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Aroundtown

DB:AT1
Snowflake Description

Solid track record and fair value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
AT1
DB
€9B
Market Cap
  1. Home
  2. DE
  3. Real Estate
Company description

Aroundtown SA, together with its subsidiaries, operates as a real estate investment company in Germany, the Netherlands, the United Kingdom, and internationally. The last earnings update was 25 days ago. More info.


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AT1 Share Price and Events
7 Day Returns
-0.6%
DB:AT1
-5%
DE Real Estate
1.6%
DE Market
1 Year Returns
6.8%
DB:AT1
-0.9%
DE Real Estate
-7.4%
DE Market
AT1 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Aroundtown (AT1) -0.6% 1.9% -1.7% 6.8% - -
DE Real Estate -5% -9% -8.9% -0.9% 29.6% 106.8%
DE Market 1.6% 1.9% 2.6% -7.4% 14.7% 9.4%
1 Year Return vs Industry and Market
  • AT1 outperformed the Real Estate industry which returned -0.9% over the past year.
  • AT1 outperformed the Market in Germany which returned -7.4% over the past year.
Price Volatility
Industry
5yr Volatility vs Market

AT1 Value

 Is Aroundtown undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Aroundtown to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Aroundtown.

DB:AT1 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 11 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 9.4%
Perpetual Growth Rate 10-Year DE Government Bond Rate 0.2%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:AT1
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6%
Real Estate Unlevered Beta Simply Wall St/ S&P Global 1.03
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.035 (1 + (1- 26.01%) (99.02%))
1.531
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.53
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (1.531 * 5.96%)
9.35%

Discounted Cash Flow Calculation for DB:AT1 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Aroundtown is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

DB:AT1 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (EUR, Millions) Source Present Value
Discounted (@ 9.35%)
2019 -1,316.03 Analyst x4 -1,203.47
2020 -526.60 Analyst x4 -440.38
2021 585.00 Analyst x3 447.37
2022 678.14 Est @ 15.92% 474.25
2023 754.19 Est @ 11.21% 482.32
2024 813.91 Est @ 7.92% 476.00
2025 859.58 Est @ 5.61% 459.71
2026 893.93 Est @ 4% 437.19
2027 919.55 Est @ 2.87% 411.26
2028 938.62 Est @ 2.07% 383.89
Present value of next 10 years cash flows €1,928.14
DB:AT1 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= €938.62 × (1 + 0.23%) ÷ (9.35% – 0.23%)
€10,310.26
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= €10,310.26 ÷ (1 + 9.35%)10
€4,216.78
DB:AT1 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= €1,928.14 + €4,216.78
€6,144.93
Equity Value per Share
(EUR)
= Total value / Shares Outstanding
= €6,144.93 / 1,128.58
€5.44
DB:AT1 Discount to Share Price
Calculation Result
Value per share (EUR) From above. €5.44
Current discount Discount to share price of €7.67
= -1 x (€7.67 - €5.44) / €5.44
-40.9%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Aroundtown is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Aroundtown's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Aroundtown's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:AT1 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in EUR €1.56
DB:AT1 Share Price ** DB (2019-06-21) in EUR €7.67
Germany Real Estate Industry PE Ratio Median Figure of 35 Publicly-Listed Real Estate Companies 13.22x
Germany Market PE Ratio Median Figure of 425 Publicly-Listed Companies 19.87x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Aroundtown.

DB:AT1 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= DB:AT1 Share Price ÷ EPS (both in EUR)

= 7.67 ÷ 1.56

4.9x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Aroundtown is good value based on earnings compared to the DE Real Estate industry average.
  • Aroundtown is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does Aroundtown's expected growth come at a high price?
Raw Data
DB:AT1 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 4.9x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 11 Analysts
-13.4%per year
Germany Real Estate Industry PEG Ratio Median Figure of 20 Publicly-Listed Real Estate Companies 0.6x
Germany Market PEG Ratio Median Figure of 271 Publicly-Listed Companies 1.46x

*Line of best fit is calculated by linear regression .

