AI 銘柄分析 · 10年
Unibail-Rodamco-Westfield SE
URW · EUR · 分析基準日 2026-11-06
{ "thesis": "主要都市旗艦ショッピングセンターの賃料成長は底堅いが、IFRS再評価益を恒常的な配当原資とせず、2037+の従業員株式交付/市場買戻しの比例応募およびNCI帰属資金まで控除・反映した旧株主10年CFで評価", "ten_year_end_date": "2036-11-06", "scenario_probability_weighted_holder_PV_oku": 102.4199324, "initial_old_cohort_cost_oku": 136.1079985, "model_probability_weighted_margin_of_safety": -0.2475098, "expected_cashflow_stream_IRR": 0.0541157, "probability_weighted_mean_of_case_IRRs_not_equivalent_to_expected_IRR": 0.0091879, "model_decision": "割安/割高の判断は5ケースの想定k/g/維持投資に強く依存し、期中IFRS評価益と割引を重複採用しない" }
AIによるシナリオ分析です。基準日以降の出来事、株価や為替の変化は個別に確認が必要です。各数値は元の分析の単位と前提に従います。
分析の要約
{
"benefits": [
"欧州・米国の大型旗艦店にブランド力とテナント誘致力",
"9M2026商業施設同一物件賃料+3.8%、全体+4.4%、空室3.9%",
"SIIC等の法定分配規律と2026年度€5.50/株の計画"
],
"risks": [
"景気/オンライン小売/テナント賃料支払余力",
"キャップレート上昇による非現金再評価損と借入担保能力",
"JV利益が配当現金に変わらない時差",
"ハイブリッド証券は普通株帰属資本ではない",
"Westfield UTCの条件付株式発行最大260万株、未確定",
"フランスSIIC繰越分配義務€27.728億と法定利益要件",
"2026年11月6日現在のIFRS資本・純負債・自己株は未公表"
],
"accounting_unit": "All EUR amounts unless per-share in oku EUR; rates decimal",
"no_uniform_Japan_US_tax_deduction": true
}
自己株ゼロは未確認の代理仮定。2026年6月の統合後上場株数を使用し、ハイブリッド債・非支配持分を区別。2036年の表示損益は期末までの部分期間を年換算した参考推計で、評価期間外の利益は株主CFに加えない。未確定の配当権利日等を迎えた場合は実績確認まで期待リターンを保留。
事業
- model
大型商業施設を所有運営し最低保証賃料・売上連動賃料・駐車場・小売メディア・広告・施設管理とC&E収入を得る。JVは持分法利益のみ、当該JV賃料の二重連結なし。
- region
Europe and US flagships
- operational_footprint_2026Q3
内容を開く
- owned_centres
- 65
- westfield_branded_centres
- 41
- annual_customer_visits_more_than_millions
- 900
- total_portfolio_value_oku_EUR
- 495
- shopping_centre_share_of_portfolio
- 0.88
- source_id
urw_2026_q3
- asset_recycling_2026Q3
内容を開く
- original_2025_to_H1_2026_disposal_plan_completed_oku
- 22
- additional_disposals_completed_or_secured_2026_H2_oku
- 4
- additional_acquisitions_completed_or_secured_2026_H2_oku
- 4
- projects
Plaza Bonita, Winkelcentrum De Vijfhoek, San Francisco offices; Westfield Southcenter and Metropole Zličín JV partner stakes
- statuses_mixed
some closed, some only secured; do not treat all as cash completed
- source_id
urw_2026_q3
- competitive_moat
立地、集積、テナント売上データ、Westfieldブランド、賃貸契約の賃料指数連動
- sustainability_challenge
再開発・維持補修費、大型施設の交通アクセス・ESG設備投資、ECとの複合競争
- de_stapling
内容を開く
- completed
2026-06-25
- security_after
URW SE ordinary shares FR0013326246 single Euronext Paris line
- separate_old_NV_share_value_to_add
- 0
- impact_on_group_consolidation_scope
- 0
- source_id
urw_2026_h1
- Westfield_UTC
内容を開く
- asof
conditional_not_closed_asof_Nov6
- purchase_50pct_USD_millions
- 705
- max_new_shares
- 2600000
- hypothetical_fx_EURUSD
- 1.12
- forecast_complete_scenarios
- 1
base
- 2
bull
- 3
upside
- forecast_fail_scenarios
- 1
structural_stress
- 2
bear
- if_close_2026_12_21
100% consolidation of property gross income and removal of previous JV investment, purchase cash and new shares separately
- no_assumption_transaction_already_completed
- はい
競争力・事業の質
- moat_score_0_10
- 7
- financial_risk_score_0_10_higher_more_risk
- 7
- forecast_confidence_0_10
- 3.8
- uncertainty
DCF inputs are not management projections and 2036 horizon is highly speculative
- verified_metrics
内容を開く
- IFRS_LTV_2026H1
- 0.388
- net_debt_to_EBITDA_IFRS_2026H1
- 8.4
- lease_vacancy_2026_9m
- 0.039
- SBC_cash_flow_addback_H1_oku
- 0.143
- valuation_uncertainty
Non-cash fair value may dominate IFRS result; tenant sales, debt costs and refinancing affect sustainable FCF.
