Declared Dividend • May 20
First quarter dividend of CA$0.15 announced Shareholders will receive a dividend of CA$0.15. Ex-date: 30th June 2026 Payment date: 15th July 2026 Dividend yield will be 1.6%, which is lower 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 (22% cash payout ratio). The dividend has not increased over the past 10 years but has been stable with no material reductions to payments, indicating a long track record of dividend stability. Announcement • May 14
5Q Partners, LLC acquired ONE11 ADVISORS from Altus Group Limited (TSX:AIF). 5Q Partners, LLC acquired ONE11 ADVISORS from Altus Group Limited (TSX:AIF) on May 13, 2026.
5Q Partners, LLC completed the acquisition of ONE11 ADVISORS from Altus Group Limited (TSX:AIF) on May 13, 2026. Announcement • May 12
Altus Group Limited announces Quarterly dividend, payable on July 15, 2026 Altus Group Limited announced Quarterly dividend of CAD 0.1500 per share payable on July 15, 2026, ex-date on June 30, 2026 and record date on June 30, 2026. Announcement • Apr 15
Altus Group Limited Unveils Argus Assist Within Argus Intelligence Platform Altus Group Limited unveiled its latest agentic AI feature, ARGUS Assist, at its Altus Connect conference in Palos Verdes, California. ARGUS Assist is the first AI experience layer on the Company’s flagship ARGUS Intelligence platform. It provides a conversational interface that is embedded across the entire platform that makes interacting with ARGUS data faster and more intuitive. Unlike generic AI tools, ARGUS Assist is purpose-built for commercial real estate. It draws on the structured financial models, valuation frameworks, and market data within ARGUS, ensuring every insight is grounded in the rigor and industry standards professionals expect. These capabilities are shaped by over 30 years of deep client adoption and domain expertise. With ARGUS Assist, users can ask questions or request analyses in natural language, and specialized AI agents automatically execute tasks across the ARGUS Intelligence platform. Instead of navigating multiple screens, tools, and calculations, users can quickly generate insights, perform analyses, and retrieve information through a single, intuitive interface. ARGUS Assist was designed with enterprise-grade security, strict data isolation, and privacy protection at its core, with all AI processing occurring within the secure ARGUS environment. Announcement • Apr 08
Altus Group Limited to Report Q1, 2026 Results on May 07, 2026 Altus Group Limited announced that they will report Q1, 2026 results on May 07, 2026 Announcement • Mar 16
Altus Group Limited (TSX:AIF) announces an Equity Buyback for CAD 200 million worth of its shares. Altus Group Limited (TSX:AIF) announces a share repurchase program. Under the Substantial Issuer Bid (SIB), the company will repurchase up to CAD 200 million of shares. The shares will be repurchased at a price of not less than CAD 42 and not more than CAD 52 per Share. The company intends to fund the bid with cash on hand. All Shares purchased by the company under the bid will be cancelled. If the aggregate purchase price for Shares validly deposited and not withdrawn pursuant to auction tenders at or below the finally determined purchase price and purchase price tenders would collectively exceed the Auction Tender Limit Amount, Altus Group will purchase Shares from the holders of Shares who made valid purchase price tenders or tendered their Shares at or below the finally determined purchase price on a pro rata basis, except that “odd lot” holders (holders of fewer than 100 Shares) will not be subject to proration. The purpose of the bid is to maximize value for shareholder and support the company’s liquidity needs. The program is valid till April 21, 2026. As of March 13, 2026, there were 39,666,476 Shares issued and outstanding. Announcement • Mar 03
Altus Group Limited, Annual General Meeting, May 06, 2026 Altus Group Limited, Annual General Meeting, May 06, 2026. Announcement • Feb 20
Altus Group Limited Approves Cash Dividend for the First Quarter Ending March 31, 2026. Payable on April 15, 2026 Altus Group Limited announced the Board approved the payment of a cash dividend of $0.15 per common share for the first quarter ending March 31, 2026. Payment will be made on April 15, 2026 to common shareholders of record as at March 31, 2026. Announcement • Feb 05
Altus Group Limited to Report Q4, 2025 Results on Feb 19, 2026 Altus Group Limited announced that they will report Q4, 2025 results After-Market on Feb 19, 2026 Announcement • Jan 07
Altus Group Limited Appoints Rich Sarkis as Chief Commercial Officer, Effective January 6, 2026 Altus Group Limited announced the promotion of Rich Sarkis to Chief Commercial Officer, effective immediately (January 6, 2026). In this role, Rich will lead the Company’s global commercial strategy, overseeing all of the Analytics businesses, sales, customer success, and go-to-market execution to support Altus’ strategic priorities and evolving customer needs. Rich joined Altus through the acquisition of Reonomy, the company he founded, which provided Altus with the technology to connect disparate data for advanced analytics applications. In 2025 he assumed the role of President, Software and Data, where he played a critical role in bringing ARGUS Intelligence to market. With deep industry expertise, strong stakeholder relationships, and already playing a key role in Altus’ operations, Rich is well positioned to keep advancing Altus’ commercial capabilities globally. He has been named to the Power Proptech list for four consecutive years, reflecting his leadership and impact within the CRE technology ecosystem. Announcement • Nov 26
