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Wereldhave

BATS-CHIXE:WHAA
Snowflake Description

Average dividend payer and fair value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
WHAA
BATS-CHIXE
€242M
Market Cap
  1. Home
  2. GB
  3. Real Estate
Company description

Wereldhave invests in dominant full-service centers for everyday life in larger provincial cities in northwest continental Europe. The last earnings update was 24 days ago. More info.


Add to Portfolio Compare Print
  • Wereldhave has significant price volatility in the past 3 months.
WHAA Share Price and Events
7 Day Returns
-11.6%
BATS-CHIXE:WHAA
-4.2%
GB REITs
-2.2%
GB Market
1 Year Returns
-75.3%
BATS-CHIXE:WHAA
-24.4%
GB REITs
-25.9%
GB Market
WHAA Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Wereldhave (WHAA) -11.6% -57.9% -70.6% -75.3% -85.8% -90.7%
GB REITs -4.2% -26.5% -32.1% -24.4% -23.4% -30%
GB Market -2.2% -21.7% -29.6% -25.9% -26.6% -26.2%
1 Year Return vs Industry and Market
  • WHAA underperformed the REITs industry which returned -24.4% over the past year.
  • WHAA underperformed the Market in United Kingdom of Great Britain and Northern Ireland which returned -25.9% over the past year.
Price Volatility
WHAA
Industry
5yr Volatility vs Market

Value

 Is Wereldhave 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 Wereldhave 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 Wereldhave.

BATS-CHIXE:WHAA Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity using Funds From Operations
Levered Funds From Operations Average of 5 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 4.9%
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:WHAA
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year GB Govt Bond Rate 0.5%
Equity Risk Premium S&P Global 5.4%
REITs Unlevered Beta Simply Wall St/ S&P Global 0.45
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.452 (1 + (1- 25%) (572.03%))
0.64
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.8
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.53% + (0.8 * 5.44%)
4.88%

Discounted Cash Flow Calculation for BATS-CHIXE:WHAA using 2 Stage Free Cash Flow to Equity using Funds From Operations Model

BATS-CHIXE:WHAA Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in BATS-CHIXE:WHAA represents 1.00625x of ENXTAM:WHA
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
1.00625x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (EUR) x Listing Adjustment Factor
= € 21.56 x 1.00625
€21.70
Value per share (EUR) From above. €21.70
Current discount Discount to share price of €6.04
= -1 x (€6.04 - €21.70) / €21.70
72.2%

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

Current Discount
Amount off the current price Wereldhave is available for.
Intrinsic value
>50%
Share price is €6.04 vs Future cash flow value of €21.7
Current Discount Checks
For Wereldhave to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Wereldhave's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Wereldhave'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 Wereldhave's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Wereldhave's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
BATS-CHIXE:WHAA PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in EUR €-8.18
ENXTAM:WHA Share Price ** ENXTAM (2020-04-03) in EUR €6
United Kingdom of Great Britain and Northern Ireland REITs Industry PE Ratio Median Figure of 38 Publicly-Listed REITs Companies 12.58x
United Kingdom of Great Britain and Northern Ireland Market PE Ratio Median Figure of 748 Publicly-Listed Companies 12.32x

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

** Primary Listing of Wereldhave.

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

= ENXTAM:WHA Share Price ÷ EPS (both in EUR)

= 6 ÷ -8.18

-0.73x

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

  • Wereldhave is loss making, we can't compare its value to the GB REITs industry average.
  • Wereldhave 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 Wereldhave's expected growth come at a high price?
Raw Data
BATS-CHIXE:WHAA PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -0.73x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts
65.9%per year
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 0.97x

*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 Wereldhave, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Wereldhave's assets?
Raw Data
BATS-CHIXE:WHAA PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in EUR €32.78
ENXTAM:WHA Share Price * ENXTAM (2020-04-03) in EUR €6
United Kingdom of Great Britain and Northern Ireland REITs Industry PB Ratio Median Figure of 54 Publicly-Listed REITs Companies 0.73x
United Kingdom of Great Britain and Northern Ireland Market PB Ratio Median Figure of 1,323 Publicly-Listed Companies 1.06x
BATS-CHIXE:WHAA PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= ENXTAM:WHA Share Price ÷ Book Value per Share (both in EUR)

= 6 ÷ 32.78

0.18x

* Primary Listing of Wereldhave.

