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GIMV

BST:GI3
Snowflake Description

Undervalued established dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
GI3
BST
€1B
Market Cap
  1. Home
  2. DE
  3. Diversified Financials
Company description

GIMV NV is a private equity and venture capital firm specializing in direct and fund of funds investments. The last earnings update was 130 days ago. More info.


Add to Portfolio Compare Print
  • GIMV is a fund or ETF! Currently our data availability for these is poor, we only recommend using them as part of a portfolio.
  • GIMV has significant price volatility in the past 3 months.
GI3 Share Price and Events
7 Day Returns
3.2%
BST:GI3
12.4%
DE Capital Markets
7.3%
DE Market
1 Year Returns
-6.8%
BST:GI3
-8.8%
DE Capital Markets
-17.7%
DE Market
GI3 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
GIMV (GI3) 3.2% -10.9% -14.7% -6.8% -10.2% 11.6%
DE Capital Markets 12.4% -22.2% -16.8% -8.8% -29.1% -56.4%
DE Market 7.3% -17.9% -25.8% -17.7% -25.6% -29%
1 Year Return vs Industry and Market
  • GI3 outperformed the Capital Markets industry which returned -8.8% over the past year.
  • GI3 outperformed the Market in Germany which returned -17.7% over the past year.
Price Volatility
GI3
Industry
5yr Volatility vs Market

GI3 Value

 Is GIMV 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 GIMV 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 GIMV.

BST:GI3 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Median Return on Equity from the past 5 years.
= Stable Book Value * Return on Equity
= €49.98 * 9%
€4.52
Book Value of Equity per Share Median Book Value from the past 5 years. €49.98
Discount Rate (Cost of Equity) See below 5.3%
Perpetual Growth Rate 10-Year DE Government Bond Rate -0.4%

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 BST:GI3
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate -0.4%
Equity Risk Premium S&P Global 6.2%
Capital Markets Unlevered Beta Simply Wall St/ S&P Global 0.75
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.751 (1 + (1- 29%) (21.31%))
0.91
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.91
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= -0.39% + (0.91 * 6.21%)
5.26%

Discounted Cash Flow Calculation for BST:GI3 using Excess Returns Model Model

The calculations below outline how an intrinsic value for GIMV is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

BST:GI3 Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (9% – 5.26%) * €49.98)
€1.89
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= €1.89 / (5.26% - -0.39%)
€33.44
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= €49.98 + €33.44
€83.42
BST:GI3 Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in BST:GI3 represents 0.9936x of ENXTBR:GIMB
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.9936x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (EUR) x Listing Adjustment Factor
= € 83.42 x 0.9936
€82.89
Value per share (EUR) From above. €82.89
Current discount Discount to share price of €46.60
= -1 x (€46.60 - €82.89) / €82.89
43.8%

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

Current Discount
Amount off the current price GIMV is available for.
Intrinsic value
44%
Share price is €46.6 vs Future cash flow value of €82.89
Current Discount Checks
For GIMV to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • GIMV's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • GIMV's share price is below the future cash flow value, and at a substantial discount (> 40%).
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 GIMV's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are GIMV's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
BST:GI3 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-09-30) in EUR €3.97
ENXTBR:GIMB Share Price ** ENXTBR (2020-03-30) in EUR €46.9
Germany Capital Markets Industry PE Ratio Median Figure of 17 Publicly-Listed Capital Markets Companies 21.49x
Germany Market PE Ratio Median Figure of 400 Publicly-Listed Companies 16.36x

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

** Primary Listing of GIMV.

BST:GI3 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= ENXTBR:GIMB Share Price ÷ EPS (both in EUR)

= 46.9 ÷ 3.97

11.8x

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

  • GIMV is good value based on earnings compared to the DE Capital Markets industry average.
  • GIMV is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does GIMV's expected growth come at a high price?
Raw Data
BST:GI3 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 11.8x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
Not available
Germany Capital Markets Industry PEG Ratio Median Figure of 7 Publicly-Listed Capital Markets Companies 1.63x
Germany Market PEG Ratio Median Figure of 254 Publicly-Listed Companies 1.2x

*Line of best fit is calculated by linear regression .

