Declared Dividend • Feb 12
Dividend of kr3.70 announced Shareholders will receive a dividend of kr3.70. Ex-date: 11th May 2026 Payment date: 18th May 2026 Dividend yield will be 20%, which is higher than the industry average of 3.2%. Sustainability & Growth Dividend is well covered by both earnings (42% earnings payout ratio) and cash flows (48% cash payout ratio). The dividend has increased by an average of 25% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 72% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Feb 10
Full year 2025 earnings released: EPS: kr8.71 (vs kr11.31 in FY 2024) Full year 2025 results: EPS: kr8.71 (down from kr11.31 in FY 2024). Revenue: kr5.38b (up 7.7% from FY 2024). Net income: kr4.05b (down 23% from FY 2024). Profit margin: 75% (down from 105% in FY 2024). Revenue is forecast to grow 4.7% p.a. on average during the next 3 years, compared to a 13% decline forecast for the Real Estate industry in Germany. Over the last 3 years on average, earnings per share has increased by 49% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Reported Earnings • Oct 26
Third quarter 2025 earnings released: EPS: kr1.93 (vs kr4.73 in 3Q 2024) Third quarter 2025 results: EPS: kr1.93 (down from kr4.73 in 3Q 2024). Revenue: kr1.37b (up 6.0% from 3Q 2024). Net income: kr895.0m (down 59% from 3Q 2024). Profit margin: 66% (down from 170% in 3Q 2024). Revenue is forecast to grow 8.1% p.a. on average during the next 3 years, compared to a 19% decline forecast for the Real Estate industry in Germany. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Announcement • Oct 22
AB Sagax (publ), Annual General Meeting, May 08, 2026 AB Sagax (publ), Annual General Meeting, May 08, 2026. Announcement • Aug 29
AB Sagax (publ) (OM:SAGA A) acquired 10.80% stake in Retail Estates N.V. (ENXTBR:RET) for SEK 1.2 billion. AB Sagax (publ) (OM:SAGA A) acquired 10.80% stake in Retail Estates N.V. (ENXTBR:RET) for SEK 1.2 billion in cash on August 29, 2025.
AB Sagax (publ) (OM:SAGA A) completed the acquisition of 10.80% stake in Retail Estates N.V. (ENXTBR:RET) on August 29, 2025. Reported Earnings • Jul 16
Second quarter 2025 earnings released: EPS: kr1.02 (vs kr2.11 in 2Q 2024) Second quarter 2025 results: EPS: kr1.02 (down from kr2.11 in 2Q 2024). Revenue: kr1.31b (up 9.2% from 2Q 2024). Net income: kr476.0m (down 51% from 2Q 2024). Profit margin: 36% (down from 81% in 2Q 2024). Revenue is forecast to grow 8.2% p.a. on average during the next 3 years, compared to a 18% decline forecast for the Real Estate industry in Germany. Over the last 3 years on average, earnings per share has fallen by 3% per year whereas the company’s share price has fallen by 7% per year. Announcement • May 09
AB Sagax (publ) Approves Dividend on Series D for the Financial Year 2024 AB Sagax (publ) at its AGM held on May 8, 2025, adopted the Board of Directors' proposal for dividend to the shareholders of SEK 2.00 per ordinary share of series D for the financial year 2024, with a quarterly payment of SEK 0.50 per ordinary share of series D. The record dates for receiving dividend for the ordinary shares of series D is 30 June 2025, 30 September 2025, 30 December 2025 and 31 March 2026. The dividend is expected to be distributed by Euroclear on the third weekday after each record date. Upcoming Dividend • May 02
Upcoming dividend of kr3.50 per share Eligible shareholders must have bought the stock before 09 May 2025. Payment date: 15 May 2025. Payout ratio is a comfortable 31% and this is well supported by cash flows. Trailing yield: 1.6%. Lower than top quartile of German dividend payers (4.3%). Lower than average of industry peers (3.2%). Declared Dividend • Apr 17
Dividend of kr3.50 announced Shareholders will receive a dividend of kr3.50. Ex-date: 9th May 2025 Payment date: 15th May 2025 Dividend yield will be 19%, which is higher than the industry average of 3.2%. Sustainability & Growth Dividend is well covered by both earnings (31% earnings payout ratio) and cash flows (49% cash payout ratio). The dividend has increased by an average of 24% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share has grown by 3.2% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Apr 16