Altus Group Limited (TSX:AIF) announces an Equity Buyback for CAD 350 million worth of its shares. Altus Group Limited (TSX:AIF) announces a share repurchase program. Under the Substantial Issuer Bid, the company will repurchase up to CAD 350 million of shares. An auction tender for a specified number of Shares will be at a price of not less than C$50.00 and not more than C$57.00 per Share. The company intends to fund the SIB with cash on hand. All Shares purchased by the company under the SIB will be cancelled. If the aggregate purchase price for Shares validly deposited and not withdrawn pursuant to auction tenders at or below the finally determined purchase price and purchase price tenders would collectively exceed the Auction Tender Limit Amount, Altus Group will purchase Shares from the holders of Shares who made valid purchase price tenders or tendered their Shares at or below the finally determined purchase price on a pro rata basis, except that “odd lot” holders (holders of fewer than 100 Shares) will not be subject to proration. Regardless of proration, Altus Group will always purchase at the purchase price such number of Shares from shareholders making valid proportionate tenders that results in such tendering shareholders maintaining their respective proportionate Share ownership in Altus Group following completion of the SIB (subject to nominal differences due to the quantity of Shares purchased from such shareholders being rounded down to the nearest whole number of Shares to avoid the purchase of fractional Shares). The program is valid till January 8, 2026. As of November 25, 2025, the company had 3,222,129 common shares outstanding. Announcement • Oct 08
Altus Group Limited to Report Q3, 2025 Results on Nov 06, 2025 Altus Group Limited announced that they will report Q3, 2025 results at 4:00 PM, US Eastern Standard Time on Nov 06, 2025 Announcement • Aug 13
Altus Group Reportedly Explores Sale Altus Group Limited (TSX:AIF) is exploring a potential sale after receiving inbound acquisition interest, two people familiar with the matter said on August 12, 2025. The Toronto-based company is working with investment bankers, who in recent weeks have been soliciting buyer interest, the sources said, adding potential buyers were expected to include private equity firms that could take Altus private. Altus' shares jumped 9% after Reuters reported the company is exploring a sale, raising the company's market capitalization to CAD 2.9 billion ($1.8 billion). The sources cautioned that no deal was guaranteed, and the company may decide to stay independent. They spoke on condition of anonymity to discuss confidential deliberations. Altus Group did not respond to a request for comment. Announcement • Jul 09
Altus Group Limited to Report Q2, 2025 Results on Aug 07, 2025 Altus Group Limited announced that they will report Q2, 2025 results After-Market on Aug 07, 2025 Announcement • May 13
Altus Group Limited Approves Dividend for the Second Quarter Ending June 30, 2025, Payable on July 15, 2025 Altus Group Limited announced that its Board of Directors approved the payment of a cash dividend of $0.15 per common share for the second quarter ending June 30, 2025. Payment will be made on July 15, 2025 to common shareholders of record as at June 30, 2025. Announcement • May 09
Altus Group Limited Earnings Guidance for the Second Quarter and Full Fiscal Year of 2025 Altus Group Limited provided Consolidated earnings guidance for the Second quarter and full fiscal year of 2025. For the first quarter, the company expects 1-3% revenue growth.
For the year, the company expects 3% – 5% revenue growth. Announcement • Apr 11
Altus Group Limited to Report Q1, 2025 Results on May 08, 2025 Altus Group Limited announced that they will report Q1, 2025 results After-Market on May 08, 2025 Announcement • Mar 04
Altus Group Limited, Annual General Meeting, May 07, 2025 Altus Group Limited, Annual General Meeting, May 07, 2025. Announcement • Jan 23
Altus Group Limited to Report Q4, 2024 Results on Feb 20, 2025 Altus Group Limited announced that they will report Q4, 2024 results After-Market on Feb 20, 2025 Announcement • Jan 03
Ryan, LLC completed the acquisition of Property Tax business of Altus Group Limited (TSX:AIF). Ryan, LLC signed a definitive agreement to acquire Property Tax business of Altus Group Limited (TSX:AIF) for CAD 700 million on July 8, 2024. The proceeds from the transaction will be used to Strengthen balance sheet and Facilitate value-creating growth investments, Return capital to shareholders and Restructure corporate overhead. In the event the Purchaser Breach Ryan has to pay $70 million to Altus Group.
