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Citycon Oyj

HLSE:CTY1S
Snowflake Description

Reasonable growth potential second-rate dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
CTY1S
HLSE
€2B
Market Cap
  1. Home
  2. FI
  3. Real Estate
Company description

Citycon Oyj, a real estate investment company, owns, develops, and manages urban grocery-anchored shopping centers in Finland, Norway, Sweden, Estonia, and Denmark. The last earnings update was 70 days ago. More info.


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CTY1S Share Price and Events
7 Day Returns
-0.6%
HLSE:CTY1S
0.4%
FI Real Estate
0.9%
FI Market
1 Year Returns
-0.2%
HLSE:CTY1S
26.3%
FI Real Estate
-3.1%
FI Market
CTY1S Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Citycon Oyj (CTY1S) -0.6% -0.2% -0.5% -0.2% -9.7% -31.7%
FI Real Estate 0.4% 5.5% 16.6% 26.3% 27.2% 53.9%
FI Market 0.9% 1% -2% -3.1% 28.5% 27.4%
1 Year Return vs Industry and Market
  • CTY1S underperformed the Real Estate industry which returned 26.3% over the past year.
  • CTY1S outperformed the Market in Finland which returned -3.1% over the past year.
Price Volatility
CTY1S
Industry
5yr Volatility vs Market

CTY1S Value

 Is Citycon Oyj 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 Citycon Oyj 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 Citycon Oyj.

HLSE:CTY1S Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 9 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 12.1%
Perpetual Growth Rate 10-Year FI Government Bond Rate 0.5%

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 HLSE:CTY1S
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year FI Govt Bond Rate 0.5%
Equity Risk Premium S&P Global 6.5%
Real Estate Unlevered Beta Simply Wall St/ S&P Global 1.03
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.031 (1 + (1- 20%) (136.06%))
1.773
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.77
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.54% + (1.773 * 6.51%)
12.08%

Discounted Cash Flow Calculation for HLSE:CTY1S using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Citycon Oyj 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.

HLSE:CTY1S DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (EUR, Millions) Source Present Value
Discounted (@ 12.08%)
2019 92.10 Analyst x4 82.17
2020 92.20 Analyst x4 73.39
2021 118.93 Analyst x4 84.46
2022 141.00 Analyst x1 89.34
2023 143.00 Analyst x1 80.84
2024 144.64 Est @ 1.15% 72.95
2025 146.04 Est @ 0.97% 65.72
2026 147.26 Est @ 0.84% 59.12
2027 148.37 Est @ 0.75% 53.15
2028 149.38 Est @ 0.69% 47.74
Present value of next 10 years cash flows €708.89
HLSE:CTY1S DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= €149.38 × (1 + 0.54%) ÷ (12.08% – 0.54%)
€1,301.11
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= €1,301.11 ÷ (1 + 12.08%)10
€415.82
HLSE:CTY1S Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= €708.89 + €415.82
€1,124.71
Equity Value per Share
(EUR)
= Total value / Shares Outstanding
= €1,124.71 / 178.00
€6.32
HLSE:CTY1S Discount to Share Price
Calculation Result
Value per share (EUR) From above. €6.32
Current discount Discount to share price of €9.15
= -1 x (€9.15 - €6.32) / €6.32
-44.8%

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

  • The current share price of Citycon Oyj 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 Citycon Oyj's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Citycon Oyj's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
HLSE:CTY1S PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in EUR €0.05
HLSE:CTY1S Share Price ** HLSE (2019-06-25) in EUR €9.15
Europe Real Estate Industry PE Ratio Median Figure of 218 Publicly-Listed Real Estate Companies 11.18x
Finland Market PE Ratio Median Figure of 107 Publicly-Listed Companies 20.45x

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

** Primary Listing of Citycon Oyj.

HLSE:CTY1S PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= HLSE:CTY1S Share Price ÷ EPS (both in EUR)

