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Aventus Group

ASX:AVN
Snowflake Description

Good value average dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
AVN
ASX
A$1B
Market Cap
  1. Home
  2. AU
  3. Real Estate
Company description

The Aventus Group is Australia’s largest fully-integrated owner, manager and developer of large format retail centres in Australia. The last earnings update was 97 days ago. More info.


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AVN Share Price and Events
7 Day Returns
1.8%
ASX:AVN
1.7%
AU REITs
2.9%
AU Market
1 Year Returns
6%
ASX:AVN
18%
AU REITs
4.3%
AU Market
AVN Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Aventus Group (AVN) 1.8% 1.3% 4.1% 6% 2.7% -
AU REITs 1.7% 3.1% 3.9% 18% 17.1% 66.1%
AU Market 2.9% 3.2% 5.5% 4.3% 21% 9.7%
1 Year Return vs Industry and Market
  • AVN underperformed the REITs industry which returned 18% over the past year.
  • AVN outperformed the Market in Australia which returned 4.3% over the past year.
Price Volatility
AVN
Industry
5yr Volatility vs Market

AVN Value

 Is Aventus Group 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 Aventus Group 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 Aventus Group.

ASX:AVN Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity using Adjusted Funds From Operations
Levered Adjusted Funds From Operations Average of 6 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 7.3%
Perpetual Growth Rate 10-Year AU Government Bond Rate 2.3%

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 ASX:AVN
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year AU Govt Bond Rate 2.3%
Equity Risk Premium S&P Global 6%
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- 30%) (63.72%))
0.836
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.84
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.31% + (0.836 * 5.96%)
7.3%

Discounted Cash Flow Calculation for ASX:AVN using 2 Stage Free Cash Flow to Equity using Adjusted Funds From Operations Model

The calculations below outline how an intrinsic value for Aventus Group 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.

Aventus Group 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.

ASX:AVN DCF 1st Stage: Next 10 year cash flow forecast
Adjusted Funds From Operations (AFFO) (AUD, Millions) Source Present Value
Discounted (@ 7.3%)
2019 87.80 Analyst x1 81.83
2020 88.62 Est @ 0.93% 76.97
2021 89.81 Est @ 1.34% 72.70
2022 91.27 Est @ 1.63% 68.86
2023 92.95 Est @ 1.84% 65.36
2024 94.79 Est @ 1.98% 62.12
2025 96.76 Est @ 2.08% 59.10
2026 98.84 Est @ 2.15% 56.26
2027 101.01 Est @ 2.2% 53.59
2028 103.27 Est @ 2.23% 51.06
Present value of next 10 years cash flows A$647.85
ASX:AVN DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= A$103.27 × (1 + 2.31%) ÷ (7.3% – 2.31%)
A$2,119.32
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= A$2,119.32 ÷ (1 + 7.3%)10
A$1,047.87
ASX:AVN Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= A$647.85 + A$1,047.87
A$1,695.72
Equity Value per Share
(AUD)
= Total value / Shares Outstanding
= A$1,695.72 / 535.81
A$3.21
ASX:AVN Discount to Share Price
Calculation Result
Value per share (AUD) From above. A$3.21
Current discount Discount to share price of A$2.30
= -1 x (A$2.30 - A$3.21) / A$3.21
28.3%

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

Current Discount
Amount off the current price Aventus Group is available for.
Intrinsic value
28%
Share price is A$2.3 vs Future cash flow value of A$3.21
Current Discount Checks
For Aventus Group to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Aventus Group's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Aventus Group'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 Aventus Group's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Aventus Group's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
ASX:AVN PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in AUD A$0.25
ASX:AVN Share Price ** ASX (2019-05-21) in AUD A$2.3
Australia REITs Industry PE Ratio Median Figure of 38 Publicly-Listed REITs Companies 11.22x
Australia Market PE Ratio Median Figure of 542 Publicly-Listed Companies 16.09x