The transaction is subject to approval by regulatory board. As of September 2, 2024, Canadian Competition Bureau is reviewing the transaction. The expected completion of the transaction is first half of 2025. In addition to the definitive agreement, Ryan has also committed to enter a C$15 million Altus Market Insights subscription agreement at the close of the transaction, with an initial three-year term of C$5 million per year. As of December 30, 2024, the regulatory waiting periods in connection with the transaction has expired, the transaction is now expected to close on or about January 1, 2025. Evercore Inc. acted as financial advisor for Altus Group Limited. Evercore Inc. acted as fairness opinion provider for Altus Group Limited. Stikeman Elliott LLP acted as legal advisor for Altus Group Limited. Cravath, Swaine & Moore LLP acted as legal advisor for Altus Group Limited. RBC Capital Markets, LLC acted as financial advisor to Ryan, LLC. Kirkland & Ellis LLP, Goodmans LLP, Arnold & Porter Kaye Scholer LLP served as legal counsel to Ryan, LLC. Travers Smith LLP acted as a legal advisor to Altus Group.
Ryan, LLC completed the acquisition of Property Tax business of Altus Group Limited (TSX:AIF) on January 2, 2025. Recent Insider Transactions • Nov 16
Independent Director recently bought €629k worth of stock On the 13th of November, William Brennan bought around 16k shares on-market at roughly €39.05 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth €1.4m. Insiders have collectively bought €230k more in shares than they have sold in the last 12 months. Buy Or Sell Opportunity • Nov 12
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 13% to €37.00. The fair value is estimated to be €30.53, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 6.7% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to decline by 23% in 2 years. Earnings are forecast to grow by 642% in the next 2 years. Reported Earnings • Nov 09
Third quarter 2024 earnings released: CA$0.06 loss per share (vs CA$0.02 profit in 3Q 2023) Third quarter 2024 results: CA$0.06 loss per share (down from CA$0.02 profit in 3Q 2023). Revenue: CA$128.4m (down 31% from 3Q 2023). Net loss: CA$2.88m (down 410% from profit in 3Q 2023). Revenue is expected to fall by 13% 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 44% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings. Announcement • Nov 08
Altus Group Limited Approves Cash Dividend for the Fourth Quarter Ending December 31, 2024, Payable on January 15, 2025 Altus Group Limited announced its board approved the payment of a cash dividend of $0.15 per common share for the fourth quarter ending December 31, 2024, with payment to be made on January 15, 2025 to common shareholders of record as at December 31, 2024. Announcement • Oct 08
Altus Group Limited to Report Q3, 2024 Results on Nov 07, 2024 Altus Group Limited announced that they will report Q3, 2024 results After-Market on Nov 07, 2024 New Risk • Oct 02
New minor risk - Insider selling There has been significant insider selling in the company's shares over the past 3 months. Total value of shares sold: €2.3m This is considered a minor risk. There are several reasons why an insider may be selling, including to cover a tax obligation or pay for some other expense. However, we generally consider it a negative if insiders have been selling, especially if they do so below the current price. It implies that they considered a lower price to be reasonable. This is a weak signal, but if there is a pattern of unexplained selling, it can be a sign the insider believes the company's stock is overpriced. Note: We only include open market transactions and private dispositions of directly owned stock by individuals, not by corporations or trusts. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.6x net interest cover). Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.4% net profit margin). Significant insider selling over the past 3 months (€2.3m sold). Recent Insider Transactions • Oct 02
Independent Director recently bought €1.4m worth of stock On the 24th of September, William Brennan bought around 39k shares on-market at roughly €36.02 per share. This transaction amounted to 2.3% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Despite this recent purchase, insiders have collectively sold €1.1m more in shares than they bought in the last 12 months. Recent Insider Transactions • Sep 28
Independent Director recently bought €1.4m worth of stock On the 24th of September, William Brennan bought around 39k shares on-market at roughly €36.02 per share. This transaction amounted to 2.3% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought €1.1m more in shares than they have sold in the last 12 months. Upcoming Dividend • Sep 21
Upcoming dividend of CA$0.15 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 15 October 2024. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 1.1%. Lower than top quartile of German dividend payers (4.7%). Lower than average of industry peers (2.4%). Declared Dividend • Aug 19
