Cofinimmo
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Cofinimmo has been acquiring, developing and managing rental properties for over 35 years. The last earnings update was 23 days ago. More info.
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COFB Share Price and Events
7 Day Returns
1 Year Returns
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.
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.
Below are the data sources, inputs and calculation used to determine the intrinsic value for Cofinimmo.
| 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.
| 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.
| 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 | ||
| 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 |
| 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 |
| 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
Current Discount Checks
- 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?
| 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.
| 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?
| 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 .
| 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?
| 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 |
| 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.
Value checks
We assess Cofinimmo's value by looking at:- 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. )
- Is the PE ratio less than the market average, and/ or less than the REITs industry average (and greater than 0)? (2 checks)
- Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
- Is the PB ratio less than the REITs industry average (and greater than 0)? (1 check) 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!
Earnings growth vs Low Risk Savings
- 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
| 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
| 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 |
| 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 |
| 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.
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.
| 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 |
| 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.
Future performance checks
We assess Cofinimmo's future performance by looking at:- Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
- Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Europe market? (1 check)
- Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe market? (1 check)
- Is the annual earnings growth rate expected to be above 20%? (1 check)
- Is the annual revenue growth rate expected to be above 20%? (1 check)
- Is the Return on Equity in 3 years expected to be over 20%? (1 check)
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
Past Earnings growth analysis
- 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
All data from Cofinimmo Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| 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).
Past performance checks
We assess Cofinimmo's performance over the past 5 years by checking for:- Has earnings increased in past 5 years? (1 check)
- Has the earnings growth in the last year exceeded that of the REITs industry? (1 check)
- Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
- Is the Return on Equity (ROE) higher than 20%? (1 check)
- Is the Return on Assets (ROA) above industry average? (1 check)
- Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
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.
- 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
Assets
Liabilities and shares
- 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.
All data from Cofinimmo Company Filings, last reported 1 month ago.
| 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).
Financial health checks
We assess Cofinimmo's financial health by checking for:- Are short term assets greater than short term liabilities? (1 check)
- Are short term assets greater than long term liabilities? (1 check)
- Has the debt to equity ratio increased in the past 5 years? (1 check)
- Is the debt to equity ratio over 40%? (1 check)
- Is the debt covered by operating cash flow? (1 check)
- Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check) Cofinimmo has a total score of 2/6, see the detailed checks below.
- Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
- 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
If you bought
€2,000 of
Cofinimmo
shares you are expected to receive
€99
in your first year as a dividend.
Dividend Amount
- 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.
| 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.
| 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 |
| 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).
- Dividends after 3 years are expected to be thoroughly covered by earnings (27.3x coverage).
Income/ dividend checks
We assess Cofinimmo's dividend by checking for:- Firstly is the company paying a notable dividend (greater than 1.1%) - if not then the rest of the checks are ignored.
- Is current dividend yield above the bottom 25% of dividend payers? (1 check)
- Is current dividend yield above the top 25% of dividend payers? (1 check)
- Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
- If they have paid a dividend for 10 years has it increased in this time? (1 check)
- 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) 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
CEO
| 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:
- The average tenure for the Cofinimmo management team is less than 2 years, this suggests a new team.
Management Team
Jean-Pierre Hanin
Interim COO
52
1 yrs
Jean Kotarakos
CFO & Executive Director
45
0.9 yrs
Pascale Minet
Head of Accounting
Ellen Grauls
Head of External Communication and Investor Relations
2.3 yrs
Françoise Roels
Chief of Corporate Affairs
57
Chantal Cabuy
Chief Human Resources Officer
Jean Van Buggenhout
Head of Property Services & Corporate Social Responsibility
Domien Szekér
Head of Project Management
Dirk Huysmans
Head of Offices Belgium
Sébastien Berden
Chief Operating Officer of Healthcare
Board of Directors Tenure
Average tenure and age of the Cofinimmo board of directors in years:
- The tenure for the Cofinimmo board of directors is about average.
Board of Directors
Jacques Rijckevorsel
Chairman of the Board
68
2 yrs
Jean-Pierre Hanin
Interim COO
52
1 yrs
Jean Kotarakos
CFO & Executive Director
45
1 yrs
Françoise Roels
Chief of Corporate Affairs
57
12.1 yrs
Xavier de Walque
Director
53
10.1 yrs
Inès Archer-Toper
Independent Director
61
6 yrs
Kathleen Van den Eynde
Independent Director
56
4 yrs
Diana Monissen
Independent Director
63
3 yrs
Olivier Chapelle
Independent Director
54
3 yrs
Maurice Gauchot
Independent Director
66
3 yrs
Who owns this company?
Recent Insider Transactions
| Announced | Type | Name | Entity | Role | Start | End | Shares | Max Price (€) | Value (€) | |
|---|---|---|---|---|---|---|---|---|---|---|
Management checks
We assess Cofinimmo's management by checking for:- Is the CEO's compensation unreasonable compared to market cap? (1 check)
- Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
- Is the average tenure of the management team less than 2 years? (1 check)
- Is the average tenure of the board of directors team less than 3 years? (1 check) 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.
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
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.