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

  • Unable to calculate PEG ratio for GIMV, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on GIMV's assets?
Raw Data
BST:GI3 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-09-30) in EUR €51.43
ENXTBR:GIMB Share Price * ENXTBR (2020-03-30) in EUR €46.9
Germany Capital Markets Industry PB Ratio Median Figure of 32 Publicly-Listed Capital Markets Companies 1.5x
Germany Market PB Ratio Median Figure of 574 Publicly-Listed Companies 1.43x
BST:GI3 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= ENXTBR:GIMB Share Price ÷ Book Value per Share (both in EUR)

= 46.9 ÷ 51.43

0.91x

* Primary Listing of GIMV.

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

  • GIMV is good value based on assets compared to the DE Capital Markets industry average.
X
Value checks
We assess GIMV'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 Capital Markets 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 Capital Markets industry average (and greater than 0)? (1 check)
  5. GIMV has a total score of 5/6, 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.

GI3 Future Performance

 How is GIMV expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as GIMV has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by Simply Wall St do have past financial data. You can see them here.

Show me the analysis anyway

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
40.9%
Expected Capital Markets industry annual growth in earnings.
Earnings growth vs Low Risk Savings
Is GIMV expected to grow at an attractive rate?
  • Unable to compare GIMV's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare GIMV's earnings growth to the Germany market average as no estimate data is available.
  • Unable to compare GIMV's revenue growth to the Germany market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
BST:GI3 Future Growth Rates Data Sources
Data Point Source Value (per year)
Germany Capital Markets Industry Earnings Growth Rate Market Cap Weighted Average 40.9%
Germany Capital Markets Industry Revenue Growth Rate Market Cap Weighted Average 1%
Germany Market Earnings Growth Rate Market Cap Weighted Average 14.3%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4.1%

*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
BST:GI3 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (6 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
BST:GI3 Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2020-03-30
BST:GI3 Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2019-09-30 270 -38 101
2019-06-30 248 -37 107
2019-03-31 226 -35 112
2018-12-31 222 -36 110
2018-09-30 219 -37 107
2018-06-30 226 -35 107
2018-03-31 234 -34 107
2017-12-31 221 -32 108
2017-09-30 209 -30 109
2017-06-30 238 -35 121
2017-03-31 266 -40 132
2016-12-31 298 -46 145

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if GIMV is high growth as no earnings estimate data is available.
  • Unable to determine if GIMV is high growth as no revenue estimate data is available.
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
BST:GI3 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (6 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from GIMV Company Filings, last reported 6 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

BST:GI3 Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2020-03-30
BST:GI3 Past Financials Data
Date (Data in EUR Millions) EPS *
2019-09-30 3.97
2019-06-30 4.19
2019-03-31 4.41
2018-12-31 4.31
2018-09-30 4.21
2018-06-30 4.21
2018-03-31 4.21
2017-12-31 4.26
2017-09-30 4.30
2017-06-30 4.74
2017-03-31 5.19
2016-12-31 5.69

*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.
  • Unable to establish if GIMV will efficiently use shareholders’ funds in the future without estimates of Return on Equity.

Next steps:

  1. Examine whether GIMV is trading at GIMV'san attractive price based on how much it is expected to earn in the future, and relative to its industry peers and the wider market.
  2. GIMV's future outlook can be gauged by looking at industry trends and market size, and determining how well-positioned the company is compared to its competitors. Take a look at other high-growth Diversified Financials companies here
  3. GIMV's competitive advantages and company strategy can generally be found in its financial reports archived here.
  4. Use fundamentals to screen for another stock to analyse from our database of over 75,000 companies worldwide
X
Future performance checks
We assess GIMV'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.
GIMV has a total score of 0/6, 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.

