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KBC Ancora

DB:KB9
Snowflake Description

Proven track record with adequate balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
KB9
DB
€3B
Market Cap
  1. Home
  2. DE
  3. Diversified Financials
Company description

KBC Ancora SCA holds participating interest in KBC Group SA. The last earnings update was 18 days ago. More info.


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KB9 Share Price and Events
7 Day Returns
2.8%
DB:KB9
5%
DE Diversified Financial
2.5%
DE Market
1 Year Returns
-5.1%
DB:KB9
1.4%
DE Diversified Financial
2.6%
DE Market
KB9 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
KBC Ancora (KB9) 2.8% 2.8% 2.4% -5.1% 25.8% 95.3%
DE Diversified Financial 5% 7% -5% 1.4% 75.8% 333.8%
DE Market 2.5% 0.2% 1% 2.6% 7.8% 23.7%
1 Year Return vs Industry and Market
  • KB9 underperformed the Diversified Financial industry which returned 1.4% over the past year.
  • KB9 underperformed the Market in Germany which returned 2.6% over the past year.
Price Volatility
KB9
Industry
5yr Volatility vs Market

Value

 Is KBC Ancora 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 KBC Ancora 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 KBC Ancora.

DB:KB9 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
= €34.89 * 8.6%
€2.99
Book Value of Equity per Share Median Book Value from the past 5 years. €34.89
Discount Rate (Cost of Equity) See below 6%
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:KB9
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6.8%
Diversified Financial Unlevered Beta Simply Wall St/ S&P Global 0.72
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.72 (1 + (1- 29%) (10.81%))
0.849
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.85
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (0.849 * 6.8%)
6%

Discounted Cash Flow Calculation for DB:KB9 using Excess Returns Model Model

The calculations below outline how an intrinsic value for KBC Ancora 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.

DB:KB9 Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (8.6% – 6%) * €34.89)
€0.90
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= €0.90 / (6% - 0.23%)
€15.56
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= €34.89 + €15.56
€50.45
DB:KB9 Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:KB9 represents 1.00099x of ENXTBR:KBCA
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
1.00099x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (EUR) x Listing Adjustment Factor
= € 50.45 x 1.00099
€50.50
Value per share (EUR) From above. €50.50
Current discount Discount to share price of €40.58
= -1 x (€40.58 - €50.50) / €50.50
19.7%

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

Current Discount
Amount off the current price KBC Ancora is available for.
Intrinsic value
20%
Share price is €40.58 vs Future cash flow value of €50.5
Current Discount Checks
For KBC Ancora to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • KBC Ancora's share price is below the future cash flow value, but not at a moderate discount (< 20%).
  • KBC Ancora's share price is below the future cash flow value, but not 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 KBC Ancora's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are KBC Ancora's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:KB9 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-06-30) in EUR €3.24
ENXTBR:KBCA Share Price ** ENXTBR (2019-10-11) in EUR €40.54
Germany Diversified Financial Industry PE Ratio Median Figure of 6 Publicly-Listed Diversified Financial Companies 27.82x
Germany Market PE Ratio Median Figure of 417 Publicly-Listed Companies 19.72x

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

** Primary Listing of KBC Ancora.

DB:KB9 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

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

= 40.54 ÷ 3.24

12.51x

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

  • KBC Ancora is good value based on earnings compared to the DE Diversified Financial industry average.
  • KBC Ancora is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does KBC Ancora's expected growth come at a high price?
Raw Data
DB:KB9 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 12.51x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts
6.9%per year
Europe Diversified Financial Industry PEG Ratio Median Figure of 13 Publicly-Listed Diversified Financial Companies 1.81x
Germany Market PEG Ratio Median Figure of 264 Publicly-Listed Companies 1.38x

*Line of best fit is calculated by linear regression .

DB:KB9 PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 12.51x ÷ 6.9%

1.81x

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

  • KBC Ancora is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on KBC Ancora's assets?
Raw Data
DB:KB9 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-06-30) in EUR €35.06
ENXTBR:KBCA Share Price * ENXTBR (2019-10-11) in EUR €40.54
Germany Diversified Financial Industry PB Ratio Median Figure of 9 Publicly-Listed Diversified Financial Companies 3.77x
Germany Market PB Ratio Median Figure of 597 Publicly-Listed Companies 1.74x
DB:KB9 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 40.54 ÷ 35.06

1.16x

* Primary Listing of KBC Ancora.

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

  • KBC Ancora is good value based on assets compared to the DE Diversified Financial industry average.
X
Value checks
We assess KBC Ancora'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 Diversified Financial 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 Diversified Financial industry average (and greater than 0)? (1 check)
  5. KBC Ancora 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.