Second quarter dividend of CA$0.15 announced Shareholders will receive a dividend of CA$0.15. Ex-date: 27th September 2024 Payment date: 15th October 2024 Dividend yield will be 1.3%, which is lower than the industry average of 3.2%. Sustainability & Growth Dividend is not covered by earnings (dividend approximately 9x earnings). However, it is well covered by cash flows (26% cash payout ratio). The dividend has not increased over the past 10 years but has been stable with no material reductions to payments, indicating a long track record of dividend stability. The company's earnings per share (EPS) would need to grow by 940% to bring the payout ratio under control. EPS is expected to grow by 261% over the next 3 years, which means the dividend may need to be reduced to reach a sustainable payout ratio. Announcement • Aug 10
Altus Group Limited Approves Quarterly Dividend, Payable on October 15, 2024 Altus Group’s Board approved the payment of a cash dividend of $0.15 per common share for the third quarter ending September 30, 2024, with payment to be made on October 15, 2024 to common shareholders of record as at September 30, 2024. Reported Earnings • Aug 09
Second quarter 2024 earnings released: EPS: CA$0.05 (vs CA$0.26 in 2Q 2023) Second quarter 2024 results: EPS: CA$0.05 (down from CA$0.26 in 2Q 2023). Revenue: CA$206.7m (flat on 2Q 2023). Net income: CA$2.28m (down 81% from 2Q 2023). Profit margin: 1.1% (down from 5.8% in 2Q 2023). Revenue is expected to fall by 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 59 percentage points per year, which is a significant difference in performance. Announcement • Jul 18
Altus Group Limited Appoints Dan Hurley as Chief Revenue Officer Altus Group Limited announced that it has named Dan Hurley to the newly created role of Chief Revenue Officer. Dan will spearhead the Company’s global revenue generation with oversight of Altus Group’s global sales and marketing functions. Dan brings over two decades of experience in scaling companies and executing successful go-to-market strategies that maximize revenue potential. Throughout his career, he spent over 13 years at SAP, where he held several senior leadership roles, most recently as Regional Vice President of Sales. His past experience also includes senior roles at commercial real estate-focused companies HighTower Inc. (now VTS Inc.) and Anaplan Inc. Dan holds an MBA from the Jones Graduate School of Business (Rice University) and a Bachelor of Science in Engineering from the University of Massachusetts Amherst. Announcement • Jul 11
Ryan, LLC signed a definitive agreement to acquire Property Tax business of Altus Group Limited (TSX:AIF) for CAD 700 million. Ryan, LLC signed a definitive agreement to acquire Property Tax business of Altus Group Limited (TSX:AIF) for CAD 700 million on July 9, 2024. The proceeds from the transaction will be used to Strengthen balance sheet and Facilitate value-creating growth investments, Return capital to shareholders and Restructure corporate overhead
The transaction is subject to approval by regulatory board / committee. The expected completion of the transaction is first half of 2025. In addition to the definitive agreement, Ryan has also committed to enter a C$15 million Altus Market Insights subscription agreement at the close of the transaction, with an initial three-year term of C$5 million per year.
Evercore Inc. acted as financial advisor for Altus Group Limited. Evercore Inc. acted as fairness opinion provider for Altus Group Limited. Stikeman Elliott LLP acted as legal advisor for Altus Group Limited. Cravath, Swaine & Moore LLP acted as legal advisor for Altus Group Limited. RBC Capital Markets, LLC acted as financial advisor to Ryan, LLC. Kirkland & Ellis LLP, Goodmans LLP, Arnold & Porter Kaye Scholer LLP served as legal counsel to Ryan, LLC. Announcement • Jul 09
Altus Group Limited to Report Q2, 2024 Results on Aug 08, 2024 Altus Group Limited announced that they will report Q2, 2024 results After-Market on Aug 08, 2024 Board Change • Jun 02
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director Tom Warsop was the last director to join the board, commencing their role in 2024. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Declared Dividend • May 13
First quarter dividend of CA$0.15 announced Shareholders will receive a dividend of CA$0.15. Ex-date: 28th June 2024 Payment date: 15th July 2024 Dividend yield will be 1.4%, which is lower than the industry average of 3.2%. Sustainability & Growth Dividend is not covered by earnings (218% earnings payout ratio). However, it is well covered by cash flows (31% cash payout ratio). The dividend has not increased over the past 10 years but has been stable with no material reductions to payments, indicating a long track record of dividend stability. The company's earnings per share (EPS) would need to grow by 142% to bring the payout ratio under control. EPS is expected to grow by 68% over the next year, which means the dividend may need to be reduced to reach a sustainable payout ratio. Reported Earnings • May 03
First quarter 2024 earnings released First quarter 2024 results: Revenue: CA$199.5m (up 4.6% from 1Q 2023). Net loss: CA$153.0k (loss narrowed 94% from 1Q 2023). Revenue is forecast to grow 11% p.a. on average during the next 2 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 67 percentage points per year, which is a significant difference in performance. Announcement • May 03
