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Atenor

ENXTBR:ATEB
Snowflake Description

High growth potential average dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
ATEB
ENXTBR
€319M
Market Cap
  1. Home
  2. BE
  3. Real Estate
Company description

Atenor SA invests in large-scale real estate projects in Belgium and internationally. The last earnings update was 177 days ago. More info.


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ATEB Share Price and Events
7 Day Returns
1.4%
ENXTBR:ATEB
0.3%
BE Real Estate
-1.2%
BE Market
1 Year Returns
23.1%
ENXTBR:ATEB
-5.7%
BE Real Estate
-16%
BE Market
ATEB Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Atenor (ATEB) 1.4% 7.3% 11.4% 23.1% 33.3% 60.5%
BE Real Estate 0.3% 4.4% 6.6% -5.7% 39.3% 81.8%
BE Market -1.2% 2.3% 0.5% -16% -14.7% 1.1%
1 Year Return vs Industry and Market
  • ATEB outperformed the Real Estate industry which returned -5.7% over the past year.
  • ATEB outperformed the Market in Belgium which returned -16% over the past year.
Price Volatility
ATEB
Industry
5yr Volatility vs Market
Related Companies

ATEB Value

 Is Atenor 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
  • It is not possible to calculate the future cash flow value for Atenor. This is due to cash flow or dividend data being unavailable. The share price is €58.6.
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 Atenor's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Atenor's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
ENXTBR:ATEB PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-06-30) in EUR €2.03
ENXTBR:ATEB Share Price ** ENXTBR (2019-02-22) in EUR €58.6
Belgium Real Estate Industry PE Ratio Median Figure of 7 Publicly-Listed Real Estate Companies 11.08x
Belgium Market PE Ratio Median Figure of 93 Publicly-Listed Companies 14.71x

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

** Primary Listing of Atenor.

ENXTBR:ATEB PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

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

= 58.6 ÷ 2.03

28.81x

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

  • Atenor is overvalued based on earnings compared to the BE Real Estate industry average.
  • Atenor is overvalued based on earnings compared to the Belgium market.
Price based on expected Growth
Does Atenor's expected growth come at a high price?
Raw Data
ENXTBR:ATEB PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 28.81x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts
46.7%per year
Europe Real Estate Industry PEG Ratio Median Figure of 93 Publicly-Listed Real Estate Companies -0.16x
Belgium Market PEG Ratio Median Figure of 46 Publicly-Listed Companies 1.13x

*Line of best fit is calculated by linear regression .

ENXTBR:ATEB PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 28.81x ÷ 46.7%

0.62x

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

  • Atenor is good value based on expected growth next year.
Price based on value of assets
What value do investors place on Atenor's assets?
Raw Data
ENXTBR:ATEB PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-06-30) in EUR €25.44
ENXTBR:ATEB Share Price * ENXTBR (2019-02-22) in EUR €58.6
Belgium Real Estate Industry PB Ratio Median Figure of 10 Publicly-Listed Real Estate Companies 1.23x
Belgium Market PB Ratio Median Figure of 119 Publicly-Listed Companies 1.52x
ENXTBR:ATEB PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 58.6 ÷ 25.44

2.3x

* Primary Listing of Atenor.

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

  • Atenor is overvalued based on assets compared to the BE Real Estate industry average.
X
Value checks
We assess Atenor'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 Real Estate 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 Real Estate industry average (and greater than 0)? (1 check)
  5. Atenor has a total score of 1/6, 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.