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

** Primary Listing of Aventus Group.

ASX:AVN PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= ASX:AVN Share Price ÷ EPS (both in AUD)

= 2.3 ÷ 0.25

9.06x

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

  • Aventus Group is good value based on earnings compared to the AU REITs industry average.
  • Aventus Group is good value based on earnings compared to the Australia market.
Price based on expected Growth
Does Aventus Group's expected growth come at a high price?
Raw Data
ASX:AVN PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 9.06x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts
2.9%per year
Australia REITs Industry PEG Ratio Median Figure of 33 Publicly-Listed REITs Companies 1.04x
Australia Market PEG Ratio Median Figure of 359 Publicly-Listed Companies 1.45x

*Line of best fit is calculated by linear regression .

ASX:AVN PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 9.06x ÷ 2.9%

3.15x

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

  • Aventus Group is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Aventus Group's assets?
Raw Data
ASX:AVN PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in AUD A$2.42
ASX:AVN Share Price * ASX (2019-05-21) in AUD A$2.3
Australia REITs Industry PB Ratio Median Figure of 42 Publicly-Listed REITs Companies 1.11x
Australia Market PB Ratio Median Figure of 1,676 Publicly-Listed Companies 1.65x
ASX:AVN PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= ASX:AVN Share Price ÷ Book Value per Share (both in AUD)

= 2.3 ÷ 2.42

0.95x

* Primary Listing of Aventus Group.

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

  • Aventus Group is good value based on assets compared to the AU REITs industry average.
X
Value checks
We assess Aventus Group'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. Aventus Group has a total score of 4/6, 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.

AVN Future Performance

 How is Aventus Group 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
2.9%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Aventus Group expected to grow at an attractive rate?
  • Aventus Group's earnings growth is expected to exceed the low risk savings rate of 2.3%.
Growth vs Market Checks
  • Aventus Group's earnings growth is positive but not above the Australia market average.
  • Aventus Group's revenue growth is positive but not above the Australia market average.
Annual Growth Rates Comparison
Raw Data
ASX:AVN Future Growth Rates Data Sources
Data Point Source Value (per year)
ASX:AVN Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts 2.9%
ASX:AVN Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 6 Analysts 0.6%
Australia REITs Industry Earnings Growth Rate Market Cap Weighted Average -3.2%
Australia REITs Industry Revenue Growth Rate Market Cap Weighted Average 0.3%
Australia Market Earnings Growth Rate Market Cap Weighted Average 7%
Australia Market Revenue Growth Rate Market Cap Weighted Average 3.2%

*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
ASX:AVN Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below
All numbers in AUD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
ASX:AVN Future Estimates Data
Date (Data in AUD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-06-30 149 1
2022-06-30 143 1
2021-06-30 154 102 130 6
2020-06-30 149 99 135 6
2019-06-30 144 85 121 6
ASX:AVN Past Financials Data
Date (Data in AUD Millions) Revenue Cash Flow Net Income *
2018-12-31 166 99 128
2018-09-30 165 93 132
2018-06-30 165 88 136
2018-03-31 157 48 153
2017-12-31 149 33 170
2017-09-30 140 40 164
2017-06-30 131 46 159
2017-03-31 125 53 148
2016-12-31 120 60 137
2016-09-30 99 46 94
2016-06-30 78 32 51
2016-03-31 52 20 19

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Aventus Group's earnings are expected to grow by 2.9% yearly, however this is not considered high growth (20% yearly).
  • Aventus Group's revenue is expected to grow by 0.6% 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
ASX:AVN Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below

All data from Aventus Group Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ASX:AVN Future Estimates Data
Date (Data in AUD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-06-30
2022-06-30
2021-06-30 0.29 0.29 0.29 1.00
2020-06-30 0.28 0.28 0.28 1.00
2019-06-30 0.26 0.26 0.26 1.00
ASX:AVN Past Financials Data
Date (Data in AUD Millions) EPS *
2018-12-31 0.25
2018-09-30 0.26
2018-06-30 0.28
2018-03-31 0.32
2017-12-31 0.37
2017-09-30 0.38
2017-06-30 0.39
2017-03-31 0.37
2016-12-31 0.35
2016-09-30 0.28
2016-06-30 0.18
2016-03-31 0.10

*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.
  • Aventus Group is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Aventus Group'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 Australia market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Australia 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.
Aventus Group has a total score of 1/6, 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.