= 9.15 ÷ 0.05

171.44x

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

  • Citycon Oyj is overvalued based on earnings compared to the Europe Real Estate industry average.
  • Citycon Oyj is overvalued based on earnings compared to the Finland market.
Price based on expected Growth
Does Citycon Oyj's expected growth come at a high price?
Raw Data
HLSE:CTY1S PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 171.44x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 9 Analysts
20.6%per year
Europe Real Estate Industry PEG Ratio Median Figure of 93 Publicly-Listed Real Estate Companies -0.15x
Finland Market PEG Ratio Median Figure of 92 Publicly-Listed Companies 1.72x

*Line of best fit is calculated by linear regression .

HLSE:CTY1S PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 171.44x ÷ 20.6%

8.32x

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

  • Citycon Oyj is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Citycon Oyj's assets?
Raw Data
HLSE:CTY1S PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in EUR €11.73
HLSE:CTY1S Share Price * HLSE (2019-06-25) in EUR €9.15
Finland Real Estate Industry PB Ratio Median Figure of 5 Publicly-Listed Real Estate Companies 1.12x
Finland Market PB Ratio Median Figure of 142 Publicly-Listed Companies 1.98x
HLSE:CTY1S PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= HLSE:CTY1S Share Price ÷ Book Value per Share (both in EUR)

= 9.15 ÷ 11.73

0.78x

* Primary Listing of Citycon Oyj.

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

  • Citycon Oyj is good value based on assets compared to the FI Real Estate industry average.
X
Value checks
We assess Citycon Oyj'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. Citycon Oyj has a total score of 1/6, 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.

CTY1S Future Performance

 How is Citycon Oyj expected to perform in the next 1 to 3 years based on estimates from 9 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
20.6%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Citycon Oyj expected to grow at an attractive rate?
  • Citycon Oyj's earnings growth is expected to exceed the low risk savings rate of 0.5%.
Growth vs Market Checks
  • Citycon Oyj's earnings growth is expected to exceed the Finland market average.
  • Citycon Oyj's revenue growth is expected to exceed the Finland market average.
Annual Growth Rates Comparison
Raw Data
HLSE:CTY1S Future Growth Rates Data Sources
Data Point Source Value (per year)
HLSE:CTY1S Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 9 Analysts 20.6%
HLSE:CTY1S Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 9 Analysts 3%
Finland Real Estate Industry Earnings Growth Rate Market Cap Weighted Average 4%
Finland Real Estate Industry Revenue Growth Rate Market Cap Weighted Average 5.4%
Finland Market Earnings Growth Rate Market Cap Weighted Average 13.5%
Finland Market Revenue Growth Rate Market Cap Weighted Average 2.1%

*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
HLSE:CTY1S Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 9 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
HLSE:CTY1S Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 203
2022-12-31 348 201 143 2
2021-12-31 333 159 144 5
2020-12-31 323 152 125 5
2019-12-31 318 141 108 4
HLSE:CTY1S Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2019-03-31 304 94 10
2018-12-31 304 96 17
2018-09-30 315 95 34
2018-06-30 322 144 48
2018-03-31 329 148 79
2017-12-31 338 149 87
2017-09-30 348 156 98
2017-06-30 347 145 125
2017-03-31 346 131 132
2016-12-31 347 136 160
2016-09-30 347 101 151
2016-06-30 357 137 141

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Citycon Oyj's earnings are expected to grow significantly at over 20% yearly.
  • Citycon Oyj's revenue is expected to grow by 3% 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
HLSE:CTY1S 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 9 Analyst Estimates (S&P Global) See Below

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

HLSE:CTY1S Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31
2022-12-31 0.80 0.82 0.78 2.00
2021-12-31 0.81 1.11 0.60 7.00
2020-12-31 0.70 0.86 0.55 8.00
2019-12-31 0.59 0.84 0.46 7.00
HLSE:CTY1S Past Financials Data
Date (Data in EUR Millions) EPS *
2019-03-31 0.05
2018-12-31 0.09
2018-09-30 0.19
2018-06-30 0.27
2018-03-31 0.44
2017-12-31 0.49
2017-09-30 0.55
2017-06-30 0.70
2017-03-31 0.74
2016-12-31 0.90
2016-09-30 0.85
2016-06-30 0.80

*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.
  • Citycon Oyj is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Citycon Oyj'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 Finland market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Finland 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.
Citycon Oyj has a total score of 4/6, 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.

