Our key figures

Key consolidated figures 1

Key figures IMMOBEL Group (MEUR)

2012 2013 2014 2015 2016
IMMOBEL SA Published
Net result, Group’s share 11.7 1.5 20 0.7 52.5
Equity, Group’s share 187.7 183.2 196.7 194.4 311
Market capitalization2 116.4 148.4 177.5 174.2 530

Figures per share2

2012 2013 2014 2015 2016
IMMOBEL SA Published
Number of shares at year-end (thousand) 4,122 4,122 4,122 4,122 9,997
Net result, Group’s share (EUR) 2.80 0.40 4.90 0.20 5.20
Value of equity (EUR) 45.60 44.40 47.70 47.20 31.10
Gross ordinary dividend (EUR) 1.40 0.00 2.40 0.00 2.00
Net ordinary dividend (EUR) 1.05 0.00 1.80 0.00 1.40
2.00 EUR
/ share gross dividend

Stock market ratios

2012 2013 2014 2015 2016
IMMOBEL SA Published
Stock price on 31 December (EUR) 28.30 36.00 43.10 42.30 53.00
Maximum quotation (EUR) 28.90 37.40 44.50 52.70 53.80
Minimum quotation (EUR) 24.20 28.40 36.50 40.10 38.20
Stock price / book value 62 % 81 % 90.30 % 89.70 % 170.40 %
Gross return for 1 year3 22 % 32 % 24.00 % 0 % 25.30 %
Gross ordinary dividend / last stock price 4.90 % 0 % 5.60 % 0 % 3.80 %
Net ordinary dividend / last stock price 3.70 % 0 % 4.20 % 0 % 2.60 %



  1. In compliance with IFRS regulations, the company has been applying the IFRS 11 standard since 1 January 2014. This standard considerably modifies the interpretation of the company’s financial statements, without nonetheless modifying net results and shareholder equity. The Board of Directors considers that the financial data before IFRS 11 provide a better picture of activities and financial statements. It is these data that are presented and compared.
  2. For 2016, including own shares (1,230,398).
  3. Gross return for 1 year : (last closing price + dividends paid during the year - first stock price for the period) / first stock price for the period

Result

Income statement (MEUR)

2012 2013 2014 2015 2016
IMMOBEL SA Published
Operating income 133.7 65.1 183.1 103.6 346.1
Operating expenses -114.3 -54.5 -151.8 -93.2 -273.4
Operating result 19.4 10.6 31.2 10.5 72.7
Financial result -6.8 -9.3 -9.6 -8.9 -5.4
Share in the results of associates 0.0 0.2 -0.2 -0.3 -2.0
Result before taxes 12.6 1.5 21.4 1.3 65.3
Income taxes -0.9 0.0 -1.4 -0.6 -11.6
Result for the year 11.7 1.5 20.0 0.7 53.6
Share of IMMOBEL 11.7 1.5 20.0 0.7 52.5

Financial position

Assets (MEUR) 2012 2013 2014 2015 2016
IMMOBEL SA Published
Non-current assets 7.7 6.5 5.0 4.6 18.5
Intangible assets and goodwill 0.0 0.1 0.2 0.2 0.1
Tangible assets and investment property 3.9 3.6 3.6 3.6 3.8
Financial assets 2.4 1.1 0.8 0.4 3.7
Other 1.4 1.7 0.5 0.5 10.9
Current assets 409.9 520.4 492.2 506.9 767.9
Inventories 359.9 464.7 423.5 456.8 584.0
Cash 26.9 31.4 32.0 24.5 128.9
Other 23.1 24.4 36.7 25.6 55.1
TOTAL ASSETS 417.6 527.0 497.2 511.6 786.4
346 MEUR
operating income in 2016

Equity and liabilities (MEUR) 2012 2013 2014 2015 2016
IMMOBEL SA Published
Equity 187.7 183.2 196.7 194.4 314.9
Non-current liabilities 136.2 152.4 166.8 156.9 324.1
Financial debts 135.5 151.5 164.5 155.0 319.0
Other 0.7 0.9 2.3 1.8 5.1
Current liabilities 93.7 191.4 133.7 160.3 147.3
Financial debts 51.8 148.8 99.4 110.4 68.4
Other 41.9 42.7 34.3 49.9 79.0
TOTAL EQUITY AND LIABILITIES 417.6 527.0 497.2 511.6 786.4

Portfolio (stocks)

584 MEUR
projects in portfolio (stocks)

SHARE PRICE EVOLUTION

DIVIDEND POLICY

In 2008 the Board of Directors adopted the following dividend policy: IMMOBEL pays out between 40 and 50% of the consolidated annual net result.

Some conditions laid down in the bond issues of December 2011 and March 2013 also provide that the company may not distribute more than 50% of its annual net result.

For the fiscal year 2016 the proposed gross dividend amounts to 2 EUR per share.

For reference, the following amounts were paid in previous years: 2.40 EUR for 2014, no dividend in 2013, 1.40 EUR in 2012, 1.75 EUR in 2011 and 1.25 EUR in 2010. In the period 2010-2016, the average gross yearly dividend amounted to 1,26 EUR gross per share.

SHAREHOLDING STRUCTURE

In accordance with of article 29 of the Law of 2 May 2007 on the disclosure of stakes held in issuers whose shares are admitted to trading on a regulated market, IMMOBEL has been informed by the following Shareholders that they hold the following shares :

SHAREHOLDERS VOTING RIGHTS % OF TOTAL SHARES
A³ CAPITAL nv + VEMACO nv + A³ MANAGEMENT bvba, all having its registered seat at 1000 Brussels, quai des Péniches 52 5,875,369 58.77 %
IMMOBEL SA, having its registered seat at 1000 Brussels 1000 Brussels, rue de la Régence 58 1,230,398 12.30 %
CAPFI DELEN ASSET MANAGEMENT NV, having its registered seat at 2020 Antwerp, Jan Van Rijswijcklaan 178 412,196 4.12 %
FREE FLOAT 2,479,393 24.81 %
Total 9,997,356 100 %

FINANCIAL CALENDAR

Publication of annual accounts 2016 23 March 2017
Ordinary General Meeting 2016 24 May 2017
Publication of 2016 half-year results 1 September 2017
Publication of 2017 annual accounts March 2018
Ordinary General Meeting 2018 24 May 2018