業界と環境
- drivers
- 1
consumer retail footfall, e-commerce substitution, CPI indexed leases, tenant mix, cap-rate sensitivity
- 2
urban planning restrictions and large development project completion
- 3
US/EU interest rates and EUR/USD/GBP FX
- EU_retail_plus_US_flagship_exposure
- はい
- risks
- 1
concentration in retail properties
- 2
lease incentives, vacancy, structural changes, ESG retrofits
- 3
joint ventures and partial control
- SIIC_law
内容を開く
- france_CGI_article_208_C
tax exempt eligible rental earnings require 95% distributed by following FY, eligible gains 70% by end of second following FY, eligible SIIC subsidiary dividends effectively 100% by following FY subject to rules
- carry_forward_obligation_2026H1_oku
- 27.728
- payment_immediately_obligatory
- いいえ
- statutory_profit_condition
URW reports carried obligation deferred until sufficient standalone statutory result
- distribution_can_be_from_share_premium
- はい
- foreign_local_tax_and_NCI
not ignored in company cashflow assumptions
- investor_withholding_tax
not modeled uniformly for Japanese or US holder; depends beneficial owner, distribution type, treaties
- 出典番号
- 1
france_siic_law
- 2
urw_2026_h1
財務・資本配分
- capital_source
issuer IFRS H1 and 10/31 share disclosure
- book_value_per_share_2026H1_approx_EUR
- 113.636764
- book_value_per_share_asof_proxy_EUR
- 117.1532661
- price_to_book_asof_proxy_only
- 0.8037335
- book_value_only_sanity_check_not_terminal
- はい
- capital_categories
内容を開く
- common_parent_equity_2026H1_oku
- 164.174
- hybrid_securities_2026H1_oku
- 14.743
- NCI_equity_2026H1_oku
- 41.034
- total_including_hybrid_NCI_2026H1_oku
- 219.951
- financial_debt
内容を開く
- IFRS_net_financial_debt_2026H1_oku
- 186.224
- financial_nominal_total_liabilities_2026H1_oku
- 214.581
- cash_2026H1_oku
- 28.357
- lease_liabilities_separate
- はい
- LTV_2026H1
- 0.388
- credit_market_2026Q3
内容を開く
- Moody_rating
Baa1 stable as of 2026-08-24
- SP_rating
BBB+ stable as of 2026-10-09
- 2026_Q3_successful_financings_oku
- 5.2
- 2028_average_cost_of_debt_management_guidance_range
- 1
- 0.028
- 2
- 0.032
- 2026_09_30_cash_oku
- 28
- source_id
urw_2026_q3
- share_instruments
内容を開く
- issued_2026_10_31
- 144549701
- treasury_unconfirmed_asof
- 未確認
- H1_stock_option_cashflow_addback_oku
- 0.143
- H1_performance_share_expense_oku
- 0.061
- H1_stock_option_expense_oku
- 0.016
- H1_retention_share_expense_oku
- 0.023
- H1_company_savings_plan_cost_oku
- 0.054
- H1_equity_reserve_for_share_based_payments_oku
- 0.143
- H1_share_issued_for_savings_plan
- 119610
- H1_options_and_vested_shares
- 994779
- 2026H1_options_in_diluted_EPS_not_all_immediately_outstanding
- はい
- share_issuance_future_uncertain
- はい
- returns
内容を開く
- already_paid_outside_forecast_dividend_EUR
- 4.5
- historical_pre_basis_dividend
内容を開く
- fiscal_year
- 2025
- dividend_per_share_EUR
- 4.5
- ex_date
2026-05-15
- ex_date_confirmed
2026-05-15
- ex_date_assumed
- 未確認
- payment_date
2026-05-19
- payment_date_confirmed
2026-05-19
- payment_date_assumed
- 未確認
- ex_date_status
historical_confirmed
- old_holder_cashflow_after_basis
- いいえ
- 出典番号
- 1
historical_dividend_exdate
- 2
urw_2026_h1
- FY2026_proposed_dividend_EUR
- 5.5
- 2027_FY2026_dividend_scenario_distributions
内容を開く
- structural_stress
- 2.5
- bear
- 4.75
- base
- 5.5
- bull
- 5.5
- upside
- 5.5
- 2027_ex_date_confirmed
- いいえ
- forecast_old_holder_policy
all_holders_proportional_tender
- buyback_asof_actual_2026
no H1 buyback cash disclosed; unknown any after June
- third_party_issuance_UTC_conditional
- はい
評価の前提と確認
- market_price_2026_11_06_EUR
- 94.16
- 時価総額（億）
- 136.1079985
- issuer_9M_IFRS_turnover_oku
- 22.28
- issuer_H1_2026_actual_parent_net_profit_oku
- 10.091
- issuer_H1_2026_IFRS_property_revaluation_oku
- 2.653
- issuer_H1_2026_JV_result_oku
- 3.284
- reference_AREPS_guidance_2026_EUR
- 1
- 9.15
- 2
- 9.3
- terminal_value_estimation
post-2036 NCI-ringfenced common FCFE perpetual stream with future stock deliveries, pro-rata buyback tenders and paid employee subscriptions solved endogenously; not market multiple
- no_NAV_or_investment_property_double_addition
- はい
- no_SE_NV_double_addition
- はい
- no_employee_share_grants_as_holder_cash_outflows
- はい
- future_SBC_delivery_no_double_count
- はい
- NCI_carrying_value_not_parent_equity_added
- はい
- JPY_USA_investor_tax_deduction
- 未確認
- investor_tax_handling
未モデル化。日本・米国投資家に一律税率を控除せず、税額ゼロを保証しない。
- terminal_also_discounted_at_fixed_10_anniversary_years
- はい
- future_2037plus_SBC_replacement_cash_and_NCI_ringfence_in_terminal
- はい
- post_terminal_2037plus_share_issuance_excluded_from_timed_cashflows
- はい
- no_future_ex_date_is_issuer_confirmed
- はい
- dated_cashflow_year_rule
(date_assumed - 2026-11-06).days / 365.25; terminal 2036-11-06 is at 10.0 calendar-anniversary years, not a dated cashflow event
- horizon_calendar_end
2036-11-06
- monetary_horizon_after_end_excluded
- はい
資本コストの前提
- 資本コスト
- 9.50%
- period
annual_effective_common_equity_required_return
- terminal_k_scenario_dependent
- はい
- risk_components
- riskfree_reference_assumed
- 0.03
- europe_retail_asset_equity_risk_premium_assumed
- 0.055
- leverage_fx_illiquidity_addon_assumed
- 0.01
- justification
9.5%は長期金融リスク・銀行借入・不動産リース変動、米ドル/ポンドに晒されるエクイティの必要収益率。市場PER逆算ではない。
事業別データ
事業別の内訳と、収録されている年度別データを確認できます。
10年のシナリオ
シナリオごとの確率、期間内の株主還元・追加負担、終価です。金額は億EUR。株主の範囲や受取時点は各分析の前提を確認してください。
| シナリオ | 確率 | 株主還元・追加負担 | 終価 |
|---|---|---|---|
| 大幅上振れ・金利低下と高稼働 | 8.0% | 138.80 | 288.37 |
| 強気・テナント生産性上昇 | 22.0% | 112.38 | 201.57 |
| 中立・着実な賃料成長 | 40.0% | 87.95 | 131.77 |
| 弱気・金利高止まり | 20.0% | 43.48 | 28.41 |
| 構造的不況・信用逼迫 | 10.0% | 12.15 | 0.00 |
大幅上振れ・金利低下と高稼働（確率 8.0%）
- growth_early
- 0.06
- growth_late
- 0.048
- rent_cost_ratio
- 0.155
- corp_cost_start
- 2.03
- corp_infl
- 0.015
- other_income_start
- 1.19
- jv_start
- 1.67
- interest_rate
- 0.025
- tax_ratio
- 0.07
- nci_ratio
- 0.022
- valuation_early
- 0.021
- valuation_late
- 0.025
- jv_valuation
- 0.017
- exit_early
- 4.2
- exit_late
- 2.6
- acquisition_annual
- 4
- maint_capex
- 2.5
- growth_capex
- 6.1
- div_dps_cap
- 未確認
- div_payout
- 0.69
- buyback_from
- 2029
- buyback_oku
- 2.1
- sbc_annual
