ENXTBR:MONT

Stock Analysis Report

Executive Summary

Montea Comm. VA is a public property investment company (PPIC – SIIC) under Belgian law specialising in logistical property in Belgium, France and the Netherlands, where the company is a benchmark player.

Snowflake

Fundamentals

Proven track record average dividend payer.

Share Price & News

How has Montea Comm. VA's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

1.1%

MONT

0.3%

BE REITs

-0.1%

BE Market


1 Year Return

50.2%

MONT

31.9%

BE REITs

7.2%

BE Market

Return vs Industry: MONT exceeded the Belgian REITs industry which returned 31.9% over the past year.

Return vs Market: MONT exceeded the Belgian Market which returned 7.2% over the past year.


Shareholder returns

MONTIndustryMarket
7 Day1.1%0.3%-0.1%
30 Day7.0%2.7%-1.6%
90 Day2.3%8.4%4.1%
1 Year59.1%50.2%38.1%31.9%9.8%7.2%
3 Year101.2%75.1%48.0%29.1%-5.8%-12.4%
5 Year213.4%157.8%98.6%59.6%29.6%13.6%

Price Volatility Vs. Market

How volatile is Montea Comm. VA's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Montea Comm. VA undervalued compared to its fair value and its price relative to the market?

29.7%

Undervalued compared to fair value


Share Price vs. Fair Value

Undervalued: MONT (€79.9) is trading below our estimate of fair value (€113.7)

Significantly Undervalued: MONT is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: MONT is good value based on its PE Ratio (13x) compared to the REITs industry average (15.4x).

PE vs Market: MONT is good value based on its PE Ratio (13x) compared to the Belgian market (16x).


Price to Earnings Growth Ratio

Low PEG Ratio: Insufficient data to calculate MONT's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: MONT is overvalued based on its PB Ratio (2x) compared to the BE REITs industry average (1.4x).


Next Steps

Future Growth

How is Montea Comm. VA forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?

18.0%

Forecasted annual revenue growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: Insufficient data to determine if MONT's forecast earnings growth is above the savings rate (0.8%).

Earnings vs Market: Insufficient data to determine if MONT's earnings are forecast to grow faster than the Belgian market

High Growth Earnings: Insufficient data to determine if earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: MONT's revenue (18% per year) is forecast to grow faster than the Belgian market (3.7% per year).

High Growth Revenue: MONT's revenue (18% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

High Future ROE: MONT's Return on Equity is forecast to be high in 3 years time (20.5%)


Next Steps

Past Performance

How has Montea Comm. VA performed over the past 5 years?

41.3%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: MONT's earnings have grown significantly by 41.3% per year over the past 5 years.

Accelerating Growth: MONT's earnings growth over the past year (58.9%) exceeds its 5-year average (41.3% per year).

Earnings vs Industry: MONT earnings growth over the past year (58.9%) exceeded the REITs industry 37.8%.


Return on Equity

High ROE: MONT's Return on Equity (13.4%) is considered low.


Return on Assets

ROA vs Industry: MONT has a higher Return on Assets than the REITs industry average last year.


Return on Capital Employed

ROCE Improving: MONT's Return on Capital Employed has declined over the past 3 years.


Next Steps

Financial Health

How is Montea Comm. VA's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet

Inventory Level: MONT has a high level of physical assets or inventory.

Debt Coverage by Assets: MONT's debt is not covered by short term assets (assets are 0.1x debt).


Financial Institutions Analysis

Asset Level: MONT's level of assets compared to its equity is low.

Allowance for Bad Loans: Insufficient data to determine if MONT has a sufficient allowance for bad loans.

Low Risk Liabilities: MONT reports no customer deposits, loans are made up entirely of externally borrowed funds.

Loan Level: Insufficient data to determine if MONT has an acceptable proportion of non-loan assets held.

Low Risk Deposits: MONT has advanced significantly more loans than the customer deposits it holds.

Level of Bad Loans: Insufficient data to determine if MONT has an appropriate level of bad loans.


Next Steps

Dividend

What is Montea Comm. VA's current dividend yield, its reliability and sustainability?

2.83%

Current Dividend Yield


Dividend Yield vs Market

company2.8%marketbottom25%2.1%markettop25%4.5%industryaverage3.9%forecastin3Years3.5%

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: MONT's dividend (2.83%) is higher than the bottom 25% of dividend payers in the Belgian market (2.14%).

