ENXTBR:GBLB

Stock Analysis Report

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Executive Summary

Groupe Bruxelles Lambert SA invests in a portfolio of industrial and services companies operating in various sectors.


Snowflake Analysis

Average dividend payer with mediocre balance sheet.

Share Price & News

How has Groupe Bruxelles Lambert's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: GBLB has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

1.5%

GBLB

3.4%

BE Diversified Financial

3.0%

BE Market


1 Year Return

-4.0%

GBLB

-5.1%

BE Diversified Financial

-20.1%

BE Market

Return vs Industry: GBLB exceeded the Belgian Diversified Financial industry which returned -5.1% over the past year.

Return vs Market: GBLB exceeded the Belgian Market which returned -20.1% over the past year.


Shareholder returns

GBLBIndustryMarket
7 Day1.5%3.4%3.0%
30 Day2.7%1.7%-1.3%
90 Day15.3%11.1%13.8%
1 Year-0.8%-4.0%-3.1%-5.1%-18.8%-20.1%
3 Year-4.6%-11.8%-12.0%-17.9%-24.0%-28.6%
5 Year29.4%13.6%13.3%1.4%-13.1%-22.5%

Price Volatility Vs. Market

How volatile is Groupe Bruxelles Lambert's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Groupe Bruxelles Lambert undervalued compared to its fair value and its price relative to the market?

17.71x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: GBLB (€77.72) is trading above our estimate of fair value (€37.97)

Significantly Below Fair Value: GBLB is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: GBLB is poor value based on its PE Ratio (17.7x) compared to the BE Diversified Financial industry average (9.5x).

PE vs Market: GBLB is poor value based on its PE Ratio (17.7x) compared to the Belgian market (13.9x).


Price to Earnings Growth Ratio

PEG Ratio: GBLB is poor value based on its PEG Ratio (9.1x)


Price to Book Ratio

PB vs Industry: GBLB is good value based on its PB Ratio (0.7x) compared to the BE Diversified Financial industry average (0.9x).


Next Steps

Future Growth

How is Groupe Bruxelles Lambert forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

2.0%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: GBLB's forecast earnings growth (2% per year) is above the savings rate (1.6%).

Earnings vs Market: GBLB's earnings (2% per year) are forecast to grow slower than the Belgian market (26.1% per year).

High Growth Earnings: GBLB's earnings are forecast to grow, but not significantly.

Revenue vs Market: GBLB's revenue is expected to decline over the next 3 years (-3.5% per year).

High Growth Revenue: GBLB's revenue is forecast to decline over the next 3 years (-3.5% per year).


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: GBLB's Return on Equity is forecast to be low in 3 years time (2.1%).


Next Steps

Past Performance

How has Groupe Bruxelles Lambert performed over the past 5 years?

-4.2%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: GBLB has a large one-off loss of €212.0M impacting its June 30 2020 financial results.

Growing Profit Margin: GBLB became profitable in the past.


Past Earnings Growth Analysis

Earnings Trend: GBLB's earnings have declined by 4.2% per year over the past 5 years.

Accelerating Growth: GBLB has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.

Earnings vs Industry: GBLB has become profitable in the last year, making it difficult to compare its past year earnings growth to the Diversified Financial industry (4%).


Return on Equity

High ROE: GBLB's Return on Equity (4%) is considered low.


Next Steps

Financial Health

How is Groupe Bruxelles Lambert's financial position?


Financial Position Analysis

Short Term Liabilities: GBLB's short term assets (€5.0B) exceed its short term liabilities (€3.4B).

Long Term Liabilities: GBLB's short term assets (€5.0B) do not cover its long term liabilities (€6.9B).


Debt to Equity History and Analysis

Debt Level: GBLB's debt to equity ratio (37.4%) is considered satisfactory.

Reducing Debt: GBLB's debt to equity ratio has increased from 26% to 37.4% over the past 5 years.

Debt Coverage: GBLB's debt is not well covered by operating cash flow (18.8%).

Interest Coverage: GBLB's interest payments on its debt are well covered by EBIT (7.2x coverage).


Balance Sheet


Next Steps

Dividend

What is Groupe Bruxelles Lambert current dividend yield, its reliability and sustainability?

4.05%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: GBLB's dividend (4.05%) is higher than the bottom 25% of dividend payers in the Belgian market (2.51%).

High Dividend: GBLB's dividend (4.05%) is low compared to the top 25% of dividend payers in the Belgian market (5.33%).


