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Aedes SIIQ

BATS-CHIXE:AEDM
Snowflake Description

Overvalued with weak fundamentals.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
AEDM
BATS-CHIXE
€31M
Market Cap
  1. Home
  2. GB
  3. Real Estate
Company description

Aedes SIIQ (MTA:AED) was created and at the same time is listed on the MTA Market of the Italian Stock Exchange, following the partial proportional demerger of Restart (a company founded in 1905 and listed on the Italian Stock Exchange since 1924) on 28 December 2018. The last earnings update was 161 days ago. More info.


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AEDM Share Price and Events
7 Day Returns
0%
BATS-CHIXE:AEDM
1.5%
GB REITs
1.7%
GB Market
1 Year Returns
-23.6%
BATS-CHIXE:AEDM
-17.9%
GB REITs
-21.8%
GB Market
AEDM Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Aedes SIIQ (AEDM) 0% 0% - -23.6% - -
GB REITs 1.5% -17.8% -25.7% -17.9% -18.5% -23.9%
GB Market 1.7% -12% -25.3% -21.8% -22.8% -22.4%
1 Year Return vs Industry and Market
  • AEDM underperformed the REITs industry which returned -17.9% over the past year.
  • AEDM underperformed the Market in United Kingdom of Great Britain and Northern Ireland which returned -21.8% over the past year.
Price Volatility
Industry
5yr Volatility vs Market

Value

 Is Aedes SIIQ 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 Aedes SIIQ 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 Aedes SIIQ.

BATS-CHIXE:AEDM Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Extrapolated from most recent financials. See below
Discount Rate (Cost of Equity) See below 17%
Perpetual Growth Rate 10-Year GB 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 BATS-CHIXE:AEDM
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year GB Govt Bond Rate 0.5%
Equity Risk Premium S&P Global 8.2%
REITs Unlevered Beta Simply Wall St/ S&P Global 0.5
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.504 (1 + (1- 24%) (645.97%))
2.325
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
2
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.53% + (2 * 8.23%)
16.99%

Discounted Cash Flow Calculation for BATS-CHIXE:AEDM using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Aedes SIIQ 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.

Note: Free cash flow to equity valuations ignore the company's cash or debt.

BATS-CHIXE:AEDM DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (EUR, Millions) Source Present Value
Discounted (@ 16.99%)
2020 4.01 Est @ 3.67% 3.42
2021 4.12 Est @ 2.73% 3.01
2022 4.20 Est @ 2.07% 2.62
2023 4.27 Est @ 1.61% 2.28
2024 4.32 Est @ 1.28% 1.97
2025 4.37 Est @ 1.06% 1.70
2026 4.41 Est @ 0.9% 1.47
2027 4.44 Est @ 0.79% 1.27
2028 4.48 Est @ 0.71% 1.09
2029 4.50 Est @ 0.66% 0.94
Present value of next 10 years cash flows €19.00
BATS-CHIXE:AEDM DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= €4.50 × (1 + 0.53%) ÷ (16.99% – 0.53%)
€27.51
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= €27.51 ÷ (1 + 16.99%)10
€5.73
BATS-CHIXE:AEDM Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= €19.00 + €5.73
€24.73
Equity Value per Share
(EUR)
= Total value / Shares Outstanding
= €24.73 / 32.03
€1.06
BATS-CHIXE:AEDM Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in BATS-CHIXE:AEDM represents 1.36743x of BIT:AED
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
1.36743x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (EUR) x Listing Adjustment Factor
= € 1.06 x 1.36743
€1.44
Value per share (EUR) From above. €1.44
Current discount Discount to share price of €1.31
= -1 x (€1.31 - €1.44) / €1.44
9.3%

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

Current Discount
Amount off the current price Aedes SIIQ is available for.
Intrinsic value
9%
Share price is €1.31 vs Future cash flow value of €1.44
Current Discount Checks
For Aedes SIIQ to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Aedes SIIQ's share price is below the future cash flow value, but not at a moderate discount (< 20%).
  • Aedes SIIQ'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 Aedes SIIQ's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Aedes SIIQ's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
BATS-CHIXE:AEDM PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-09-30) in EUR €-0.25
BIT:AED Share Price ** BIT (2020-01-15) in EUR €0.96
United Kingdom of Great Britain and Northern Ireland REITs Industry PE Ratio Median Figure of 38 Publicly-Listed REITs Companies 12.92x
United Kingdom of Great Britain and Northern Ireland Market PE Ratio Median Figure of 748 Publicly-Listed Companies 13x