AB Sagax (publ) announces Annual dividend, payable on May 15, 2025 AB Sagax (publ) announced Annual dividend of SEK 3.5000 per share payable on May 15, 2025, ex-date on May 09, 2025 and record date on May 12, 2025. Reported Earnings • Apr 15
Full year 2024 earnings released: EPS: kr11.31 (vs kr0.029 loss in FY 2023) Full year 2024 results: EPS: kr11.31 (up from kr0.029 loss in FY 2023). Revenue: kr4.99b (up 16% from FY 2023). Net income: kr5.26b (up kr5.27b from FY 2023). Revenue is forecast to grow 9.0% p.a. on average during the next 3 years, compared to a 17% decline forecast for the Real Estate industry in Germany. Over the last 3 years on average, earnings per share has fallen by 56% per year but the company’s share price has only fallen by 11% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Apr 10
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to €16.30, the stock trades at a trailing P/E ratio of 17.2x. Average forward P/E is 9x in the Real Estate industry in Germany. Total loss to shareholders of 36% over the past three years. New Risk • Feb 24
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 43% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (9.5% operating cash flow to total debt). Minor Risk Large one-off items impacting financial results. Reported Earnings • Feb 21
Full year 2024 earnings released: EPS: kr11.31 (vs kr0.029 loss in FY 2023) Full year 2024 results: EPS: kr11.31 (up from kr0.029 loss in FY 2023). Revenue: kr5.06b (up 18% from FY 2023). Net income: kr5.26b (up kr5.27b from FY 2023). Revenue is forecast to grow 6.9% p.a. on average during the next 3 years, compared to a 12% decline forecast for the Real Estate industry in Germany. Over the last 3 years on average, earnings per share has fallen by 56% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings. New Risk • Feb 20
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.1% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (9.7% operating cash flow to total debt). Earnings are forecast to decline by an average of 0.1% per year for the foreseeable future. New Risk • Jan 15
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.3% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (9.7% operating cash flow to total debt). Earnings are forecast to decline by an average of 0.3% per year for the foreseeable future. Buy Or Sell Opportunity • Dec 27
Now 20% overvalued Over the last 90 days, the stock has fallen 22% to €19.30. The fair value is estimated to be €16.05, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years. Earnings per share has declined by 70%. Revenue is forecast to grow by 22% in 2 years. Earnings are forecast to grow by 19% in the next 2 years. Announcement • Dec 12
Sagax Announces Retirement of Urban Sjölund as Head of Asset Management, Effective 1 January 2025 The Head of Asset Management for Sagax Sweden, Urban Sjölund, is leaving after 10 years at the company. Urban is to retire on 1 January 2025 and will be at the company's disposal until a successor has assumed office. The recruitment process for his successor has been initiated. Buy Or Sell Opportunity • Dec 09
Now 24% overvalued Over the last 90 days, the stock has fallen 12% to €20.70. The fair value is estimated to be €16.68, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years. Earnings per share has declined by 70%. Revenue is forecast to grow by 22% in 2 years. Earnings are forecast to grow by 19% in the next 2 years. Reported Earnings • Oct 25
Third quarter 2024 earnings released Third quarter 2024 results: Revenue: kr1.34b (up 20% from 3Q 2023). Net income: kr2.20b (up 247% from 3Q 2023). Revenue is forecast to grow 8.4% p.a. on average during the next 3 years, compared to a 15% decline forecast for the Real Estate industry in Germany. Reported Earnings • Jul 16