ATEB Future Performance

 How is Atenor expected to perform in the next 1 to 3 years based on estimates from 2 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
46.7%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Atenor expected to grow at an attractive rate?
  • Atenor's earnings growth is expected to exceed the low risk savings rate of 0.8%.
Growth vs Market Checks
  • Atenor's earnings growth is expected to exceed the Belgium market average.
  • Atenor's revenue growth is expected to exceed the Belgium market average.
Annual Growth Rates Comparison
Raw Data
ENXTBR:ATEB Future Growth Rates Data Sources
Data Point Source Value (per year)
ENXTBR:ATEB Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts 46.7%
ENXTBR:ATEB Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 2 Analysts 28.5%
Belgium Real Estate Industry Earnings Growth Rate Market Cap Weighted Average 7.9%
Belgium Real Estate Industry Revenue Growth Rate Market Cap Weighted Average 8.8%
Belgium Market Earnings Growth Rate Market Cap Weighted Average 12.4%
Belgium Market Revenue Growth Rate Market Cap Weighted Average 3.1%

*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
ENXTBR:ATEB Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (7 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
ENXTBR:ATEB Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31
2020-12-31 309 -53 51 1
2019-12-31 135 -43 23 2
2018-12-31 188 90 28 1
ENXTBR:ATEB Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2018-06-30 122 -98 11
2018-03-31 171 -50 17
2017-12-31 220 -2 22
2017-09-30 230 29 26
2017-06-30 240 60 30
2017-03-31 199 61 25
2016-12-31 157 62 20
2016-09-30 142 32 21
2016-06-30 128 2 21
2016-03-31 122 -50 21
2015-12-31 117 -103 20
2015-09-30 106 -76 19

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Atenor's earnings are expected to grow significantly at over 20% yearly.
  • Atenor's revenue is expected to grow significantly at over 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
ENXTBR:ATEB Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (7 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below

All data from Atenor Company Filings, last reported 7 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ENXTBR:ATEB Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31
2020-12-31 9.41 9.41 9.41 1.00
2019-12-31 4.28 4.28 4.28 1.00
2018-12-31 5.18 5.18 5.18 1.00
ENXTBR:ATEB Past Financials Data
Date (Data in EUR Millions) EPS *
2018-06-30 2.03
2018-03-31 3.05
2017-12-31 4.07
2017-09-30 4.83
2017-06-30 5.59
2017-03-31 4.66
2016-12-31 3.73
2016-09-30 3.80
2016-06-30 3.87
2016-03-31 3.73
2015-12-31 3.59
2015-09-30 3.39

*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.
  • Atenor is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Atenor'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 Belgium market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Belgium 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.
Atenor has a total score of 5/6, 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.

ATEB Past Performance

  How has Atenor 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 Atenor's growth in the last year to its industry (Real Estate).
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.
  • Atenor's year on year earnings growth rate has been positive over the past 5 years, however the most recent earnings are below average.
  • Atenor's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Atenor's 1-year earnings growth is negative, it can't be compared to the BE Real Estate industry average.
Earnings and Revenue History
Atenor'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 Atenor Company Filings, last reported 7 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ENXTBR:ATEB Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-06-30 121.93 11.07 2.63
2018-03-31 171.18 16.62 2.70
2017-12-31 220.43 22.18 2.77
2017-09-30 230.33 26.33 2.71
2017-06-30 240.22 30.48 2.65
2017-03-31 198.53 25.43 3.11
2016-12-31 156.83 20.38 3.58
2016-09-30 142.47 20.89 3.97
2016-06-30 128.10 21.41 4.35
2016-03-31 122.42 20.68 3.76
2015-12-31 116.75 19.96 3.17
2015-09-30 105.62 18.74 2.70
2015-06-30 94.48 17.53 2.24
2015-03-31 102.64 16.43 2.14
2014-12-31 110.80 15.33 2.05
2014-09-30 104.35 10.57 1.94
2014-06-30 97.90 5.82 1.83
2014-03-31 104.02 8.92 1.76
2013-12-31 110.13 12.03 1.68
2013-09-30 103.69 11.53 0.96
2013-06-30 97.25 11.02 0.25
2013-03-31 71.60 10.26 0.96
2012-12-31 45.94 9.49 1.68
2012-09-30 45.68 10.00 3.77
2012-06-30 45.42 10.52 5.87
2012-03-31 40.94 10.92 6.07

*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.
  • Atenor has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Atenor used its assets less efficiently than the BE Real Estate industry average last year based on Return on Assets.
  • Atenor's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Atenor'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 Real Estate 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.
Atenor 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.

