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Cofinimmo has been acquiring, developing and managing rental properties for more than 40 years. The company has a portfolio spread across Belgium, France, the Netherlands, Germany, Spain, Finland, Ireland, Italy and the United Kingdom, with a value of approximately 6.1 billion EUR. Responding to societal changes, Cofinimmo's mission is to provide high-quality care, living, and working spaces to partner-tenants that directly benefit their occupants. (Caring, Living and Working Together in Real Estate is the expression of this mission). Thanks to its expertise, Cofinimmo has assembled a healthcare real estate portfolio of approximately 4.7 billion EUR in Europe. As an independent company that applies the highest standards of corporate governance and sustainability, Cofinimmo offers its tenants services and manages its portfolio through a team of approximately 150 employees in Brussels, Paris, Breda, Frankfurt and Madrid. Cofinimmo is listed on Euronext Brussels (BEL20) and benefits from the REIT system in Belgium (RREC), in France (SIIC), in Spain (SOCIMI) and in the United Kingdom (UK-REIT). Its activities are supervised by the Financial Services and Markets Authority (FSMA), the Belgian regulator.
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| Breakdown | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
| Income before tax | - | - | 125.86M | 216.24M | 153.93M |
| Net income | - | - | 119.22M | 204.62M | 145.61M |
| Selling general administrative | - | - | 33.39M | 29.66M | 26.01M |
| Gross profit | - | - | 249.31M | 226.10M | 201.31M |
| Ebit | 235.74M | 215.22M | 185.20M | 180.26M | 171.50M |
| Operating income | - | - | 169.33M | 259.18M | 177.95M |
| Other operating expenses | 25.29M | 31.46M | 26.01M | 14.52M | 4.22M |
| Interest expense | - | 0.00M | 0.00M | 0.00M | 0.00M |
| Tax provision | - | - | 10.22M | 5.95M | 2.48M |
| Interest income | - | - | 38.01M | 38.58M | 20.21M |
| Income tax expense | 11.37M | 10.55M | 7.91M | 5.57M | 2.81M |
| Total revenue | - | - | 293.18M | 286.80M | 261.74M |
| Cost of revenue | - | - | 43.87M | 60.69M | 60.43M |
| Net income applicable to common shares | 482.94M | 260.34M | 119.22M | 204.62M | 145.61M |
| Breakdown | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
| Total assets | - | - | 5253.61M | 4558.24M | 4021.47M |
| Intangible assets | - | - | 2.17M | 0.94M | 0.92M |
| Other current assets | 155.38M | 99.50M | 56.59M | 85.64M | 78.05M |
| Total liab | - | - | 2678.84M | 2106.90M | 1939.34M |
| Total stockholder equity | - | - | 2574.78M | 2451.34M | 2082.13M |
| Other current liab | 89.68M | 115.28M | 97.74M | 84.47M | 73.93M |
| Common stock | 1761.87M | 1698.52M | 1450.21M | 1385.23M | 1230.01M |
| Retained earnings | 859.52M | 668.91M | 337.54M | 462.99M | 511.83M |
| Other liab | 99.65M | 93.92M | 81.07M | 79.35M | 79.07M |
| Good will | - | - | 46.83M | 56.95M | 71.56M |
| Other assets | 183.13M | 166.29M | 109.17M | 109.95M | 104.49M |
| Cash | - | - | 48.64M | 31.57M | 27.18M |
| Total current liabilities | 1034.94M | 1272.99M | 1186.29M | 998.36M | 714.77M |
| Short long term debt total | - | - | 1246.85M | 873.55M | 1012.29M |
| Other stockholder equity | 81.18M | -48.16M | -14.55M | -120.56M | -244.62M |
| Property plant equipment | 6084.90M | 5672.01M | 4867.02M | 4219.80M | 3695.01M |
| Total current assets | 245.38M | 191.42M | 160.03M | 160.99M | 140.45M |
| Net tangible assets | 3607.70M | 3189.16M | 2525.78M | 2393.45M | 2009.65M |
| Short term investments | - | - | - | 0.00M | - |
| Net receivables | 70.39M | 72.06M | 54.79M | 43.78M | 35.22M |
