Declared Dividend • May 03
Dividend of €1.68 announced Shareholders will receive a dividend of €1.68. Ex-date: 7th May 2026 Payment date: 11th May 2026 Dividend yield will be 5.1%, which is higher than the industry average of 1.8%. Sustainability & Growth Dividend is not covered by earnings (169% earnings payout ratio) nor is it adequately covered by cash flows (100% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 87% to bring the payout ratio under control. EPS is expected to grow by 43% over the next 3 years, which means the dividend may need to be reduced to reach a sustainable payout ratio. New Risk • Apr 06
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. Payout ratio: 169% Cash payout ratio: 100% Dividend yield: 7.9% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risk Dividend is not well covered by earnings and cash flows. Payout ratio: 169% Cash payout ratio: 100% Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (8.8% net profit margin). Announcement • Apr 04
Van de Velde NV to Report First Half, 2027 Results on Sep 01, 2027 Van de Velde NV announced that they will report first half, 2027 results on Sep 01, 2027 Announcement • Apr 03
Van de Velde NV to Report Fiscal Year 2026 Results on Mar 04, 2027 Van de Velde NV announced that they will report fiscal year 2026 results on Mar 04, 2027 Major Estimate Revision • Mar 12
Consensus EPS estimates fall by 12% The consensus outlook for earnings per share (EPS) in fiscal year 2026 has deteriorated. 2026 revenue forecast decreased from €217.7m to €211.8m. EPS estimate also fell from €2.72 per share to €2.38 per share. Net income forecast to grow 72% next year vs 24% growth forecast for Luxury industry in Belgium. Consensus price target of €38.50 unchanged from last update. Share price fell 5.5% to €30.25 over the past week. Reported Earnings • Mar 06
Full year 2025 earnings released Full year 2025 results: Revenue: €207.4m (flat on FY 2024). Net income: €17.8m (down 45% from FY 2024). Profit margin: 8.6% (down from 16% in FY 2024). Revenue is forecast to grow 3.2% p.a. on average during the next 2 years, compared to a 6.2% growth forecast for the Luxury industry in Europe. New Risk • Mar 05
New major risk - Revenue and earnings growth Revenue has declined by 2.3% over the past year. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If revenues are declining, then it is difficult for the company to prevent its earnings from declining as well. A trend of falling revenue can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Revenue has declined by 2.3% over the past year. Minor Risks Latest financial reports are more than 6 months old (reported December 2024 fiscal period end). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. New Risk • Oct 13
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Minor Risks Latest financial reports are more than 6 months old (reported December 2024 fiscal period end). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Upcoming Dividend • May 02
Upcoming dividend of €1.68 per share Eligible shareholders must have bought the stock before 08 May 2025. Payment date: 12 May 2025. Payout ratio and cash payout ratio are on the higher end at 95% and 75% respectively. Trailing yield: 7.3%. Within top quartile of Belgian dividend payers (6.8%). Higher than average of industry peers (2.1%). Declared Dividend • Mar 31
Dividend of €1.68 announced Shareholders will receive a dividend of €1.68. Ex-date: 8th May 2025 Payment date: 12th May 2025 Dividend yield will be 5.4%, which is higher than the industry average of 1.8%. Sustainability & Growth Dividend is not adequately covered by earnings (95% earnings payout ratio). However, it is covered by cash flows (75% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 5.8% to bring the payout ratio under control. EPS is expected to grow by 15% over the next 3 years, which is sufficient to bring the dividend into a sustainable range. Reported Earnings • Mar 30
Full year 2024 earnings released: EPS: €2.52 (vs €2.61 in FY 2023) Full year 2024 results: EPS: €2.52 (down from €2.61 in FY 2023). Revenue: €211.3m (flat on FY 2023). Net income: €32.0m (down 4.7% from FY 2023). Profit margin: 15% (in line with FY 2023). Revenue is forecast to grow 3.1% p.a. on average during the next 3 years, compared to a 7.5% growth forecast for the Luxury industry in Europe. Over the last 3 years on average, earnings per share has fallen by 1% per year whereas the company’s share price has fallen by 6% per year. New Risk • Mar 23
New major risk - Financial data availability The company's latest financial reports are more than a year old. Last reported fiscal period ended December 2023. This is considered a major risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. In the worst case scenario, it may be facing other major going concern issues jeopardizing its viability as a listed company. Currently, the following risks have been identified for the company: Major Risk Latest financial reports are more than 1 year old (reported December 2023 fiscal period end). Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Announcement • Feb 27
Van de Velde NV to Report Fiscal Year 2025 Results on Mar 05, 2026 Van de Velde NV announced that they will report fiscal year 2025 results on Mar 05, 2026 New Risk • Oct 08
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Minor Risks Latest financial reports are more than 6 months old (reported December 2023 fiscal period end). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Price Target Changed • Sep 01
Price target decreased by 12% to €36.50 Down from €41.50, the current price target is an average from 2 analysts. New target price is 14% above last closing price of €32.05. Stock is down 2.9% over the past year. The company posted earnings per share of €2.61 last year. Upcoming Dividend • Apr 25
Upcoming dividend of €1.68 per share Eligible shareholders must have bought the stock before 02 May 2024. Payment date: 06 May 2024. Payout ratio is on the higher end at 92%, however this is supported by cash flows. Trailing yield: 6.9%. Within top quartile of Belgian dividend payers (6.9%). Higher than average of industry peers (1.6%). Reported Earnings • Mar 25