- 0.3
- options_issue_annual
- 185000
- free_issue_annual
- 190000
- issue_price
- 99
- utc_shares
- 2400000
- utc_success
- はい
- buyback_price_growth
- 0.064
- terminal_k
- 0.084
- terminal_g
- 0.025
- fx_oci_annual
- 0.28
- fx_debt_annual
- -0.08
- working_cap_annual
- 0.12
- nci_cash
- 0.9
- dep_non_cash
- 0.52
- terminal_maintenance
- 2.95
- terminal_growth
- 3.9
確率の根拠
商業施設の稼働率・賃料、資金調達と開発に関する分析上のシナリオ確率。
強気・テナント生産性上昇（確率 22.0%）
- growth_early
- 0.041
- growth_late
- 0.033
- rent_cost_ratio
- 0.167
- corp_cost_start
- 2.09
- corp_infl
- 0.018
- other_income_start
- 1.12
- jv_start
- 1.59
- interest_rate
- 0.027
- tax_ratio
- 0.075
- nci_ratio
- 0.025
- valuation_early
- 0.015
- valuation_late
- 0.018
- jv_valuation
- 0.012
- exit_early
- 5
- exit_late
- 3.2
- acquisition_annual
- 3.6
- maint_capex
- 2.35
- growth_capex
- 5.2
- div_dps_cap
- 未確認
- div_payout
- 0.66
- buyback_from
- 2029
- buyback_oku
- 1.4
- sbc_annual
- 0.3
- options_issue_annual
- 170000
- free_issue_annual
- 180000
- issue_price
- 94
- utc_shares
- 2100000
- utc_success
- はい
- buyback_price_growth
- 0.05
- terminal_k
- 0.087
- terminal_g
- 0.022
- fx_oci_annual
- 0.17
- fx_debt_annual
- -0.03
- working_cap_annual
- 0.15
- nci_cash
- 0.85
- dep_non_cash
- 0.52
- terminal_maintenance
- 2.75
- terminal_growth
- 3.35
確率の根拠
商業施設の稼働率・賃料、資金調達と開発に関する分析上のシナリオ確率。
中立・着実な賃料成長（確率 40.0%）
- growth_early
- 0.023
- growth_late
- 0.02
- rent_cost_ratio
- 0.174
- corp_cost_start
- 2.16
- corp_infl
- 0.021
- other_income_start
- 1.07
- jv_start
- 1.53
- interest_rate
- 0.03
- tax_ratio
- 0.09
- nci_ratio
- 0.028
- valuation_early
- 0.008
- valuation_late
- 0.01
- jv_valuation
- 0.006
- exit_early
- 7
- exit_late
- 3.6
- acquisition_annual
- 2.6
- maint_capex
- 2.2
- growth_capex
- 4.4
- div_dps_cap
- 未確認
- div_payout
- 0.615
- buyback_from
- 2030
- buyback_oku
- 0.85
- sbc_annual
- 0.286
- options_issue_annual
- 145000
- free_issue_annual
- 165000
- issue_price
- 87
- utc_shares
- 1800000
- utc_success
- はい
- buyback_price_growth
- 0.025
- terminal_k
- 0.095
- terminal_g
- 0.017
- fx_oci_annual
- 0
- fx_debt_annual
- 0
- working_cap_annual
- 0.2
- nci_cash
- 0.83
- dep_non_cash
- 0.5
- terminal_maintenance
- 2.55
- terminal_growth
- 2.7
確率の根拠
商業施設の稼働率・賃料、資金調達と開発に関する分析上のシナリオ確率。
弱気・金利高止まり（確率 20.0%）
- growth_early
- -0.023
- growth_late
- 0.005
- rent_cost_ratio
- 0.2
- corp_cost_start
- 2.3
- corp_infl
- 0.026
- other_income_start
- 0.95
- jv_start
- 1.37
- interest_rate
- 0.039
- tax_ratio
- 0.125
- nci_ratio
- 0.027
- valuation_early
- -0.024
- valuation_late
- 0
- jv_valuation
- -0.012
- exit_early
- 6
- exit_late
- 3.6
- acquisition_annual
- 1
- maint_capex
- 2.6
- growth_capex
- 3.1
- div_dps_cap
- 5.2
- div_payout
- 0.51
- buyback_from
- 2100
- buyback_oku
- 0
- sbc_annual
- 0.295
- options_issue_annual
- 140000
- free_issue_annual
- 170000
- issue_price
- 78
- utc_shares
- 0
- utc_success
- いいえ
- buyback_price_growth
- -0.015
- terminal_k
- 0.115
- terminal_g
- 0.006
- fx_oci_annual
- -0.35
- fx_debt_annual
- 0.23
- working_cap_annual
- 0.5
- nci_cash
- 0.8
- dep_non_cash
- 0.5
- terminal_maintenance
- 2.85
- terminal_growth
- 2.35
確率の根拠
商業施設の稼働率・賃料、資金調達と開発に関する分析上のシナリオ確率。
事業別の前提
- 1
内容を開く
- id
consolidated
- 数量
- 1
- 価格・単価
- 22.259583903909
- 営業利益
- 15.90618325796
- 注記
賃貸収入と、物件評価・売却損益を含む営業損益の年換算参考推計。持分法損益は除く。
日付別キャッシュフロー
- 1
内容を開く
- 想定日
2026-12-15
- year
- 0.1067762
- 金額
- 0
- 単位
oku_EUR
- 種類
employee_delivery_or_subscription_review
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- いいえ
- original_event_type
employee_option_exercise
- assumed_new_shares
- 30000
- review_only_no_share_change
- はい
- display_revalidation_required
- はい
- planned_not_announced
- はい
- 2
内容を開く
- 想定日
2026-12-15
- year
- 0.1067762
- 金額
- 0
- 単位
oku_EUR
- 種類
employee_option_exercise
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- いいえ
- issued_new_shares
- 30000
- old_shares_before
- 144549701
- old_shares_after
- 144549701
- company_shares_before
- 144549701
- company_shares_after
- 144579701
- issuer_cash_proceeds_oku
- 0.0237283
- noncash_to_old_holder
- はい
- 3
内容を開く
- 想定日
2026-12-16
- year
- 0.109514
- 金額
- 0
- 単位
oku_EUR
- 種類
employee_delivery_or_subscription_review
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- いいえ
- original_event_type
sbc_cashless_share_delivery
- assumed_new_shares
- 20000
- review_only_no_share_change
- はい
- display_revalidation_required
- はい
- planned_not_announced
- はい
- 4
内容を開く
- 想定日
2026-12-16
- year
- 0.109514
- 金額
- 0
- 単位
oku_EUR
- 種類
sbc_cashless_share_delivery
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- いいえ
- issued_new_shares
- 20000
- old_shares_before
- 144549701
- old_shares_after
- 144549701
- company_shares_before
- 144579701
- company_shares_after
- 144599701
- issuer_cash_proceeds_oku
- 0
- expense_already_in_income_and_equity_reserve
- はい
- 5
内容を開く
- 想定日
2026-12-21
- year
- 0.1232033
- 金額
- 0
- 単位
oku_EUR
- 種類
UTC_closing_and_share_issue_review
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- いいえ
- transaction_conditioned
- はい
- assumed_closing
- いいえ
- assumed_new_shares
- 0
- review_only_no_share_change
- はい
- display_revalidation_required
- はい
- planned_not_announced
- はい
- 6
内容を開く
- 想定日
2027-05-14
- year
- 0.5174538
- 金額
- 0
- 単位
oku_EUR
- 種類
dividend_ex_date_review
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- いいえ
- ex_date
- 未確認
- ex_date_assumed
2027-05-14
- ex_date_confirmed
- 未確認
- payment_date_assumed
2027-05-19
- payment_date_confirmed
- 未確認
- dividend_per_share_EUR
- 4.75
- old_shares_at_ex_date
- 144549701
- company_shares_at_ex_date
- 144599701
- review_only_no_share_change
- はい
- display_revalidation_required
- はい
- planned_not_announced
- はい
- 7
内容を開く
- 想定日
2027-05-19
- year
- 0.5311431
- 金額
- 6.8661108
- 単位
oku_EUR
- 種類
ordinary_dividend
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- はい
- ex_date
- 未確認
- ex_date_assumed
2027-05-14
- ex_date_confirmed
- 未確認
- ex_date_status
assumed_unannounced
- payment_date
2027-05-19
- payment_date_assumed
2027-05-19
- payment_date_confirmed
- 未確認
- payment_date_status
assumed_unannounced
- fiscal_year
- 2026