| Long term debt | - | - | 1246.85M | 873.55M | 1012.29M |
| Accounts payable | 55.91M | 46.65M | 40.28M | 38.00M | 21.73M |
| Breakdown | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 |
| Investments | - | - | -2.00M | -9.49M | -69.17M |
| Change to liabilities | - | - | -9.43M | -3.35M | 2.54M |
| Total cashflows from investing activities | - | - | -334.39M | -745.44M | -565.16M |
| Net borrowings | - | - | 301.44M | 485.33M | 525.11M |
| Total cash from financing activities | - | - | 123.72M | 516.21M | 402.70M |
| Change to operating activities | - | - | -0.63M | -4.96M | 10.39M |
| Net income | 63.89M | -55.50M | 482.94M | 260.34M | 119.22M |
| Change in cash | - | - | -0.25M | -28.79M | 17.07M |
| Total cash from operating activities | - | - | 210.42M | 200.44M | 179.53M |
| Depreciation | - | - | 1.09M | 0.59M | 0.65M |
| Other cashflows from investing activities | - | - | -0.79M | -17.09M | -16.34M |
| Dividends paid | - | - | 134.96M | 107.09M | 101.16M |
| Change to account receivables | - | - | -4.00M | -4.57M | -3.89M |
| Sale purchase of stock | - | - | - | - | 0.66M |
| Other cashflows from financing activities | - | - | -43.28M | -40.84M | -21.91M |
| Change to netincome | - | - | -259.08M | -45.84M | 57.80M |
| Capital expenditures | 0.00M | 0.00M | 1.27M | 1.52M | 1.91M |
| Change in working capital | - | - | - | - | 2.20M |
|
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Change
(GBX) |
Price
(GBX) |
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PE (x) |
Forward
PE (x) |
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TTM (x) |
Price to Book Value (x)
|
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Cofinimmo has been acquiring, developing and managing rental properties for more than 40 years. The company has a portfolio spread across Belgium, France, the Netherlands, Germany, Spain, Finland, Ireland, Italy and the United Kingdom, with a value of approximately 6.1 billion EUR. Responding to societal changes, Cofinimmo's mission is to provide high-quality care, living, and working spaces to partner-tenants that directly benefit their occupants. (Caring, Living and Working Together in Real Estate is the expression of this mission). Thanks to its expertise, Cofinimmo has assembled a healthcare real estate portfolio of approximately 4.7 billion EUR in Europe. As an independent company that applies the highest standards of corporate governance and sustainability, Cofinimmo offers its tenants services and manages its portfolio through a team of approximately 150 employees in Brussels, Paris, Breda, Frankfurt and Madrid. Cofinimmo is listed on Euronext Brussels (BEL20) and benefits from the REIT system in Belgium (RREC), in France (SIIC), in Spain (SOCIMI) and in the United Kingdom (UK-REIT). Its activities are supervised by the Financial Services and Markets Authority (FSMA), the Belgian regulator.
| Name | Title | Year Born |
|---|---|---|
| Mr. Jean-Pierre Hanin | Interim COO, MD, CEO & Director | 1966 |
| Mr. Jean Kotarakos | CFO & Exec. Director | 1973 |
| Ms. Francoise Roels | Chief of Corp. Affairs, Sec. Gen., Compliance Officer & Exec. Director | 1961 |
| Mr. Sebastien Berden | Chief Operating Officer of Healthcare | NA |
| Ms. Yeliz Bicici | Chief Operating Officer Offices & Real Estate Devel. | NA |
| Ms. Pascale Minet | Head of Accounting | NA |
| Ms. Ellen Grauls | Head of External Communication & Investor Relations | NA |
| Steven Aernoudt | Head of HR & Internal Communication | NA |
| Mr. Jean Van Buggenhout | Head of Property Services | NA |
| Mr. Domien Szeker | Head of Project Management | NA |
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