Loading...

Cofinimmo

WBAG:COFB
Snowflake Description

Average dividend payer with limited growth.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
COFB
WBAG
€3B
Market Cap
  1. Home
  2. AT
  3. Real Estate
Company description

Cofinimmo has been acquiring, developing and managing rental properties for over 35 years. The last earnings update was 23 days ago. More info.


Add to Portfolio Compare Print
COFB Share Price and Events
7 Day Returns
-2.8%
WBAG:COFB
-0.2%
Europe REITs
0.9%
AT Market
1 Year Returns
5.6%
WBAG:COFB
-3%
Europe REITs
-8.7%
AT Market
COFB Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Cofinimmo (COFB) -2.8% -3.1% -2.9% 5.6% - -
Europe REITs -0.2% -1.1% 2.9% -3% 1.6% 14.4%
AT Market 0.9% -5.1% 2% -8.7% 42.7% 26.2%
1 Year Return vs Industry and Market
  • COFB outperformed the REITs industry which returned -3% over the past year.
  • COFB outperformed the Market in Austria which returned -8.7% over the past year.
Price Volatility
COFB
Industry
5yr Volatility vs Market

Value

 Is Cofinimmo undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Cofinimmo to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Cofinimmo.

WBAG:COFB Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity using Funds From Operations
Levered Funds From Operations Average of 6 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 6.2%
Perpetual Growth Rate 10-Year AT Government Bond Rate 0.5%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for WBAG:COFB
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year AT Govt Bond Rate 0.5%
Equity Risk Premium S&P Global 6.8%
REITs Unlevered Beta Simply Wall St/ S&P Global 0.52
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.523 (1 + (1- 29%) (62.3%))
0.835
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.83
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.51% + (0.835 * 6.8%)
6.19%

Discounted Cash Flow Calculation for WBAG:COFB using 2 Stage Free Cash Flow to Equity using Funds From Operations Model

The calculations below outline how an intrinsic value for Cofinimmo is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Cofinimmo is a Real Estate Investment Trust (REIT), we use funds from operations (FFO) or adjusted funds from operations (AFFO) instead of levered free cash flow for REITs. This excludes depreciation and borrowing. Ideally analysts estimates of AFFO are used, where these aren't available we use FFO.

WBAG:COFB DCF 1st Stage: Next 10 year cash flow forecast
Funds From Operations (FFO) (EUR, Millions) Source Present Value
Discounted (@ 6.19%)
2019 156.42 Analyst x4 147.30
2020 163.22 Analyst x3 144.75
2021 165.30 Analyst x1 138.05
2022 169.30 Analyst x1 133.15
2023 171.20 Analyst x1 126.80
2024 173.46 Est @ 1.32% 120.99
2025 175.34 Est @ 1.08% 115.17
2026 176.93 Est @ 0.91% 109.45
2027 178.33 Est @ 0.79% 103.88
2028 179.58 Est @ 0.71% 98.52
Present value of next 10 years cash flows €1,238.07
WBAG:COFB DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= €179.58 × (1 + 0.51%) ÷ (6.19% – 0.51%)
€3,178.92
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= €3,178.92 ÷ (1 + 6.19%)10
€1,743.92
WBAG:COFB Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= €1,238.07 + €1,743.92
€2,981.99
Equity Value per Share
(EUR)
= Total value / Shares Outstanding
= €2,981.99 / 22.80
€131.08
WBAG:COFB Discount to Share Price
Calculation Result
Value per share (EUR) From above. €131.31
Current discount Discount to share price of €111.80
= -1 x (€111.80 - €131.31) / €131.31
14.9%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Cofinimmo is available for.
Intrinsic value
15%
Share price is €111.8 vs Future cash flow value of €131.31
Current Discount Checks
For Cofinimmo to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Cofinimmo's share price is below the future cash flow value, but not at a moderate discount (< 20%).
  • Cofinimmo's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Cofinimmo's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Cofinimmo's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
WBAG:COFB PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in EUR €4.64
ENXTBR:COFB Share Price ** ENXTBR (2019-05-17) in EUR €111.6
Europe REITs Industry PE Ratio Median Figure of 125 Publicly-Listed REITs Companies 12.37x
Austria Market PE Ratio Median Figure of 53 Publicly-Listed Companies 14.83x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Cofinimmo.