GI3 Past Performance

  How has GIMV 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 GIMV's growth in the last year to its industry (Capital Markets).
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.
  • GIMV's year on year earnings growth rate was negative over the past 5 years, however the most recent earnings are above average.
  • GIMV's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • GIMV's 1-year earnings growth is negative, it can't be compared to the DE Capital Markets industry average.
Earnings and Revenue History
GIMV'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 GIMV Company Filings, last reported 6 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

BST:GI3 Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-09-30 269.51 101.04 18.87
2019-06-30 247.53 106.56 18.08
2019-03-31 225.55 112.08 17.29
2018-12-31 222.18 109.50 18.08
2018-09-30 218.81 106.92 18.88
2018-06-30 226.28 106.99 19.45
2018-03-31 233.75 107.06 20.02
2017-12-31 221.29 108.23 19.46
2017-09-30 208.84 109.39 18.90
2017-06-30 237.62 120.62 19.83
2017-03-31 266.40 131.85 20.76
2016-12-31 298.36 144.61 20.50
2016-09-30 330.32 157.37 20.24
2016-06-30 297.22 147.27 19.61
2016-03-31 264.12 137.18 18.98
2015-12-31 266.12 144.77 19.01
2015-09-30 268.13 152.37 19.04
2015-06-30 270.77 144.18 18.41
2015-03-31 273.41 135.99 17.78
2014-12-31 91.36 101.59 -39.24
2014-09-30 181.76 42.50 17.00
2014-06-30 166.42 28.75 16.96
2014-03-31 151.09 15.00 16.93
2013-12-31 183.63 15.39 39.51
2013-09-30 478.05 47.12 134.49
2013-06-30 526.85 49.42 141.77
2013-03-31 199.64 32.75 20.02

*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.
  • GIMV has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • GIMV used its assets more efficiently than the DE Capital Markets industry average last year based on Return on Assets.
  • GIMV's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess GIMV'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 Capital Markets 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.
GIMV has a total score of 1/6, 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.

GI3 Health

 How is GIMV'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 GIMV's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • GIMV is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • GIMV's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of GIMV'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 covered by short term assets, assets are 1.7x 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 GIMV Company Filings, last reported 6 months ago.

BST:GI3 Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2019-09-30 1,338.36 250.00 421.23
2019-06-30 1,338.36 250.00 421.23
2019-03-31 1,347.34 0.00 276.70
2018-12-31 1,347.34 0.00 276.70
2018-09-30 1,293.57 0.00 314.57
2018-06-30 1,293.57 0.00 314.57
2018-03-31 1,339.85 0.00 380.45
2017-12-31 1,339.85 0.00 380.45
2017-09-30 1,281.85 0.00 286.62
2017-06-30 1,281.85 0.00 286.62
2017-03-31 1,278.92 0.00 313.91
2016-12-31 1,278.92 0.00 313.91
2016-09-30 1,228.52 0.00 349.62
2016-06-30 1,228.52 0.00 349.62
2016-03-31 1,195.07 0.00 192.78
2015-12-31 1,195.07 0.00 192.78
2015-09-30 1,113.62 0.00 207.97
2015-06-30 1,113.62 0.00 207.97
2015-03-31 1,111.21 0.00 184.77
2014-12-31 1,111.21 0.00 184.77
2014-09-30 1,016.77 0.00 116.10
2014-06-30 1,016.77 0.00 116.10
2014-03-31 1,003.03 0.00 56.64
2013-12-31 1,003.03 0.00 56.64
2013-09-30 989.13 147.42 152.56
2013-06-30 989.13 147.42 152.56
2013-03-31 1,020.68 0.00 195.30
  • GIMV's level of debt (18.7%) compared to net worth is satisfactory (less than 40%).
  • Unable to establish if GIMV's debt level has increased without past 5-year debt data.
  • Operating cash flow is negative therefore debt is not well covered.
  • Interest payments on debt are well covered by earnings (EBIT is 97.6x coverage).
X
Financial health checks
We assess GIMV'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. GIMV has a total score of 4/6, 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.