AVN Past Performance

  How has Aventus Group 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 Aventus Group'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.
  • Aventus Group has delivered over 20% year on year earnings growth in the past 5 years.
  • Aventus Group's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Aventus Group's 1-year earnings growth is negative, it can't be compared to the AU REITs industry average.
Earnings and Revenue History
Aventus Group'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 Aventus Group Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ASX:AVN Past Revenue, Cash Flow and Net Income Data
Date (Data in AUD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 165.70 127.70 2.20
2018-09-30 165.15 131.65 2.50
2018-06-30 164.60 135.60 2.80
2018-03-31 156.70 152.60 5.95
2017-12-31 148.80 169.60 9.10
2017-09-30 139.70 164.25 7.70
2017-06-30 130.60 158.90 6.30
2017-03-31 125.45 148.15 3.15
2016-12-31 120.30 137.40
2016-09-30 98.95 94.20
2016-06-30 77.60 51.00
2016-03-31 52.05 19.09
2015-12-31 26.50 -12.82
2015-09-30 17.55 -0.71
2015-06-30 8.60 11.40

*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.
  • Aventus Group has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Aventus Group used its assets more efficiently than the AU REITs industry average last year based on Return on Assets.
  • Aventus Group has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Aventus Group'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.
Aventus Group has a total score of 3/6, 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.

AVN Health

 How is Aventus Group'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 Aventus Group's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Aventus Group's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Aventus Group's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Aventus Group'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 0x 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 Aventus Group Company Filings, last reported 4 months ago.

ASX:AVN Past Debt and Equity Data
Date (Data in AUD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 1,283.90 775.00 10.70
2018-09-30 1,283.90 775.00 10.70
2018-06-30 1,175.20 676.20 3.60
2018-03-31 1,175.20 676.20 3.60
2017-12-31 1,151.30 700.80 3.30
2017-09-30 1,151.30 700.80 3.30
2017-06-30 1,111.70 328.20 33.90
2017-03-31 1,111.70 328.20 33.90
2016-12-31 832.40 463.70 2.90
2016-09-30 832.40 463.70 2.90
2016-06-30 796.40 462.60 4.30
2016-03-31 796.40 462.60 4.30
2015-12-31 647.98 316.26 5.75
2015-09-30 647.98 316.26 5.75
2015-06-30 39.10 55.90 0.30
  • Aventus Group's level of debt (60.4%) compared to net worth is high (greater than 40%).
  • Unable to establish if Aventus Group's debt level has increased without past 5-year debt data.
  • Debt is not well covered by operating cash flow (12.7%, less than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 3.9x coverage).
X
Financial health checks
We assess Aventus Group'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. Aventus Group has a total score of 1/6, 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.

AVN Dividends

 What is Aventus Group'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
7.23%
Current annual income from Aventus Group dividends. Estimated to be 7.38% next year.
If you bought A$2,000 of Aventus Group shares you are expected to receive A$145 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?
  • Aventus Group's pays a higher dividend yield than the bottom 25% of dividend payers in Australia (2.66%).
  • Aventus Group's dividend is above the markets top 25% of dividend payers in Australia (5.74%).
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
ASX:AVN 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
Australia REITs Industry Average Dividend Yield Market Cap Weighted Average of 40 Stocks 4.6%
Australia Market Average Dividend Yield Market Cap Weighted Average of 415 Stocks 4.2%
Australia Minimum Threshold Dividend Yield 10th Percentile 1.6%
Australia Bottom 25% Dividend Yield 25th Percentile 2.7%
Australia Top 25% Dividend Yield 75th Percentile 5.7%

Industry and Market average data is calculated daily.