Altus Group Limited Declares Dividend for the Second Quarter Ending June 30, 2024, Payable on July 15, 2024 Altus Group Limited’s Board approved the payment of a cash dividend of $0.15 per common share for the second quarter ending June 30, 2024, with payment to be made on July 15, 2024 to common shareholders of record as at June 30, 2024. Announcement • Apr 09
Altus Group Limited to Report Q1, 2024 Results on May 02, 2024 Altus Group Limited announced that they will report Q1, 2024 results After-Market on May 02, 2024 Upcoming Dividend • Mar 20
Upcoming dividend of CA$0.15 per share Eligible shareholders must have bought the stock before 27 March 2024. Payment date: 15 April 2024. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 1.2%. Lower than top quartile of German dividend payers (5.0%). Lower than average of industry peers (3.8%). Recent Insider Transactions • Mar 07
Insider recently sold €390k worth of stock On the 4th of March, Alex Probyn sold around 11k shares on-market at roughly €35.19 per share. This transaction amounted to 44% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €185k more than they bought in the last 12 months. Declared Dividend • Feb 28
Fourth quarter dividend of CA$0.15 announced Shareholders will receive a dividend of CA$0.15. Ex-date: 27th March 2024 Payment date: 15th April 2024 Dividend yield will be 1.4%, which is lower than the industry average of 3.2%. Sustainability & Growth Dividend is not covered by earnings (266% earnings payout ratio). However, it is well covered by cash flows (46% cash payout ratio). The dividend has not increased over the past 10 years but has been stable with no material reductions to payments, indicating a long track record of dividend stability. The company's earnings per share (EPS) would need to grow by 195% to bring the payout ratio under control. EPS is expected to grow by 161% over the next 2 years, which means the dividend may need to be reduced to reach a sustainable payout ratio. New Risk • Feb 26
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 45% 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 Interest payments are not well covered by earnings (2.5x net interest cover). Minor Risk Large one-off items impacting financial results. Reported Earnings • Feb 23
Full year 2023 earnings released: EPS: CA$0.23 (vs CA$0.02 loss in FY 2022) Full year 2023 results: EPS: CA$0.23 (up from CA$0.02 loss in FY 2022). Revenue: CA$772.8m (up 5.1% from FY 2022). Net income: CA$10.2m (up CA$11.1m from FY 2022). Profit margin: 1.3% (up from net loss in FY 2022). The move to profitability was driven by higher revenue. Revenue is forecast to grow 10% 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, the company's share price growth rate has exceeded its earnings growth rate by 61 percentage points per year, which is a significant difference in performance. Buy Or Sell Opportunity • Jan 25
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 10% to €29.00. The fair value is estimated to be €36.32, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Earnings per share has declined by 65%. Revenue is forecast to grow by 21% in 2 years. Earnings are forecast to grow by 3,308% in the next 2 years. Announcement • Jan 23
Altus Group Limited to Report Q4, 2023 Results on Feb 22, 2024 Altus Group Limited announced that they will report Q4, 2023 results After-Market on Feb 22, 2024 Buying Opportunity • Jan 11
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 15%. The fair value is estimated to be €36.76, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Earnings per share has declined by 65%. Revenue is forecast to grow by 21% in 2 years. Earnings is forecast to grow by 3,308% in the next 2 years. Upcoming Dividend • Dec 21
Upcoming dividend of CA$0.15 per share at 1.4% yield Eligible shareholders must have bought the stock before 28 December 2023. Payment date: 15 January 2024. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 1.4%. Lower than top quartile of German dividend payers (5.1%). Lower than average of industry peers (3.2%). New Risk • Nov 14
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 7.5% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.7x net interest cover). Minor Risks Share price has been volatile over the past 3 months (7.5% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.2% net profit margin). Announcement • Nov 11
Altus Group Limited Approves Cash Dividend for the Fourth Quarter Ending December 31, 2023, Payable on January 15, 2024 Altus Group Limited announced its Board of Directors approved the payment of a cash dividend of $0.15 per common share for the fourth quarter ending December 31, 2023, with payment to be made on January 15, 2024 to common shareholders of record as at December 31, 2023. New Risk • Nov 11
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 0.2% Last year net profit margin: 2.1% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.6x net interest cover). Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.2% net profit margin). Reported Earnings • Nov 11
Third quarter 2023 earnings released: EPS: CA$0.02 (vs CA$0.15 in 3Q 2022) Third quarter 2023 results: EPS: CA$0.02 (down from CA$0.15 in 3Q 2022). Revenue: CA$185.2m (up 4.2% from 3Q 2022). Net income: CA$929.0k (down 86% from 3Q 2022). Profit margin: 0.5% (down from 3.8% in 3Q 2022). Revenue is forecast to grow 11% p.a. on average during the next 2 years, compared to a 15% 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 61 percentage points per year, which is a significant difference in performance. Announcement • Oct 17
