DB:AOO

Stock Analysis Report

Executive Summary

Aedifica is a Regulated Real Estate Company under Belgian law specialised in European healthcare real estate, particularly in senior housing.

Snowflake

Fundamentals

Established dividend payer with acceptable track record.

Share Price & News

How has Aedifica's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

0.6%

AOO

-0.2%

DE REITs

1.4%

DE Market


1 Year Return

33.2%

AOO

24.9%

DE REITs

3.7%

DE Market

Return vs Industry: AOO exceeded the German REITs industry which returned 24.9% over the past year.

Return vs Market: AOO exceeded the German Market which returned 3.7% over the past year.


Shareholder returns

AOOIndustryMarket
7 Day0.6%-0.2%1.4%
30 Day0.4%4.0%1.3%
90 Day10.9%9.6%3.4%
1 Year51.5%33.2%29.4%24.9%7.0%3.7%
3 Year66.6%36.6%31.6%13.0%18.5%8.3%
5 Year162.9%97.7%58.2%23.8%42.2%22.9%

Price Volatility Vs. Market

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


Simply Wall St News

No news available

Valuation

Is Aedifica undervalued compared to its fair value and its price relative to the market?

16.29x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Undervalued: AOO (€104.2) is trading above our estimate of fair value (€85.03)

Significantly Undervalued: AOO is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: AOO is poor value based on its PE Ratio (16.3x) compared to the REITs industry average (8.2x).

PE vs Market: AOO is good value based on its PE Ratio (16.3x) compared to the German market (19.3x).


Price to Earnings Growth Ratio

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


Price to Book Ratio

PB vs Industry: AOO is overvalued based on its PB Ratio (1.8x) compared to the DE REITs industry average (1.6x).


Next Steps

Future Growth

How is Aedifica forecast to perform in the next 1 to 3 years based on estimates from 3 analysts?

14.1%

Forecasted annual revenue growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: Insufficient data to determine if AOO's forecast earnings growth is above the savings rate (0.2%).

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

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

Revenue vs Market: AOO's revenue (14.1% per year) is forecast to grow faster than the German market (5% per year).

High Growth Revenue: AOO's revenue (14.1% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

High Future ROE: AOO's Return on Equity is forecast to be low in 3 years time (11.6%).


Next Steps

Past Performance

How has Aedifica performed over the past 5 years?

25.4%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: AOO's earnings have grown significantly by 25.4% per year over the past 5 years.

Accelerating Growth: AOO's earnings growth over the past year (71.9%) exceeds its 5-year average (25.4% per year).

Earnings vs Industry: AOO earnings growth over the past year (71.9%) underperformed the REITs industry 103.4%.


Return on Equity

High ROE: AOO's Return on Equity (9.1%) is considered low.


Return on Assets

ROA vs Industry: AOO's Return on Assets is below or equal to the REITs industry average last year.


Return on Capital Employed

ROCE Improving: AOO has improved its Return on Capital Employed over the past 3 years.


Next Steps

Financial Health

How is Aedifica's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet

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

Debt Coverage by Assets: AOO's debt is not covered by short term assets (assets are 0x debt).


Financial Institutions Analysis

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

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

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

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

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

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


Next Steps

Dividend

What is Aedifica's current dividend yield, its reliability and sustainability?

2.68%

Current Dividend Yield


Upcoming Dividend Payment

Purchase Aedifica before the 'Buy Limit' to receive their next dividend payment.


Dividend Yield vs Market

company2.7%marketbottom25%1.5%markettop25%3.8%industryaverage3.0%forecastin3Years2.9%

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: AOO's dividend (2.68%) is higher than the bottom 25% of dividend payers in the German market (1.47%).

High Dividend: AOO's dividend (2.68%) is low compared to the top 25% of dividend payers in the German market (3.83%).

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

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


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (31.7%), AOO's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: AOO's dividends in 3 years are forecast to be thoroughly covered by earnings (2.9% payout ratio).


Next Steps

Management

What is the CEO of Aedifica's salary, the management and board of directors tenure and is there insider trading?