Second quarter 2024 earnings released: EPS: kr1.22 (vs kr0.12 in 2Q 2023) Second quarter 2024 results: EPS: kr1.22 (up from kr0.12 in 2Q 2023). Revenue: kr1.21b (up 17% from 2Q 2023). Net income: kr978.0m (up kr925.0m from 2Q 2023). Profit margin: 81% (up from 5.1% in 2Q 2023). The increase in margin was primarily driven by lower expenses. Revenue is forecast to grow 8.6% p.a. on average during the next 3 years, compared to a 16% decline forecast for the Real Estate industry in Germany. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 68 percentage points per year, which is a significant difference in performance. Announcement • Jul 16
AB Sagax (publ) to Report Fiscal Year 2024 Results on Feb 21, 2025 AB Sagax (publ) announced that they will report fiscal year 2024 results on Feb 21, 2025 Announcement • Jul 15
AB Sagax (Publ) Provides Earnings Guidance for the Full Year 2024 AB Sagax (publ) provided earnings guidance for the full year 2024. For the year, company expected Profit from property management for 2024, meaning profit before revaluations and tax, based on the current property portfolio, announced acquisitions and divestments and current exchange rates, is expected to amount to SEK 4,300 Million. Reported Earnings • May 08
First quarter 2024 earnings released First quarter 2024 results: Revenue: kr1.19b (up 19% from 1Q 2023). Net income: kr1.08b (up kr1.35b from 1Q 2023). Profit margin: 91% (up from net loss in 1Q 2023). Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 16% decline forecast for the Real Estate industry in Germany. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 69 percentage points per year, which is a significant difference in performance. Upcoming Dividend • May 03
Upcoming dividend of kr3.10 per share Eligible shareholders must have bought the stock before 10 May 2024. Payment date: 16 May 2024. The company is not currently making a profit but it is cash flow positive. Trailing yield: 1.1%. Lower than top quartile of German dividend payers (4.6%). Lower than average of industry peers (3.4%). Reported Earnings • Apr 17
Full year 2023 earnings released: kr0.029 loss per share (vs kr6.12 profit in FY 2022) Full year 2023 results: kr0.029 loss per share (down from kr6.12 profit in FY 2022). Revenue: kr4.29b (up 16% from FY 2022). Net loss: kr13.0m (down 100% from profit in FY 2022). Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 15% decline forecast for the Real Estate industry in Germany. Over the last 3 years on average, earnings per share has fallen by 50% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Declared Dividend • Mar 04
Dividend of kr3.10 announced Shareholders will receive a dividend of kr3.10. Ex-date: 10th May 2024 Payment date: 16th May 2024 Dividend yield will be 14%, which is higher than the industry average of 3.2%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months. However, the dividend is well covered by cash flows (44% cash payout ratio). The dividend has increased by an average of 31% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Reported Earnings • Feb 23
Full year 2023 earnings released: kr0.029 loss per share (vs kr6.12 profit in FY 2022) Full year 2023 results: kr0.029 loss per share (down from kr6.12 profit in FY 2022). Revenue: kr4.32b (up 17% from FY 2022). Net loss: kr13.0m (down 100% from profit in FY 2022). Revenue is forecast to grow 8.9% p.a. on average during the next 3 years, compared to a 13% decline forecast for the Real Estate industry in Germany. Over the last 3 years on average, earnings per share has fallen by 50% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings. Announcement • Nov 15
AB Sagax (publ) has completed a Follow-on Equity Offering in the amount of SEK 2.12 billion. AB Sagax (publ) has completed a Follow-on Equity Offering in the amount of SEK 2.12 billion.