Future Performance

 How is KBC Ancora expected to perform in the next 1 to 3 years based on estimates from 1 analyst?

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
6.9%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is KBC Ancora expected to grow at an attractive rate?
  • KBC Ancora's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • KBC Ancora's earnings growth is positive but not above the Germany market average.
  • KBC Ancora's revenue growth is expected to exceed the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:KB9 Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:KB9 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts 6.9%
DB:KB9 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 1 Analysts 6.4%
Germany Diversified Financial Industry Earnings Growth Rate Market Cap Weighted Average 17.3%
Europe Diversified Financial Industry Revenue Growth Rate Market Cap Weighted Average 0.6%
Germany Market Earnings Growth Rate Market Cap Weighted Average 12.8%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4.9%

*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:KB9 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:KB9 Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-06-30 310 293 1
2020-06-30 329 312 1
2019-10-12
DB:KB9 Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2019-06-30 271 254 254
2019-03-31 252 234
2018-12-31 233 215
2018-09-30 233 215
2018-06-30 233 215 215
2018-03-31 548 530
2017-12-31 864 845
2017-09-30 864 844
2017-06-30 864 197 843
2017-03-31 471 450
2016-12-31 78 57
2016-09-30 39 18

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • KBC Ancora's earnings are expected to grow by 6.9% yearly, however this is not considered high growth (20% yearly).
  • KBC Ancora's revenue is expected to grow by 6.4% 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:KB9 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below

All data from KBC Ancora Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:KB9 Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-06-30 3.75 3.75 3.75 1.00
2020-06-30 3.99 3.99 3.99 1.00
2019-10-12
DB:KB9 Past Financials Data
Date (Data in EUR Millions) EPS *
2019-06-30 3.24
2019-03-31 2.99
2018-12-31 2.75
2018-09-30 2.75
2018-06-30 2.75
2018-03-31 6.77
2017-12-31 10.79
2017-09-30 10.78
2017-06-30 10.77
2017-03-31 5.75
2016-12-31 0.73
2016-09-30 0.23

*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.
  • KBC Ancora is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess KBC Ancora'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 Europe 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.
KBC Ancora has a total score of 2/6, 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.

Past Performance

  How has KBC Ancora 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 KBC Ancora's growth in the last year to its industry (Diversified Financial).
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.
  • KBC Ancora has delivered over 20% year on year earnings growth in the past 5 years.
  • KBC Ancora's 1-year earnings growth is less than its 5-year average (18% vs 35.4%)
  • KBC Ancora's earnings growth has exceeded the Europe Diversified Financial industry average in the past year (18% vs 3.5%).
Earnings and Revenue History
KBC Ancora'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 KBC Ancora Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:KB9 Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-06-30 271.35 253.74 2.51
2019-03-31 251.98 234.33 2.52
2018-12-31 232.61 214.92 2.53
2018-09-30 232.63 214.98 2.49
2018-06-30 232.66 215.05 2.46
2018-03-31 548.16 529.94 2.42
2017-12-31 863.66 844.84 2.39
2017-09-30 863.64 844.02 2.34
2017-06-30 863.63 843.21 2.29
2017-03-31 470.63 449.95 2.27
2016-12-31 77.62 56.70 2.25
2016-09-30 38.86 17.86 2.25
2016-06-30 0.10 -20.99 2.25
2016-03-31 77.63 56.46 2.24
2015-12-31 155.16 133.91 2.23
2015-09-30 155.17 133.81 2.25
2015-06-30 155.18 133.71 2.26
2015-03-31 94.79 56.21 3.44
2014-12-31 34.40 -21.30 2.17
2014-09-30 52.37 2.55 2.21
2014-06-30 70.34 26.39 2.26
2014-03-31 94.28 65.09 2.33
2013-12-31 118.22 103.79
2013-09-30 100.22 77.29
2013-06-30 82.22 50.80 2.41
2013-03-31 41.52 10.06
2012-12-31 0.83 -30.67

*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.
  • KBC Ancora has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • KBC Ancora used its assets more efficiently than the DE Diversified Financial industry average last year based on Return on Assets.
  • KBC Ancora has become profitable over the past 3 years. This is considered to be a significant improvement in its use of capital (Return on Capital Employed).
X
Past performance checks
We assess KBC Ancora'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 Diversified Financial 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.
KBC Ancora has a total score of 4/6, 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.

Health

 How is KBC Ancora'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 KBC Ancora's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • KBC Ancora's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • KBC Ancora's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of KBC Ancora'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 0x 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 KBC Ancora Company Filings, last reported 3 months ago.