WBAG:COFB PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= ENXTBR:COFB Share Price ÷ EPS (both in EUR)

= 111.6 ÷ 4.64

24.05x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Cofinimmo is overvalued based on earnings compared to the Europe REITs industry average.
  • Cofinimmo is overvalued based on earnings compared to the Austria market.
Price based on expected Growth
Does Cofinimmo's expected growth come at a high price?
Raw Data
WBAG:COFB PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 24.05x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts
9.9%per year
Europe REITs Industry PEG Ratio Median Figure of 63 Publicly-Listed REITs Companies -0.07x
Austria Market PEG Ratio Median Figure of 32 Publicly-Listed Companies 1.26x

*Line of best fit is calculated by linear regression .

WBAG:COFB PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 24.05x ÷ 9.9%

2.42x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Cofinimmo is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Cofinimmo's assets?
Raw Data
WBAG:COFB PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in EUR €88.99
ENXTBR:COFB Share Price * ENXTBR (2019-05-17) in EUR €111.6
Europe REITs Industry PB Ratio Median Figure of 149 Publicly-Listed REITs Companies 0.99x
Austria Market PB Ratio Median Figure of 60 Publicly-Listed Companies 1.24x
WBAG:COFB PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= ENXTBR:COFB Share Price ÷ Book Value per Share (both in EUR)

= 111.6 ÷ 88.99

1.25x

* Primary Listing of Cofinimmo.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Cofinimmo is overvalued based on assets compared to the Europe REITs industry average.
X
Value checks
We assess Cofinimmo's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the REITs industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the REITs industry average (and greater than 0)? (1 check)
  5. Cofinimmo has a total score of 0/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Cofinimmo expected to perform in the next 1 to 3 years based on estimates from 6 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
9.9%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Cofinimmo expected to grow at an attractive rate?
  • Cofinimmo's earnings growth is expected to exceed the low risk savings rate of 0.5%.
Growth vs Market Checks
  • Cofinimmo's earnings growth is expected to exceed the Austria market average.
  • Cofinimmo's revenue growth is positive but not above the Austria market average.
Annual Growth Rates Comparison
Raw Data
WBAG:COFB Future Growth Rates Data Sources
Data Point Source Value (per year)
WBAG:COFB Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts 9.9%
WBAG:COFB Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 6 Analysts 2.2%
Europe REITs Industry Earnings Growth Rate Market Cap Weighted Average 6.2%
Europe REITs Industry Revenue Growth Rate Market Cap Weighted Average 2.3%
Austria Market Earnings Growth Rate Market Cap Weighted Average 9.2%
Austria Market Revenue Growth Rate Market Cap Weighted Average 2.6%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
WBAG:COFB Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
WBAG:COFB Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 257 179 215 1
2022-12-31 254 177 194 1
2021-12-31 257 172 148 2
2020-12-31 234 162 129 5
2019-12-31 229 154 174 3
WBAG:COFB Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2019-03-31 259 105
2018-12-31 263 161 146
2018-09-30 260 186
2018-06-30 258 140 170
2018-03-31 264 166
2017-12-31 263 157 137
2017-09-30 267 121
2017-06-30 267 168 128
2017-03-31 275 134
2016-12-31 257 144 97
2016-09-30 253 100
2016-06-30 255 148 82

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Cofinimmo's earnings are expected to grow by 9.9% yearly, however this is not considered high growth (20% yearly).
  • Cofinimmo's revenue is expected to grow by 2.2% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
WBAG:COFB Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below

All data from Cofinimmo Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

WBAG:COFB Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 11.10 11.10 11.10 1.00
2020-12-31 8.30 10.40 6.77 3.00
2019-12-31 8.35 9.18 7.88 3.00
WBAG:COFB Past Financials Data
Date (Data in EUR Millions) EPS *
2019-03-31 4.64
2018-12-31 6.58
2018-09-30 8.57
2018-06-30 7.97
2018-03-31 7.76
2017-12-31 6.45
2017-09-30 5.68
2017-06-30 6.05
2017-03-31 6.39
2016-12-31 4.64
2016-09-30 4.79
2016-06-30 3.88