- dividend_per_share_EUR
- 4.75
- company_cash_dividend_oku
- 6.8684858
- old_shares_at_ex_date
- 144549701
- company_shares_at_ex_date
- 144599701
- old_share_fraction_at_ex_date
- 0.9996542
- distributive_source_assumption
cash distribution; legal retained earnings or premium source not yet resolved
- date_verification_required
- はい
- 8
内容を開く
- 想定日
2027-06-01
- year
- 0.5667351
- 金額
- 0
- 単位
oku_EUR
- 種類
employee_delivery_or_subscription_review
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- いいえ
- original_event_type
employee_option_exercise_or_savings_plan
- assumed_new_shares
- 140000
- review_only_no_share_change
- はい
- display_revalidation_required
- はい
- planned_not_announced
- はい
- 9
内容を開く
- 想定日
2027-06-01
- year
- 0.5667351
- 金額
- 0
- 単位
oku_EUR
- 種類
employee_option_exercise_or_savings_plan
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- いいえ
- issued_new_shares
- 140000
- old_shares_before
- 144549701
- old_shares_after
- 144549701
- company_shares_before
- 144599701
- company_shares_after
- 144739701
- issuer_cash_proceeds_oku
- 0.1092
- noncash_to_old_holder
- はい
- 10
内容を開く
- 想定日
2027-09-15
- year
- 0.8569473
- 金額
- 0
- 単位
oku_EUR
- 種類
employee_delivery_or_subscription_review
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- いいえ
- original_event_type
sbc_cashless_share_delivery
- assumed_new_shares
- 170000
- review_only_no_share_change
- はい
- display_revalidation_required
- はい
- planned_not_announced
- はい
- 11
内容を開く
- 想定日
2027-09-15
- year
- 0.8569473
- 金額
- 0
- 単位
oku_EUR
- 種類
sbc_cashless_share_delivery
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- いいえ
- issued_new_shares
- 170000
- old_shares_before
- 144549701
- old_shares_after
- 144549701
- company_shares_before
- 144739701
- company_shares_after
- 144909701
- issuer_cash_proceeds_oku
- 0
- expense_already_in_income_and_equity_reserve
- はい
- 12
内容を開く
- 想定日
2027-11-03
- year
- 0.991102
- 金額
- 0
- 単位
oku_EUR
- 種類
buyback_schedule_review
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- いいえ
- assumed_executed
- いいえ
- planned_budget_oku
- 0
- review_only_no_share_change
- はい
- display_revalidation_required
- はい
- planned_not_announced
- はい
- 13
内容を開く
- 想定日
2028-05-15
- year
- 1.522245
- 金額
- 0
- 単位
oku_EUR
- 種類
dividend_ex_date_review
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- いいえ
- ex_date
- 未確認
- ex_date_assumed
2028-05-15
- ex_date_confirmed
- 未確認
- payment_date_assumed
2028-05-22
- payment_date_confirmed
- 未確認
- dividend_per_share_EUR
- 2.9918256
- old_shares_at_ex_date
- 144549701
- company_shares_at_ex_date
- 144909701
- review_only_no_share_change
- はい
- display_revalidation_required
- はい
- planned_not_announced
- はい
- 14
内容を開く
- 想定日
2028-05-22
- year
- 1.54141
- 金額
- 4.324675
- 単位
oku_EUR
- 種類
ordinary_dividend
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- はい
- ex_date
- 未確認
- ex_date_assumed
2028-05-15
- ex_date_confirmed
- 未確認
- ex_date_status
assumed_unannounced
- payment_date
2028-05-22
- payment_date_assumed
2028-05-22
- payment_date_confirmed
- 未確認
- payment_date_status
assumed_unannounced
- fiscal_year
- 2027
- dividend_per_share_EUR
- 2.9918256
- company_cash_dividend_oku
- 4.3354456
- old_shares_at_ex_date
- 144549701
- company_shares_at_ex_date
- 144909701
- old_share_fraction_at_ex_date
- 0.9975157
- distributive_source_assumption
cash distribution; legal retained earnings or premium source not yet resolved
- date_verification_required
- はい
- 15
内容を開く
- 想定日
2028-06-01
- year
- 1.5687885
- 金額
- 0
- 単位
oku_EUR
- 種類
employee_delivery_or_subscription_review
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- いいえ
- original_event_type
employee_option_exercise_or_savings_plan
- assumed_new_shares
- 140000
- review_only_no_share_change
- はい
- display_revalidation_required
- はい
- planned_not_announced
- はい
- 16
内容を開く
- 想定日
2028-06-01
- year
- 1.5687885
- 金額
- 0
- 単位
oku_EUR
- 種類
employee_option_exercise_or_savings_plan
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- いいえ
- issued_new_shares
- 140000
- old_shares_before
- 144549701
- old_shares_after
- 144549701
- company_shares_before
- 144909701
- company_shares_after
- 145049701
- issuer_cash_proceeds_oku
- 0.1092
- noncash_to_old_holder
- はい
- 17
内容を開く
- 想定日
2028-09-15
- year
- 1.8590007
- 金額
- 0
- 単位
oku_EUR
- 種類
employee_delivery_or_subscription_review
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- いいえ
- original_event_type
sbc_cashless_share_delivery
- assumed_new_shares
- 170000
- review_only_no_share_change
- はい
- display_revalidation_required
- はい
- planned_not_announced
- はい
- 18
内容を開く
- 想定日
2028-09-15
- year
- 1.8590007
- 金額
- 0
- 単位
oku_EUR
- 種類
sbc_cashless_share_delivery
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- いいえ
- issued_new_shares
- 170000
- old_shares_before
- 144549701
- old_shares_after
- 144549701
- company_shares_before
- 145049701
- company_shares_after
- 145219701
- issuer_cash_proceeds_oku
- 0
- expense_already_in_income_and_equity_reserve
- はい
- 19
内容を開く
- 想定日
2028-11-03
- year
- 1.9931554
- 金額
- 0
- 単位
oku_EUR
- 種類
buyback_schedule_review
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- いいえ
- assumed_executed
- いいえ
- planned_budget_oku
- 0
- review_only_no_share_change
- はい
- display_revalidation_required
- はい
- planned_not_announced
- はい
- 20
内容を開く
- 想定日
2029-05-15
- year
- 2.5215606
- 金額
- 0
- 単位
oku_EUR
- 種類
dividend_ex_date_review
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- いいえ
- ex_date
- 未確認
- ex_date_assumed
2029-05-15
- ex_date_confirmed
- 未確認
- payment_date_assumed
2029-05-21
- payment_date_confirmed
- 未確認
- dividend_per_share_EUR
- 2.8500388
- old_shares_at_ex_date
- 144549701
- company_shares_at_ex_date
- 145219701
- review_only_no_share_change
- はい
- display_revalidation_required
- はい
- planned_not_announced
- はい
- 21
内容を開く
- 想定日
2029-05-21
- year
- 2.5379877
- 金額
- 4.1197226
- 単位
oku_EUR
- 種類
ordinary_dividend
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- はい
- ex_date
- 未確認
- ex_date_assumed
2029-05-15
- ex_date_confirmed
- 未確認
- ex_date_status
assumed_unannounced
- payment_date
2029-05-21
- payment_date_assumed
2029-05-21
- payment_date_confirmed
