Financials Covivio London S.E.

Equities

0J6V

FR0000064578

Commercial REITs

Real-time Estimate Tradegate 11:12:07 2024-06-27 am EDT 5-day change 1st Jan Change
44.64 EUR -0.87% Intraday chart for Covivio -2.48% -7.90%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 8,809 7,103 6,813 5,199 4,872 4,962 - -
Enterprise Value (EV) 1 19,029 18,153 17,785 5,199 11,797 11,318 11,329 11,418
P/E ratio 11.5 x 19.1 x 7.37 x 8.39 x -3.34 x 15.2 x 7.6 x 9.84 x
Yield 4.74% 4.78% 5.19% 6.76% 6.78% 7.58% 7.66% 7.76%
Capitalization / Revenue 9.16 x 8.19 x 11.5 x 8.57 x 7.91 x 4.65 x 4.55 x 4.43 x
EV / Revenue 19.8 x 20.9 x 29.9 x 8.57 x 19.2 x 10.6 x 10.4 x 10.2 x
EV / EBITDA 21.6 x 25.9 x 32.6 x 9.73 x 21.4 x 19.8 x 19.2 x 18 x
EV / FCF 192 x -139 x 24.8 x - - 25 x 40.9 x 45.5 x
FCF Yield 0.52% -0.72% 4.03% - - 3.99% 2.45% 2.2%
Price to Book 1.06 x 0.83 x 0.79 x 0.55 x - 0.61 x 0.62 x 0.63 x
Nbr of stocks (in thousands) 87,041 94,261 94,369 93,764 100,084 110,619 - -
Reference price 2 101.2 75.35 72.20 55.45 48.68 44.86 44.86 44.86
Announcement Date 2/13/20 2/17/21 2/22/22 2/21/23 2/15/24 - - -
1EUR in Million2EUR
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 961.3 866.8 594.6 606.8 615.6 1,067 1,092 1,120
EBITDA 1 881.7 701.8 545.6 534.3 551 571.3 590.2 635.4
EBIT 1 816.7 636.7 498 517.5 530 661.9 668.7 772.1
Operating Margin 84.96% 73.45% 83.75% 85.28% 86.09% 62.04% 61.26% 68.95%
Earnings before Tax (EBT) 1 838.8 413.9 1,014 711.8 -1,554 -497.9 150.1 -
Net income 1 747 359.8 923.6 620.7 -1,419 -41.8 569.3 506.7
Net margin 77.71% 41.51% 155.33% 102.29% -230.47% -3.92% 52.15% 45.25%
EPS 2 8.770 3.937 9.791 6.606 -14.55 2.957 5.901 4.561
Free Cash Flow 1 99.19 -130.6 716.3 - - 452 277 251
FCF margin 10.32% -15.07% 120.47% - - 42.37% 25.37% 22.42%
FCF Conversion (EBITDA) 11.25% - 131.29% - - 79.11% 46.93% 39.5%
FCF Conversion (Net income) 13.28% - 77.56% - - - 48.65% 49.54%
Dividend per Share 2 4.800 3.600 3.750 3.750 3.300 3.399 3.436 3.480
Announcement Date 2/13/20 2/17/21 2/22/22 2/21/23 2/15/24 - - -
1EUR in Million2EUR
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2019 S2 2020 S1 2020 S2 2021 S1 2021 S2 2022 S1 2022 S2 2023 S1 2023 S2 2024 S1 2024 S2 2025 S1 2025 S2
Net sales 1 479.2 268 431.6 292.8 301.8 270.1 336.7 307.7 307.9 541.2 589.1 577.4 609.7
EBITDA - - - - - - - - - - - - -
EBIT 1 - - - 248.9 249.1 261.1 - 269.6 260.4 425.8 455.5 461 474.8
Operating Margin - - - 85.01% 82.54% 96.67% - 87.62% 84.57% 78.69% 77.33% 79.83% 77.88%
Earnings before Tax (EBT) - - - - - - - - - - - - -
Net income - - - - - - - - - - - - -
Net margin - - - - - - - - - - - - -
EPS - - - - - - - - - - - - -
Dividend per Share - - - - - - - - - - - - -
Announcement Date 2/13/20 7/21/20 2/17/21 7/21/21 2/22/22 7/21/22 2/21/23 7/20/23 2/15/24 - - - -
1EUR in Million
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 10,220 11,050 10,972 - 6,925 6,356 6,366 6,455
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 11.59 x 15.74 x 20.11 x - 12.57 x 11.12 x 10.79 x 10.16 x
Free Cash Flow 1 99.2 -131 716 - - 452 277 251
ROE (net income / shareholders' equity) 9.42% 4.26% 4.62% - - 5.69% 5.75% 5.9%
ROA (Net income/ Total Assets) 2.98% 1.36% 1.48% - - 2.69% 2.71% 2.72%
Assets 1 25,053 26,552 62,566 - - -1,556 21,013 18,617
Book Value Per Share 2 95.30 91.00 91.00 101.0 - 73.90 72.00 71.20
Cash Flow per Share 2 9.710 6.760 6.900 - - 6.100 5.900 5.860
Capex 1 674 631 698 - - 843 592 157
Capex / Sales 70.14% 72.83% 117.31% - - 78.98% 54.24% 14%
Announcement Date 2/13/20 2/17/21 2/22/22 2/21/23 2/15/24 - - -
1EUR in Million2EUR
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
10
Last Close Price
44.86 EUR
Average target price
54.39 EUR
Spread / Average Target
+21.24%
Consensus

Quarterly revenue - Rate of surprise