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Cofinimmo is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Cofinimmo's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Europe market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Cofinimmo has a total score of 2/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Cofinimmo performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Cofinimmo's growth in the last year to its industry (REITs).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Cofinimmo has delivered over 20% year on year earnings growth in the past 5 years.
  • Cofinimmo's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Cofinimmo's 1-year earnings growth is negative, it can't be compared to the Europe REITs industry average.
Earnings and Revenue History
Cofinimmo's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Cofinimmo Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

WBAG:COFB Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 258.52 104.62 8.14
2018-12-31 263.47 145.61 7.82
2018-09-30 260.00 186.24 7.70
2018-06-30 258.31 169.78 7.85
2018-03-31 263.87 165.95 7.88
2017-12-31 263.20 137.36 7.90
2017-09-30 267.47 120.54 8.11
2017-06-30 266.56 127.96 7.90
2017-03-31 274.62 134.18 7.78
2016-12-31 257.44 97.39 8.67
2016-09-30 253.18 100.44 8.90
2016-06-30 255.14 81.51 9.25
2016-03-31 249.25 109.66 9.38
2015-12-31 255.20 103.97 8.17
2015-09-30 259.69 76.09 8.12
2015-06-30 262.45 65.87 8.03
2015-03-31 263.57 -58.70 7.94
2014-12-31 258.52 -52.67 7.83
2014-09-30 269.59 -51.41 7.83
2014-06-30 274.42 -39.27 7.66
2014-03-31 276.34 37.01 7.67
2013-12-31 273.08 58.74 7.53
2013-09-30 250.26 65.65 7.62
2013-06-30 260.06 65.04 7.76
2013-03-31 260.82 85.30 7.83
2012-12-31 258.04 98.07 8.09
2012-09-30 272.39 101.72 7.59
2012-06-30 284.01 112.04 7.60

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Cofinimmo has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Cofinimmo used its assets less efficiently than the Europe REITs industry average last year based on Return on Assets.
  • Cofinimmo's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Cofinimmo's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the REITs industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Cofinimmo has a total score of 1/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Cofinimmo's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Cofinimmo's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Cofinimmo's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Cofinimmo's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Cofinimmo's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.1x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Cofinimmo Company Filings, last reported 1 month ago.

WBAG:COFB Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 2,188.82 1,584.53 35.06
2018-12-31 2,166.36 1,674.37 27.18
2018-09-30 2,165.08 1,614.98 37.46
2018-06-30 1,964.53 1,715.61 33.61
2018-03-31 2,052.95 1,428.58 23.85
2017-12-31 1,986.44 1,575.70 22.53
2017-09-30 1,941.07 1,629.02 34.87
2017-06-30 1,907.30 1,628.16 25.95
2017-03-31 1,960.82 1,541.53 28.53
2016-12-31 1,919.46 1,528.77 41.27
2016-09-30 1,892.37 1,584.97 62.40
2016-06-30 1,852.14 1,523.21 29.62
2016-03-31 1,928.05 1,383.53 25.86
2015-12-31 1,924.62 1,340.12 22.04
2015-09-30 1,881.34 1,539.27 22.25
2015-06-30 1,858.60 1,551.17 24.84
2015-03-31 1,612.59 1,737.50 22.35
2014-12-31 1,608.97 1,748.19 17.12
2014-09-30 1,609.42 1,613.45 53.69
2014-06-30 1,597.26 1,650.31 24.36
2014-03-31 1,679.11 1,748.72 16.09
2013-12-31 1,681.46 1,837.35 15.97
2013-09-30 1,673.19 1,745.00 8.70
2013-06-30 1,643.03 1,737.58 12.78
2013-03-31 1,670.86 1,694.86 69.18
2012-12-31 1,542.29 1,785.04 3.04
2012-09-30 1,509.99 1,764.11 2.66
2012-06-30 1,497.98 1,768.90 1.48
  • Cofinimmo's level of debt (72.4%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (104.1% vs 72.4% today).
  • Debt is not well covered by operating cash flow (10.1%, less than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 12x coverage).
X
Financial health checks
We assess Cofinimmo's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Cofinimmo has a total score of 2/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Cofinimmo's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
4.93%
Current annual income from Cofinimmo dividends. Estimated to be 4.8% next year.
If you bought €2,000 of Cofinimmo shares you are expected to receive €99 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Cofinimmo's pays a higher dividend yield than the bottom 25% of dividend payers in Austria (1.44%).
  • Cofinimmo's dividend is above the markets top 25% of dividend payers in Austria (4.5%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
WBAG:COFB Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below
Europe REITs Industry Average Dividend Yield Market Cap Weighted Average of 119 Stocks 4.9%
Austria Market Average Dividend Yield Market Cap Weighted Average of 50 Stocks 3.5%
Austria Minimum Threshold Dividend Yield 10th Percentile 1.1%
Austria Bottom 25% Dividend Yield 25th Percentile 1.4%
Austria Top 25% Dividend Yield 75th Percentile 4.5%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