- 未確認
- payment_date_status
assumed_unannounced
- fiscal_year
- 2028
- dividend_per_share_EUR
- 2.8500388
- company_cash_dividend_oku
- 4.1388178
- old_shares_at_ex_date
- 144549701
- company_shares_at_ex_date
- 145219701
- old_share_fraction_at_ex_date
- 0.9953863
- distributive_source_assumption
cash distribution; legal retained earnings or premium source not yet resolved
- date_verification_required
- はい
- 22
内容を開く
- 想定日
2029-06-01
- year
- 2.568104
- 金額
- 0
- 単位
oku_EUR
- 種類
employee_delivery_or_subscription_review
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- いいえ
- original_event_type
employee_option_exercise_or_savings_plan
- assumed_new_shares
- 140000
- review_only_no_share_change
- はい
- display_revalidation_required
- はい
- planned_not_announced
- はい
- 23
内容を開く
- 想定日
2029-06-01
- year
- 2.568104
- 金額
- 0
- 単位
oku_EUR
- 種類
employee_option_exercise_or_savings_plan
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- いいえ
- issued_new_shares
- 140000
- old_shares_before
- 144549701
- old_shares_after
- 144549701
- company_shares_before
- 145219701
- company_shares_after
- 145359701
- issuer_cash_proceeds_oku
- 0.1092
- noncash_to_old_holder
- はい
- 24
内容を開く
- 想定日
2029-09-15
- year
- 2.8583162
- 金額
- 0
- 単位
oku_EUR
- 種類
employee_delivery_or_subscription_review
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- いいえ
- original_event_type
sbc_cashless_share_delivery
- assumed_new_shares
- 170000
- review_only_no_share_change
- はい
- display_revalidation_required
- はい
- planned_not_announced
- はい
- 25
内容を開く
- 想定日
2029-09-15
- year
- 2.8583162
- 金額
- 0
- 単位
oku_EUR
- 種類
sbc_cashless_share_delivery
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- いいえ
- issued_new_shares
- 170000
- old_shares_before
- 144549701
- old_shares_after
- 144549701
- company_shares_before
- 145359701
- company_shares_after
- 145529701
- issuer_cash_proceeds_oku
- 0
- expense_already_in_income_and_equity_reserve
- はい
- 26
内容を開く
- 想定日
2029-11-03
- year
- 2.9924709
- 金額
- 0
- 単位
oku_EUR
- 種類
buyback_schedule_review
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- いいえ
- assumed_executed
- いいえ
- planned_budget_oku
- 0
- review_only_no_share_change
- はい
- display_revalidation_required
- はい
- planned_not_announced
- はい
- 27
内容を開く
- 想定日
2030-05-15
- year
- 3.5208761
- 金額
- 0
- 単位
oku_EUR
- 種類
dividend_ex_date_review
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- いいえ
- ex_date
- 未確認
- ex_date_assumed
2030-05-15
- ex_date_confirmed
- 未確認
- payment_date_assumed
2030-05-20
- payment_date_confirmed
- 未確認
- dividend_per_share_EUR
- 2.7351883
- old_shares_at_ex_date
- 144549701
- company_shares_at_ex_date
- 145529701
- review_only_no_share_change
- はい
- display_revalidation_required
- はい
- planned_not_announced
- はい
- 28
内容を開く
- 想定日
2030-05-20
- year
- 3.5345654
- 金額
- 3.9537064
- 単位
oku_EUR
- 種類
ordinary_dividend
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- はい
- ex_date
- 未確認
- ex_date_assumed
2030-05-15
- ex_date_confirmed
- 未確認
- ex_date_status
assumed_unannounced
- payment_date
2030-05-20
- payment_date_assumed
2030-05-20
- payment_date_confirmed
- 未確認
- payment_date_status
assumed_unannounced
- fiscal_year
- 2029
- dividend_per_share_EUR
- 2.7351883
- company_cash_dividend_oku
- 3.9805113
- old_shares_at_ex_date
- 144549701
- company_shares_at_ex_date
- 145529701
- old_share_fraction_at_ex_date
- 0.993266
- distributive_source_assumption
cash distribution; legal retained earnings or premium source not yet resolved
- date_verification_required
- はい
- 29
内容を開く
- 想定日
2030-06-01
- year
- 3.5674196
- 金額
- 0
- 単位
oku_EUR
- 種類
employee_delivery_or_subscription_review
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- いいえ
- original_event_type
employee_option_exercise_or_savings_plan
- assumed_new_shares
- 140000
- review_only_no_share_change
- はい
- display_revalidation_required
- はい
- planned_not_announced
- はい
- 30
内容を開く
- 想定日
2030-06-01
- year
- 3.5674196
- 金額
- 0
- 単位
oku_EUR
- 種類
employee_option_exercise_or_savings_plan
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- いいえ
- issued_new_shares
- 140000
- old_shares_before
- 144549701
- old_shares_after
- 144549701
- company_shares_before
- 145529701
- company_shares_after
- 145669701
- issuer_cash_proceeds_oku
- 0.1092
- noncash_to_old_holder
- はい
- 31
内容を開く
- 想定日
2030-09-15
- year
- 3.8576318
- 金額
- 0
- 単位
oku_EUR
- 種類
employee_delivery_or_subscription_review
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- いいえ
- original_event_type
sbc_cashless_share_delivery
- assumed_new_shares
- 170000
- review_only_no_share_change
- はい
- display_revalidation_required
- はい
- planned_not_announced
- はい
- 32
内容を開く
- 想定日
2030-09-15
- year
- 3.8576318
- 金額
- 0
- 単位
oku_EUR
- 種類
sbc_cashless_share_delivery
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- いいえ
- issued_new_shares
- 170000
- old_shares_before
- 144549701
- old_shares_after
- 144549701
- company_shares_before
- 145669701
- company_shares_after
- 145839701
- issuer_cash_proceeds_oku
- 0
- expense_already_in_income_and_equity_reserve
- はい
- 33
内容を開く
- 想定日
2030-11-03
- year
- 3.9917864
- 金額
- 0
- 単位
oku_EUR
- 種類
buyback_schedule_review
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- いいえ
- assumed_executed
- いいえ
- planned_budget_oku
- 0
- review_only_no_share_change
- はい
- display_revalidation_required
- はい
- planned_not_announced
- はい
- 34
内容を開く
- 想定日
2031-05-15
- year
- 4.5201916
- 金額
- 0
- 単位
oku_EUR
- 種類
dividend_ex_date_review
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- いいえ
- ex_date
- 未確認
- ex_date_assumed
2031-05-15
- ex_date_confirmed
- 未確認
- payment_date_assumed
2031-05-20
- payment_date_confirmed
- 未確認
- dividend_per_share_EUR
- 2.7793086
- old_shares_at_ex_date
- 144549701
- company_shares_at_ex_date
- 145839701
- review_only_no_share_change
- はい
- display_revalidation_required
- はい
- planned_not_announced
- はい
- 35
内容を開く
- 想定日
2031-05-20
- year
- 4.5338809
- 金額
- 4.0174823
- 単位
oku_EUR
- 種類
ordinary_dividend
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- はい
- ex_date
- 未確認
- ex_date_assumed
2031-05-15
- ex_date_confirmed
- 未確認
- ex_date_status