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

ASX:AVN Future Dividends Estimate Data
Date (Data in A$) Dividend per Share (annual) Avg. No. Analysts
2023-06-30 0.18 1.00
2022-06-30 0.18 1.00
2021-06-30 0.17 6.00
2020-06-30 0.17 6.00
2019-06-30 0.16 6.00
ASX:AVN Past Annualized Dividends Data
Date (Data in A$) Dividend per share (annual) Avg. Yield (%)
2019-03-22 0.166 7.348
2018-12-14 0.166 7.677
2018-09-20 0.164 7.853
2018-06-22 0.163 7.320
2018-03-22 0.163 7.447
2017-12-20 0.163 7.527
2017-09-25 0.162 7.020
2017-06-22 0.161 7.014
2017-03-23 0.161 6.600
2016-12-20 0.158 6.831
2016-06-22 0.147 6.275
2016-03-21 0.147 6.781
2015-12-17 0.116 5.700

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

  • Whilst dividend payments have been stable, Aventus Group has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but Aventus Group only paid a dividend in the past 3 years.
Current Payout to shareholders
What portion of Aventus Group's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.2x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be thoroughly covered by earnings (602.4x coverage).
X
Income/ dividend checks
We assess Aventus Group's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.6%) - 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 Aventus Group afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Aventus Group 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.

AVN Management

 What is the CEO of Aventus Group'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
Darren Holland
TENURE AS CEO 3.9 years
CEO Bio

Mr. Darren Holland has been Chief Executive Officer of Aventus Capital Limited since June 22, 2015 and serves as its Executive Director. Mr. Holland serves as the Chief Executive Officer of Property at BB Retail Capital Pty Ltd. He joined BB Retail Capital Pty Ltd in 2004. Mr. Holland is responsible for identification and acquisition of long-term retail assets and development and adding value to the current property portfolio. Prior to joining the firm, he was behind the creation of Homemaker Retail Group. Prior to joining Aventus Property Group, he played a leading role in the development and management of the only other pure-play listed LFR owner and operator to date, Homemaker Retail Group. Mr. Holland played a leading role in the development and management of 13 Christie Homemaker Centers throughout Australia with 200 retail showrooms valued at $300 million. He has more than 25 years’ experience in the property industry as a specialist in the sector of retail property. Mr. Holland’s skills are multidisciplinary including acquisition, development, leasing and management of bulky goods and traditional retail centers. He is a Licensed Real Estate Agent (LREA) and a Registered Valuer. Mr. Holland holds a Bachelor of Business (Land Economics) from the University of Western Sydney and is a Registered Valuer and Licensed Real Estate Agent.

CEO Compensation
  • Insufficient data for Darren to compare compensation growth.
  • Insufficient data for Darren to establish whether their remuneration is reasonable compared to companies of similar size in Australia.
Management Team

Darren Holland

TITLE
CEO & Executive Director of Aventus Capital Limited
TENURE
3.9 yrs

Lawrence Wong

TITLE
CFO & Company Secretary of Aventus Capital Limited

Gary Jones

TITLE
Head of Asset Management

Mary Weaver

TITLE
Company Secretary of Aventus Capital Limited
Board of Directors Tenure

Average tenure and age of the Aventus Group board of directors in years:

3.2
Average Tenure
58
Average Age
  • The tenure for the Aventus Group board of directors is about average.
Board of Directors

Bruce Carter

TITLE
Independent Non-Executive Chairman
AGE
59
TENURE
3.2 yrs

Darren Holland

TITLE
CEO & Executive Director of Aventus Capital Limited
TENURE
3.2 yrs

Kieran Pryke

TITLE
Independent Non-Executive Director of Aventus Capital Limited
TENURE
3.2 yrs