CTY1S Past Performance

  How has Citycon Oyj 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 Citycon Oyj'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.
  • Citycon Oyj's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
  • Citycon Oyj's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Citycon Oyj's 1-year earnings growth is negative, it can't be compared to the Europe Real Estate industry average.
Earnings and Revenue History
Citycon Oyj'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 Citycon Oyj Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

HLSE:CTY1S Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 304.10 9.50 36.80
2018-12-31 303.70 16.60 36.50
2018-09-30 315.40 34.30 25.20
2018-06-30 321.50 48.10 26.90
2018-03-31 328.50 78.90 39.80
2017-12-31 337.50 87.40 40.40
2017-09-30 348.00 98.40 26.90
2017-06-30 347.10 124.50 26.80
2017-03-31 345.80 131.60 27.20
2016-12-31 346.50 160.40 27.90
2016-09-30 347.10 150.90 24.90
2016-06-30 356.90 141.30 30.70
2016-03-31 338.80 139.10 29.10
2015-12-31 315.00 108.80 27.10
2015-09-30 285.40 107.40 32.00
2015-06-30 258.40 105.70 24.50
2015-03-31 257.50 82.90 25.20
2014-12-31 260.20 84.50 26.00
2014-09-30 256.50 104.00 25.50
2014-06-30 254.10 113.80 25.80
2014-03-31 252.60 97.40 25.80
2013-12-31 250.30 94.90 26.10
2013-09-30 250.20 72.50 27.00
2013-06-30 248.80 72.60 27.90
2013-03-31 245.60 87.50 29.50
2012-12-31 239.40 77.20 30.60
2012-09-30 233.40 51.50 25.90
2012-06-30 227.50 20.50 27.30

*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.
  • Citycon Oyj has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Citycon Oyj used its assets less efficiently than the Europe Real Estate industry average last year based on Return on Assets.
  • Citycon Oyj's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Citycon Oyj'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.
Citycon Oyj has a total score of 0/6, 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.

CTY1S Health

 How is Citycon Oyj'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 Citycon Oyj's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Citycon Oyj's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Citycon Oyj's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Citycon Oyj'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.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.1x 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 Citycon Oyj Company Filings, last reported 2 months ago.

HLSE:CTY1S Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 2,088.60 2,216.00 10.70
2018-12-31 2,089.00 2,140.00 11.40
2018-09-30 2,152.50 2,156.20 9.40
2018-06-30 2,180.60 2,071.50 17.40
2018-03-31 2,203.70 2,074.90 10.70
2017-12-31 2,209.30 2,083.90 10.10
2017-09-30 2,254.50 2,202.80 9.20
2017-06-30 2,265.00 2,185.50 13.30
2017-03-31 2,304.00 2,229.80 11.10
2016-12-31 2,312.20 2,177.10 15.90
2016-09-30 2,316.20 2,144.90 23.80
2016-06-30 2,290.00 2,050.30 24.60
2016-03-31 2,280.90 2,031.80 24.30
2015-12-31 2,245.50 2,029.80 27.90
2015-09-30 2,251.50 2,028.40 44.40
2015-06-30 1,630.80 1,283.80 13.60
2015-03-31 1,592.60 1,249.60 17.30
2014-12-31 1,652.50 1,182.70 34.40
2014-09-30 1,692.20 1,212.10 116.10
2014-06-30 1,533.80 1,324.40 138.90
2014-03-31 1,309.80 1,513.30 17.00
2013-12-31 1,278.80 1,491.10 38.00
2013-09-30 1,309.60 1,519.10 25.00
2013-06-30 1,272.80 1,577.40 77.10
2013-03-31 1,246.30 1,646.20 165.80
2012-12-31 1,059.90 1,608.30 51.00
2012-09-30 964.70 1,676.10 33.30
2012-06-30 951.50 1,653.10 69.50
  • Citycon Oyj's level of debt (106.1%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (115.2% vs 106.1% today).
  • Debt is not well covered by operating cash flow (4.2%, less than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 4.1x coverage).
X
Financial health checks
We assess Citycon Oyj'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. Citycon Oyj 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.