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

  • Wereldhave is good value based on assets compared to the GB REITs industry average.
X
Value checks
We assess Wereldhave'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. Wereldhave 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 Wereldhave expected to perform in the next 1 to 3 years based on estimates from 5 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
65.9%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Wereldhave expected to grow at an attractive rate?
  • Wereldhave's earnings growth is expected to exceed the low risk savings rate of 0.5%.
Growth vs Market Checks
  • Wereldhave's earnings growth is expected to exceed the United Kingdom of Great Britain and Northern Ireland market average.
  • Wereldhave's revenues are expected to decrease over the next 1-3 years, this is below the United Kingdom of Great Britain and Northern Ireland market average.
Annual Growth Rates Comparison
Raw Data
BATS-CHIXE:WHAA Future Growth Rates Data Sources
Data Point Source Value (per year)
BATS-CHIXE:WHAA Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts 65.9%
BATS-CHIXE:WHAA Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 5 Analysts -12.6%
United Kingdom of Great Britain and Northern Ireland REITs Industry Earnings Growth Rate Market Cap Weighted Average 24.1%
United Kingdom of Great Britain and Northern Ireland REITs Industry Revenue Growth Rate Market Cap Weighted Average 4.8%
United Kingdom of Great Britain and Northern Ireland Market Earnings Growth Rate Market Cap Weighted Average 15.4%
United Kingdom of Great Britain and Northern Ireland Market Revenue Growth Rate Market Cap Weighted Average 2.6%

*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:WHAA Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 5 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:WHAA Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-12-31 164 82 47 4
2021-12-31 168 181 -130 4
2020-12-31 174 89 -243 4
2020-04-04
BATS-CHIXE:WHAA Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2019-12-31 241 115 -329
2019-06-30 240 131 -86
2019-03-31 236 141 -41
2018-12-31 237 152 4
2018-06-30 203 155 4
2018-03-31 215 147 26
2017-12-31 228 139 49
2017-09-30 266 125 116
2017-06-30 267 111 165
2017-03-31 268 125 133

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Wereldhave's earnings are expected to grow significantly at over 20% yearly.
  • Wereldhave's revenue is expected to decrease over the next 1-3 years, this is not considered high growth.
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:WHAA 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 5 Analyst Estimates (S&P Global) See Below

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

BATS-CHIXE:WHAA Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-12-31 1.72 2.07 1.37 2.00
2021-12-31 -3.97 -1.81 -6.55 3.00
2020-12-31 -4.32 -2.89 -5.27 3.00
2020-04-04
BATS-CHIXE:WHAA Past Financials Data
Date (Data in EUR Millions) EPS *
2019-12-31 -8.18
2019-06-30 -2.14
2019-03-31 -1.02
2018-12-31 0.10
2018-06-30 0.10
2018-03-31 0.65
2017-12-31 1.21
2017-09-30 2.90
2017-06-30 4.13
2017-03-31 3.31

*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.
  • Wereldhave is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Wereldhave'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.
Wereldhave has a total score of 3/6, 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 Wereldhave 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 Wereldhave'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.
  • Wereldhave does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
  • Unable to compare Wereldhave's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Wereldhave's 1-year growth to the GB REITs industry average as it is not currently profitable.
Earnings and Revenue History
Wereldhave'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 Wereldhave Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

BATS-CHIXE:WHAA Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 240.86 -329.25 17.10
2019-06-30 239.85 -86.01 15.93
2019-03-31 235.94 -40.97 16.44
2018-12-31 237.04 4.07 16.95
2018-06-30 202.88 3.86 16.53
2018-03-31 215.25 26.32 16.22
2017-12-31 227.62 48.79 15.91
2017-09-30 265.86 116.47 16.96
2017-06-30 267.38 165.25 17.63
2017-03-31 267.73 132.93 17.63
2016-12-31 268.08 100.62 17.63
2016-09-30 265.15 63.36 17.38
2016-06-30 262.22 26.11 17.13
2016-03-31 253.09 97.88 16.18
2015-12-31 244.57 104.14 16.26
2015-06-30 195.64 95.37 14.71
2015-03-31 173.01 12.18 14.58
2014-12-31 147.92 19.80 13.54
2014-09-30 148.74 64.09 14.59
2014-06-30 130.61 73.75 13.35
2014-03-31 129.53 84.34 13.51
2013-12-31 130.31 69.62 13.55
2013-09-30 107.78 33.40 13.56
2013-06-30 141.42 25.77 15.75

*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 Wereldhave has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if Wereldhave 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 Wereldhave 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 Wereldhave'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.
Wereldhave 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 Wereldhave'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 Wereldhave's finances.