assumed_unannounced
- payment_date
2031-05-20
- payment_date_assumed
2031-05-20
- payment_date_confirmed
- 未確認
- payment_date_status
assumed_unannounced
- fiscal_year
- 2030
- dividend_per_share_EUR
- 2.7793086
- company_cash_dividend_oku
- 4.0533354
- old_shares_at_ex_date
- 144549701
- company_shares_at_ex_date
- 145839701
- old_share_fraction_at_ex_date
- 0.9911547
- distributive_source_assumption
cash distribution; legal retained earnings or premium source not yet resolved
- date_verification_required
- はい
- 36
内容を開く
- 想定日
2031-06-01
- year
- 4.5667351
- 金額
- 0
- 単位
oku_EUR
- 種類
employee_delivery_or_subscription_review
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- いいえ
- original_event_type
employee_option_exercise_or_savings_plan
- assumed_new_shares
- 140000
- review_only_no_share_change
- はい
- display_revalidation_required
- はい
- planned_not_announced
- はい
- 37
内容を開く
- 想定日
2031-06-01
- year
- 4.5667351
- 金額
- 0
- 単位
oku_EUR
- 種類
employee_option_exercise_or_savings_plan
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- いいえ
- issued_new_shares
- 140000
- old_shares_before
- 144549701
- old_shares_after
- 144549701
- company_shares_before
- 145839701
- company_shares_after
- 145979701
- issuer_cash_proceeds_oku
- 0.1092
- noncash_to_old_holder
- はい
- 38
内容を開く
- 想定日
2031-09-15
- year
- 4.8569473
- 金額
- 0
- 単位
oku_EUR
- 種類
employee_delivery_or_subscription_review
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- いいえ
- original_event_type
sbc_cashless_share_delivery
- assumed_new_shares
- 170000
- review_only_no_share_change
- はい
- display_revalidation_required
- はい
- planned_not_announced
- はい
- 39
内容を開く
- 想定日
2031-09-15
- year
- 4.8569473
- 金額
- 0
- 単位
oku_EUR
- 種類
sbc_cashless_share_delivery
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- いいえ
- issued_new_shares
- 170000
- old_shares_before
- 144549701
- old_shares_after
- 144549701
- company_shares_before
- 145979701
- company_shares_after
- 146149701
- issuer_cash_proceeds_oku
- 0
- expense_already_in_income_and_equity_reserve
- はい
- 40
内容を開く
- 想定日
2031-11-03
- year
- 4.991102
- 金額
- 0
- 単位
oku_EUR
- 種類
buyback_schedule_review
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- いいえ
- assumed_executed
- いいえ
- planned_budget_oku
- 0
- review_only_no_share_change
- はい
- display_revalidation_required
- はい
- planned_not_announced
- はい
- 41
内容を開く
- 想定日
2032-05-14
- year
- 5.5195072
- 金額
- 0
- 単位
oku_EUR
- 種類
dividend_ex_date_review
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- いいえ
- ex_date
- 未確認
- ex_date_assumed
2032-05-14
- ex_date_confirmed
- 未確認
- payment_date_assumed
2032-05-19
- payment_date_confirmed
- 未確認
- dividend_per_share_EUR
- 2.7868925
- old_shares_at_ex_date
- 144549701
- company_shares_at_ex_date
- 146149701
- review_only_no_share_change
- はい
- display_revalidation_required
- はい
- planned_not_announced
- はい
- 42
内容を開く
- 想定日
2032-05-19
- year
- 5.5331964
- 金額
- 4.0284448
- 単位
oku_EUR
- 種類
ordinary_dividend
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- はい
- ex_date
- 未確認
- ex_date_assumed
2032-05-14
- ex_date_confirmed
- 未確認
- ex_date_status
assumed_unannounced
- payment_date
2032-05-19
- payment_date_assumed
2032-05-19
- payment_date_confirmed
- 未確認
- payment_date_status
assumed_unannounced
- fiscal_year
- 2031
- dividend_per_share_EUR
- 2.7868925
- company_cash_dividend_oku
- 4.073035
- old_shares_at_ex_date
- 144549701
- company_shares_at_ex_date
- 146149701
- old_share_fraction_at_ex_date
- 0.9890523
- distributive_source_assumption
cash distribution; legal retained earnings or premium source not yet resolved
- date_verification_required
- はい
- 43
内容を開く
- 想定日
2032-06-01
- year
- 5.5687885
- 金額
- 0
- 単位
oku_EUR
- 種類
employee_delivery_or_subscription_review
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- いいえ
- original_event_type
employee_option_exercise_or_savings_plan
- assumed_new_shares
- 140000
- review_only_no_share_change
- はい
- display_revalidation_required
- はい
- planned_not_announced
- はい
- 44
内容を開く
- 想定日
2032-06-01
- year
- 5.5687885
- 金額
- 0
- 単位
oku_EUR
- 種類
employee_option_exercise_or_savings_plan
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- いいえ
- issued_new_shares
- 140000
- old_shares_before
- 144549701
- old_shares_after
- 144549701
- company_shares_before
- 146149701
- company_shares_after
- 146289701
- issuer_cash_proceeds_oku
- 0.1092
- noncash_to_old_holder
- はい
- 45
内容を開く
- 想定日
2032-09-15
- year
- 5.8590007
- 金額
- 0
- 単位
oku_EUR
- 種類
employee_delivery_or_subscription_review
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- いいえ
- original_event_type
sbc_cashless_share_delivery
- assumed_new_shares
- 170000
- review_only_no_share_change
- はい
- display_revalidation_required
- はい
- planned_not_announced
- はい
- 46
内容を開く
- 想定日
2032-09-15
- year
- 5.8590007
- 金額
- 0
- 単位
oku_EUR
- 種類
sbc_cashless_share_delivery
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- いいえ
- issued_new_shares
- 170000
- old_shares_before
- 144549701
- old_shares_after
- 144549701
- company_shares_before
- 146289701
- company_shares_after
- 146459701
- issuer_cash_proceeds_oku
- 0
- expense_already_in_income_and_equity_reserve
- はい
- 47
内容を開く
- 想定日
2032-11-03
- year
- 5.9931554
- 金額
- 0
- 単位
oku_EUR
- 種類
buyback_schedule_review
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- いいえ
- assumed_executed
- いいえ
- planned_budget_oku
- 0
- review_only_no_share_change
- はい
- display_revalidation_required
- はい
- planned_not_announced
- はい
- 48
内容を開く
- 想定日
2033-05-13
- year
- 6.5160849
- 金額
- 0
- 単位
oku_EUR
- 種類
dividend_ex_date_review
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- いいえ
- ex_date
- 未確認
- ex_date_assumed
2033-05-13
- ex_date_confirmed
- 未確認
- payment_date_assumed
2033-05-18
- payment_date_confirmed
- 未確認
- dividend_per_share_EUR
- 2.7924882
- old_shares_at_ex_date
- 144549701
- company_shares_at_ex_date
- 146459701
- review_only_no_share_change
- はい
- display_revalidation_required
- はい
- planned_not_announced
- はい
- 49
内容を開く
- 想定日
2033-05-18
- year
- 6.5297741
- 金額
- 4.0365333
- 単位
oku_EUR
- 種類
ordinary_dividend
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- はい