DB:AT1 PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 4.9x ÷ -13.4%

-0.37x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Aroundtown earnings are not expected to grow next year, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Aroundtown's assets?
Raw Data
DB:AT1 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in EUR €8.69
DB:AT1 Share Price * DB (2019-06-21) in EUR €7.67
Germany Real Estate Industry PB Ratio Median Figure of 42 Publicly-Listed Real Estate Companies 1.31x
Germany Market PB Ratio Median Figure of 575 Publicly-Listed Companies 1.8x
DB:AT1 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= DB:AT1 Share Price ÷ Book Value per Share (both in EUR)

= 7.67 ÷ 8.69

0.88x

* Primary Listing of Aroundtown.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Aroundtown is good value based on assets compared to the DE Real Estate industry average.
X
Value checks
We assess Aroundtown's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Real Estate industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Real Estate industry average (and greater than 0)? (1 check)
  5. Aroundtown has a total score of 3/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

AT1 Future Performance

 How is Aroundtown expected to perform in the next 1 to 3 years based on estimates from 11 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
-13.4%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Aroundtown expected to grow at an attractive rate?
  • Aroundtown's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 0.2%.
Growth vs Market Checks
  • Aroundtown's earnings are expected to decrease over the next 1-3 years, this is below the Germany market average.
  • Aroundtown's revenue growth is expected to exceed the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:AT1 Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:AT1 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 11 Analysts -13.4%
DB:AT1 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 11 Analysts 9.8%
Germany Real Estate Industry Earnings Growth Rate Market Cap Weighted Average -4.5%
Germany Real Estate Industry Revenue Growth Rate Market Cap Weighted Average 3.2%
Germany Market Earnings Growth Rate Market Cap Weighted Average 12.5%
Germany Market Revenue Growth Rate Market Cap Weighted Average 5.1%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
DB:AT1 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 11 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:AT1 Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-12-31 1,110 627 2
2021-12-31 1,124 714 1,063 9
2020-12-31 1,006 607 1,101 11
2019-12-31 900 539 1,272 10
DB:AT1 Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2019-03-31 788 496 1,710
2018-12-31 747 473 1,620
2018-09-30 693 443 1,616
2018-06-30 638 423 1,504
2018-03-31 579 398 1,379
2017-12-31 527 362 1,283
2017-09-30 464 311 1,071
2017-06-30 401 243 1,006
2017-03-31 338 210 795
2016-12-31 274 179 728
2016-09-30 228 160 676
2016-06-30 189 114 649

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Aroundtown's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Aroundtown's revenue is expected to grow by 9.8% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:AT1 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 11 Analyst Estimates (S&P Global) See Below

All data from Aroundtown Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:AT1 Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-12-31 0.56 0.56 0.56 1.00
2021-12-31 0.90 1.37 0.53 9.00
2020-12-31 0.93 1.35 0.61 12.00
2019-12-31 1.11 1.46 0.87 10.00
DB:AT1 Past Financials Data
Date (Data in EUR Millions) EPS *
2019-03-31 1.56
2018-12-31 1.54
2018-09-30 1.61
2018-06-30 1.57
2018-03-31 1.54
2017-12-31 1.56
2017-09-30 1.41
2017-06-30 1.42
2017-03-31 1.18
2016-12-31 1.11
2016-09-30 1.07
2016-06-30 1.06

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Aroundtown is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Aroundtown's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Germany market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Germany market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Aroundtown has a total score of 1/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

AT1 Past Performance

  How has Aroundtown performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Aroundtown's growth in the last year to its industry (Real Estate).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Aroundtown has delivered over 20% year on year earnings growth in the past 5 years.
  • Aroundtown's 1-year earnings growth exceeds its 5-year average (24% vs 20.4%)
  • Aroundtown's earnings growth has exceeded the DE Real Estate industry average in the past year (24% vs 7.1%).
Earnings and Revenue History
Aroundtown's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Aroundtown Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:AT1 Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 788.30 1,709.50 23.90
2018-12-31 747.10 1,620.40 22.50
2018-09-30 693.20 1,615.70 18.90
2018-06-30 637.50 1,503.80 16.60
2018-03-31 579.20 1,378.70 15.70
2017-12-31 527.10 1,282.60 14.70
2017-09-30 464.30 1,071.00 13.50
2017-06-30 400.90 1,005.50 12.00
2017-03-31 337.83 794.72 10.25
2016-12-31 273.70 728.20 7.90
2016-09-30 227.56 675.53 5.99
2016-06-30 188.99 648.59 4.92
2016-03-31 155.13 593.82 4.48
2015-12-31 125.16 686.89 4.29
2015-09-30 154.48 1,175.28 5.59
2015-06-30 183.53 1,044.82 6.33
2015-03-31 211.86 918.02 7.14
2014-12-31 257.17 714.89 7.80
2013-12-31 181.00 141.00 5.00

