of €132. Stock is up 11% over the past year. The company is forecast to post earnings per share of €4.84 for next year compared to €4.02 last year. Major Estimate Revision • Dec 14
Consensus revenue estimates increase by 11% The consensus outlook for revenues in 2022 has improved. 2022 revenue forecast increased from €3.14b to €3.49b. EPS estimate increased from €4.30 to €4.84 per share. Net income forecast to grow 4.9% next year vs 4.9% growth forecast for Electric Utilities industry in Belgium. Consensus price target up from €118 to €124. Share price rose 2.4% to €142 over the past week. Aankondiging • Dec 08
Elia Group SA/NV to Report First Half, 2023 Results on Jul 26, 2023 Elia Group SA/NV announced that they will report first half, 2023 results on Jul 26, 2023 Reported Earnings • Jul 31
First half 2022 earnings released First half 2022 results: Revenue: (down 100% from 1H 2021). Net income: (down €124.9m from profit in 1H 2021). Profit margin: (down from 10% in 1H 2021). Over the next year, revenue is forecast to decline by 4.9% while the industry in Belgium is not expected to grow. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has increased by 29% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • May 23
Upcoming dividend of €1.23 per share Eligible shareholders must have bought the stock before 30 May 2022. Payment date: 01 June 2022. Payout ratio is a comfortable 44% and this is well supported by cash flows. Trailing yield: 1.1%. Lower than top quartile of Belgian dividend payers (5.8%). Lower than average of industry peers (4.1%). Aankondiging • May 18
Elia Group SA/NV to Report Fiscal Year 2022 Results on Mar 03, 2023 Elia Group SA/NV announced that they will report fiscal year 2022 results on Mar 03, 2023 Price Target Changed • Apr 27
Price target increased to €124 Up from €113, the current price target is an average from 3 analysts. New target price is 18% below last closing price of €152. Stock is up 70% over the past year. The company is forecast to post earnings per share of €4.10 for next year compared to €4.02 last year. Aankondiging • Apr 22
Elia Group SA/NV to Report Q3, 2022 Results on Nov 25, 2022 Elia Group SA/NV announced that they will report Q3, 2022 results on Nov 25, 2022 Reported Earnings • Apr 17
Full year 2021 earnings: EPS and revenues exceed analyst expectations Full year 2021 results: EPS: €4.02 (up from €3.64 in FY 2020). Revenue: €2.55b (up 16% from FY 2020). Net income: €276.0m (up 10% from FY 2020). Profit margin: 11% (in line with FY 2020). Revenue exceeded analyst estimates by 12%. Earnings per share (EPS) also surpassed analyst estimates by 6.8%. Over the next year, revenue is forecast to grow 5.0%, compared to a 2.2% growth forecast for the industry in Belgium. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has increased by 37% per year, which means it is well ahead of earnings. Reported Earnings • Feb 26
Full year 2021 earnings: EPS and revenues exceed analyst expectations Full year 2021 results: EPS: €4.02 (up from €3.64 in FY 2020). Revenue: €2.55b (up 16% from FY 2020). Net income: €295.3m (up 18% from FY 2020). Profit margin: 12% (in line with FY 2020). Revenue exceeded analyst estimates by 12%. Earnings per share (EPS) also surpassed analyst estimates by 6.8%. Over the next year, revenue is forecast to grow 4.1%, compared to a 7.5% growth forecast for the industry in Belgium. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has increased by 25% per year, which means it is well ahead of earnings. Price Target Changed • Jan 26
Price target increased to €113 Up from €97.33, the current price target is an average from 3 analysts. New target price is approximately in line with last closing price of €119. Stock is up 18% over the past year. The company is forecast to post earnings per share of €3.59 for next year compared to €3.64 last year. Price Target Changed • Dec 17
Price target increased to €104 Up from €97.00, the current price target is an average from 3 analysts. New target price is 11% below last closing price of €117. Stock is up 22% over the past year. The company is forecast to post earnings per share of €3.59 for next year compared to €3.64 last year. Reported Earnings • Jul 29
First half 2021 earnings released: EPS €1.82 (vs €1.81 in 1H 2020) The company reported a mediocre first half result with weaker profit margins, although earnings were flat and revenues improved. First half 2021 results: Revenue: €1.23b (up 16% from 1H 2020). Net income: €124.9m (flat on 1H 2020). Profit margin: 10% (down from 12% in 1H 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has increased by 23% per year, which means it is well ahead of earnings. Upcoming Dividend • May 21
Upcoming dividend of €1.20 per share Eligible shareholders must have bought the stock before 28 May 2021. Payment date: 01 June 2021. Trailing yield: 1.8%. Lower than top quartile of Belgian dividend payers (4.4%). Lower than average of industry peers (3.7%).