CTY1S Dividends

 What is Citycon Oyj'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
7.1%
Current annual income from Citycon Oyj dividends. Estimated to be 7.1% next year.
If you bought €2,000 of Citycon Oyj shares you are expected to receive €142 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?
  • Citycon Oyj's pays a higher dividend yield than the bottom 25% of dividend payers in Finland (2.32%).
  • Citycon Oyj's dividend is above the markets top 25% of dividend payers in Finland (5.25%).
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
HLSE:CTY1S 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 9 Analyst Estimates (S&P Global) See Below
Europe Real Estate Industry Average Dividend Yield Market Cap Weighted Average of 147 Stocks 3.2%
Finland Market Average Dividend Yield Market Cap Weighted Average of 100 Stocks 4.4%
Finland Minimum Threshold Dividend Yield 10th Percentile 1.4%
Finland Bottom 25% Dividend Yield 25th Percentile 2.3%
Finland Top 25% Dividend Yield 75th Percentile 5.2%

Industry and Market average data is calculated daily.

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

HLSE:CTY1S Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2023-12-31
2022-12-31 0.65 2.00
2021-12-31 0.65 7.00
2020-12-31 0.65 8.00
2019-12-31 0.65 8.00
HLSE:CTY1S Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2019-06-18 0.650 7.078
2019-03-13 0.650 7.137
2018-12-12 0.650 7.545
2018-09-18 0.650 7.468
2018-06-19 0.650 7.139
2018-02-08 0.650 6.917
2017-10-19 0.650 6.071
2017-09-20 0.650 5.867
2017-06-20 0.650 5.686
2017-03-22 0.650 5.726
2016-12-20 0.750 6.558
2016-07-14 0.750 6.776
2016-04-28 0.750 6.985
2016-03-16 0.188 1.695
2015-02-11 0.750 6.118
2014-03-20 0.750 5.614
2013-03-22 0.750 6.005
2012-02-08 0.750 6.175
2011-02-09 0.700 5.096
2010-02-10 0.700 4.940
2009-02-12 0.700 6.546

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

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have fallen over the past 10 years.
Current Payout to shareholders
What portion of Citycon Oyj's earnings are paid to the shareholders as a dividend.
  • Dividends paid are not well covered by earnings (0.1x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.2x coverage).
X
Income/ dividend checks
We assess Citycon Oyj's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.4%) - 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 Citycon Oyj afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Citycon Oyj 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.

CTY1S Management

 What is the CEO of Citycon Oyj'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
F. Ball
AGE 57
TENURE AS CEO 0.4 years
CEO Bio