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Aroundtown has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Aroundtown used its assets more efficiently than the DE Real Estate industry average last year based on Return on Assets.
  • Aroundtown has improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Aroundtown's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Real Estate industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Aroundtown has a total score of 5/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

AT1 Health

 How is Aroundtown's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Aroundtown's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Aroundtown is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Aroundtown's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Aroundtown's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is not covered by short term assets, assets are 0.3x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Aroundtown Company Filings, last reported 2 months ago.

DB:AT1 Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 10,393.30 8,571.70 2,116.40
2018-12-31 9,944.30 7,537.10 1,639.80
2018-09-30 9,202.60 7,450.20 1,389.40
2018-06-30 8,548.20 6,732.90 1,242.80
2018-03-31 8,464.90 6,141.70 1,395.30
2017-12-31 7,249.90 5,154.10 849.10
2017-09-30 6,471.20 4,458.50 501.80
2017-06-30 6,005.80 3,700.10 324.50
2017-03-31 4,290.80 4,053.13 864.17
2016-12-31 3,941.10 3,552.70 847.70
2016-09-30 3,372.66 2,887.73 273.95
2016-06-30 3,169.81 2,470.70 226.52
2016-03-31 2,634.18 1,785.81 187.86
2015-12-31 2,425.51 1,655.95 390.01
2015-09-30 2,264.66 1,233.03 306.43
2015-06-30 1,743.39 1,046.61 224.91
2015-03-31 1,514.16 554.67 188.43
2014-12-31 1,221.66 440.90 176.33
2013-12-31 872.00 788.00 195.00
  • Aroundtown's level of debt (82.5%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (73.1% vs 82.5% today).
  • Debt is not well covered by operating cash flow (5.8%, less than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 4.4x coverage).
X
Financial health checks
We assess Aroundtown's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Aroundtown has a total score of 2/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

AT1 Dividends

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

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
3.26%
Current annual income from Aroundtown dividends. Estimated to be 4.12% next year.
If you bought €2,000 of Aroundtown shares you are expected to receive €65 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Aroundtown's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.45%).
  • Aroundtown's dividend is below the markets top 25% of dividend payers in Germany (3.83%).
Upcoming dividend payment

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

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
DB:AT1 Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 11 Analyst Estimates (S&P Global) See Below
Germany Real Estate Industry Average Dividend Yield Market Cap Weighted Average of 25 Stocks 3%
Germany Market Average Dividend Yield Market Cap Weighted Average of 327 Stocks 3.1%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.5%
Germany Top 25% Dividend Yield 75th Percentile 3.8%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

DB:AT1 Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2022-12-31 0.37 2.00
2021-12-31 0.35 11.00
2020-12-31 0.32 15.00
2019-12-31 0.28 15.00
DB:AT1 Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2019-03-28 0.250 3.372
2018-03-28 0.234 3.226
2017-12-12 0.163 2.574

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Whilst dividend payments have been stable, Aroundtown has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but Aroundtown only paid a dividend in the past 2 years.
Current Payout to shareholders
What portion of Aroundtown's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (6.3x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.4x coverage).
X
Income/ dividend checks
We assess Aroundtown's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Aroundtown afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Aroundtown has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

AT1 Management

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

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Shmuel Mayo
COMPENSATION €0
AGE 57
CEO Bio

Mr. Shmuel Mayo serves as the Chief Executive Officer of Aroundtown Property Holdings Plc. Mr. Mayo has been the General Manager of Dankner Investment Ltd. since May 2000. He served as the Chief Executive Officer of the Dankner Group, which under his management was a leading international investment conglomerate with over $8 billion of assets. Previously, he served as Vice President of Dankner Investment Ltd. from 1998 to May 2000. He also served as General Manager of Yatzil Financing Ltd. He was employed at Partner Communications Company Ltd. and HOT Telecommunication Systems Ltd. He is a certified public accountant. Mr. Mayo holds a BA in Economics, Accounting and Law.