3.4yrs

Average management tenure


CEO

Mrics Gielens (54yo)

13.8yrs

Tenure

€1,033,259

Compensation

Mr. Stefaan Gielens, Mrics, serves as the Chief Executive Officer and Managing Director at Aedifica SA (formerly AEdifica Inc.) and serves as its Executive Manager. Mr. Gielens serves as Managing Director ...


CEO Compensation Analysis

Compensation vs. Market: Mrics's total compensation ($USD1.15M) is below average for companies of similar size in the German market ($USD2.80M).

Compensation vs Earnings: Mrics's compensation has increased by more than 20% in the past year.


Management Age and Tenure

3.4yrs

Average Tenure

45yo

Average Age

Experienced Management: AOO's management team is considered experienced (3.4 years average tenure).


Board Age and Tenure

4.0yrs

Average Tenure

57yo

Average Age

Experienced Board: AOO's board of directors are considered experienced (4 years average tenure).


Insider Trading

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


Ownership Breakdown


Management Team

  • Adeline Simont (59yo)

    Non-Executive Director

    • Tenure: 13.9yrs
    • Compensation: €26.00k
  • Ingrid Daerden (45yo)

    Executive Manager & CFO

    • Tenure: 1.1yrs
  • Laurence Gacoin (42yo)

    Executive Manager & COO

    • Tenure: 4.8yrs
  • Mrics Gielens (54yo)

    MD, CEO

    • Tenure: 13.8yrs
    • Compensation: €1.03m
  • Charles-Antoine van Aelst (33yo)

    Executive Manager & Chief investment Officer

    • Tenure: 2yrs
  • Eric Hohl (57yo)

    Director & Head of internal Audit

    • Tenure: 5yrs
    • Compensation: €26.00k
  • Martina Carlsson

    Control & Communication Manager

    • Tenure: 0yrs
  • Sven Bogaerts (42yo)

    Executive Manager

    • Tenure: 0yrs

Board Members

  • Jean Franken (71yo)

    Non-Executive Independent Director

    • Tenure: 6.3yrs
    • Compensation: €58.60k
  • Adeline Simont (59yo)

    Non-Executive Director

    • Tenure: 13.9yrs
    • Compensation: €26.00k
  • Serge Roger Wibaut (62yo)

    Independent Chairman of the Board

    • Tenure: 3.1yrs
    • Compensation: €69.10k
  • Mrics Gielens (54yo)

    MD, CEO

    • Tenure: 13.8yrs
    • Compensation: €1.03m
  • Luc Plasman (66yo)

    Non-Executive Independent Director

    • Tenure: 2yrs
    • Compensation: €39.50k
  • Eric Hohl (57yo)

    Director & Head of internal Audit

    • Tenure: 5yrs
    • Compensation: €26.00k
  • Katrien Kesteloot (57yo)

    Non-Executive Independent Director

    • Tenure: 4yrs
    • Compensation: €27.60k
  • Elisabeth May-Roberti (56yo)

    Non-Executive Independent Director

    • Tenure: 4yrs
    • Compensation: €44.20k
  • Marleen Willekens (54yo)

    Non-Executive Independent Director

    • Tenure: 2yrs
    • Compensation: €37.60k

Company Information

Aedifica SA's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Aedifica SA
  • Ticker: AOO
  • Exchange: DB
  • Founded: 2005
  • Industry: Health Care REITs
  • Sector: Real Estate
  • Market Cap: €2.568b
  • Shares outstanding: 24.60m
  • Website: https://www.aedifica.be

Number of Employees


Location

  • Aedifica SA
  • Rue Belliard 40 (box 11)
  • Brussels
  • Brussels
  • 1040
  • Belgium

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
AEDENXTBR (Euronext Brussels)YesOrdinary SharesBEEUROct 2006
AOODB (Deutsche Boerse AG)YesOrdinary SharesDEEUROct 2006
0DKXLSE (London Stock Exchange)YesOrdinary SharesGBEUROct 2006
AEDBBATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary SharesGBEUROct 2006

Biography

Aedifica is a Regulated Real Estate Company under Belgian law specialised in European healthcare real estate, particularly in senior housing. Aedifica has developed a portfolio of more than 260 sites in Be ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/19 20:50
End of Day Share Price2019/10/18 00:00
Earnings2019/06/30
Annual Earnings2019/06/30


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.