DB:KB9 Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2019-06-30 2,744.89 343.00 1.18
2019-03-31 2,744.89 343.00 1.18
2018-12-31 2,801.01 375.00 96.92
2018-09-30 2,801.01 375.00 96.92
2018-06-30 2,732.31 375.00 20.66
2018-03-31 2,732.31 375.00 20.66
2017-12-31 2,790.45 375.00 86.37
2017-09-30 2,790.45 375.00 86.37
2017-06-30 2,721.63 375.00 10.02
2017-03-31 2,721.63 375.00 10.02
2016-12-31 2,112.39 375.00 56.74
2016-09-30 2,112.39 375.00 56.74
2016-06-30 2,045.21 394.66 0.00
2016-03-31 2,045.21 394.66 0.00
2015-12-31 2,055.70 375.00
2015-09-30 2,055.70 375.00
2015-06-30 2,066.19 375.00 1.36
2015-03-31 2,066.19 375.00 1.36
2014-12-31 2,028.28 401.97 0.00
2014-09-30 2,028.28 401.97 0.00
2014-06-30 2,038.98 400.84 0.00
2014-03-31 2,038.98 400.84 0.00
2013-12-31 2,049.58 379.75 0.00
2013-09-30 2,049.58 379.75 0.00
2013-06-30 2,012.58 573.09 0.00
2013-03-31 2,012.58 573.09 0.00
2012-12-31 1,945.79 625.37 0.00
  • KBC Ancora's level of debt (12.5%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (19.7% vs 12.5% today).
  • Debt is well covered by operating cash flow (74%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 17.8x coverage).
X
Financial health checks
We assess KBC Ancora'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. KBC Ancora 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.

Dividends

 What is KBC Ancora'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
7.6%
Current annual income from KBC Ancora dividends. Estimated to be 9.07% next year.
If you bought €2,000 of KBC Ancora shares you are expected to receive €152 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?
  • KBC Ancora's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.46%).
  • KBC Ancora's dividend is above the markets top 25% of dividend payers in Germany (3.86%).
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:KB9 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 1 Analyst Estimates (S&P Global) See Below
Europe Diversified Financial Industry Average Dividend Yield Market Cap Weighted Average of 32 Stocks 3.2%
Germany Market Average Dividend Yield Market Cap Weighted Average of 337 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 3.9%

Industry and Market average data is calculated daily.

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

DB:KB9 Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2021-06-30 3.56 1.00
2020-06-30 3.79 1.00
2019-10-12
DB:KB9 Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2019-09-24 3.080 7.691
2019-08-30 3.080 7.902
2019-05-24 3.080 7.919
2018-08-31 2.610 6.313
2018-08-30 2.610 5.974
2017-09-27 2.130 4.269
2017-08-31 2.130 4.511
2017-05-19 2.130 4.791
2016-09-28 0.000 0.000
2016-08-26 0.000 0.000
2016-01-29 0.000 0.000
2015-09-30 0.000 0.000
2015-08-28 0.000 0.000
2015-01-30 2.720 8.048
2010-01-29 0.000 0.000
2009-10-15 0.000 0.000
2009-09-01 0.000 0.000
2008-10-16 3.400 42.505

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 KBC Ancora's earnings are paid to the shareholders as a dividend.
  • Dividends paid are not well covered by earnings (1.1x 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 KBC Ancora'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 KBC Ancora afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. KBC Ancora has a total score of 2/6, see the detailed checks below.


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

Management

 What is the CEO of KBC Ancora'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
Franky Depickere
AGE 60
CEO Bio

Mr. Franky Cera Depickere is a Member of Supervisory Board at United Bulgarian Bank AD. Mr. Depickere serves as Non-Executive Director at KBC bank. Mr. Franky Cera Depickere serves as the President of BRS vzw. Mr. Depickere has been Managing Director of Cera Société de gestion and Almancora Société de gestion SA, the statutory Manager of KBC Ancora SCA since September 15, 2006. He serves as Managing Director of Cera Beheersmaatschappij NV and Almancora Beheersmaatschappij NV. He worked at Gemeentekrediet bank for a short period. He joined CERA group in 1982 where he served a variety of management posts for seventeen years. He was an Internal Audit Inspector at CERA Bank and Financial Director of CERA Lease Factors Autolease. He served as the Managing Director of KBC Securities. He served as Managing Director of F. Van Lanschot Bankiers België NV since 1999 and served as Group Director of F. van Lanschot Bankiers Nederland. He served as General Manager of Van Lanschot NV. He serves as the Chairman of the Board of Directors at Flanders Business School, BRS vzw and the International Raiffeisen Union (I.R.U.). He served as Chairman of Nédée België-Luxemburg, a subsidiary of CERA Bank. Mr. Depickere has been a Non-Executive Director at KBC Bank NV since April 25, 2007 and KBC Group NV since September 15, 2006. He served as an Independent Director of Miko NV. He has been a Director of Almancora Société de gestion SA, the statutory Manager of KBC Ancora SCA since September 15, 2006. He serves as a Director of KBC Insurance, CBC Banque, KBC Assurances and Kredietbank Luxembourgeoise. He serves as a Member of the Supervisory Board at Euro Pool System International B.V. (the Netherlands). He has been Member of the Supervisory Board at Ceskoslovenska obchodni banka, a. s. since June 1, 2014. He served as a Director of Absolut Bank from July 26, 2007 to May 27, 2013. He served as Delegated Director of F. van Lanschot Bankiers (Belgie) NV. He served as a Director of KBL European Private Bankers S.A. until July 31, 2012. Mr Depickere is the Chairman of the RCC. He serves as Chairman of the Day-to-Day Management Committee at Cera CVBA. He served as a Member of the Management Committee at CERA Investment Bank. He served as also a Member of the Strategic Committee at F. van Lanschot Bankiers Nederland since 2005. He holds an Master’s degree in Commercial and Financial Sciences from the University of Antwerp (UFSIA) and an Master’s degree in Company Financial Management - VLEKHO Business School, Brussels (Belgium).