- ex_date
- 未確認
- ex_date_assumed
2033-05-13
- ex_date_confirmed
- 未確認
- ex_date_status
assumed_unannounced
- payment_date
2033-05-18
- payment_date_assumed
2033-05-18
- payment_date_confirmed
- 未確認
- payment_date_status
assumed_unannounced
- fiscal_year
- 2032
- dividend_per_share_EUR
- 2.7924882
- company_cash_dividend_oku
- 4.0898698
- old_shares_at_ex_date
- 144549701
- company_shares_at_ex_date
- 146459701
- old_share_fraction_at_ex_date
- 0.9869589
- distributive_source_assumption
cash distribution; legal retained earnings or premium source not yet resolved
- date_verification_required
- はい
- 50
内容を開く
- 想定日
2033-06-01
- year
- 6.568104
- 金額
- 0
- 単位
oku_EUR
- 種類
employee_delivery_or_subscription_review
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- いいえ
- original_event_type
employee_option_exercise_or_savings_plan
- assumed_new_shares
- 140000
- review_only_no_share_change
- はい
- display_revalidation_required
- はい
- planned_not_announced
- はい
- 51
内容を開く
- 想定日
2033-06-01
- year
- 6.568104
- 金額
- 0
- 単位
oku_EUR
- 種類
employee_option_exercise_or_savings_plan
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- いいえ
- issued_new_shares
- 140000
- old_shares_before
- 144549701
- old_shares_after
- 144549701
- company_shares_before
- 146459701
- company_shares_after
- 146599701
- issuer_cash_proceeds_oku
- 0.1092
- noncash_to_old_holder
- はい
- 52
内容を開く
- 想定日
2033-09-15
- year
- 6.8583162
- 金額
- 0
- 単位
oku_EUR
- 種類
employee_delivery_or_subscription_review
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- いいえ
- original_event_type
sbc_cashless_share_delivery
- assumed_new_shares
- 170000
- review_only_no_share_change
- はい
- display_revalidation_required
- はい
- planned_not_announced
- はい
- 53
内容を開く
- 想定日
2033-09-15
- year
- 6.8583162
- 金額
- 0
- 単位
oku_EUR
- 種類
sbc_cashless_share_delivery
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- いいえ
- issued_new_shares
- 170000
- old_shares_before
- 144549701
- old_shares_after
- 144549701
- company_shares_before
- 146599701
- company_shares_after
- 146769701
- issuer_cash_proceeds_oku
- 0
- expense_already_in_income_and_equity_reserve
- はい
- 54
内容を開く
- 想定日
2033-11-03
- year
- 6.9924709
- 金額
- 0
- 単位
oku_EUR
- 種類
buyback_schedule_review
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- いいえ
- assumed_executed
- いいえ
- planned_budget_oku
- 0
- review_only_no_share_change
- はい
- display_revalidation_required
- はい
- planned_not_announced
- はい
- 55
内容を開く
- 想定日
2034-05-15
- year
- 7.5208761
- 金額
- 0
- 単位
oku_EUR
- 種類
dividend_ex_date_review
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- いいえ
- ex_date
- 未確認
- ex_date_assumed
2034-05-15
- ex_date_confirmed
- 未確認
- payment_date_assumed
2034-05-22
- payment_date_confirmed
- 未確認
- dividend_per_share_EUR
- 2.796621
- old_shares_at_ex_date
- 144549701
- company_shares_at_ex_date
- 146769701
- review_only_no_share_change
- はい
- display_revalidation_required
- はい
- planned_not_announced
- はい
- 56
内容を開く
- 想定日
2034-05-22
- year
- 7.5400411
- 金額
- 4.0425073
- 単位
oku_EUR
- 種類
ordinary_dividend
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- はい
- ex_date
- 未確認
- ex_date_assumed
2034-05-15
- ex_date_confirmed
- 未確認
- ex_date_status
assumed_unannounced
- payment_date
2034-05-22
- payment_date_assumed
2034-05-22
- payment_date_confirmed
- 未確認
- payment_date_status
assumed_unannounced
- fiscal_year
- 2033
- dividend_per_share_EUR
- 2.796621
- company_cash_dividend_oku
- 4.1045923
- old_shares_at_ex_date
- 144549701
- company_shares_at_ex_date
- 146769701
- old_share_fraction_at_ex_date
- 0.9848743
- distributive_source_assumption
cash distribution; legal retained earnings or premium source not yet resolved
- date_verification_required
- はい
- 57
内容を開く
- 想定日
2034-06-01
- year
- 7.5674196
- 金額
- 0
- 単位
oku_EUR
- 種類
employee_delivery_or_subscription_review
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- いいえ
- original_event_type
employee_option_exercise_or_savings_plan
- assumed_new_shares
- 140000
- review_only_no_share_change
- はい
- display_revalidation_required
- はい
- planned_not_announced
- はい
- 58
内容を開く
- 想定日
2034-06-01
- year
- 7.5674196
- 金額
- 0
- 単位
oku_EUR
- 種類
employee_option_exercise_or_savings_plan
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- いいえ
- issued_new_shares
- 140000
- old_shares_before
- 144549701
- old_shares_after
- 144549701
- company_shares_before
- 146769701
- company_shares_after
- 146909701
- issuer_cash_proceeds_oku
- 0.1092
- noncash_to_old_holder
- はい
- 59
内容を開く
- 想定日
2034-09-15
- year
- 7.8576318
- 金額
- 0
- 単位
oku_EUR
- 種類
employee_delivery_or_subscription_review
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- いいえ
- original_event_type
sbc_cashless_share_delivery
- assumed_new_shares
- 170000
- review_only_no_share_change
- はい
- display_revalidation_required
- はい
- planned_not_announced
- はい
- 60
内容を開く
- 想定日
2034-09-15
- year
- 7.8576318
- 金額
- 0
- 単位
oku_EUR
- 種類
sbc_cashless_share_delivery
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- いいえ
- issued_new_shares
- 170000
- old_shares_before
- 144549701
- old_shares_after
- 144549701
- company_shares_before
- 146909701
- company_shares_after
- 147079701
- issuer_cash_proceeds_oku
- 0
- expense_already_in_income_and_equity_reserve
- はい
- 61
内容を開く
- 想定日
2034-11-03
- year
- 7.9917864
- 金額
- 0
- 単位
oku_EUR
- 種類
buyback_schedule_review
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- いいえ
- assumed_executed
- いいえ
- planned_budget_oku
- 0
- review_only_no_share_change
- はい
- display_revalidation_required
- はい
- planned_not_announced
- はい
- 62
内容を開く
- 想定日
2035-05-15
- year
- 8.5201916
- 金額
- 0
- 単位
oku_EUR
- 種類
dividend_ex_date_review
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- いいえ
- ex_date
- 未確認
- ex_date_assumed
2035-05-15
- ex_date_confirmed
- 未確認
- payment_date_assumed
2035-05-21
- payment_date_confirmed
- 未確認
- dividend_per_share_EUR
- 2.7992499
- old_shares_at_ex_date
- 144549701
- company_shares_at_ex_date
- 147079701
- review_only_no_share_change
- はい
- display_revalidation_required
- はい
- planned_not_announced
- はい
- 63
内容を開く
- 想定日
2035-05-21
- year
- 8.5366188