Security Name: Class B Shares
Security Type: Common Stock
Securities Offered: 10,000,000
Price\Range: SEK 212
Transaction Features: Subsequent Direct Listing Reported Earnings • Oct 28
Third quarter 2023 earnings released Third quarter 2023 results: Revenue: kr1.12b (up 19% from 3Q 2022). Net income: kr634.0m (down 9.7% from 3Q 2022). Profit margin: 57% (down from 75% in 3Q 2022). Revenue is forecast to grow 7.4% p.a. on average during the next 3 years, compared to a 14% decline forecast for the Real Estate industry in Germany. Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Announcement • Oct 25
AB Sagax (publ) (OM : SAGA A) agreed to acquire 10 properties in Spain and France for approximately SEK 430 million. AB Sagax (publ) (OM : SAGA A) agreed to acquire 10 properties in Spain and France for approximately SEK 430 million on October 24, 2023. The annual rental income amounts to the equivalent of SEK 26 million. Closing is expected to take place during the fourth quarter of 2023. Recent Insider Transactions • Sep 13
Chairman recently bought €1.9m worth of stock On the 7th of September, Staffan Salen bought around 100k shares on-market at roughly €19.27 per share. This transaction amounted to 1.8% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Staffan's only on-market trade for the last 12 months. Announcement • Jul 26
AB Sagax (publ) (OM:SAGA A) acquired 19 properties in Spain. AB Sagax (publ) (OM:SAGA A) acquired 19 properties in Spain on July 25, 2023.AB Sagax (publ) (OM:SAGA A) completed the acquisition of 19 properties in Spain on July 25, 2023. Reported Earnings • Jul 17
Second quarter 2023 earnings released Second quarter 2023 results: Revenue: kr1.05b (up 16% from 2Q 2022). Net income: kr53.0m (down 67% from 2Q 2022). Profit margin: 5.1% (down from 18% in 2Q 2022). Revenue is forecast to grow 5.2% p.a. on average during the next 3 years, compared to a 27% decline forecast for the Real Estate industry in Germany. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has increased by 14% per year, which means it is well ahead of earnings. Announcement • Jun 21
AB Sagax (publ) has completed a Follow-on Equity Offering in the amount of SEK 2.06 billion. AB Sagax (publ) has completed a Follow-on Equity Offering in the amount of SEK 2.06 billion.
Security Name: B Shares
Security Type: Common Stock
Securities Offered: 10,000,000
Price\Range: SEK 206
Transaction Features: Subsequent Direct Listing Announcement • May 25
AB Sagax (publ) (OM:SAGA A) acquired 6 central warehouse properties in Finland from Meko AB (publ) (OM:MEKO) for EUR 36.5 million. AB Sagax (publ) (OM:SAGA A) acquired 6 central warehouse properties in Finland from Meko AB (publ) (OM:MEKO) for EUR 36.5 million on May 24, 2023.AB Sagax (publ) (OM:SAGA A) completed the acquisition of 6 central warehouse properties in Finland from Meko AB (publ) (OM:MEKO) on May 24, 2023. Upcoming Dividend • May 03
Upcoming dividend of kr2.70 per share at 1.1% yield Eligible shareholders must have bought the stock before 10 May 2023. Payment date: 16 May 2023. Payout ratio is a comfortable 44% and this is well supported by cash flows. Trailing yield: 1.1%. Lower than top quartile of German dividend payers (4.5%). Lower than average of industry peers (3.6%). Reported Earnings • Apr 19
Full year 2022 earnings released: EPS: kr6.12 (vs kr22.10 in FY 2021) Full year 2022 results: EPS: kr6.12 (down from kr22.10 in FY 2021). Revenue: kr3.70b (up 19% from FY 2021). Net income: kr2.72b (down 72% from FY 2021). Profit margin: 74% (down from 316% in FY 2021). Revenue is forecast to grow 7.1% p.a. on average during the next 3 years, compared to a 35% decline forecast for the Real Estate industry in Germany. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has increased by 29% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Feb 18
AB Sagax (Publ) Proposes Dividend of Series A and Series B and Series D Ordinary Shares The Board of Directors of AB Sagax (publ) proposed that the dividend per Class A and B share be raised to SEK 2.70 (2.15). The Board also proposes a dividend of SEK 2.00 per Class D share through a quarterly payment of SEK 0.50. The dividend proposal is in accordance with the company’s dividend policy. Reported Earnings • Feb 18
Full year 2022 earnings released: EPS: kr6.12 (vs kr22.10 in FY 2021) Full year 2022 results: EPS: kr6.12 (down from kr22.10 in FY 2021). Revenue: kr3.73b (up 20% from FY 2021). Net income: kr2.72b (down 72% from FY 2021). Profit margin: 73% (down from 316% in FY 2021). Revenue is forecast to grow 11% p.a. on average during the next 2 years, compared to a 13% decline forecast for the Real Estate industry in Germany. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Announcement • Feb 07
