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1. Company Snapshot

1.a. Company Description

Ascencio SA is a company incorporated under Belgian law, specialising in commercial property investments, and more specifically, supermarkets and retail parks.The Company is present in Belgium, France and Spain, respectively under the status of SIR, SIIC and SOCIMI.With its multidisciplinary team, it manages its assets and its relations with its tenant-retailers in a responsible manner, particularly with regard to sustainability.


The fair value of its portfolio amounts to approximately EUR 750 million, spread over more than 100 properties and generating rental income of around EUR 50 million a year.Ascencio SA is listed on Euronext Brussels.Its stock market capitalisation was EUR 320 million at 31 March 2023.

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1.b. Last Insights on ASCE

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1.c. Company Highlights

2. Transcript Summary

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3. NewsRoom

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (8.50%)

6. Segments

Property and Related Activities

Expected Growth: 8.5%

Ascencio SA's Property and Related Activities segment growth of 8.5% is driven by increasing demand for residential and commercial properties, fueled by economic growth, urbanization, and government incentives. Additionally, strategic partnerships, expansion into new markets, and efficient project management contribute to the segment's growth.

7. Detailed Products

Agricultural Machinery

Ascencio SA offers a wide range of agricultural machinery, including tractors, harvesters, and plows, designed to increase efficiency and productivity in farming.

Construction Equipment

Our construction equipment includes cranes, excavators, and bulldozers, built to withstand the demands of heavy construction projects.

Industrial Pumps

Ascencio SA's industrial pumps are designed for heavy-duty applications, including water treatment, oil and gas, and mining operations.

Automotive Parts

We supply a comprehensive range of automotive parts, including engines, transmissions, and suspension components, for passenger vehicles and commercial fleets.

Energy Solutions

Ascencio SA's energy solutions include solar panels, wind turbines, and energy storage systems, designed to reduce carbon footprint and increase energy independence.

8. Ascencio SA's Porter Forces

Forces Ranking

Threat Of Substitutes

The threat of substitutes for Ascencio SA is moderate, as there are some alternatives available in the market, but they are not very attractive to customers.

Bargaining Power Of Customers

The bargaining power of customers for Ascencio SA is low, as customers have limited options and the company has a strong brand presence.

Bargaining Power Of Suppliers

The bargaining power of suppliers for Ascencio SA is moderate, as the company relies on a few key suppliers, but has some flexibility in its supply chain.

Threat Of New Entrants

The threat of new entrants for Ascencio SA is high, as the market is attractive and there are low barriers to entry.

Intensity Of Rivalry

The intensity of rivalry for Ascencio SA is high, as the market is highly competitive and there are many established players.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 41.88%
Debt Cost 3.95%
Equity Weight 58.12%
Equity Cost 6.97%
WACC 5.71%
Leverage 72.06%

11. Quality Control: Ascencio SA passed 5 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Stock-Card
Wereldhave

A-Score: 7.2/10

Value: 5.7

Growth: 4.0

Quality: 6.5

Yield: 10.0

Momentum: 7.5

Volatility: 9.7

1-Year Total Return ->

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Stock-Card
Ascencio

A-Score: 7.2/10

Value: 6.1

Growth: 4.0

Quality: 7.1

Yield: 10.0

Momentum: 6.0

Volatility: 10.0

1-Year Total Return ->

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Stock-Card
Patrimoine et Commerce

A-Score: 6.8/10

Value: 4.5

Growth: 4.8

Quality: 4.9

Yield: 8.8

Momentum: 8.0

Volatility: 10.0

1-Year Total Return ->

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Stock-Card
Wereldhave Belgium

A-Score: 6.8/10

Value: 4.0

Growth: 4.2

Quality: 6.4

Yield: 10.0

Momentum: 6.0

Volatility: 10.0

1-Year Total Return ->

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Stock-Card
Frey

A-Score: 5.9/10

Value: 3.3

Growth: 5.4

Quality: 4.5

Yield: 9.4

Momentum: 3.0

Volatility: 9.7

1-Year Total Return ->

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Stock-Card
Vastned Retail

A-Score: 5.6/10

Value: 6.1

Growth: 3.7

Quality: 4.2

Yield: 10.0

Momentum: 3.0

Volatility: 6.3

1-Year Total Return ->

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Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

51.5$

Current Price

51.5$

Potential

-0.00%

Expected Cash-Flows