ATEB Health

 How is Atenor'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 Atenor's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Atenor is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Atenor's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Atenor'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 covered by short term assets, assets are 1.4x 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 Atenor Company Filings, last reported 7 months ago.

ENXTBR:ATEB Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2018-06-30 141.37 451.80 69.73
2018-03-31 141.37 451.80 69.73
2017-12-31 149.64 377.13 48.13
2017-09-30 149.64 377.13 48.13
2017-06-30 147.79 391.33 114.56
2017-03-31 147.79 391.33 114.56
2016-12-31 139.40 450.47 145.40
2016-09-30 139.40 450.47 145.40
2016-06-30 120.90 348.06 82.83
2016-03-31 120.90 348.06 82.83
2015-12-31 126.80 362.50 23.16
2015-09-30 126.80 362.50 23.16
2015-06-30 111.94 306.56 38.51
2015-03-31 111.94 306.56 38.51
2014-12-31 112.90 266.82 67.24
2014-09-30 112.90 266.82 67.24
2014-06-30 103.03 227.97 24.38
2014-03-31 103.03 227.97 24.38
2013-12-31 104.79 213.93 38.91
2013-09-30 104.79 213.93 38.91
2013-06-30 102.95 233.01 42.12
2013-03-31 102.95 233.01 42.12
2012-12-31 98.74 230.73 98.72
2012-09-30 98.74 230.73 98.72
2012-06-30 97.00 141.85 32.66
2012-03-31 97.00 141.85 32.66
  • Atenor's level of debt (319.6%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (226.1% vs 319.6% today).
  • Operating cash flow is negative therefore debt is not well covered.
  • Interest payments on debt are not well covered by earnings (EBIT is 2.5x annual interest expense, ideally 3x coverage).
X
Financial health checks
We assess Atenor'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. Atenor has a total score of 2/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


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

ATEB Dividends

 What is Atenor'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
3.55%
Current annual income from Atenor dividends. Estimated to be 3.73% next year.
If you bought €2,000 of Atenor shares you are expected to receive €71 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?
  • Atenor's pays a higher dividend yield than the bottom 25% of dividend payers in Belgium (2.12%).
  • Atenor's dividend is below the markets top 25% of dividend payers in Belgium (4.79%).
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
ENXTBR:ATEB 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 2 Analyst Estimates (S&P Global) See Below
Belgium Real Estate Industry Average Dividend Yield Market Cap Weighted Average of 5 Stocks 3.3%
Belgium Market Average Dividend Yield Market Cap Weighted Average of 77 Stocks 3.4%
Belgium Minimum Threshold Dividend Yield 10th Percentile 1.3%
Belgium Bottom 25% Dividend Yield 25th Percentile 2.1%
Belgium Top 25% Dividend Yield 75th Percentile 4.8%

Industry and Market average data is calculated daily.

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

ENXTBR:ATEB Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31
2020-12-31 2.21 1.00
2019-12-31 2.16 1.00
2018-12-31 2.12 1.00
ENXTBR:ATEB Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2018-03-08 2.080 4.187
2017-04-28 2.040 4.213
2016-04-22 2.000 4.317
2015-03-05 2.000 4.604
2014-04-25 2.000 5.167
2013-03-11 2.000 5.925
2012-03-15 2.000 6.529
2012-03-05 2.000 6.666
2011-03-08 2.000 6.720
2011-03-01 2.000 6.097
2010-03-05 1.950 5.630
2009-12-31 1.950 5.291
2009-02-24 1.950 5.349

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

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Atenor's earnings are paid to the shareholders as a dividend.
  • Dividends paid are not well covered by earnings (1x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (3.6x coverage).
X
Income/ dividend checks
We assess Atenor's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.3%) - 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 Atenor afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Atenor 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.