Altus Group Limited to Report Q3, 2023 Results on Nov 09, 2023 Altus Group Limited announced that they will report Q3, 2023 results After-Market on Nov 09, 2023 Upcoming Dividend • Sep 21
Upcoming dividend of CA$0.15 per share at 1.1% yield Eligible shareholders must have bought the stock before 28 September 2023. Payment date: 16 October 2023. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 1.1%. Lower than top quartile of German dividend payers (4.8%). Lower than average of industry peers (3.4%). Announcement • Aug 11
Altus Group Limited Approves Cash Dividend for the Third Quarter Ending September 30, 2023, Payable on October 16, 2023 Altus Group Limited's Board of Directors approved the payment of a cash dividend of $0.15 per common share for the third quarter ending September 30, 2023, with payment to be made on October 16, 2023 to common shareholders of record as at September 30, 2023. Reported Earnings • Aug 11
Second quarter 2023 earnings released: EPS: CA$0.26 (vs CA$0.28 in 2Q 2022) Second quarter 2023 results: EPS: CA$0.26 (down from CA$0.28 in 2Q 2022). Revenue: CA$205.2m (flat on 2Q 2022). Net income: CA$11.9m (down 5.6% from 2Q 2022). Profit margin: 5.8% (down from 6.1% in 2Q 2022). Revenue is forecast to grow 9.2% p.a. on average during the next 2 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 52% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Announcement • Jul 14
Altus Group Limited to Report Q2, 2023 Results on Aug 10, 2023 Altus Group Limited announced that they will report Q2, 2023 results After-Market on Aug 10, 2023 New Risk • Jul 03
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 6.8% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (15% operating cash flow to total debt). Minor Risks Share price has been volatile over the past 3 months (6.8% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (1.1% net profit margin). Announcement • Jun 21
Altus Group Limited Approves Cash Dividend for the Second Quarter Ending June 30, 2023, Payable on July 17, 2023 Altus Group Limited announced that the Board of Directors has approved the payment of a cash dividend of $0.15 per common share for the second quarter ending June 30, 2023. Payment will be made on July 17, 2023 to common shareholders of record as at June 30, 2023. Reported Earnings • May 07
First quarter 2023 earnings released: CA$0.05 loss per share (vs CA$0.26 loss in 1Q 2022) First quarter 2023 results: CA$0.05 loss per share (improved from CA$0.26 loss in 1Q 2022). Revenue: CA$190.8m (up 14% from 1Q 2022). Net loss: CA$2.41m (loss narrowed 79% from 1Q 2022). Revenue is forecast to grow 10% p.a. on average during the next 2 years, compared to a 34% decline forecast for the Real Estate industry in Germany. Over the last 3 years on average, earnings per share has fallen by 45% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings. Reported Earnings • Feb 25
Full year 2022 earnings released: CA$0.02 loss per share (vs CA$0.62 profit in FY 2021) Full year 2022 results: CA$0.02 loss per share (down from CA$0.62 profit in FY 2021). Revenue: CA$735.5m (up 18% from FY 2021). Net loss: CA$886.0k (down 103% from profit in FY 2021). Revenue is forecast to grow 8.4% 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 fallen by 36% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Announcement • Feb 01
Altus Group Limited to Report Q4, 2022 Results on Feb 23, 2023 Altus Group Limited announced that they will report Q4, 2022 results at 4:00 PM, US Eastern Standard Time on Feb 23, 2023 Upcoming Dividend • Dec 22
Upcoming dividend of CA$0.15 per share Eligible shareholders must have bought the stock before 29 December 2022. Payment date: 16 January 2023. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 1.1%. Lower than top quartile of German dividend payers (5.1%). Lower than average of industry peers (6.5%). Recent Insider Transactions • Dec 10
Insider recently sold €246k worth of stock On the 5th of December, Alex Probyn sold around 7k shares on-market at roughly €37.85 per share. This transaction amounted to 19% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Despite this recent sale, insiders have collectively bought €225k more than they sold in the last 12 months. Reported Earnings • Nov 16
Third quarter 2022 earnings released: EPS: CA$0.15 (vs CA$0.007 loss in 3Q 2021) Third quarter 2022 results: EPS: CA$0.15 (up from CA$0.007 loss in 3Q 2021). Revenue: CA$177.7m (up 17% from 3Q 2021). Net income: CA$6.83m (up CA$7.12m from 3Q 2021). Profit margin: 3.8% (up from net loss in 3Q 2021). Revenue is forecast to grow 7.6% 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 9% per year but the company’s share price has increased by 16% per year, which means it is well ahead of earnings. Reported Earnings • Nov 12
Third quarter 2022 earnings released: EPS: CA$0.15 (vs CA$0.007 loss in 3Q 2021) Third quarter 2022 results: EPS: CA$0.15 (up from CA$0.007 loss in 3Q 2021). Revenue: CA$177.7m (up 17% from 3Q 2021). Net income: CA$6.83m (up CA$7.12m from 3Q 2021). Profit margin: 3.8% (up from net loss in 3Q 2021). Revenue is forecast to grow 7.7% 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 fallen by 9% per year but the company’s share price has increased by 14% per year, which means it is well ahead of earnings. Upcoming Dividend • Sep 21
