Declared Dividend • May 21
Dividend of €21.16 announced Dividend of €21.16 is the same as last year. Ex-date: 18th June 2026 Payment date: 18th June 2026 Dividend yield will be 3.9%, which is lower than the industry average of 4.5%. Sustainability & Growth Dividend is covered by earnings (69% earnings payout ratio) but not adequately covered by cash flows (96% 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. Earnings per share has grown by 1.8% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • May 08
Gelsenwasser AG announces Annual dividend, payable on June 18, 2026 Gelsenwasser AG announced Annual dividend of EUR 21.1600 per share payable on June 18, 2026, ex-date on June 18, 2026 Announcement • Apr 30
Gelsenwasser AG, Annual General Meeting, Jun 17, 2026 Gelsenwasser AG, Annual General Meeting, Jun 17, 2026, at 12:00 W. Europe Standard Time. Announcement • Jul 07
MET Holding AG acquired Kge - Kommunale Gasspeichergesellschaft Epe Mbh & Co. Kg from Ewmr Energie- Und Wasserversorgung Mittleres Ruhrgebiet GmbH, Dortmunder Energie- Und Wasserversorgung Gesellschaft Mit Beschränkter Haftung, Stadtwerke Essen AG, Gelsenwasser AG (DB:WWG) and Met Germany Holding GmbH. MET Holding AG acquired Kge - Kommunale Gasspeichergesellschaft Epe Mbh & Co. Kg from Ewmr Energie- Und Wasserversorgung Mittleres Ruhrgebiet GmbH, Dortmunder Energie- Und Wasserversorgung Gesellschaft Mit Beschränkter Haftung, Stadtwerke Essen AG, Gelsenwasser AG (DB:WWG) and Met Germany Holding GmbH on July 7, 2025.
MET Holding AG completed the acquisition of Kge - Kommunale Gasspeichergesellschaft Epe Mbh & Co. Kg from Ewmr Energie- Und Wasserversorgung Mittleres Ruhrgebiet GmbH, Dortmunder Energie- Und Wasserversorgung Gesellschaft Mit Beschränkter Haftung, Stadtwerke Essen AG, Gelsenwasser AG (DB:WWG) and Met Germany Holding GmbH on July 7, 2025. Announcement • Apr 17
Gelsenwasser AG, Annual General Meeting, Jun 04, 2025 Gelsenwasser AG, Annual General Meeting, Jun 04, 2025, at 12:00 W. Europe Standard Time. Announcement • Mar 05
Gelsenwasser AG to Report Fiscal Year 2024 Results on Mar 31, 2025 Gelsenwasser AG announced that they will report fiscal year 2024 results on Mar 31, 2025 Reported Earnings • Mar 30
Full year 2023 earnings released: EPS: €38.62 (vs €23.86 in FY 2022) Full year 2023 results: EPS: €38.62 (up from €23.86 in FY 2022). Revenue: €8.32b (down 38% from FY 2022). Net income: €132.8m (up 62% from FY 2022). Profit margin: 1.6% (up from 0.6% in FY 2022). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has fallen by 23% per year, which means it is significantly lagging earnings. Buy Or Sell Opportunity • Mar 21
Now 21% overvalued Over the last 90 days, the stock has fallen 9.2% to €695. The fair value is estimated to be €575, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 64% over the last 3 years, while earnings per share has been flat. Buy Or Sell Opportunity • Mar 05
Now 21% overvalued Over the last 90 days, the stock has fallen 2.1% to €695. The fair value is estimated to be €575, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 64% over the last 3 years, while earnings per share has been flat. New Risk • Mar 01
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 1.1% per year over the past 5 years. Minor Risks Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). Dividend is not well covered by cash flows (181% cash payout ratio). Buy Or Sell Opportunity • Feb 13
Now 22% overvalued Over the last 90 days, the stock has fallen 15% to €700. The fair value is estimated to be €575, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 64% over the last 3 years, while earnings per share has been flat. Reported Earnings • Aug 20
First half 2023 earnings released: EPS: €23.93 (vs €17.45 in 1H 2022) First half 2023 results: EPS: €23.93 (up from €17.45 in 1H 2022). Revenue: €2.39b (down 60% from 1H 2022). Net income: €82.3m (up 37% from 1H 2022). Profit margin: 3.4% (up from 1.0% in 1H 2022). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has fallen by 19% per year, which means it is performing significantly worse than earnings. New Risk • Aug 17
New major risk - Revenue and earnings growth Earnings have declined by 1.1% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 1.1% per year over the past 5 years. Minor Risks Dividend is not well covered by cash flows (97% cash payout ratio). Share price has been volatile over the past 3 months (7.2% average weekly change). New Risk • Jul 28