Brett Blundy

TITLE
Non-Executive Director of Aventus Capital Limited
AGE
58
TENURE
1.8 yrs

Robyn Stubbs

TITLE
Independent Non-Executive Director of Aventus Capital Limited
AGE
54
TENURE
3.2 yrs

Nico van der Merwe

TITLE
Alternate Director of Aventus Capital Limited
TENURE
1.8 yrs
Who owns this company?
Recent Insider Trading
  • Aventus Group insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (A$) Value (A$)
20. Mar 19 Sell Brett Blundy Individual 13. Mar 19 15. Mar 19 -908,328 A$2.25 A$-2,042,863
06. Mar 19 Buy Colonial First State Asset Management (Australia) Limited Company 05. Mar 19 05. Mar 19 498,475 A$2.24 A$1,118,311
28. Feb 19 Buy Realindex Investments Pty Limited Company 08. Nov 18 12. Feb 19 1,028,768 A$2.07 A$2,130,724
28. Feb 19 Buy Colonial First State Asset Management (Australia) Limited Company 05. Nov 18 27. Feb 19 3,657,353 A$2.09 A$7,640,266
26. Sep 18 Sell APN Funds Management Ltd. Company 05. Jul 18 25. Sep 18 -557,980 A$2.29 A$-1,224,331
26. Sep 18 Buy APN Funds Management Ltd. Company 22. Mar 18 05. Sep 18 290,556 A$2.34 A$649,612
X
Management checks
We assess Aventus Group'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. Aventus Group 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.

AVN News

Simply Wall St News

Is Aventus Group (ASX:AVN) A Risky Dividend Stock?

Yet sometimes, investors buy a popular dividend stock because of its yield, and then lose money if the company's dividend doesn't live up to expectations. … Some simple analysis can offer a lot of insight when buying a company for its dividend, and we'll go through these below. … ASX:AVN Historical Dividend Yield, April 22nd 2019

Simply Wall St -

One Metric To Rule Them All: Aventus Group (ASX:AVN)

real estate investment trust (REIT) based in Sydney, Australia. … A common financial term REIT investors should know is Funds from Operations, or FFO for short, which is a REIT's main source of income from its portfolio of property, such as rent … FFO is a cleaner and more representative figure of how much AVN actually makes from its day-to-day operations, compared to net income, which can be affected by one-off activities or non-cash items such as depreciation

Simply Wall St -

If You Had Bought Aventus Group (ASX:AVN) Shares Three Years Ago You'd Have Made 10%

For example, the Aventus Group (ASX:AVN) share price return of 10% over three years lags the market return in the same period. … One way to examine how market sentiment has changed over time is to look at the interaction between a company's share price and its earnings per share (EPS). … During three years of share price growth, Aventus Group moved from a loss to profitability.

Simply Wall St -

Taking A Look At Aventus Group's (ASX:AVN) ROE

Our data shows Aventus Group has a return on equity of 9.7% for the last year. … One way to conceptualize this, is that for each A$1 of shareholders' equity it has, the company made A$0.097 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

What Should We Expect From Aventus Group's (ASX:AVN) Earnings In The Years Ahead?

The latest earnings announcement Aventus Group (ASX:AVN) released in June 2018a … suggested

Simply Wall St -

Read This Before Selling Aventus Group (ASX:AVN) Shares

So before you buy or sell Aventus Group (ASX:AVN), you may well want to know whether insiders have been buying or selling. … The Last 12 Months Of Insider Transactions At Aventus Group. … In the last twelve months there was more buying than selling by Aventus Group insiders

Simply Wall St -

Is Aventus Group’s (ASX:AVN) Cash Outlook Optimistic?