Upcoming dividend of CA$0.15 per share Eligible shareholders must have bought the stock before 28 September 2022. Payment date: 17 October 2022. The company is paying out more than 100% of its profits and is paying out 88% of its cash flow. Trailing yield: 1.3%. Lower than top quartile of German dividend payers (5.0%). Lower than average of industry peers (5.7%). Reported Earnings • Aug 13
Second quarter 2022 earnings released: EPS: CA$0.28 (vs CA$0.40 in 2Q 2021) Second quarter 2022 results: EPS: CA$0.28 (down from CA$0.40 in 2Q 2021). Revenue: CA$206.4m (up 19% from 2Q 2021). Net income: CA$12.6m (down 23% from 2Q 2021). Profit margin: 6.1% (down from 9.4% in 2Q 2021). Over the next year, revenue is forecast to grow 11% compared to a 46% decline forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has increased by 17% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Jun 22
Upcoming dividend of CA$0.15 per share Eligible shareholders must have bought the stock before 29 June 2022. Payment date: 15 July 2022. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 1.4%. Lower than top quartile of German dividend payers (4.4%). Lower than average of industry peers (4.4%). Board Change • Jun 02
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 4 experienced directors. 3 highly experienced directors. Director Mike Gordon was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • May 06
First quarter 2022 earnings released: CA$0.26 loss per share (vs CA$0.065 profit in 1Q 2021) First quarter 2022 results: CA$0.26 loss per share (down from CA$0.065 profit in 1Q 2021). Revenue: CA$167.6m (up 22% from 1Q 2021). Net loss: CA$11.5m (down CA$14.2m from profit in 1Q 2021). Over the next year, revenue is forecast to grow 14% compared to a 32% decline forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 44% per year but the company’s share price has only increased by 25% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Mar 23
Upcoming dividend of CA$0.15 per share Eligible shareholders must have bought the stock before 30 March 2022. Payment date: 18 April 2022. Payout ratio is on the higher end at 97%, however this is supported by cash flows. Trailing yield: 1.3%. Lower than top quartile of German dividend payers (3.6%). Lower than average of industry peers (3.3%). Recent Insider Transactions • Mar 01
Insider recently bought €66k worth of stock On the 25th of February, Jim Hannon bought around 2k shares on-market at roughly €34.54 per share. In the last 3 months, there was an even bigger purchase from another insider worth €222k. Despite this recent purchase, insiders have collectively sold €470k more in shares than they bought in the last 12 months. Reported Earnings • Feb 26
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: CA$0.62 (down from CA$0.67 in FY 2020). Revenue: CA$625.4m (up 11% from FY 2020). Net income: CA$25.7m (down 4.9% from FY 2020). Profit margin: 4.1% (down from 4.8% in FY 2020). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Over the next year, revenue is forecast to grow 16% compared to a 27% decline forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 70% per year but the company’s share price has only increased by 25% per year, which means it is significantly lagging earnings growth. Recent Insider Transactions • Feb 12
CEO & Director recently bought €222k worth of stock On the 9th of February, Michael Gordon bought around 6k shares on-market at roughly €36.97 per share. This was the largest purchase by an insider in the last 3 months. This was Michael's only on-market trade for the last 12 months. Recent Insider Transactions • Dec 16
Chief Information Officer recently sold €243k worth of stock On the 10th of December, Edward Orlik sold around 5k shares on-market at roughly €48.66 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €984k more than they bought in the last 12 months. Reported Earnings • Nov 12
Third quarter 2021 earnings released: CA$0.01 loss per share (vs CA$0.23 profit in 3Q 2020) The company reported a soft third quarter result with weaker earnings and weaker control over costs, although revenues improved. Third quarter 2021 results: Revenue: CA$151.8m (up 13% from 3Q 2020). Net loss: CA$295.0k (down 103% from profit in 3Q 2020). Over the last 3 years on average, earnings per share has increased by 83% per year but the company’s share price has only increased by 42% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Sep 21
Upcoming dividend of CA$0.15 per share Eligible shareholders must have bought the stock before 28 September 2021. Payment date: 15 October 2021. Trailing yield: 0.9%. Lower than top quartile of German dividend payers (3.2%). Lower than average of industry peers (3.0%). Announcement • Sep 14
Altus Group Limited Provides Consolidated Earnings Guidance for the Second Half, Third Quarter and Full Year of Fiscal Year 2021 Altus Group Limited provided consolidated earnings guidance for the second half, third quarter and full year of fiscal year 2021. For the second half, the company expects a strong second half of the year to deliver mid-teen year-over-year growth in consolidated constant currency revenues. Revenue growth is expected to accelerate. Over time revenue growth is also expected to pick up.