Stability and Growth of Payments

Stable Dividend: GBLB's dividends per share have been stable in the past 10 years.

Growing Dividend: GBLB's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonable payout ratio (71.8%), GBLB's dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: GBLB's dividends in 3 years are not forecast to be well covered by earnings (93.8% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

3.8yrs

Average management tenure


CEO

Ian Gallienne (49 yo)

no data

Tenure

€1,892,904

Compensation

Mr. Ian Gallienne is Chief Executive Officer at Groupe Bruxelles Lambert SA. He was Co-Chief Executive Officer of Groupe Bruxelles Lambert SA since January 1, 2012 and serves as Managing Director. Mr. Gall ...


CEO Compensation Analysis

Compensation vs Market: Ian's total compensation ($USD2.24M) is about average for companies of similar size in the Belgian market ($USD2.38M).

Compensation vs Earnings: Ian's compensation has been consistent with company performance over the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Ian Gallienne
CEO, MD & Directorno data€1.89m0.013%
€ 1.6m
Xavier Likin
Chief Financial Officer3yrsno datano data
Colin Hall
Head of Investments4.58yrsno datano data
Sophie Gallaire
Head of Investor Relationsno datano datano data
Priscilla Maters
Chief Legal Officer & General Secretary3.83yrsno datano data
Pierre Donnea
Compliance Officerno datano datano data
Pascal Reynaerts
Head of Taxationno datano datano data
Emile Quevrin
Honorary Managing Directorno datano datano data
Jacques Moulaert
Honorary Managing Directorno datano datano data
Philippe Lorette
Head of Accountsno datano datano data
Philippe Debelle
Head of Accountsno datano datano data
Laurence Flamme
Head of Research and Documentation Serviceno datano datano data

3.8yrs

Average Tenure

49.5yo

Average Age

Experienced Management: GBLB's management team is considered experienced (3.8 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Ian Gallienne
CEO, MD & Directorno data€1.89m0.013%
€ 1.6m
Amaury-Daniel de Seze
Director26.58yrs€143.75k0.000060%
€ 7.2k
Paul Desmarais
Chairman of the Board1.33yrs€541.25kno data
Gérard Lamarche
Director9.33yrs€1.62m0.0038%
€ 450.8k
Victor Delloye
Director21.58yrs€198.50kno data
Baron Frère
Vice Chairman1.33yrs€173.21k0.20%
€ 23.4m
Martine Verluyten
Independent Non-Executive Director7.33yrs€61.00k0.0022%
€ 266.7k
Segolene Gallienne
Director5.33yrs€69.50kno data
Paul Desmarais
Director6.58yrs€179.33kno data
Antoinette d'Aspremont Lynden
Independent Director9.33yrs€88.50kno data
Baron Frère
Director5.33yrs€94.13kno data
Marie Polet
Independent Director5.33yrs€94.50kno data

7.0yrs

Average Tenure

66yo

Average Age

Experienced Board: GBLB's board of directors are considered experienced (7 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Groupe Bruxelles Lambert SA's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Groupe Bruxelles Lambert SA
  • Ticker: GBLB
  • Exchange: ENXTBR
  • Founded: 1902
  • Industry: Multi-Sector Holdings
  • Sector: Diversified Financials
  • Market Cap: €11.958b
  • Shares outstanding: 153.86m
  • Website: https://www.gbl.be

Number of Employees


Location

  • Groupe Bruxelles Lambert SA
  • Avenue Marnix 24
  • Brussels
  • Brussels
  • 1000
  • Belgium

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
GBLB.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDJul 1987
GBLBENXTBR (Euronext Brussels)YesOrdinary SharesBEEURJul 1987
EAIDB (Deutsche Boerse AG)YesOrdinary SharesDEEURJul 1987
0IN2LSE (London Stock Exchange)YesOrdinary SharesGBEURJul 1987
GBLBBBATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary SharesGBEURJul 1987
GBLBWBAG (Wiener Boerse AG)YesOrdinary SharesATEURJul 1987
GBLB.YOTCPK (Pink Sheets LLC)ADRUSUSDOct 2008

Biography

Groupe Bruxelles Lambert SA invests in a portfolio of industrial and services companies operating in various sectors. The company operates through four segments: Holding, Imerys, Webhelp, and Sienna Capita ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/08/15 04:54
End of Day Share Price2020/08/14 00:00
Earnings2020/06/30
Annual Earnings2019/12/31


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.