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

BATS-CHIXE:WHAA Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 1,550.28 1,361.45 20.83
2019-06-30 1,856.06 1,316.53 26.43
2019-03-31 1,856.06 1,316.53 26.43
2018-12-31 1,975.84 1,396.97 125.93
2018-06-30 2,075.02 1,662.14 12.53
2018-03-31 2,075.02 1,662.14 12.53
2017-12-31 2,117.03 1,595.97 13.59
2017-09-30 2,117.03 1,595.97 13.59
2017-06-30 2,172.04 1,495.29 15.29
2017-03-31 2,172.04 1,495.29 15.29
2016-12-31 2,161.21 1,593.21 40.67
2016-09-30 2,161.21 1,593.21 40.67
2016-06-30 2,119.82 1,519.23 18.64
2016-03-31 2,119.82 1,519.23 18.64
2015-12-31 2,187.82 1,509.89 37.71
2015-06-30 2,223.44 1,457.83 360.50
2015-03-31 2,000.62 1,372.52 112.33
2014-12-31 1,975.96 1,250.95 119.21
2014-09-30 1,445.53 1,035.65 254.88
2014-06-30 1,428.75 946.77 122.34
2014-03-31 1,499.75 680.67 88.47
2013-12-31 1,499.75 680.67 88.47
2013-09-30
2013-06-30 1,439.05 694.88 119.21
  • Wereldhave's level of debt (87.8%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (63.4% vs 87.8% today).
  • Debt is not well covered by operating cash flow (8.4%, less than 20% of total debt).
  • Wereldhave is making a loss, therefore interest payments are not well covered by earnings.
X
Financial health checks
We assess Wereldhave'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. Wereldhave 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 Wereldhave'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
42%
Current annual income from Wereldhave dividends. Estimated to be 24.17% next year.
If you bought €2,000 of Wereldhave shares you are expected to receive €840 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?
  • Wereldhave's pays a higher dividend yield than the bottom 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (2.66%).
  • Wereldhave's dividend is above the markets top 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (7.42%).
Upcoming dividend payment

Purchase Wereldhave before the 'Ex-dividend' to receive their next dividend payment.

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
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:WHAA 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 5 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 5.4%
United Kingdom of Great Britain and Northern Ireland Market Average Dividend Yield Market Cap Weighted Average of 595 Stocks 5.7%
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 2.7%
United Kingdom of Great Britain and Northern Ireland Top 25% Dividend Yield 75th Percentile 7.4%

Industry and Market average data is calculated daily.

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

BATS-CHIXE:WHAA Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2022-12-31 1.23 3.00
2021-12-31 1.67 5.00
2020-12-31 1.30 3.00
2020-04-04
BATS-CHIXE:WHAA Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2020-03-11 2.520 32.751
2020-02-06 2.520 16.701
2019-07-26 2.520 12.802
2019-03-13 2.520 10.859
2019-02-08 2.520 9.923
2018-07-24 2.520 8.504
2018-02-02 3.080 9.595
2017-07-25 3.080 7.696
2017-03-06 3.080 7.234
2017-02-03 3.080 7.390
2016-07-21 3.080 7.312
2016-04-12 3.020 6.855
2016-02-04 3.020 6.376
2015-10-22 3.010 5.813
2015-07-24 3.000 5.700
2015-04-24 2.870 5.349
2015-02-05 2.870 4.563
2014-03-17 3.300 5.201
2014-02-06 3.300 5.454
2013-02-18 3.300 6.059
2012-08-02 4.700 10.234
2012-03-22 4.700 9.127
2012-02-13 4.700 8.143
2011-05-10 4.700 8.177
2010-05-12 4.650 6.810
2010-05-04 4.650 7.639

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 Wereldhave's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.1x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be thoroughly covered by earnings (45.4x coverage).
X
Income/ dividend checks
We assess Wereldhave'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 Wereldhave afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Wereldhave has a total score of 4/6, 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 Wereldhave'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
Matthijs Storm
COMPENSATION €637,779
TENURE AS CEO 0.7 years
CEO Bio