For the quarter, the company expects consolidated revenue to be in the range of $146 million to $149 million.
For the full year, the expects consolidated revenue to be in the range of $617 million to $623 million. Reported Earnings • Aug 13
Second quarter 2021 earnings released: EPS CA$0.40 (vs CA$0.28 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: CA$173.5m (up 12% from 2Q 2020). Net income: CA$16.3m (up 44% from 2Q 2020). Profit margin: 9.4% (up from 7.3% in 2Q 2020). Over the last 3 years on average, earnings per share has increased by 90% per year but the company’s share price has only increased by 26% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Jun 22
Upcoming dividend of CA$0.15 per share Eligible shareholders must have bought the stock before 29 June 2021. Payment date: 15 July 2021. Trailing yield: 1.1%. Lower than top quartile of German dividend payers (3.1%). Lower than average of industry peers (2.9%). Reported Earnings • May 08
First quarter 2021 earnings released: EPS CA$0.07 (vs CA$0.044 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: CA$137.2m (up 4.5% from 1Q 2020). Net income: CA$2.64m (up 50% from 1Q 2020). Profit margin: 1.9% (up from 1.3% in 1Q 2020). Announcement • May 07
Altus Group Limited (TSX:AIF) acquired StratoDem Analytics for $24.4 million. Altus Group Limited (TSX:AIF) acquired StratoDem Analytics for $24.4 million on May 4, 2021. The consideration is paid in cash and common shares and is subject to adjustments. StratoDem Analytics team will join the Altus Analytics business unit.
Altus Group Limited (TSX:AIF) completed the acquisition of StratoDem Analytics on May 4, 2021. Recent Insider Transactions • Mar 25
Insider recently sold €218k worth of stock On the 19th of March, Michael Commons sold around 5k shares on-market at roughly €41.85 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €2.1m more than they bought in the last 12 months. Upcoming Dividend • Mar 24
Upcoming dividend of CA$0.15 per share Eligible shareholders must have bought the stock before 30 March 2021. Payment date: 15 April 2021. Trailing yield: 1.0%. Lower than top quartile of German dividend payers (3.3%). Lower than average of industry peers (3.0%). Announcement • Mar 19
Altus Group Limited Approves Payment of Cash Dividend for the First Quarter Ending March 31, 2021, Payable on April 15, 2021 Altus Group Limited announced that the Board of Directors has approved the payment of a cash dividend of $0.15 per common share for the first quarter ending March 31, 2021. Payment will be made on April 15, 2021 to common shareholders of record as at March 31, 2021. Announcement • Mar 10
Altus Group Limited (TSX:AIF) agreed to acquire Finance Active SAS for €100 million. Altus Group Limited (TSX:AIF) agreed to acquire Finance Active SAS for €100 million on March 9, 2021. The consideration is on a debt free, cash free basis, and subject to adjustments. The cash portion of the purchase price will be funded primarily by drawing down on the Company’s credit facility. For the period December 31, 2020, Finance Active generated gross revenue of approximately €25 million. Pursuant to the requirements of French Law and as documented in the Agreement, Finance Active must undertake an information and consultation process with its Works Council, prior to the ultimate shareholders of Finance Active accepting the offer and signing the definitive share purchase agreement. Under the terms of the Agreement, the vendors have agreed to exclusivity covenants in favour of Altus Group extending to December 31, 2021. The definitive share purchase agreement will contain other conditions that must be satisfied before the transaction is completed, including approval of the Toronto Stock Exchange. It is anticipated that, if completed, the transaction will close in the second quarter. 