CEO Compensation
  • Insufficient data for Shmuel to compare compensation growth.
  • Shmuel's remuneration is lower than average for companies of similar size in Germany.
Management Team

Shmuel Mayo

TITLE
Chief Executive Officer
AGE
57

Eyal Ben David

TITLE
Chief Financial Officer
AGE
44

Andrew Wallis

TITLE
Deputy Chief Executive Officer
COMPENSATION
€517K
AGE
50
TENURE
1 yrs

Timothy Wright

TITLE
Head of IR & Senior Analyst

Christian Hupfer

TITLE
Chief Compliance Officer

Markus Neurauter

TITLE
Head of Commercial Operations
Board of Directors Tenure

Average tenure and age of the Aroundtown board of directors in years:

1.8
Average Tenure
52
Average Age
  • The average tenure for the Aroundtown board of directors is less than 3 years, this suggests a new board.
Board of Directors

Markus Leininger

TITLE
Independent Director
COMPENSATION
€60K
AGE
52
TENURE
2.3 yrs

Gerhard Cromme

TITLE
Chairman of the Advisory Board
AGE
75
TENURE
1 yrs

Yakir Gabay

TITLE
Deputy Chairman of Advisory Board
TENURE
1.4 yrs

Jelena Afxentiou

TITLE
Director
AGE
44
TENURE
5.1 yrs

Axel Froese

TITLE
Independent Director
COMPENSATION
€60K
AGE
56
TENURE
1.8 yrs

Oschrie Massatschi

TITLE
Director
AGE
37
TENURE
2.6 yrs

Frank Roseen

TITLE
Director
AGE
56
TENURE
1.8 yrs

Claudio Jarczyk

TITLE
Member of Advisory Board
TENURE
1.8 yrs

Markus Kreuter

TITLE
Independent Director
COMPENSATION
€60K
AGE
47
TENURE
1.8 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
X
Management checks
We assess Aroundtown's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Aroundtown has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

AT1 News

Simply Wall St News

Should We Be Delighted With Aroundtown SA's (FRA:AT1) ROE Of 20%?

This article is for those who would like to learn about Return On Equity (ROE). … That means that for every €1 worth of shareholders' equity, it generated €0.20 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

Should You Buy Aroundtown SA (FRA:AT1) For Its Dividend?

Aroundtown SA (FRA:AT1) has started paying a dividend to shareholders. … Does Aroundtown tick all the boxes of a great dividend stock? … When assessing a stock as a potential addition to my dividend Portfolio, I look at these five areas:

Simply Wall St -

With An ROE Of 19.64%, Has Aroundtown SA's (FRA:AT1) Management Done Well?

and want to learn about Return on Equity using a real-life example. … Sustainability can be gauged by a company’s financial leverage – the more debt it has, the higher ROE is pumped up in the short term, at the expense of long term interest payment burden. … Breaking down Return on Equity

Simply Wall St -

Who Are The Largest Shareholders In Aroundtown SA (FRA:AT1)?

In this article, I'm going to take a look at Aroundtown SA’s (FRA:AT1) latest ownership structure, a non-fundamental factor which is important, but remains a less discussed subject among investors. … Ownership structure of a company has been found to affect share performance over time. … The implications of these institutions’ actions can either benefit or hinder individual investors, so it is important to understand the ownership composition of your stock investment.

Simply Wall St -

Are Aroundtown SA's (FRA:AT1) Interest Costs Too High?

Mid-caps stocks, like Aroundtown SA (FRA:AT1) with a market capitalization of €7.48b, aren’t the focus of most investors who prefer to direct their investments towards either large-cap or small-cap stocks. … Despite this, commonly overlooked mid-caps have historically produced better risk-adjusted returns than their small and large-cap counterparts. … Note that this information is centred entirely on financial health and is a top-level understanding, so I encourage you to look further.

Simply Wall St -

Interested In Aroundtown SA (FRA:AT1)’s Upcoming €0.23 Dividend? You Have 2 Days Left

Important news for shareholders and potential investors in Aroundtown SA (FRA:AT1): The dividend payment of €0.23 per share will be distributed into shareholder on 02 July 2018, and the stock will begin trading ex-dividend at an earlier date, 28 June 2018. … Is this future income a persuasive enough catalyst for investors to think about Aroundtown as an investment today? … Below, I'm going to look at the latest data and analyze the stock and its dividend property in further detail.

