Wereldhave Belgium is a public regulated real estate company with a focus on commercial property in Belgium.
+ 1 more risk
Established dividend payer and fair value.
Share Price & News
How has Wereldhave Belgium's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: WEHB's share price has been volatile over the past 3 months.
7 Day Return
1 Year Return
Return vs Industry: WEHB underperformed the Belgian REITs industry which returned -4.7% over the past year.
Return vs Market: WEHB underperformed the Belgian Market which returned -28.6% over the past year.
Price Volatility Vs. Market
How volatile is Wereldhave Belgium's share price compared to the market and industry in the last 5 years?
Simply Wall St News
1 month ago | Simply Wall StShould Wereldhave Belgium (EBR:WEHB) Focus On Improving This Fundamental Metric?
4 months ago | Simply Wall StWereldhave Belgium (EBR:WEHB) Delivered A Weaker ROE Than Its Industry
6 months ago | Simply Wall StVolatility 101: Should Wereldhave Belgium (EBR:WEHB) Shares Have Dropped 28%?
Is Wereldhave Belgium undervalued compared to its fair value and its price relative to the market?
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: WEHB (€53.4) is trading below our estimate of fair value (€144.83)
Significantly Below Fair Value: WEHB is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: WEHB is poor value based on its PE Ratio (14.2x) compared to the REITs industry average (11x).
PE vs Market: WEHB is poor value based on its PE Ratio (14.2x) compared to the Belgian market (13.1x).
Price to Earnings Growth Ratio
PEG Ratio: Insufficient data to calculate WEHB's PEG Ratio to determine if it is good value.
Price to Book Ratio
PB vs Industry: WEHB is good value based on its PB Ratio (0.6x) compared to the BE REITs industry average (1x).
How is Wereldhave Belgium forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?
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 Wereldhave 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.
- Examine whether Wereldhave Belgium is trading at an attractive price based on how much it is expected to earn in the future, and relative to its industry peers and the wider market.
- Wereldhave Belgium competitive advantages and company strategy can generally be found in its financial reports archived here.
- Explore growth companies in the Real Estate industry.
How has Wereldhave Belgium performed over the past 5 years?
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: WEHB has a large one-off loss of €16.6M impacting its December 31 2019 financial results.
Growing Profit Margin: WEHB's current net profit margins (47.9%) are lower than last year (73.2%).
Past Earnings Growth Analysis
Earnings Trend: WEHB's earnings have declined by -4.4% per year over the past 5 years.
Accelerating Growth: WEHB's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: WEHB had negative earnings growth (-28.6%) over the past year, making it difficult to compare to the REITs industry average (17.2%).
Return on Equity
High ROE: WEHB's Return on Equity (4.2%) is considered low.
How is Wereldhave Belgium's financial position? (This company is analysed differently as a bank or financial institution)
Financial Position Analysis
Debt to Equity History and Analysis
Inventory Level: WEHB has a high level of physical assets or inventory.
Debt Coverage by Assets: WEHB's debt is not covered by short term assets (assets are 0.1x debt).
Financial Institutions Analysis
Asset Level: WEHB's level of assets compared to its equity is low.
Allowance for Bad Loans: Insufficient data to determine if WEHB has a sufficient allowance for bad loans.
Low Risk Liabilities: WEHB reports no customer deposits, loans are made up entirely of externally borrowed funds.
Loan Level: Insufficient data to determine if WEHB has an acceptable proportion of non-loan assets held.
Low Risk Deposits: WEHB has advanced significantly more loans than the customer deposits it holds.
Level of Bad Loans: Insufficient data to determine if WEHB has an appropriate level of bad loans.
What is Wereldhave Belgium's current dividend yield, its reliability and sustainability?
Current Dividend Yield
Upcoming Dividend Payment
Dividend Yield vs Market
Notable Dividend: WEHB's dividend (9.74%) is higher than the bottom 25% of dividend payers in the Belgian market (2.61%).