AB Sagax (publ) to Report Fiscal Year 2022 Results on Feb 17, 2023 AB Sagax (publ) announced that they will report fiscal year 2022 results on Feb 17, 2023 Announcement • Dec 21
Coop-Gruppe Genossenschaft entered into an agreement to acquire 36 properties in Spain from AB Sagax (publ) (OM:SAGA A) for €190 million. Coop-Gruppe Genossenschaft entered into an agreement to acquire 36 properties in Spain from AB Sagax (publ) (OM:SAGA A) for €190 million on December 20, 2022. Sagax divests for €180 million and €10 million in additional purchase price, rental income, or a combination thereof a Sagax's discretion. The purchase price exceeds the book value of the properties as of September 30, 2022 by €15.6 million, corresponding to 9%. The purchase price exceeds the book value of the properties as of December 31, 2021 by €27.2 million, corresponding to 17%. Sagax acquired the properties in February 2020 for €149.5 million. The divestment is structured as transfer of real property. The purchase price is not subject to any adjustment for so-called latent tax or in any other way. The transaction is estimated to trigger tax payments for Sagax of €2.1 million to 3.4 million. Closing is expected to take place during 2023. Valuation Update With 7 Day Price Move • Nov 29
Investor sentiment deteriorated over the past week After last week's 18% share price decline to €16.35, the stock trades at a trailing P/E ratio of 15.7x. Average forward P/E is 12x in the Real Estate industry in Germany. Total returns to shareholders of 44% over the past three years. Board Change • Nov 16
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. No experienced directors. 6 highly experienced directors. Independent Director Ulrika Werdelin was the last director to join the board, commencing their role in 2010. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Nov 12
Investor sentiment improved over the past week After last week's 19% share price gain to €21.50, the stock trades at a trailing P/E ratio of 16.6x. Average forward P/E is 9x in the Real Estate industry in Germany. Total returns to shareholders of 105% over the past three years. Reported Earnings • Oct 27
Third quarter 2022 earnings released Third quarter 2022 results: Revenue: kr954.0m (up 21% from 3Q 2021). Net income: kr702.0m (down 56% from 3Q 2021). Profit margin: 74% (down from 203% in 3Q 2021). Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 13% decline forecast for the Real Estate industry in Germany. Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Oct 22
Investor sentiment improved over the past week After last week's 17% share price gain to €15.85, the stock trades at a trailing P/E ratio of 11.1x. Average forward P/E is 7x in the Real Estate industry in Germany. Total returns to shareholders of 52% over the past three years. Valuation Update With 7 Day Price Move • Sep 20
Investor sentiment deteriorated over the past week After last week's 22% share price decline to €17.10, the stock trades at a trailing P/E ratio of 11.7x. Average forward P/E is 8x in the Real Estate industry in Germany. Total returns to shareholders of 61% over the past three years. Reported Earnings • Jul 15
Second quarter 2022 earnings released Second quarter 2022 results: Revenue: kr908.0m (up 17% from 2Q 2021). Net income: kr161.0m (down 93% from 2Q 2021). Profit margin: 18% (down from 276% in 2Q 2021). Over the next year, revenue is forecast to grow 14% compared to a 44% decline forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 42% per year but the company’s share price has only increased by 27% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jul 11
Investor sentiment improved over the past week After last week's 15% share price gain to €19.05, the stock trades at a trailing P/E ratio of 9.9x. Average forward P/E is 6x in the Real Estate industry in Germany. Total returns to shareholders of 104% over the past three years. Valuation Update With 7 Day Price Move • Jun 14
Investor sentiment deteriorated over the past week After last week's 17% share price decline to €19.00, the stock trades at a trailing P/E ratio of 9.9x. Average forward P/E is 8x in the Real Estate industry in Germany. Total returns to shareholders of 117% over the past three years. Reported Earnings • May 13
First quarter 2022 earnings released: EPS: kr3.56 (vs kr4.87 in 1Q 2021) First quarter 2022 results: EPS: kr3.56 (down from kr4.87 in 1Q 2021). Revenue: kr885.0m (up 21% from 1Q 2021). Net income: kr1.58b (down 27% from 1Q 2021). Over the next year, revenue is forecast to grow 13% compared to a 41% decline forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 38% per year whereas the company’s share price has increased by 41% per year. Valuation Update With 7 Day Price Move • May 09