GI3 Dividends

 What is GIMV'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
5.33%
Current annual income from GIMV dividends.
If you bought €2,000 of GIMV shares you are expected to receive €107 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?
  • GIMV's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.7%).
  • GIMV's dividend is above the markets top 25% of dividend payers in Germany (4.97%).
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
BST:GI3 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 0 Analyst Estimates (S&P Global) See Below
Germany Capital Markets Industry Average Dividend Yield Market Cap Weighted Average of 15 Stocks 3.4%
Germany Market Average Dividend Yield Market Cap Weighted Average of 323 Stocks 3.9%
Germany Minimum Threshold Dividend Yield 10th Percentile 1%
Germany Bottom 25% Dividend Yield 25th Percentile 1.7%
Germany Top 25% Dividend Yield 75th Percentile 5%

Industry and Market average data is calculated daily.

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

BST:GI3 Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2020-03-30
BST:GI3 Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2019-05-23 2.500 4.631
2018-05-24 2.500 5.069
2017-06-28 2.500 4.894
2016-06-29 2.450 4.832
2015-05-21 2.450 5.458
2014-06-24 2.450 6.376
2013-05-27 2.450 6.535
2012-05-23 2.450 6.432
2012-05-22 1.838 5.012
2012-05-15 2.450 6.745
2011-06-29 1.838 4.913
2011-05-30 2.450 5.516
2011-05-19 2.450 5.358
2010-05-19 2.400 6.065
2009-11-19 1.770 4.698
2009-06-24 1.770 4.965

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

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of GIMV's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.6x coverage).
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess GIMV's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1%) - 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 GIMV afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. GIMV has a total score of 5/6, see the detailed checks below.


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

GI3 Management

 What is the CEO of GIMV'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
Koen Dejonckheere
COMPENSATION €0
AGE 50
TENURE AS CEO 11.4 years
CEO Bio

Mr. Koen Dejonckheere, MBA, M.Sc., Eng. is Chief Executive Officer at GIMV NV since October 2008 and serves as its Managing Director. Mr. Dejonckheere also served as a Member of the Partner's Council at GIMV NV. Mr. Dejonckheere serves as the President at Belgian Venture Capital & Private Equity Association. Previously, Mr. Dejonckheere served as a Managing Director and Head of Corporate Finance at KBC Securities NV, where he made major contributions to the European expansion of the corporate finance activities. Prior to that, Mr. Dejonckheere was active in both Corporate Finance and Private Equity. He served as a Managing Director at GIMV NV. He served as an Investment Manager of NeSBIC Groep BV. He joined NeSBIC in early 2000. He served as an Investment Banking Manager of PricewaterhouseCoopers Corporate Finance France. Mr. Dejonckheere served as an Investment Manager of Halder Beteiligungsberatung GmbH. He served as an Executive Officer of ING Belgium SA/NV. Prior to that, he served as an Investment Manager for Buyout Specialist Halder Invest and as an Investment Banking Manager at Bank Brussels Lambert, PriceWaterhouse Corporate Finance and ING. In his career, Mr. Dejonckheere was active as a Management Consultant and Corporate Finance Expert at 'crossroads decisions'. He serves as a Director of Hospital Group AZ Delta, VOKA-VEV and Home Invest Sicafi. He is a Non-Executive Director Enternext SA. Mr. Dejonckheere has been an Independent Director of Home Invest Belgium S.A. since May 3, 2011. He serves as a Director at Belgian Venture Capital & Private Equity Association. He serves as a Non-Executive and Independent Director at Roularta Media Group NV. He is the Chairman of Belgian Venturing Association. He is the Chairman of the Belgian Association of Listed Companies (FEB) and Board Member of EuropeanIssuers aisbl. Mr. Dejonckheere served as the Chairman of Belgian Venture Capital & Private Equity Association. He has been a Director at GIMV NV since 2008. He was a Director of CapMan Oyj from March 2010 until March 16, 2016. In recent years, he has become one of the authorities amongst Belgian investment bankers. Mr. Dejonckheere has been active in the entrepreneurial world for 20 years at the intersection of strategic choices. He has extensive experience as a Dealmaker in investment banking and private equity in Belgium and abroad. Mr. Dejonckheere holds an M.B.A. from IEFSI in Lille (France) and a M.Sc. in Civil Engineering from the University of Ghent.