High Dividend: WEHB's dividend (9.74%) is in the top 25% of dividend payers in the Belgian market (6.3%)
Stability and Growth of Payments
Stable Dividend: WEHB's dividends per share have been stable in the past 10 years.
Growing Dividend: WEHB's dividend payments have increased over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonably low payout ratio (36.7%), WEHB's dividend payments are 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.
How experienced are the management team and are they aligned to shareholders interests?
Average management tenure
Kasper Deforche (38yo)
Mr. Kasper Deforche has been Chief Executive Officer and Managing Director of Wereldhave Belgium since July 01, 2016 and served as its Chief Operations Officer of Belgium since 2014 until July 01, 2016. Mr ...
CEO Compensation Analysis
Compensation vs Market: Kasper's total compensation ($USD598.74K) is about average for companies of similar size in the Belgian market ($USD482.54K).
Compensation vs Earnings: Kasper's compensation has been consistent with company performance over the past year.
|MD, CEO & Director||0.58yr||€540.00k||no data|
|CEO & Director||0.58yr||no data||no data|
|CFO & Financial Director||2.17yrs||no data||no data|
|Chief Operating Officer||no data||no data||no data|
|Head of Control & Reporting||no data||no data||no data|
Experienced Management: WEHB's management team is not considered experienced ( 0.6 years average tenure), which suggests a new team.
|MD, CEO & Director||0.58yr||€540.00k||no data|
|CEO & Director||0.58yr||no data||no data|
|Independent Chairman of the Board||8.83yrs||€25.00k||no data|
|Director||0.58yr||no data||no data|
Experienced Board: WEHB's board of directors are not considered experienced ( 2.8 years average tenure), which suggests a new board.
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.
Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 8.6%.
Wereldhave Belgium's company bio, employee growth, exchange listings and data sources
- Name: Wereldhave Belgium
- Ticker: WEHB
- Exchange: ENXTBR
- Industry: Retail REITs
- Sector: Real Estate
- Market Cap: €416.946m
- Shares outstanding: 7.81m
- Website: https://www.wereldhavebelgium.com
Number of Employees
- Wereldhave Belgium
- Medialaan 30/6
- Flemish Brabant
|Ticker||Exchange||Primary Security||Security Type||Country||Currency||Listed on|
|WEHB||ENXTBR (Euronext Brussels)||Yes||Bearer Shares||BE||EUR||Jun 1998|
|WPU||DB (Deutsche Boerse AG)||Yes||Bearer Shares||DE||EUR||Jun 1998|
|0N2C||LSE (London Stock Exchange)||Yes||Bearer Shares||GB||EUR||Jun 1998|
|WEHBB||BATS-CHIXE (BATS 'Chi-X Europe')||Yes||Bearer Shares||GB||EUR||Jun 1998|
Wereldhave Belgium is a public regulated real estate company with a focus on commercial property in Belgium. Wereldhave Belgium targets its new investments on shopping centres. The value of the real estate portfolio, including project developments, amounted to € 956.7 mln on 31 December 2018. On 31 December 2018 the existing operational retail portfolio amounted to € 847.1 mln (around 90% of the total portfolio) and it includes shopping centres in Liège, Nivelles, Tournai, Ghent, Genk, Waterloo and Kortrijk and retail parks in Brugge, turnhout en Tournai. In addition, the portfolio of real estate investments includes offices in Vilvoorde and Antwerp. As of 31 December 2018 the development portfolio of € 14.7 mln contained land holdings and realised investments that relate to the refurbishment and/or expansion of shopping centres in Waterloo and Liège. Wereldhave Belgium wants to create value through the active management of shopping centres and the (re)development of shopping centres for its own portfolio. With the help of its own employees, Wereldhave Belgium maintains direct contact with its lessees. This is how Wereldhave is informed at an earlier stage of any issues experienced by the lessees and how it acquires up-to-date market information. The knowledge gained as a result is also used in the context of project development.
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2020/03/28 21:21|
|End of Day Share Price||2020/03/27 00:00|
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.