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

** Primary Listing of Aedes SIIQ.

BATS-CHIXE:AEDM PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= BIT:AED Share Price ÷ EPS (both in EUR)

= 0.96 ÷ -0.25

-3.88x

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

  • Aedes SIIQ is loss making, we can't compare its value to the GB REITs industry average.
  • Aedes SIIQ is loss making, we can't compare the value of its earnings to the United Kingdom of Great Britain and Northern Ireland market.
Price based on expected Growth
Does Aedes SIIQ's expected growth come at a high price?
Raw Data
BATS-CHIXE:AEDM PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -3.88x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
Not available
United Kingdom of Great Britain and Northern Ireland REITs Industry PEG Ratio Median Figure of 22 Publicly-Listed REITs Companies 0.67x
United Kingdom of Great Britain and Northern Ireland Market PEG Ratio Median Figure of 518 Publicly-Listed Companies 1.02x

*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 Aedes SIIQ, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Aedes SIIQ's assets?
Raw Data
BATS-CHIXE:AEDM PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-09-30) in EUR €9.06
BIT:AED Share Price * BIT (2020-01-15) in EUR €0.96
United Kingdom of Great Britain and Northern Ireland REITs Industry PB Ratio Median Figure of 54 Publicly-Listed REITs Companies 0.79x
United Kingdom of Great Britain and Northern Ireland Market PB Ratio Median Figure of 1,323 Publicly-Listed Companies 1.13x
BATS-CHIXE:AEDM PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= BIT:AED Share Price ÷ Book Value per Share (both in EUR)

= 0.96 ÷ 9.06

0.11x

* Primary Listing of Aedes SIIQ.

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

  • Aedes SIIQ is good value based on assets compared to the GB REITs industry average.
X
Value checks
We assess Aedes SIIQ'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 REITs 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 REITs industry average (and greater than 0)? (1 check)
  5. Aedes SIIQ 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.

Future Performance

 How is Aedes SIIQ 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 Aedes SIIQ 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
26.3%
Expected REITs industry annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Aedes SIIQ expected to grow at an attractive rate?
  • Unable to compare Aedes SIIQ's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare Aedes SIIQ's earnings growth to the United Kingdom of Great Britain and Northern Ireland market average as no estimate data is available.
  • Unable to compare Aedes SIIQ's revenue growth to the United Kingdom of Great Britain and Northern Ireland market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
BATS-CHIXE:AEDM Future Growth Rates Data Sources
Data Point Source Value (per year)
United Kingdom of Great Britain and Northern Ireland REITs Industry Earnings Growth Rate Market Cap Weighted Average 26.3%
United Kingdom of Great Britain and Northern Ireland REITs Industry Revenue Growth Rate Market Cap Weighted Average 5%
United Kingdom of Great Britain and Northern Ireland Market Earnings Growth Rate Market Cap Weighted Average 15.6%
United Kingdom of Great Britain and Northern Ireland Market Revenue Growth Rate Market Cap Weighted Average 2.5%

*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
BATS-CHIXE:AEDM 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.
BATS-CHIXE:AEDM Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2019-09-30 14 -10
2019-06-30 10 4 -8
2018-12-31 1 1 0
2018-09-30 0 0
2017-12-31 0 0
2016-12-31 0

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if Aedes SIIQ is high growth as no earnings estimate data is available.
  • Unable to determine if Aedes SIIQ 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
BATS-CHIXE:AEDM 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 Aedes SIIQ Company Filings, last reported 6 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

BATS-CHIXE:AEDM Past Financials Data
Date (Data in EUR Millions) EPS *
2019-09-30
2019-06-30 -0.25
2018-12-31
2018-09-30 -5.56
2017-12-31 -3.22
2016-12-31

*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 Aedes SIIQ will efficiently use shareholders’ funds in the future without estimates of Return on Equity.