CEO Compensation
  • Koen's compensation has increased by more than 20% in the past year whilst earnings fell less than 20%.
  • Koen's remuneration is lower than average for companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the GIMV management team in years:

12.2
Average Tenure
50
Average Age
  • The average tenure for the GIMV management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Koen Dejonckheere

TITLE
CEO, MD & Director
AGE
50
TENURE
11.4 yrs

Kristof Vande Capelle

TITLE
Chief Financial Officer
AGE
50

Edmond Bastijns

TITLE
Chief Legal Officer & Secretary General
AGE
46
TENURE
13 yrs

Patrick Van Beneden

TITLE
AGE
57

Bart Diels

TITLE
Managing Partner & Head of Health & Care
AGE
50

Elderd Land

TITLE
Partner - Head Gimv the Netherlands
AGE
52
TENURE
20.2 yrs

Tom Van de Voorde

TITLE
Managing Partner & Head of Smart Industries
AGE
48
TENURE
2.8 yrs

Anne Caron

TITLE
AGE
58

Arnaud Persyn

TITLE
Principal
AGE
31

Clémence Robles

TITLE
Principal
AGE
31
Board of Directors Tenure

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

5.8
Average Tenure
64
Average Age
  • The tenure for the GIMV board of directors is about average.
Board of Directors

Hilde Laga

TITLE
Chairman
AGE
63
TENURE
3.9 yrs

Koen Dejonckheere

TITLE
CEO, MD & Director
AGE
50
TENURE
12.2 yrs

Luc Missorten

TITLE
Independent Director
COMPENSATION
€49K
AGE
64
TENURE
5.8 yrs

Frank Verhaegen

TITLE
Independent Director
COMPENSATION
€58K
AGE
59
TENURE
2.7 yrs

Martin De Prycker

TITLE
Member of Technology Advisory Board
AGE
64

Yossi Kofman

TITLE
Member of Technology Advisory Board
TENURE
12.7 yrs

Jan Oosterveld

TITLE
Member of the Technology Advisory Board
AGE
75

Marc Van Sande

TITLE
Member of Technology and Cleantechnology Advisory Board
AGE
67

Tan Gay

TITLE
Member of Gimv Asia Advisory Council

Steve Wu

TITLE
Member of Gimv Asia Advisory Council
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
X
Management checks
We assess GIMV'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. GIMV 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.