Full year 2023 earnings released: EPS: €2.61 (vs €2.82 in FY 2022) Full year 2023 results: EPS: €2.61 (down from €2.82 in FY 2022). Revenue: €217.3m (up 2.6% from FY 2022). Net income: €33.6m (down 8.7% from FY 2022). Profit margin: 16% (down from 17% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 3.5% p.a. on average during the next 3 years, compared to a 7.3% growth forecast for the Luxury industry in Europe. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. New Risk • Mar 17
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Minor Risks Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Upcoming Dividend • Apr 21
Upcoming dividend of €1.54 per share at 6.2% yield Eligible shareholders must have bought the stock before 28 April 2023. Payment date: 03 May 2023. Payout ratio is on the higher end at 80%, and the cash payout ratio is above 100%. Trailing yield: 6.2%. Within top quartile of Belgian dividend payers (6.1%). Higher than average of industry peers (1.3%). Reported Earnings • Mar 27
Full year 2022 earnings released: EPS: €2.82 (vs €2.43 in FY 2021) Full year 2022 results: EPS: €2.82 (up from €2.43 in FY 2021). Revenue: €217.2m (up 11% from FY 2021). Net income: €36.8m (up 15% from FY 2021). Profit margin: 17% (in line with FY 2021). Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has only increased by 20% per year, which means it is significantly lagging earnings growth. Buying Opportunity • Dec 23
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 6.8%. The fair value is estimated to be €38.60, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 24%. Buying Opportunity • Dec 07
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 18%. The fair value is estimated to be €38.40, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 24%. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 7 non-independent directors. Independent Director Dirk Goeminne was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Sep 03
First half 2022 earnings released: EPS: €1.75 (vs €0 in 1H 2021) First half 2022 results: EPS: €1.75 (up from €0 in 1H 2021). Revenue: €117.0m (up 20% from 1H 2021). Net income: €22.9m (up 26% from 1H 2021). Profit margin: 20% (up from 19% in 1H 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is expected to shrink by 2.0% compared to a 9.9% growth forecast for the Luxury industry in Belgium. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Apr 27
Upcoming dividend of €1.40 per share Eligible shareholders must have bought the stock before 03 May 2022. Payment date: 05 May 2022. Payout ratio is on the higher end at 83%, however this is supported by cash flows. Trailing yield: 5.3%. Lower than top quartile of Belgian dividend payers (5.4%). Higher than average of industry peers (1.6%). Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 6 non-independent directors. Independent Director Dirk Goeminne was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Mar 31
Full year 2021 earnings released: EPS: €2.43 (vs €1.11 in FY 2020) Full year 2021 results: EPS: €2.43 (up from €1.11 in FY 2020). Revenue: €195.3m (up 28% from FY 2020). Net income: €32.0m (up 118% from FY 2020). Profit margin: 16% (up from 9.7% in FY 2020). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 4.0%, compared to a 14% growth forecast for the industry in Belgium. Over the last 3 years on average, earnings per share has increased by 5% per year whereas the company’s share price has increased by 7% per year. Buying Opportunity • Feb 21
Now 21% undervalued Over the last 90 days, the stock is up 2.2%. The fair value is estimated to be €41.13, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 9.9% per annum over the last 3 years. Earnings per share has declined by 30% over the last year. Buying Opportunity • Jan 24
Now 24% undervalued The stock has been flat over the last 90 days. The fair value is estimated to be €41.18, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 9.9% per annum over the last 3 years. Earnings per share has declined by 30% over the last year. Reported Earnings • Sep 06
First half 2021 earnings released The company reported a strong first half result with improved earnings, revenues and profit margins. First half 2021 results: Revenue: €97.6m (up 32% from 1H 2020). Net income: €18.2m (up 264% from 1H 2020). Profit margin: 19% (up from 6.8% in 1H 2020). The increase in margin was driven by higher revenue. Valuation Update With 7 Day Price Move • Sep 02
Investor sentiment improved over the past week After last week's 20% share price gain to €28.00, the stock trades at a trailing P/E ratio of 25.3x. Average forward P/E is 27x in the Luxury industry in Europe. Total returns to shareholders of 12% over the past three years. Price Target Changed • Sep 01
Price target increased to €28.00 Up from €23.00, the current price target is provided by 1 analyst. New target price is 5.7% above last closing price of €26.50. Stock is up 24% over the past year. Upcoming Dividend • Apr 28
Upcoming dividend of €0.70 per share Eligible shareholders must have bought the stock before 04 May 2021. Payment date: 06 May 2021. Trailing yield: 7.9%. Within top quartile of Belgian dividend payers (4.5%). Higher than average of industry peers (1.0%). Reported Earnings • Mar 27
Full year 2020 earnings released The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: €152.3m (down 22% from FY 2019). Net income: €14.7m (down 31% from FY 2019). Profit margin: 9.7% (down from 11% in FY 2019). The decrease in margin was driven by lower revenue. Is New 90 Day High Low • Mar 10
New 90-day high: €23.85 The company is up 4.0% from its price of €22.90 on 10 December 2020. The Belgian market is up 1.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Luxury industry, which is up 7.0% over the same period. Is New 90 Day High Low • Dec 03
New 90-day high: €23.85 The company is up 17% from its price of €20.45 on 04 September 2020. The Belgian market is up 9.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Luxury industry, which is up 16% over the same period. Announcement • Sep 10
Van de Velde NV to Report Fiscal Year 2020 Results on Feb 25, 2021 Van de Velde NV announced that they will report fiscal year 2020 results on Feb 25, 2021