Next steps:

  1. Aedes SIIQ'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 Real Estate companies here
  2. Use fundamentals to screen for another stock to analyse from our database of over 75,000 companies worldwide
X
Future performance checks
We assess Aedes SIIQ'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 United Kingdom of Great Britain and Northern Ireland market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United Kingdom of Great Britain and Northern Ireland 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.
Aedes SIIQ 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.

Past Performance

  How has Aedes SIIQ 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 Aedes SIIQ's growth in the last year to its industry (REITs).
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.
  • Aedes SIIQ does not make a profit and there is insufficient past data to establish if their 5 year on year earnings growth rate was positive.
  • Unable to compare Aedes SIIQ's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Aedes SIIQ's 1-year growth to the GB REITs industry average as it is not currently profitable.
Earnings and Revenue History
Aedes SIIQ'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 Aedes SIIQ Company Filings, last reported 6 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

BATS-CHIXE:AEDM 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 14.33 -10.19 6.41
2019-06-30 10.17 -7.91 4.36
2018-12-31 0.79 -0.27 0.05
2018-09-30 -0.28
2017-12-31 -0.16
2016-12-31 -0.01

*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.
  • It is difficult to establish if Aedes SIIQ has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if Aedes SIIQ has efficiently used its assets last year compared to the GB REITs industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if Aedes SIIQ improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Aedes SIIQ'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 REITs 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.
Aedes SIIQ 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.

Health

 How is Aedes SIIQ'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 Aedes SIIQ's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Aedes SIIQ's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Aedes SIIQ's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Aedes SIIQ'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 Aedes SIIQ Company Filings, last reported 6 months ago.

BATS-CHIXE:AEDM Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2019-09-30 287.80 195.34 10.22
2019-06-30 290.27 212.73 8.06
2018-12-31 298.32 207.03 3.58
2018-09-30 -0.08 0.00 0.01
2017-12-31 -0.12 0.00 0.02
2016-12-31 0.04 0.00 0.05
  • Aedes SIIQ's level of debt (67.9%) compared to net worth is high (greater than 40%).
  • Unable to establish if Aedes SIIQ's debt level has increased without past 5-year debt data.
  • Debt is not well covered by operating cash flow (2%, less than 20% of total debt).
  • Aedes SIIQ is making a loss, therefore interest payments are not well covered by earnings.
X
Financial health checks
We assess Aedes SIIQ'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. Aedes SIIQ has a total score of 0/6, 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 Aedes SIIQ'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
0%
Current annual income from Aedes SIIQ dividends.
If you bought €2,000 of Aedes SIIQ shares you are expected to receive €0 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?
  • Unable to evaluate Aedes SIIQ's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Aedes SIIQ's dividend against the top 25% market benchmark as the company has not reported any payouts.
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
BATS-CHIXE:AEDM 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
United Kingdom of Great Britain and Northern Ireland REITs Industry Average Dividend Yield Market Cap Weighted Average of 48 Stocks 5.1%
United Kingdom of Great Britain and Northern Ireland Market Average Dividend Yield Market Cap Weighted Average of 588 Stocks 5.5%
United Kingdom of Great Britain and Northern Ireland Minimum Threshold Dividend Yield 10th Percentile 1.3%
United Kingdom of Great Britain and Northern Ireland Bottom 25% Dividend Yield 25th Percentile 2.5%
United Kingdom of Great Britain and Northern Ireland Top 25% Dividend Yield 75th Percentile 6.9%

Industry and Market average data is calculated daily.

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

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

  • Unable to perform a dividend volatility check as Aedes SIIQ has not reported any payouts.
  • Unable to verify if Aedes SIIQ's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Aedes SIIQ's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Aedes SIIQ has not reported any payouts.
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 Aedes SIIQ's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.3%) - 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 Aedes SIIQ afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Aedes SIIQ has a total score of 0/6, 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 Aedes SIIQ'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
Joseph Roveda
AGE 57
CEO Bio