Mr. Matthijs Storm serves as Co-Chief Executive Officer and Director at Wereldhave Belgium since August 1, 2019. He has been Chief Executive Officer and Member of the Management Board of Wereldhave N.V. since August 1, 2019. Mr. Storm was Head of Real Estate at Kempen Capital Management N.V. since December 1, 2011. He was a Vice President and Senior Investment Analyst of Europe at ING Clarion Real Estate Securities, L.P. He joined ING Clarion Real Estate Securities, L.P in 2007 and was based in London office. He was the Head of Property Research at Fortis Bank Nederland (Holding )N.V. He served as an Equity Analyst at Fortis Securities Inc., Research Division, where he helped build a research team responsible for covering listed European real estate companies. He was Equity Analyst of BNP Paribas Fortis, Research Division. He served as Vice President and Senior Investment Analyst of Europe of CBRE Clarion Securities. He was Equity Real Estate Analyst of Kempen & Co. N.V., Research Division. Before that, Mr. Storm was an Equity Real Estate Analyst at Kempen and Company Merchant Bank in Amsterdam, Netherlands, where he covered real estate companies, located in Germany, Austria and Switzerland. He is active in EPRA and NAREIT. Mr. Storm earned a Masters in Business Economics degree from the University of Maastricht in 2003.

CEO Compensation
  • Insufficient data for Matthijs to compare compensation growth.
  • Matthijs's remuneration is about average for companies of similar size in United Kingdom of Great Britain and Northern Ireland.
Management Team Tenure

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

3.6
Average Tenure
49
Average Age
  • The tenure for the Wereldhave management team is about average.
Management Team

Matthijs Storm

TITLE
CEO & Member of the Management Board
COMPENSATION
€638K
TENURE
0.7 yrs

Dennis de Vreede

TITLE
CFO & Member of the Management Board
COMPENSATION
€567K
AGE
49
TENURE
2 yrs

Belinde Bakker

TITLE
Chief Operating Officer and Managing Director of Wereldhave Netherlands
AGE
51
TENURE
4 yrs

Ruud van Maanen

TITLE
Director of Investor Relations & Corporate Development
AGE
40

Olivier Mourrain

TITLE
Managing Director of France

Pieter Polman

TITLE
Managing Director for Netherlands
TENURE
3.4 yrs

Jeroen Piket

TITLE
Group Treasurer
AGE
54
TENURE
5.6 yrs

Kasper Deforche

TITLE
MD & CEO of Belgium
AGE
38
TENURE
3.8 yrs
Board of Directors Tenure

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

3
Average Tenure
59.5
Average Age
  • The tenure for the Wereldhave board of directors is about average.
Board of Directors

Adriaan Nühn

TITLE
Independent Chairman of the Supervisory Board
COMPENSATION
€65K
AGE
66
TENURE
3 yrs

Gert Van de Weerdhof

TITLE
Independent Vice Chairman of Supervisory Board
COMPENSATION
€49K
AGE
53

Hein Brand

TITLE
Independent Member of Supervisory Board
COMPENSATION
€48K
AGE
64
TENURE
3 yrs

Françoise Dechesne

TITLE
Independent Member of Supervisory Board
COMPENSATION
€27K
AGE
55
TENURE
0.8 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 Wereldhave'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. Wereldhave 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

Wereldhave invests in dominant full-service centers for everyday life in larger provincial cities in northwest continental Europe. The area surrounding our centres will include at least 100,000 inhabitants within 10 minutes’ travel time from the centre. We focus on shopping centres that strike a balance between convenience and shopping experience. With easy accessibility, products that cover all the daily shopping needs, a successful mix of international and local retail products and strong food anchor stores, our centres provide convenience shopping to accommodate a busy urban lifestyle as well as an ageing population. We aim for an experience that goes beyond shopping, with restaurants, kids’ playgrounds and high-quality amenities in order to attract families - and keep them with us for longer visits.

Details
Name: Wereldhave N.V.
WHAA
Exchange: BATS-CHIXE
Founded: 1930
€241,532,538
40,255,423
Website: http://www.wereldhave.com
Address: Wereldhave N.V.
WTC Schiphol, Tower A,
3rd Floor,
Schiphol,
Noord-Holland, 1118 BH,
Netherlands
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
ENXTAM WHA Ordinary Shares Euronext Amsterdam NL EUR 02. Jan 1992
OTCPK WRDE.F Ordinary Shares Pink Sheets LLC US USD 02. Jan 1992
DB WER Ordinary Shares Deutsche Boerse AG DE EUR 02. Jan 1992
LSE 0NMR Ordinary Shares London Stock Exchange GB EUR 02. Jan 1992
BATS-CHIXE WHAA Ordinary Shares BATS 'Chi-X Europe' GB EUR 02. Jan 1992
Number of employees
Current staff
Staff numbers
156
Wereldhave employees.
Industry
Retail REITs
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/04 19:45
End of day share price update: 2020/04/03 00:00
Last estimates confirmation: 2020/04/02
Last earnings filing: 2020/03/11
Last earnings reported: 2019/12/31
Last annual earnings reported: 2019/12/31


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.