Investor sentiment deteriorated over the past week After last week's 19% share price decline to €18.95, the stock trades at a trailing P/E ratio of 9.4x. Average forward P/E is 8x in the Real Estate industry in Germany. Total returns to shareholders of 147% over the past three years. Upcoming Dividend • May 05
Upcoming dividend of kr2.15 per share Eligible shareholders must have bought the stock before 12 May 2022. Payment date: 18 May 2022. Payout ratio is a comfortable 9.7% and this is well supported by cash flows. Trailing yield: 0.9%. Lower than top quartile of German dividend payers (4.1%). Lower than average of industry peers (4.1%). Board Change • Apr 27
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. No experienced directors. 6 highly experienced directors. Independent Director Ulrika Werdelin was the last director to join the board, commencing their role in 2010. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Apr 21
Full year 2021 earnings released: EPS: kr22.10 (vs kr8.52 in FY 2020) Full year 2021 results: EPS: kr22.10 (up from kr8.52 in FY 2020). Revenue: kr3.10b (up 7.0% from FY 2020). Net income: kr9.81b (up 164% from FY 2020). Over the next year, revenue is forecast to grow 14% compared to a 33% decline forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has increased by 46% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Mar 15
Investor sentiment improved over the past week After last week's 41% share price gain to €25.00, the stock trades at a trailing P/E ratio of 12.2x. Average forward P/E is 9x in the Real Estate industry in Germany. Total returns to shareholders of 207% over the past three years. Valuation Update With 7 Day Price Move • Feb 23
Investor sentiment deteriorated over the past week After last week's 16% share price decline to €21.90, the stock trades at a trailing P/E ratio of 11.5x. Average forward P/E is 9x in the Real Estate industry in Germany. Total returns to shareholders of 205% over the past three years. Reported Earnings • Feb 12
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: kr22.09 (up from kr8.44 in FY 2020). Revenue: kr3.12b (up 7.8% from FY 2020). Net income: kr9.81b (up 167% from FY 2020). Revenue was in line with analyst estimates. Over the next year, revenue is forecast to grow 13% compared to a 24% decline forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has increased by 48% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Dec 31
AB Sagax (publ) (OM:SAGA A) entered into an agreement to acquire Department and Stores Europe AB from Portwear Ab for SEK 22.2 million. AB Sagax (publ) (OM:SAGA A) entered into an agreement to acquire Department and Stores Europe AB from Portwear Ab for SEK 22.2 million on December 30, 2021. Valuation Update With 7 Day Price Move • Dec 15
Investor sentiment deteriorated over the past week After last week's 16% share price decline to €29.10, the stock trades at a trailing P/E ratio of 18.1x. Average forward P/E is 10x in the Real Estate industry in Germany. Total returns to shareholders of 321% over the past three years. Announcement • Dec 01
Cibus Nordic Real Estate AB (publ) (OM:CIBUS) completed the acquisition of Portfolio of 72 grocery stores in Finland from AB Sagax (publ) (OM:SAGA A). Cibus Nordic Real Estate AB (publ) (OM:CIBUS) agreed to acquire Portfolio of 72 grocery stores in Finland from AB Sagax (publ) (OM:SAGA A) for €74 million on June 16, 2021. As per the transaction, €37.6 million of the purchase price will be paid by 2 million newly issued shares in Cibus Nordic Real Estate AB (publ). The transaction expected to close during the fourth quarter of 2021.
Cibus Nordic Real Estate AB (publ) (OM:CIBUS) completed the acquisition of Portfolio of 72 grocery stores in Finland from AB Sagax (publ) (OM:SAGA A) on November 30, 2021. Reported Earnings • Oct 29
Third quarter 2021 earnings released Third quarter 2021 results: Revenue: kr793.0m (up 7.9% from 3Q 2020). Net income: kr1.61b (up 52% from 3Q 2020). Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has increased by 65% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Oct 18
Investor sentiment improved over the past week After last week's 17% share price gain to €31.50, the stock trades at a trailing P/E ratio of 21.1x. Average forward P/E is 10x in the Real Estate industry in Germany. Total returns to shareholders of 464% over the past three years. Reported Earnings • Jul 18
Second quarter 2021 earnings released: EPS kr4.82 (vs kr0.82 in 2Q 2020) Second quarter 2021 results: Revenue: kr775.0m (up 8.4% from 2Q 2020). Net income: kr2.14b (up kr1.79b from 2Q 2020). Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has increased by 75% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jun 18
AB Sagax (publ) (OM:SAGA A) acquired additional unknown stake in Nyfosa AB (publ) (OM:NYF). AB Sagax (publ) (OM:SAGA A) acquired additional unknown stake in Nyfosa AB (publ) (OM:NYF) on June 10, 2021. Sagax now holds 10.6% stake.