WBAG:COFB Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2023-12-31 0.00 1.00
2022-12-31 6.20 1.00
2021-12-31 6.05 2.00
2020-12-31 5.78 5.00
2019-12-31 5.60 4.00
WBAG:COFB Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2019-02-07 5.500 4.737
2018-02-08 5.500 5.090
2017-02-09 5.500 5.092
2016-02-04 5.500 5.166
2015-03-30 5.500 5.650
2015-02-06 5.500 5.046
2014-03-21 6.000 6.528
2013-02-08 6.500 7.412
2012-08-01 5.135 5.828
2012-07-16 5.135 5.808
2012-05-02 5.135 6.021
2012-02-10 6.500 7.102
2011-02-11 6.500 6.958
2010-08-03 5.525 5.669
2009-12-31 6.500 6.660
2009-11-16 6.500 6.677
2009-06-30 6.500 7.274

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have fallen over the past 10 years.
Current Payout to shareholders
What portion of Cofinimmo's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.4x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be thoroughly covered by earnings (27.3x coverage).
X
Income/ dividend checks
We assess Cofinimmo's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.1%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Cofinimmo afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Cofinimmo has a total score of 4/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Cofinimmo's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Jean-Pierre Hanin
AGE 52
TENURE AS CEO 1 years
CEO Bio

Mr. Jean-Pierre Hanin has been the Chief Executive Officer and a Director of Cofinimmo SA since May 9, 2018 and has been its Interim Chief Operating Officer since May 31, 2018 and serves as its Managing Director. Mr. Hanin was Special Advisor to the Chairman of the Board of Directors at Cofinimmo SA since March 1, 2018 until May 9, 2018. He was Head of Etex Building Performance Division at Etex SA from March 1, 2016 to January 2018. Mr. Hanin started his career as a business lawyer. His functions led him to operate in various regions all over the world for over 20 years, and to carry out both consolidation and development activities. He served as the Chief Financial Officer of Etex S.A. since joining on September 1, 2013 until May 1, 2015 and served as its Head of Siniat Division since 2014. He served as a Finance Director of Etex S.A. since September 1, 2013. He started his career as a New York and Brussels-based attorney, lastly at Cleary Gottlieb Steen & Hamilton. His main area of expertise includes international mergers & acquisitions, capital markets and taxation. In 1998, he joined the Lhoist Group, the world’s leading producer of lime and dolomite and served as its Group Chief Financial Officer since 2003 and Executive Vice President since 2005. He progressively extended his geographic and managerial responsibilities and was Group Deputy Chief Executive Officer since 2010 and Group Chief Executive Officer. He managed several group projects, e.g. the Sales and Digital project. One year later, he becomes the Head of the Siniat Division, including the newly created dry construction organisation. Mr. Hanin serves as a Member of the Supervisory Board at Creaton AG. Mr. Hanin graduated with a Law degree from the University of Leuven in 1990 and from the Solvay Business School with a Master’s in Tax Management in 1992. In 1993, he obtained a Master’s in Law from Georgetown University, US.