ATEB Management

 What is the CEO of Atenor'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
Stéphan Sonneville
COMPENSATION €0
TENURE AS CEO 13.9 years
CEO Bio

Mr. Stéphan Sonneville, SA, has been the Chief Executive Officer of Atenor Group (formerly ATENOR SA) since March 2005 and serves as its Managing Director. Mr. Sonneville served as a General Manager of Atenor Group and has been its Executive Director since April 27, 2007.

CEO Compensation
  • Insufficient data for Stéphan to compare compensation growth.
  • Stéphan's remuneration is lower than average for companies of similar size in Belgium.
Management Team Tenure

Average tenure of the Atenor management team in years:

16.5
Average Tenure
  • The average tenure for the Atenor management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Stéphan Sonneville

TITLE
CEO, MD & Executive Director
TENURE
13.9 yrs

Sidney Bens

TITLE
Chief Financial Officer
TENURE
21.3 yrs

Hans Vandendael

TITLE
Secretary of the Board
TENURE
2.2 yrs

Laurent Collier

TITLE
Executive Officer
TENURE
19.1 yrs

William Lerinckx

TITLE
Executive Officer
Board of Directors Tenure

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

7.8
Average Tenure
53
Average Age
  • The tenure for the Atenor board of directors is about average.
Board of Directors

Frank Donck

TITLE
Chairman
COMPENSATION
€60K
AGE
53
TENURE
11.8 yrs

Stéphan Sonneville

TITLE
CEO, MD & Executive Director
TENURE
11.8 yrs

Nadine Lemaitre

TITLE
Independent Director
COMPENSATION
€38K

Emmanuèle Attout

TITLE
Independent Non-Executive Director
COMPENSATION
€30K
TENURE
3.8 yrs

Philippe Vastapane

TITLE
Non-Executive Director
COMPENSATION
€30K

Michèle Grégoire

TITLE
Independent Director
COMPENSATION
€30K
TENURE
3.8 yrs

Jacquot Schwertzer

TITLE
Non-Executive Director
COMPENSATION
€30K
AGE
62

Christian Delaire

TITLE
Independent Non-Executive Director
AGE
51
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
X
Management checks
We assess Atenor'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. Atenor 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.

ATEB News

Simply Wall St News

Should You Be Concerned About Atenor SA's (EBR:ATEB) ROE?

With that in mind, this article will work through how we can use Return On Equity (ROE) to better understand a business. … One way to conceptualize this, is that for each €1 of shareholders' equity it has, the company made €0.077 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

Atenor SA (EBR:ATEB): Is Real Estate An Attractive Sector Play?

operates in the real estate industry … Real estate investments typically display unique and attractive investment characteristics relative to other stocks and bonds, especially over a long time horizon … Real estate analysts are forecasting for the entire industry,

Simply Wall St -

What Does Atenor SA's (EBR:ATEB) PE Ratio Tell You?

I am writing today to help inform people who are new to the stock market. … and want to learn about the link between company’s fundamentals and stock market performance. … While ATEB might seem like a stock to avoid or sell if you own it, it is important to understand the assumptions behind the P/E ratio before you make any investment decisions.

Simply Wall St -

What Should Investors Know About The Future Of Atenor SA's (EBR:ATEB)?

Atenor SA's (EBR:ATEB) latest earnings announcement in December 2017a … revealed … company

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What Do Expectations Tell Us About Atenor SA's (EBR:ATEB) Margins In The Years Ahead?

As analysts forecast … earnings growth of 21.19% annualised … it's important to take a step back

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Did Atenor SA (EBR:ATEB) Create Value For Shareholders?

Return on Equity = Net Profit ÷ Shareholders Equity ROE is measured against cost of equity in order to determine the efficiency of Atenor’s equity capital deployed. … Since Atenor’s return covers its cost in excess of 5.64%, its use of equity capital is efficient and likely to be sustainable. … This is called the Dupont Formula: Dupont Formula ROE = profit margin × asset turnover × financial leverage ROE = (annual net profit ÷ sales) × (sales ÷ assets) × (assets ÷ shareholders’ equity) ROE = annual net profit ÷ shareholders’ equity ENXTBR:ATEB Last Perf May 25th 18 The first component is profit margin, which measures how much of sales is retained after the company pays for all its expenses.