Mr. F. Scott Ball serves as Chief Executive Officer at Citycon Oyj since January 1, 2019. Mr. Ball served as President and Chief Operating Officer of Starwood Retail Partners, LLC until 2017. Mr. Ball had also been Chief Operating Officer at Starwood Retail Properties LLC from September 2012 to 2017. Mr. Ball served as the Chief Executive Officer of Blatteis & Schnur. He has more than 25 years of mall management and development experience in the commercial real estate industry, he has built a stellar reputation guiding the growth of retail portfolios of all sizes while managing a wide range of activities. He served as Senior Vice President of Retail at Oxford Properties Group where he led the team responsible for the oversight of Oxford's 9.5 million square foot Canadian retail portfolio. His responsibilities included all asset management, operations and leasing activities. He served as Senior Vice President of Real Estate and Global Construction/Design at Claire's Stores Inc. Mr. Ball served as Executive Vice President of Asset Management at Mills Corp. and The Mills Limited Partnership since June 2006 and served as Head of Asset Management Division since January 2006. Mr. Ball served as Senior Vice President of Leasing at The Rouse Company. Mr. Ball joined Mills in March 2005 and spent more than 20 years at Rouse Company. He is an active Member of the International Council of Shopping Centers (ICSC) and Urban Land Institute (ULI). Mr. Ball holds a Bachelor of Science degree in Business Administration from LaSalle University.

CEO Compensation
  • Insufficient data for F. to compare compensation growth.
  • Insufficient data for F. to establish whether their remuneration is reasonable compared to companies of similar size in Finland.
Management Team Tenure

Average tenure and age of the Citycon Oyj management team in years:

0.4
Average Tenure
57
Average Age
  • The average tenure for the Citycon Oyj management team is less than 2 years, this suggests a new team.
Management Team

F. Ball

TITLE
Chief Executive Officer
AGE
57
TENURE
0.4 yrs

Eero Sihvonen

TITLE
Executive VP & CFO
AGE
61
TENURE
13.5 yrs

Henrica Ginström

TITLE
Chief Operating Officer
AGE
35
TENURE
0.4 yrs

Mikko Pohjala

TITLE
Director of IR & Communications
Board of Directors Tenure

Average tenure and age of the Citycon Oyj board of directors in years:

5
Average Tenure
62
Average Age
  • The tenure for the Citycon Oyj board of directors is about average.
Board of Directors

Chaim Katzman

TITLE
Chairman of the Board
AGE
69
TENURE
9 yrs

Bernd Knobloch

TITLE
Deputy Chairman of the Board
AGE
67
TENURE
6.3 yrs

Ariella Zochovitzky

TITLE
Director
AGE
61
TENURE
10.3 yrs

David Lukes

TITLE
Director
AGE
48
TENURE
2.3 yrs

Per-Anders Ovin

TITLE
Director
AGE
62
TENURE
6.3 yrs

Andrea Orlandi

TITLE
Director
AGE
47
TENURE
5 yrs

Arnold de Haan

TITLE
Director
AGE
64
TENURE
5 yrs

Ofer Stark

TITLE
Director
AGE
46
TENURE
1.3 yrs

Sandy Koifman

TITLE
Director
AGE
65
TENURE
0.3 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
X
Management checks
We assess Citycon Oyj'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. Citycon Oyj 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.

CTY1S News

Simply Wall St News

Did You Manage To Avoid Citycon Oyj's (HEL:CTY1S) 31% Share Price Drop?

One imperfect but simple way to consider how the market perception of a company has shifted is to compare the change in the earnings per share (EPS) with the share price movement. … Looking back five years, both Citycon Oyj's share price and EPS declined; the latter at a rate of 45% per year. … The high P/E ratio of 173.50 suggests that shareholders believe earnings will grow in the years ahead.

Simply Wall St -

Do Institutions Own Citycon Oyj (HEL:CTY1S) Shares?

If you want to know who really controls Citycon Oyj (HEL:CTY1S), then you'll have to look at the makeup of its share registry. … Insiders often own a large chunk of younger, smaller, companies while huge companies tend to have institutions as shareholders. … Companies that have been privatized tend to have low insider ownership.

Simply Wall St -

A Look At The Fair Value Of Citycon Oyj (HEL:CTY1S)

How far off is Citycon Oyj (HEL:CTY1S) from its intrinsic value? … by projecting its future cash flows and then discounting them to today's value. … Anyone interested in learning a bit more about intrinsic value should have a read of the Simply Wall St analysis model.

Simply Wall St -

Is Citycon Oyj's (HEL:CTY1S) Balance Sheet Strong Enough To Weather A Storm?