CEO Compensation
  • Insufficient data for Jean-Pierre to compare compensation growth.
  • Insufficient data for Jean-Pierre to establish whether their remuneration is reasonable compared to companies of similar size in Austria.
Management Team Tenure

Average tenure and age of the Cofinimmo management team in years:

1
Average Tenure
52
Average Age
  • The average tenure for the Cofinimmo management team is less than 2 years, this suggests a new team.
Management Team

Jean-Pierre Hanin

TITLE
Interim COO
AGE
52
TENURE
1 yrs

Jean Kotarakos

TITLE
CFO & Executive Director
AGE
45
TENURE
0.9 yrs

Pascale Minet

TITLE
Head of Accounting

Ellen Grauls

TITLE
Head of External Communication and Investor Relations
TENURE
2.3 yrs

Françoise Roels

TITLE
Chief of Corporate Affairs
AGE
57

Chantal Cabuy

TITLE
Chief Human Resources Officer

Jean Van Buggenhout

TITLE
Head of Property Services & Corporate Social Responsibility

Domien Szekér

TITLE
Head of Project Management

Dirk Huysmans

TITLE
Head of Offices Belgium

Sébastien Berden

TITLE
Chief Operating Officer of Healthcare
Board of Directors Tenure

Average tenure and age of the Cofinimmo board of directors in years:

3
Average Tenure
56.5
Average Age
  • The tenure for the Cofinimmo board of directors is about average.
Board of Directors

Jacques Rijckevorsel

TITLE
Chairman of the Board
AGE
68
TENURE
2 yrs

Jean-Pierre Hanin

TITLE
Interim COO
AGE
52
TENURE
1 yrs

Jean Kotarakos

TITLE
CFO & Executive Director
AGE
45
TENURE
1 yrs

Françoise Roels

TITLE
Chief of Corporate Affairs
AGE
57
TENURE
12.1 yrs

Xavier de Walque

TITLE
Director
AGE
53
TENURE
10.1 yrs

Inès Archer-Toper

TITLE
Independent Director
AGE
61
TENURE
6 yrs

Kathleen Van den Eynde

TITLE
Independent Director
AGE
56
TENURE
4 yrs

Diana Monissen

TITLE
Independent Director
AGE
63
TENURE
3 yrs

Olivier Chapelle

TITLE
Independent Director
AGE
54
TENURE
3 yrs

Maurice Gauchot

TITLE
Independent Director
AGE
66
TENURE
3 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
X
Management checks
We assess Cofinimmo's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Cofinimmo has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Company Info

Description

Cofinimmo has been acquiring, developing and managing rental properties for over 35 years. The company has a portfolio spread across Belgium, France, the Netherlands and Germany, with a value of 4 billion EUR. With attention to social developments, Cofinimmo has the mission of making high-quality care, living and working environments available to its partners-tenants, from which users benefit directly. “Caring, Living and Working - Together in Real Estate” is the expression of this mission. Thanks to its expertise, Cofinimmo has built up a healthcare real estate portfolio of almost 2 billion EUR in Europe. As an independent company that applies the highest standards of corporate governance and sustainability, Cofinimmo offers its tenants services and manages its portfolio through a team of over 130 employees in Brussels, Paris, Breda and Frankfurt. Cofinimmo is listed on Euronext Brussels (BEL20) and benefits from the REIT system in Belgium (RREC), France (SIIC) and the Netherlands (FBI). Its activities are supervised by the Financial Services and Markets Authority (FSMA), the Belgian regulator. On 31.03.2019, its total market capitalisation stood at 2.7 billion EUR. The company applies an investment policy aimed at offering a socially responsible, long-term, low-risk investment that generates a regular, predictable and growing dividend.

Details
Name: Cofinimmo SA
COFB
Exchange: WBAG
Founded: 1983
€2,543,470,521
22,795,049
Website: http://www.cofinimmo.com
Address: Cofinimmo SA
Boulevard de la Woluwe 58,
Woluwe-Saint-Lambert,
Brussels,
Brussels, 1200,
Belgium
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
ENXTBR COFB Ordinary Shares Euronext Brussels BE EUR 19. Dec 1994
DB COF Ordinary Shares Deutsche Boerse AG DE EUR 19. Dec 1994
LSE 0J3X Ordinary Shares London Stock Exchange GB EUR 19. Dec 1994
WBAG COFB Ordinary Shares Wiener Boerse AG AT EUR 19. Dec 1994
BATS-CHIXE COFBB Ordinary Shares BATS 'Chi-X Europe' GB EUR 19. Dec 1994
Number of employees
Current staff
Staff numbers
130
Cofinimmo employees.
Industry
Diversified REITs
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/18 22:25
End of day share price update: 2019/05/17 00:00
Last estimates confirmation: 2019/04/30
Last earnings filing: 2019/04/25
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.