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A Look At The Fair Value Of Atenor SA (EBR:ATEB)

5-year cash flow forecast 2018 2019 2020 2021 2022 Levered FCF (€, Millions) €111.50 €-35.00 €16.30 €19.07 €22.12 Source Analyst x1 Analyst x1 Analyst x1 Extrapolated @ (17%, capped from 21.59%) Extrapolated @ (16%, capped from 21.59%) Present Value Discounted @ 12.4% €99.20 €-27.70 €11.48 €11.95 €12.33 Present Value of 5-year Cash Flow (PVCF)= €107 We now need to calculate the Terminal Value, which accounts for all the future cash flows after the five years. … Terminal Value (TV) = FCF2022 × (1 + g) ÷ (r – g) = €22 × (1 + 0.9%) ÷ (12.4% – 0.9%) = €195 Present Value of Terminal Value (PVTV) = TV / (1 + r)5 = €195 / ( 1 + 12.4%)5 = €109 The total value is the sum of cash flows for the next five years and the discounted terminal value, which results in the Total Equity Value, which in this case is €216. … ENXTBR:ATEB Intrinsic Value May 18th 18 The assumptions Now the most important inputs to a discounted cash flow are the discount rate, and of course, the actual cash flows.

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Analysts Bullish On Atenor SA (EBR:ATEB)

Alarm bells rang in my head when I saw ATEB's debt level exceeds equity on its balance sheet, and its high cash expenses leading to negative cash profit from operations. … ATEB has managed its cash well at a current level of €48.13M. … With 5.43 million shares, that's a €256.41M market cap - quite low for a business that has a 5-year free cash flow cumulative average growth rate (CAGR) of 21.59% (source: analyst consensus).

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What You Must Know About Atenor SA's (EBR:ATEB) Financial Strength

How does ATEB’s operating cash flow stack up against its debt? … With this debt repayment, the current cash and short-term investment levels stands at €48.13M , ready to deploy into the business. … For ATEB, the ratio of 3.1x suggests that interest is appropriately covered, which means that debtors may be willing to loan the company more money, giving ATEB ample headroom to grow its debt facilities.Next Steps: At its current level of cash flow coverage, ATEB has room for improvement to better cushion for events which may require debt repayment.

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Is It The Right Time To Buy Atenor SA (EBR:ATEB)?

I find that Atenor’s ratio of 11.45x is trading slightly below its industry peers’ ratio of 12.57x, which means if you buy Atenor today, you’d be paying a fair price for it. … Currently, ATEB appears to be trading around its fair value, but given the uncertainty from negative returns in the future, this could be the right time to de-risk your portfolio. … If you’ve been keeping an eye on ATEB for a while, now may not be the most optimal time to buy, given it is trading around its fair value.

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ATEB Company Info

Map
Description

Atenor SA invests in large-scale real estate projects in Belgium and internationally. It develops office and residential buildings. The company was founded in 1910 and is based in La Hulpe, Belgium.

Details
Name: Atenor SA
ATEB
Exchange: ENXTBR
Founded: 1910
€318,740,811
5,439,263
Website: http://www.atenor.be
Address: Atenor SA
Avenue Reine Astrid, 92,
La Hulpe,
Walloon Brabant, 1310,
Belgium
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
ENXTBR ATEB Ordinary Shares Euronext Brussels BE EUR 01. Jun 2000
LSE 0NG6 Ordinary Shares London Stock Exchange GB EUR 01. Jun 2000
BATS-CHIXE ATEBB Ordinary Shares BATS 'Chi-X Europe' GB EUR 01. Jun 2000
Number of employees
Current staff
Staff numbers
28
Atenor employees.
Industry
Real Estate Operating Companies
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/02/23 21:07
End of day share price update: 2019/02/22 00:00
Last estimates confirmation: 2018/12/24
Last earnings filing: 2018/08/30
Last earnings reported: 2018/06/30
Last annual earnings reported: 2017/12/31


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.