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 6.7% 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: Minor Risks Share price has been volatile over the past 3 months (6.7% average weekly change). Profit margins are more than 30% lower than last year (0.6% net profit margin). Upcoming Dividend • Jun 08
Upcoming dividend of €21.16 per share at 2.1% yield Eligible shareholders must have bought the stock before 15 June 2023. Payment date: 15 June 2023. Trailing yield: 2.1%. Lower than top quartile of German dividend payers (4.6%). Lower than average of industry peers (5.7%). Valuation Update With 7 Day Price Move • Oct 13
Investor sentiment improved over the past week After last week's 16% share price gain to €1,070, the stock trades at a trailing P/E ratio of 30.1x. Average trailing P/E is 10x in the Integrated Utilities industry in Europe. Total returns to shareholders of 26% over the past three years. Announcement • Oct 11
Accolade Holding, a.s. agreed to acquire Gelsenwasser Beteiligungen SE. Accolade Holding, a.s. agreed to acquire Gelsenwasser Beteiligungen SE on October 10, 2022. A team led by Marcel Hagemann and Katharina Mareike Franitza of CMS Cameron McKenna Nabarro acted as legal advisor to Gelsenwasser AG. Valuation Update With 7 Day Price Move • Sep 23
Investor sentiment deteriorated over the past week After last week's 18% share price decline to €1,080, the stock trades at a trailing P/E ratio of 30.4x. Average trailing P/E is 11x in the Integrated Utilities industry in Europe. Total returns to shareholders of 25% over the past three years. Valuation Update With 7 Day Price Move • Sep 23
Investor sentiment deteriorated over the past week After last week's 18% share price decline to €1,080, the stock trades at a trailing P/E ratio of 30.4x. Average trailing P/E is 11x in the Integrated Utilities industry in Europe. Total returns to shareholders of 25% over the past three years. Reported Earnings • Aug 15
First half 2022 earnings released: EPS: €17.45 (vs €15.15 in 1H 2021) First half 2022 results: EPS: €17.45 (up from €15.15 in 1H 2021). Revenue: €13.4b (up €11.8b from 1H 2021). Net income: €60.0m (up 15% from 1H 2021). Profit margin: 0.4% (down from 3.2% in 1H 2021). Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has increased by 17% per year, which means it is well ahead of earnings. Upcoming Dividend • Jun 09
Upcoming dividend of €21.16 per share Eligible shareholders must have bought the stock before 16 June 2022. Payment date: 17 June 2022. Payout ratio is a comfortable 64% but the company is paying out more than the cash it is generating. Trailing yield: 1.5%. Lower than top quartile of German dividend payers (4.2%). Lower than average of industry peers (4.8%). Reported Earnings • Apr 02
Full year 2021 earnings released: EPS: €33.25 (vs €27.52 in FY 2020) Full year 2021 results: EPS: €33.25 (up from €27.52 in FY 2020). Revenue: €14.7b (up €13.0b from FY 2020). Net income: €114.3m (up 21% from FY 2020). Profit margin: 0.8% (down from 5.5% in FY 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has increased by 20% per year, which means it is well ahead of earnings. Reported Earnings • Aug 18
First half 2021 earnings released: EPS €15.15 (vs €18.41 in 1H 2020) The company reported a decent first half result with improved revenues, although earnings and profit margins were weaker. First half 2021 results: Revenue: €1.64b (up 112% from 1H 2020). Net income: €52.1m (down 18% from 1H 2020). Profit margin: 3.2% (down from 8.2% in 1H 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has increased by 19% per year, which means it is well ahead of earnings. Upcoming Dividend • Jun 03
Upcoming dividend of €21.16 per share Eligible shareholders must have bought the stock before 10 June 2021. Payment date: 10 June 2021. Trailing yield: 1.4%. Lower than top quartile of German dividend payers (3.2%). Lower than average of industry peers (3.6%). Is New 90 Day High Low • Nov 05
New 90-day low: €1,570 The company is down 5.0% from its price of €1,650 on 07 August 2020. The German market is down 1.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Integrated Utilities industry, which is down 1.0% over the same period. Announcement • Aug 15
Gelsenwasser AG to Report Q3, 2020 Results on Nov 13, 2020 Gelsenwasser AG announced that they will report Q3, 2020 results on Nov 13, 2020