However, an important fact which most ignore is: how financially healthy is the business? … So, understanding the company's financial health becomes. … Here are few basic financial health checks you should consider before taking the plunge.

Simply Wall St -

Is There Now An Opportunity In Citycon Oyj (HEL:CTY1S)?

Some share price movements can give investors a better opportunity to enter into the stock, and potentially buy at a lower price? … A question to answer is whether Citycon Oyj's current trading price of €1.7 reflective of the actual value of the? … Let’s take a look at Citycon Oyj’s outlook and value based on the most recent financial data to see if there are any catalysts for a price change

Simply Wall St -

Does The Citycon Oyj (HEL:CTY1S) Share Price Fall With The Market?

Volatility is considered to be a measure of risk in modern finance theory. … Some investors use beta as a measure of how much a certain stock is impacted by market risk (volatility). … Any stock with a beta of greater than one is considered more volatile than the market, while those with a beta below one are either less volatile or poorly correlated with the market.

Simply Wall St -

What Does Citycon Oyj's (HEL:CTY1S) P/E Ratio Tell You?

We'll show how you can use Citycon Oyj's (HEL:CTY1S) P/E ratio to inform your assessment of the investment opportunity. … Based on the last twelve months, Citycon Oyj's P/E ratio is 45.46. … Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS)

Simply Wall St -

A Look At The Intrinsic Value Of Citycon Oyj (HEL:CTY1S)

I am going to run you through how I calculated the intrinsic value of Citycon Oyj (HEL:CTY1S). … by projecting its future cash flows and then discounting them to today's value. … Anyone interested in learning a bit more about intrinsic value should have a read of the Simply Wall St analysis model

Simply Wall St -

Is Citycon Oyj's (HEL:CTY1S) Balance Sheet A Threat To Its Future?

However, an important fact which most ignore is: how financially healthy is the business? … Evaluating financial health as part of your investment thesis is. … Here are a few basic checks that are good enough to have a broad overview of the company’s financial strength.

Simply Wall St -

Why Citycon Oyj's (HEL:CTY1S) ROE Of 2.21% Does Not Tell The Whole Story

and want to start learning about core concepts of fundamental analysis on practical examples from today's market. … Citycon Oyj’s (HEL:CTY1S) most recent return on equity was a substandard 2.21% relative to its industry performance of 10.32% over the past year. … Check out our latest analysis for Citycon Oyj

Simply Wall St -

CTY1S Company Info

Description

Citycon Oyj, a real estate investment company, owns, develops, and manages urban grocery-anchored shopping centers in Finland, Norway, Sweden, Estonia, and Denmark. The company owns 12 shopping centers in Finland; 15 shopping centers in Norway; 9 shopping centers in Sweden; 2 shopping centers in Estonia; and 2 shopping centers in Denmark. It also leases and manages 12 shopping centers in Norway on behalf of other owners; and owns 1 other retail properties. Citycon Oyj was founded in 1988 and is based in Espoo, Finland.

Details
Name: Citycon Oyj
CTY1S
Exchange: HLSE
Founded: 1988
€1,628,686,503
177,998,525
Website: http://www.citycon.com
Address: Citycon Oyj
Iso Omena,
Suomenlahdentie 1,
Espoo,
Uusimaa, 02230,
Finland
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
HLSE CTY1S Ordinary Shares OMX Nordic Exchange Helsinki FI EUR 15. Nov 1989
DB TY2B Ordinary Shares Deutsche Boerse AG DE EUR 15. Nov 1989
LSE 0A0F Ordinary Shares London Stock Exchange GB EUR 15. Nov 1989
Number of employees
Current staff
Staff numbers
253
Citycon Oyj employees.
Industry
Real Estate Operating Companies
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/06/26 02:35
End of day share price update: 2019/06/25 00:00
Last estimates confirmation: 2019/06/03
Last earnings filing: 2019/04/17
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.