High Dividend: MONT's dividend (2.83%) is low compared to the top 25% of dividend payers in the Belgian market (4.46%).

Stable Dividend: MONT's dividend payments have been volatile in the past 10 years.

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


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (41.3%), MONT's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: MONT's dividends in 3 years are forecast to be covered by earnings (79% payout ratio).


Next Steps

Management

What is the CEO of Montea Comm. VA's salary, the management and board of directors tenure and is there insider trading?

8.8yrs

Average management tenure


CEO

Jo De Wolf (45yo)

9yrs

Tenure

€649,937

Compensation

Jo De Wolf holds a Master’s degree in Applied Economics from KU Leuven, an MBA from the Vlerick School for management and pursued the Master’s Real Estate programme at the KU Leuven. The Mandates that h ...


CEO Compensation Analysis

Compensation vs. Market: Jo's total compensation ($USD716.26K) is about average for companies of similar size in the Belgian market ($USD766.99K).

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


Management Age and Tenure

8.8yrs

Average Tenure

45yo

Average Age

Experienced Management: MONT's management team is seasoned and experienced (8.8 years average tenure).


Board Age and Tenure

6.2yrs

Average Tenure

57yo

Average Age

Experienced Board: MONT's board of directors are considered experienced (6.2 years average tenure).


Insider Trading

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


Ownership Breakdown


Management Team

  • Dirk De Pauw (63yo)

    Chairman of the Board

    • Tenure: 5yrs
  • Jean de Beaufort

    Director of France

    • Tenure: 9.2yrs
  • Jo De Wolf (45yo)

    MD & CEO

    • Tenure: 9yrs
    • Compensation: €649.94k
  • Peter Demuynck

    Chief Commercial Officer

    • Tenure: 8.8yrs
  • Griet Cappelle (40yo)

    Chief Operating Officer

    • Tenure: 0yrs
  • Hylcke Okkinga

    Director of Netherlands

    • Tenure: 4.3yrs
  • Els Vervaecke

    Chief Financial Officer

    • Tenure: 3.6yrs
  • Christine De Glas

    Communication & Marketing Manager

    • Tenure: 0yrs

Board Members

  • Jean-Marc Mayeur (49yo)

    Non-Executive Director

    • Tenure: 7.4yrs
  • Dirk De Pauw (63yo)

    Chairman of the Board

    • Tenure: 5yrs
  • Peter Snoeck (62yo)

    Non-executive Director

    • Tenure: 13yrs
  • Ciska Servais (54yo)

    Independent Vice Chairman of the Board

    • Tenure: 6.4yrs
    • Compensation: €24.00k
  • Jo De Wolf (45yo)

    MD & CEO

    • Tenure: 9yrs
    • Compensation: €649.94k
  • Sophie Maes (62yo)

    Non-Executive & Independent Director

    • Tenure: 6yrs
    • Compensation: €24.00k
  • Greta Afslag (57yo)

    Non-Executive Director

    • Tenure: 2.4yrs
  • Philipp Mathieu

    Non-executive & Independent Director

    • Tenure: 1.4yrs
    • Compensation: €8.00k

Company Information

Montea Comm. VA's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Montea Comm. VA
  • Ticker: MONT
  • Exchange: ENXTBR
  • Founded: 1977
  • Industry: Industrial REITs
  • Sector: Real Estate
  • Market Cap: €1.261b
  • Shares outstanding: 15.78m
  • Website: https://www.montea.com

Number of Employees


Location

  • Montea Comm. VA
  • Industrielaan 27
  • Industriezone Z III Zuid
  • Erembodegem
  • Liège
  • 9320
  • Belgium

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
MONTENXTBR (Euronext Brussels)YesCommon SharesBEEUROct 2006
M8EDB (Deutsche Boerse AG)YesCommon SharesDEEUROct 2006
0LBYLSE (London Stock Exchange)YesCommon SharesGBEUROct 2006
MONTBBATS-CHIXE (BATS 'Chi-X Europe')YesCommon SharesGBEUROct 2006

Biography

Montea Comm. VA is a public property investment company (PPIC – SIIC) under Belgian law specialising in logistical property in Belgium, France and the Netherlands, where the company is a benchmark player.  ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/14 20:53
End of Day Share Price2019/10/14 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


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.