Simply Wall St -

Is Aroundtown SA's (FRA:AT1) Balance Sheet Strong Enough To Weather A Storm?

Mid-caps stocks, like Aroundtown SA (FRA:AT1) with a market capitalization of €7.71b, aren’t the focus of most investors who prefer to direct their investments towards either large-cap or small-cap stocks. … While they are less talked about as an investment category, mid-cap risk-adjusted returns have generally been better than more commonly focused stocks that fall into the small- or large-cap categories. … This article will examine AT1’s financial liquidity and debt levels to get an idea of whether the company can deal with cyclical downturns and maintain funds to accommodate strategic spending for future growth.

Simply Wall St -

Who Are The Top Investors In Aroundtown SA (FRA:AT1)?

I am going to take a deep dive into Aroundtown SA’s (DB:AT1) most recent ownership structure, not a frequent subject of discussion among individual investors. … Therefore, it is beneficial for us to examine AT1's ownership structure in more detail. … Although AT1 has a high institutional ownership, such stock moves, in the short-term, are more commonly linked to a particular type of active institutional investors – hedge funds.

Simply Wall St -

Should You Invest In The Real Estate Sector And Aroundtown SA (FRA:AT1)?

In this article, I’ll take you through the real estate sector growth expectations, as well as evaluate whether Aroundtown is lagging or leading its competitors in the industry. … As a future industry laggard in growth, Aroundtown may be a cheaper stock relative to its peers. … The company is a real estate industry laggard in terms of its future growth outlook, and is trading relatively in-line with its peers.

Simply Wall St -

How Aroundtown SA (FRA:AT1) Delivered A Better ROE Than Its Industry

View our latest analysis for Aroundtown Breaking down ROE — the mother of all ratios Return on Equity (ROE) is a measure of Aroundtown’s profit relative to its shareholders’ equity. … ROE can be dissected into three distinct ratios: net profit margin, asset turnover, and financial leverage. … This is called the Dupont Formula: Dupont Formula ROE = profit margin × asset turnover × financial leverage ROE = (annual net profit ÷ sales) × (sales ÷ assets) × (assets ÷ shareholders’ equity) ROE = annual net profit ÷ shareholders’ equity DB:AT1 Last Perf Apr 24th 18 The first component is profit margin, which measures how much of sales is retained after the company pays for all its expenses.

Simply Wall St -

AT1 Company Info

Description

Aroundtown SA, together with its subsidiaries, operates as a real estate investment company in Germany, the Netherlands, the United Kingdom, and internationally. It invests in commercial and residential real estate properties, such as office, hotel, logistics, wholesale, retail, and other properties. The company was formerly known as Aroundtown Property Holdings PLC and changed its name to Aroundtown SA in September 2017. Aroundtown SA was founded in 2004 and is based in Luxembourg.

Details
Name: Aroundtown SA
AT1
Exchange: DB
Founded: 2004
€8,656,222,912
1,128,581,866
Website: http://www.aroundtown.de
Address: Aroundtown SA
1, Avenue du Bois,
Luxembourg City,
1251,
Luxembourg
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
DB AT1 Ordinary Shares Deutsche Boerse AG DE EUR 14. Sep 2017
XTRA AT1 Ordinary Shares XETRA Trading Platform DE EUR 14. Sep 2017
LSE 0RUH Ordinary Shares London Stock Exchange GB EUR 14. Sep 2017
SWX ARTW Ordinary Shares SIX Swiss Exchange CH CHF 14. Sep 2017
WBAG TOWN Ordinary Shares Wiener Boerse AG AT EUR 14. Sep 2017
BATS-CHIXE AT1D Ordinary Shares BATS 'Chi-X Europe' GB EUR 14. Sep 2017
Number of employees
Current staff
Staff numbers
374
Aroundtown employees.
Industry
Real Estate Operating Companies
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/06/23 22:18
End of day share price update: 2019/06/21 00:00
Last estimates confirmation: 2019/06/05
Last earnings filing: 2019/05/29
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.