GI3 News

Simply Wall St News

GI3 Company Info

Description

GIMV NV is a private equity and venture capital firm specializing in direct and fund of funds investments. For direct investments, the firm specializes in buyouts, growth capital, middle market, debt, shareholder loans, seed, startups, early to mid-stage, late venture, public to private transactions, small and medium sized enterprises, later stage, mature, replacement capital, bridge financing, and recapitalization. Within fund of funds, it seeks to invest in venture capital and private equity funds. It seeks to invest in high performance growth companies that respond to that can speed up their internal growth through acquisitions. The firm typically invests in consumer 2020; Connected Consumer, fintech; health and care; smart industries; and sustainable cities. Within consumer 2020, it seeks to provide growth capital to emerging leaders. Within health and care platform, the firm seeks to invest in companies that can grow either organically or through a buy and build strategy. It mainly focuses on European market and midcap companies in Flanders and Brussels, and also invests in Kazakhstan, Benelux, Germany, France, Italy, Luxembourg, Netherlands, United Kingdom, Russia, Czech Republic, and Slovakia. Within consumer 2020, it focuses on consumer goods, food and beverage, healthy food, sport, convenience food, personal luxury, career, home & deco, baby & kids, pet products, retail, consumer services, media and content, travel and leisure, education, digital economy and online sectors. It invests in small and medium sized businesses primarily with headquarters in the Benelux, France, and Germany with an enterprise value of up to €125 million ($144.76 million). It seeks to invest between €3 million ($3.47 million) to €30 million ($34.74 million). Within health and care sector, it focuses on life sciences, medtech, and health and care services. The firm focuses on biotech/biopharma comprising drugs, platform technologies, vaccines and diagnostic tests, preclinical, early clinical, and late clinical, medtech such as medical devices, consumables, IT and small equipment, and health and care services based companies with headquarters in Benelux, France and DACH region. It typically makes investments between €3 million ($3.47 million) to €10 million ($11.58 million) in the biopharma and medtech and between €10 million ($11.58 million) to €30 million ($34.74 million) in the health and care services. It also seeks to be an active shareholder, preferably lead or co-lead in its investments. Within smart industries, it focuses on equipment, services and tools for resource efficient development and production, automotive and aerospace, both optimizing of the existing and development of new means of transport, software and services harnessing the flexibility of the cloud, smart data management and advanced computation power, and components and systems for efficient use of energy, in terms of production, storage, management, use and transport sectors. It focuses on B2B products and services, based on innovation, advanced engineering, advanced manufacturing or software. It seeks to invest in small to medium companies with headquarters in the Benelux, France and Germany (DACH) targeting an international customer base. It invests in companies with an enterprise value of up to €125 million ($144.76 million). It also makes flexible equity investment (equity, semi-equity, minority or majority) but always with a meaningful impact on the company and an exit trigger. It seeks to invest between €3 million ($3.47 million) to €30 million ($34.74 million). Within sustainable cities, it focuses on Products, services and infrastructure for building sustainable urban societies: Utilities and consumer goods related to energy and other (raw) materials, Waste treatment, recycling and recovery, Construction and Infrastructure, Transport and Logistics Services, and biomass, green (sustainable) chemistry, water, offshore and maritime solutions and energy efficient infrastructure. It invests through (mezzanine, equity, minority or majority) but will always strive to have a meaningful impact on the company strategy and need an exit trigger. It also invests in semiconductors, chemicals, agriculture, clean technology, electronics, water processing and purification technologies. For fund of fund investments, it seeks to invest in Europe. It typically invests between $3.73 million and $425.439 million in companies with an enterprise value between $106.04 million and $1060.44 million and sales value ranging from $6.67 million to $567.252 million. It may take a majority or a minority stake in its portfolio companies. Its investment horizon is between four and seven years. It also seeks a board seat in its portfolio companies. It invests with capital from its own balance sheet and through various funds under management. GIMV NV was founded on February 25, 1980 and is based in Antwerp, Belgium with additional offices in Paris, France; Hague, The Netherlands; Frankfurt am Main, Germany; London, United Kingdom; Prague, Czech Republic; Warsaw, Poland; and Munich, Germany.

Details
Name: GIMV NV
GI3
Exchange: BST
Founded: 1980
€1,192,510,916
25,426,672
Website: http://www.gimv.com
Address: GIMV NV
Karel Oomsstraat 37,
Antwerp,
Antwerp, 2018,
Belgium
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
ENXTBR GIMB Ordinary Shares Euronext Brussels BE EUR 26. Jun 1997
OTCPK GIMV.F Ordinary Shares Pink Sheets LLC US USD 26. Jun 1997
BST GI3 Ordinary Shares Boerse-Stuttgart DE EUR 26. Jun 1997
LSE 0EKR Ordinary Shares London Stock Exchange GB EUR 26. Jun 1997
BATS-CHIXE GIMBB Ordinary Shares BATS 'Chi-X Europe' GB EUR 26. Jun 1997
Number of employees
Current staff
Staff numbers
91
GIMV employees.
Industry
Asset Management and Custody Banks
Diversified Financials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/03/30 23:11
End of day share price update: 2020/03/30 00:00
Last estimates confirmation: 2020/01/21
Last earnings filing: 2019/11/21
Last earnings reported: 2019/09/30
Last annual earnings reported: 2019/03/31


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.