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

Franky Depickere

TITLE
MD of Almancora Société De Gestion SA and Executive Director of Almancora Société De Gestion SA
AGE
60

Katelijn Callewaert

TITLE
MD & Director of Almancora Societe De Gestion SA
COMPENSATION
€33K
AGE
61
TENURE
3.3 yrs
Board of Directors Tenure

Average tenure and age of the KBC Ancora board of directors in years:

3.4
Average Tenure
61
Average Age
  • The tenure for the KBC Ancora board of directors is about average.
Board of Directors

Jules Stuyck

TITLE
Chairman of Almancora Societe De Gestion SA
COMPENSATION
€34K
AGE
71
TENURE
3.3 yrs

Franky Depickere

TITLE
MD of Almancora Société De Gestion SA and Executive Director of Almancora Société De Gestion SA
AGE
60

Katelijn Callewaert

TITLE
MD & Director of Almancora Societe De Gestion SA
COMPENSATION
€33K
AGE
61
TENURE
9 yrs

Johan Massy

TITLE
Vice Chairman of Almancora Société De Gestion SA
COMPENSATION
€13K
AGE
61

Herman Vandaele

TITLE
Independent and Non-Executive Director of Almancora Societe De Gestion SA
COMPENSATION
€22K
AGE
69
TENURE
8.9 yrs

Koen Kerremans

TITLE
Non-Executive Director of Almancora Societe De Gestion SA
COMPENSATION
€8K
AGE
60
TENURE
6.9 yrs

Henri Vandermeulen

TITLE
Director of Almancora Société de Gestion SA
COMPENSATION
€9K
AGE
62
TENURE
3.5 yrs

Liesbet Okkerse

TITLE
Director of Almancora Societe De Gestion Sa
COMPENSATION
€9K
AGE
41
TENURE
2.9 yrs

Rita Van Kerckhoven

TITLE
Director of Almancora Societe De Gestion SA
COMPENSATION
€17K
TENURE
2.9 yrs

Christiane Steegmans

TITLE
Director of Almancora Société de gestion SA
COMPENSATION
€11K
AGE
61
TENURE
2.1 yrs
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 KBC Ancora'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. KBC Ancora 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.

News

Simply Wall St News

Company Info

Description

KBC Ancora SCA holds participating interest in KBC Group SA. The company was formerly known as Almancora SCA and changed its name to KBC Ancora SCA in June 2007. KBC Ancora SCA was incorporated in 1998 and is based in Leuven, Belgium. KBC Ancora SCA is a subsidiary of Cera SCRL.

Details
Name: KBC Ancora SCA
KB9
Exchange: DB
Founded: 1998
€3,174,335,269
78,301,314
Website: http://www.kbcancora.be
Address: KBC Ancora SCA
Muntstraat 1,
Leuven,
Flemish Brabant, 3000,
Belgium
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
ENXTBR KBCA Registered Shares Euronext Brussels BE EUR 04. Apr 2001
DB KB9 Registered Shares Deutsche Boerse AG DE EUR 04. Apr 2001
LSE 0MFW Registered Shares London Stock Exchange GB EUR 04. Apr 2001
BATS-CHIXE KBCAB Registered Shares BATS 'Chi-X Europe' GB EUR 04. Apr 2001
Number of employees
Current staff
Staff numbers
0
KBC Ancora employees.
Industry
Other Diversified Financial Services
Diversified Financials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/10/12 21:33
End of day share price update: 2019/10/11 00:00
Last estimates confirmation: 2019/08/30
Last earnings filing: 2019/09/24
Last earnings reported: 2019/06/30
Last annual earnings reported: 2019/06/30


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.