AB Sagax (publ) (OM:SAGA A) completed the acquisition of additional unknown stake in Nyfosa AB (publ) (OM:NYF) on June 10, 2021. Announcement • Jun 17
Cibus Nordic Real Estate AB (publ) (OM:CIBUS) agreed to acquire Portfolio of 72 grocery stores in Finland from AB Sagax (publ) (OM:SAGA A) for €74 million on June 16, 2021. Cibus Nordic Real Estate AB (publ) (OM:CIBUS) agreed to acquire Portfolio of 72 grocery stores in Finland from AB Sagax (publ) (OM:SAGA A) for €74 million on June 16, 2021. As per the transaction, €37.6 million of the purchase price will be paid by 2 million newly issued shares in Cibus Nordic Real Estate AB (publ). The transaction expected to close during the fourth quarter of 2021. Announcement • May 06
AB Sagax (publ) Approves Dividend for the Financial Year 2020 AB Sagax (publ) Approves dividend to the shareholders of SEK 1.65 per ordinary share of series A and series B and on a dividend to the shareholders of SEK 2.00 per ordinary share of series D for the financial year 2020, with a quarterly payment of SEK 0.50 per ordinary share of series D. The record date for receiving dividend for the ordinary shares of series A and series B is 7 May 2021. The record dates for receiving dividend for the ordinary shares of series D is Wednesday 30 June 2021, Thursday 30 September 2021, Thursday 30 December 2021 and Thursday 31 March 2022. The dividend is expected to be distributed by Euroclear on the third weekday after each record date. Reported Earnings • May 05
First quarter 2021 earnings released: EPS kr0.50 (vs kr1.74 in 1Q 2020) First quarter 2021 results: Revenue: kr745.0m (up 6.0% from 1Q 2020). Net income: kr2.16b (up 191% from 1Q 2020). Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has increased by 64% per year, which means it is well ahead of earnings. Upcoming Dividend • Apr 29
Upcoming dividend of kr1.65 per share Eligible shareholders must have bought the stock before 06 May 2021. Payment date: 12 May 2021. Trailing yield: 0.7%. Lower than top quartile of German dividend payers (3.2%). Lower than average of industry peers (3.1%). Reported Earnings • Apr 17
Full year 2020 earnings released: EPS kr8.44 (vs kr9.65 in FY 2019) Full year 2020 results: Revenue: kr2.90b (up 12% from FY 2019). Net income: kr3.68b (down 9.8% from FY 2019). Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has increased by 62% per year, which means it is tracking significantly ahead of earnings growth. Is New 90 Day High Low • Mar 02
New 90-day high: €18.20 The company is up 23% from its price of €14.85 on 02 December 2020. The German market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Real Estate industry, which is down 1.0% over the same period. Recent Insider Transactions • Feb 25
CEO & Director recently bought €3.4m worth of stock On the 22nd of February, David Mindus bought around 200k shares on-market at roughly €16.83 per share. This was the largest purchase by an insider in the last 3 months. This was David's only on-market trade for the last 12 months. Reported Earnings • Feb 11
Full year 2020 earnings released: EPS kr8.44 (vs kr9.60 in FY 2019) Full year 2020 results: Revenue: kr2.90b (up 12% from FY 2019). Net income: kr3.68b (down 9.8% from FY 2019). Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has increased by 50% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Feb 10
AB Sagax (publ) to Report Q1, 2021 Results on May 05, 2021 AB Sagax (publ) announced that they will report Q1, 2021 results on May 05, 2021 Announcement • Feb 09
AB Sagax (publ) to Report Nine Months, 2021 Results on Oct 28, 2021 AB Sagax (publ) announced that they will report nine months, 2021 results on Oct 28, 2021