ENXTBR:WEB

Stock Analysis Report

Warehouses Estates Belgium

Executive Summary

Warehouses Estates Belgium SCA is a real estate investment trust.


Snowflake Analysis

Good value average dividend payer.

Share Price & News

How has Warehouses Estates Belgium's share price performed over time and what events caused price changes?


Latest Share Price and Events

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


Market Performance


7 Day Return

6.0%

WEB

7.6%

BE REITs

0.4%

BE Market


1 Year Return

0%

WEB

-4.7%

BE REITs

-28.6%

BE Market

Return vs Industry: WEB exceeded the Belgian REITs industry which returned -4.7% over the past year.

Return vs Market: WEB exceeded the Belgian Market which returned -28.6% over the past year.


Shareholder returns

WEBIndustryMarket
7 Day6.0%7.6%0.4%
30 Day-10.9%-20.1%-21.1%
90 Day-11.7%-15.8%-31.5%
1 Year3.6%0%-1.7%-4.7%-27.1%-28.6%
3 Year-1.9%-13.4%27.1%11.8%-34.2%-38.6%
5 Year0.06%-18.6%41.5%14.6%-34.5%-42.1%

Price Volatility Vs. Market

How volatile is Warehouses Estates Belgium's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Warehouses Estates Belgium undervalued compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: WEB (€53) is trading below our estimate of fair value (€142.3)

Significantly Below Fair Value: WEB is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: WEB is good value based on its PE Ratio (8.6x) compared to the REITs industry average (11x).

PE vs Market: WEB is good value based on its PE Ratio (8.6x) compared to the Belgian market (13.1x).


Price to Earnings Growth Ratio

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


Price to Book Ratio

PB vs Industry: WEB is overvalued based on its PB Ratio (1.1x) compared to the BE REITs industry average (1x).


Next Steps

Future Growth

How is Warehouses Estates Belgium forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

-4.0%

Forecasted Real Estate industry annual growth in earnings


In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Warehouses Estates Belgium has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.


Next Steps

Past Performance

How has Warehouses Estates Belgium performed over the past 5 years?

-10.2%

Last years earnings growth


Earnings and Revenue History

Quality Earnings: WEB has a large one-off gain of €7.5M impacting its December 31 2018 financial results.

Growing Profit Margin: WEB's current net profit margins (98%) are lower than last year .


Past Earnings Growth Analysis

Earnings Trend: Insufficient data to determine if WEB's year-on-year earnings growth rate was positive over the past 5 years.

Accelerating Growth: WEB's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: WEB had negative earnings growth (-10.2%) over the past year, making it difficult to compare to the REITs industry average (17.2%).


Return on Equity

High ROE: WEB's Return on Equity (12.5%) is considered low.


Next Steps

Financial Health

How is Warehouses Estates Belgium'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: WEB has a high level of physical assets or inventory.

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


Financial Institutions Analysis

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

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

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

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

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

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


Next Steps

Dividend

What is Warehouses Estates Belgium's current dividend yield, its reliability and sustainability?

6.51%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: WEB's dividend (6.51%) is higher than the bottom 25% of dividend payers in the Belgian market (2.61%).

High Dividend: WEB's dividend (6.51%) is in the top 25% of dividend payers in the Belgian market (6.3%)


Stability and Growth of Payments

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

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


Current Payout to Shareholders

Dividend Coverage: With its high payout ratio (101.4%), WEB's dividend payments are not well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

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

5.8yrs

Average management tenure


CEO

Robert Wagner

no data

Tenure

Mr. Robert Laurent Wagner serves as Co-Chief Executive Officer and Executive Director of Warehouses Estates Belgium SCA. 


Leadership Team

NamePositionTenureCompensationOwnership
Valerie Wagner
President of the Board of Directors and Head of Marketing & Salesno datano datano data
Robert Wagner
Co-CEO & Executive Directorno datano datano data
Claude Desseille
Co-CEO & Executive Director7.83yrsno datano data
Caroline Wagner
Chief Administrative Officer19.25yrsno datano data
Antoine Tagliavini
CFO & Risk Manager5.83yrsno datano data
Pierre Higuet
Head Officer of Accountingno data€2.00kno data
Laurent Vensensius
Head Officer of the Technical Departmentno datano datano data

5.8yrs

Average Tenure

Experienced Management: WEB's management team is seasoned and experienced (5.8 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Valerie Wagner
President of the Board of Directors and Head of Marketing & Salesno datano datano data
Robert Wagner
Co-CEO & Executive Directorno datano datano data
Claude Desseille
Co-CEO & Executive Director7.83yrsno datano data
Caroline Wagner
Chief Administrative Officer19.25yrsno datano data
Daniel Weekers
Independent Vice-Chairman of the Boardno datano datano data
Jacques Peters
Independent Non-Executive Director2.17yrsno datano data
Jean-Jacques Cloquet
Independent Non-Executive Director3.17yrsno datano data

7.8yrs

Average Tenure

Experienced Board: WEB's board of directors are considered experienced (7.8 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

Warehouses Estates Belgium SCA's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Warehouses Estates Belgium SCA
  • Ticker: WEB
  • Exchange: ENXTBR
  • Founded:
  • Industry: Diversified REITs
  • Sector: Real Estate
  • Market Cap: €167.816m
  • Shares outstanding: 3.17m
  • Website: https://www.w-e-b.be

Location

  • Warehouses Estates Belgium SCA
  • 29 Avenue Jean Mermoz
  • Gosselies
  • Hainaut
  • 6041
  • Belgium

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
WEBENXTBR (Euronext Brussels)YesPersonal SharesBEEUROct 1998
0GIDLSE (London Stock Exchange)YesPersonal SharesGBEUROct 1998

Biography

Warehouses Estates Belgium SCA is a real estate investment trust. Warehouses Estates Belgium SCA is based in Belgium. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/03/28 21:40
End of Day Share Price2020/03/27 00:00
Earnings2018/12/31
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.