Two important questions to ask before you buy Aventus Group (ASX:AVN) is, how it makes money and how it spends its cash. … Today we will examine Aventus Group’s ability to generate cash flows, as well as the level of capital expenditure it is expected to incur over the next couple of years, which will result in how much money goes to you. … There are two methods I will use to evaluate the quality of Aventus Group’s FCF: firstly, I will measure its FCF yield relative to the market index yield; secondly, I will examine whether its operating cash flow will continue to grow into the future, which will give us a sense of sustainability

Simply Wall St -

Do Insiders Own Shares In Aventus Group (ASX:AVN)?

A look at the shareholders of Aventus Group (ASX:AVN) can tell us which group is most powerful. … Large companies usually have institutions as shareholders, and we usually see insiders owning shares in smaller companies. … Aventus Group has a market capitalization of AU$1.1b, so we would expect some institutional investors to have noticed the stock.

Simply Wall St -

Aventus Retail Property Fund (ASX:AVN): Can It Deliver A Superior ROE To The Industry?

and want to start learning about core concepts of fundamental analysis on practical examples from today's market. … Aventus Retail Property Fund (ASX:AVN) delivered an ROE of 11.5% over the past 12 months, which is relatively in-line with its industry average of 12.1% during the same period. … See our latest analysis for Aventus Retail Property Fund

Simply Wall St -

Aventus Retail Property Fund (ASX:AVN): How Much Money Comes Back To Investors?

Two important questions to ask before you buy Aventus Retail Property Fund (ASX:AVN) is, how it makes money and how it spends its cash. … I’ve analysed below, the health and outlook of Aventus Retail Property Fund’s cash flow, which will help you understand the stock from a cash standpoint. … Aventus Retail Property Fund’s free cash flow (FCF) is the level of cash flow the business generates from its operational activities, after it reinvests in the company as capital expenditure

Simply Wall St -

AVN Company Info

Description

The Aventus Group is Australia’s largest fully-integrated owner, manager and developer of large format retail centres in Australia. The Aventus Group comprises Aventus Holdings Limited and Aventus Capital Limited as the responsible entity for Aventus Retail Property Fund. We are the largest fully-integrated owner, manager and developer of large format retail centres in Australia, with a portfolio of 20 centres valued at $1.9 billion. The Aventus Group portfolio spans 535,000m2 in gross leasable area and features a diverse tenant base of 584 quality tenancies, with national tenants representing 86 per cent of the total portfolio. Our team of more than 60 professionals offer expertise in investment management, asset management and corporate services, delivering operational excellence and value at every stage of the investment cycle. The Aventus Group was created in October 2018 on the internalisation and stapling of AHL and the Fund, where each share issued in AHL was stapled to a unit in the Fund. It is listed on the Australian Securities Exchange (ASX:AVN) and designed to ensure the Aventus Board is directly accountable to investors. Our single-sector focus has allowed Aventus to achieve sustainable income growth since the Fund was listed in October 2015, with consistently high occupancy, positive leasing spreads and low incentives across the portfolio. The combination of active portfolio management, value-enhancing developments and strategic acquisitions have contributed to a total Securityholder return of 12.7 per cent since IPO of the Fund in October 2015.

Details
Name: Aventus Group
AVN
Exchange: ASX
Founded:
A$1,216,285,024
535,808,381
Website: http://www.aventusgroup.com.au
Address: Aventus Group
Governor Macquarie Tower,
Level 33,
Sydney,
New South Wales, 2000,
Australia
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
ASX AVN UNITS Australian Securities Exchange AU AUD 16. Oct 2015
ASX AVNDA UNITS DFD 01/10/18 (EX-RECO Australian Securities Exchange AU AUD 27. Sep 2018
Number of employees
Current staff
Staff numbers
0
Aventus Group employees.
Industry
Retail REITs
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/21 10:39
End of day share price update: 2019/05/21 00:00
Last estimates confirmation: 2019/03/11
Last earnings filing: 2019/02/13
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/06/30


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.