Mr. Giuseppe Roveda, also known as Joseph, has been the Chief Executive Officer of Restart SIIQ S.p.A. since December 2018, and serves as a Director. He also served as a Director of the firm in a previous stint from July 20, 2011 until April 30, 2012. Since January 2015, he has served as the Chief Executive Officer of Augusto S.p.A. and Prarosa S.p.A. He also serves as the Chief Executive Officer and Member of the Board of Directors of Aedes SIIQ S.p.A. Previously, he was a Member of the Board of Directors of Aedes BPM Real Estate SGR S.p.A. He had also served as the firm’s Chief Executive Officer since May 30, 2012. From July 2011 to April 2012, he held the position of Member of the Board of Directors of Aedes S.p.A. He has been the Chief Executive Officer of Agarp Srl since 2010. He has also served as the Chief Executive Officer of Unodueerre Srl since 2006. From 2000 to 2014 he was Chief Executive Officer of Praga Real Estate Holding SpA.

CEO Compensation
  • Insufficient data for Joseph to compare compensation growth.
  • Insufficient data for Joseph to establish whether their remuneration is reasonable compared to companies of similar size in United Kingdom of Great Britain and Northern Ireland.
Management Team

Carlo Puri Negri

TITLE
Chairman & President
AGE
67

Joseph Roveda

TITLE
CEO & Member of the Board of Directors
AGE
57

Achille Mucci

TITLE
Chief Financial Officer
AGE
56
TENURE
2.3 yrs

Gabriele Cerminara

TITLE
COO & Chief Investment Officer
AGE
45
TENURE
2.4 yrs

Silvia Rosa

TITLE
Investor Relations Officer
AGE
55
Board of Directors Tenure

Average tenure and age of the Aedes SIIQ board of directors in years:

5.3
Average Tenure
60
Average Age
  • The tenure for the Aedes SIIQ board of directors is about average.
Board of Directors

Joseph Roveda

TITLE
CEO & Member of the Board of Directors
AGE
57

Benedetto Ceglie

TITLE
VP & Member of the Board of Directors
AGE
73
TENURE
8 yrs

Carlo Puri Negri

TITLE
Chairman & President
AGE
67
TENURE
5.3 yrs

Rosanna Ricci

TITLE
Independent Member of the Board of Directors
AGE
60
TENURE
5.9 yrs

Serenella Rossano

TITLE
Independent Member of the Board of Directors
AGE
55
TENURE
4.8 yrs

Cristiano Agogliati

TITLE
Chairman of the Board of Statutory Auditors

Adriano Guarneri

TITLE
Non-Executive Member of the Board of Directors
AGE
74
TENURE
5.3 yrs

Annamaria Pontiggia

TITLE
Independent Member of the Board of Directors

Alessandro Gandolfo

TITLE
Member of the Board of Directors
AGE
43
TENURE
2.3 yrs

Giorgio Gabrielli

TITLE
Member of the Board of Directors
TENURE
1.4 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 Aedes SIIQ'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. Aedes SIIQ 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

Aedes SIIQ (MTA:AED) was created and at the same time is listed on the MTA Market of the Italian Stock Exchange, following the partial proportional demerger of Restart (a company founded in 1905 and listed on the Italian Stock Exchange since 1924) on 28 December 2018. Aedes SIIQ owns a real estate rent portfolio and development for rent portfolio in line with the strategy of a REIT with commercial purpose (Retail and Office). Sedea SIIQ S.p.A operates independently of Aedes SIIQ S.p.A. as of December 27, 2018.

Details
Name: Aedes SIIQ S.p.A.
AEDM
Exchange: BATS-CHIXE
Founded:
€30,685,069
32,030,344
Website: http://www.aedes-siiq.com
Address: Aedes SIIQ S.p.A.
Via Tortona 37,
Milan,
Milan, 20144,
Italy
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
BIT AED Share Capital Borsa Italiana IT EUR 28. Dec 2018
LSE 0A19 Share Capital London Stock Exchange GB EUR 28. Dec 2018
BATS-CHIXE AEDM Share Capital BATS 'Chi-X Europe' GB EUR 28. Dec 2018
Number of employees
Current staff
Staff numbers
0
Aedes SIIQ employees.
Industry
Diversified REITs
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/08 19:56
End of day share price update: 2020/01/15 00:00
Last earnings filing: 2019/10/30
Last earnings reported: 2019/09/30
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.