- 金額
- 4.0463073
- 単位
oku_EUR
- 種類
ordinary_dividend
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- はい
- ex_date
- 未確認
- ex_date_assumed
2035-05-15
- ex_date_confirmed
- 未確認
- ex_date_status
assumed_unannounced
- payment_date
2035-05-21
- payment_date_assumed
2035-05-21
- payment_date_confirmed
- 未確認
- payment_date_status
assumed_unannounced
- fiscal_year
- 2034
- dividend_per_share_EUR
- 2.7992499
- company_cash_dividend_oku
- 4.1171284
- old_shares_at_ex_date
- 144549701
- company_shares_at_ex_date
- 147079701
- old_share_fraction_at_ex_date
- 0.9827984
- distributive_source_assumption
cash distribution; legal retained earnings or premium source not yet resolved
- date_verification_required
- はい
- 64
内容を開く
- 想定日
2035-06-01
- year
- 8.5667351
- 金額
- 0
- 単位
oku_EUR
- 種類
employee_delivery_or_subscription_review
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- いいえ
- original_event_type
employee_option_exercise_or_savings_plan
- assumed_new_shares
- 140000
- review_only_no_share_change
- はい
- display_revalidation_required
- はい
- planned_not_announced
- はい
- 65
内容を開く
- 想定日
2035-06-01
- year
- 8.5667351
- 金額
- 0
- 単位
oku_EUR
- 種類
employee_option_exercise_or_savings_plan
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- いいえ
- issued_new_shares
- 140000
- old_shares_before
- 144549701
- old_shares_after
- 144549701
- company_shares_before
- 147079701
- company_shares_after
- 147219701
- issuer_cash_proceeds_oku
- 0.1092
- noncash_to_old_holder
- はい
- 66
内容を開く
- 想定日
2035-09-15
- year
- 8.8569473
- 金額
- 0
- 単位
oku_EUR
- 種類
employee_delivery_or_subscription_review
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- いいえ
- original_event_type
sbc_cashless_share_delivery
- assumed_new_shares
- 170000
- review_only_no_share_change
- はい
- display_revalidation_required
- はい
- planned_not_announced
- はい
- 67
内容を開く
- 想定日
2035-09-15
- year
- 8.8569473
- 金額
- 0
- 単位
oku_EUR
- 種類
sbc_cashless_share_delivery
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- いいえ
- issued_new_shares
- 170000
- old_shares_before
- 144549701
- old_shares_after
- 144549701
- company_shares_before
- 147219701
- company_shares_after
- 147389701
- issuer_cash_proceeds_oku
- 0
- expense_already_in_income_and_equity_reserve
- はい
- 68
内容を開く
- 想定日
2035-11-03
- year
- 8.991102
- 金額
- 0
- 単位
oku_EUR
- 種類
buyback_schedule_review
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- いいえ
- assumed_executed
- いいえ
- planned_budget_oku
- 0
- review_only_no_share_change
- はい
- display_revalidation_required
- はい
- planned_not_announced
- はい
- 69
内容を開く
- 想定日
2036-05-15
- year
- 9.522245
- 金額
- 0
- 単位
oku_EUR
- 種類
dividend_ex_date_review
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- いいえ
- ex_date
- 未確認
- ex_date_assumed
2036-05-15
- ex_date_confirmed
- 未確認
- payment_date_assumed
2036-05-20
- payment_date_confirmed
- 未確認
- dividend_per_share_EUR
- 2.8003231
- old_shares_at_ex_date
- 144549701
- company_shares_at_ex_date
- 147389701
- review_only_no_share_change
- はい
- display_revalidation_required
- はい
- planned_not_announced
- はい
- 70
内容を開く
- 想定日
2036-05-20
- year
- 9.5359343
- 金額
- 4.0478586
- 単位
oku_EUR
- 種類
ordinary_dividend
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- はい
- ex_date
- 未確認
- ex_date_assumed
2036-05-15
- ex_date_confirmed
- 未確認
- ex_date_status
assumed_unannounced
- payment_date
2036-05-20
- payment_date_assumed
2036-05-20
- payment_date_confirmed
- 未確認
- payment_date_status
assumed_unannounced
- fiscal_year
- 2035
- dividend_per_share_EUR
- 2.8003231
- company_cash_dividend_oku
- 4.1273878
- old_shares_at_ex_date
- 144549701
- company_shares_at_ex_date
- 147389701
- old_share_fraction_at_ex_date
- 0.9807314
- distributive_source_assumption
cash distribution; legal retained earnings or premium source not yet resolved
- date_verification_required
- はい
- 71
内容を開く
- 想定日
2036-06-01
- year
- 9.5687885
- 金額
- 0
- 単位
oku_EUR
- 種類
employee_delivery_or_subscription_review
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- いいえ
- original_event_type
employee_option_exercise_or_savings_plan
- assumed_new_shares
- 140000
- review_only_no_share_change
- はい
- display_revalidation_required
- はい
- planned_not_announced
- はい
- 72
内容を開く
- 想定日
2036-06-01
- year
- 9.5687885
- 金額
- 0
- 単位
oku_EUR
- 種類
employee_option_exercise_or_savings_plan
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- いいえ
- issued_new_shares
- 140000
- old_shares_before
- 144549701
- old_shares_after
- 144549701
- company_shares_before
- 147389701
- company_shares_after
- 147529701
- issuer_cash_proceeds_oku
- 0.1092
- noncash_to_old_holder
- はい
- 73
内容を開く
- 想定日
2036-09-15
- year
- 9.8590007
- 金額
- 0
- 単位
oku_EUR
- 種類
employee_delivery_or_subscription_review
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- いいえ
- original_event_type
sbc_cashless_share_delivery
- assumed_new_shares
- 170000
- review_only_no_share_change
- はい
- display_revalidation_required
- はい
- planned_not_announced
- はい
- 74
内容を開く
- 想定日
2036-09-15
- year
- 9.8590007
- 金額
- 0
- 単位
oku_EUR
- 種類
sbc_cashless_share_delivery
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- いいえ
- issued_new_shares
- 170000
- old_shares_before
- 144549701
- old_shares_after
- 144549701
- company_shares_before
- 147529701
- company_shares_after
- 147699701
- issuer_cash_proceeds_oku
- 0
- expense_already_in_income_and_equity_reserve
- はい
- 75
内容を開く
- 想定日
2036-11-03
- year
- 9.9931554
- 金額
- 0
- 単位
oku_EUR
- 種類
buyback_schedule_review
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- いいえ
- assumed_executed
- いいえ
- planned_budget_oku
- 0
- review_only_no_share_change
- はい
- display_revalidation_required
- はい
- planned_not_announced
- はい
その他の数値・前提
- 状態
all_forward_projection_explicit_assumption
- assumptions
内容を開く
- growth_early
- -0.023
- growth_late
- 0.005
- rent_cost_ratio
- 0.2
- corp_cost_start
- 2.3
- corp_infl
- 0.026
- other_income_start
- 0.95
- jv_start
- 1.37
- interest_rate
- 0.039
- tax_ratio
- 0.125
- nci_ratio
- 0.027
- valuation_early
- -0.024
- valuation_late
- 0
- jv_valuation
- -0.012
- exit_early
- 6
- exit_late
- 3.6
- acquisition_annual
- 1
- maint_capex
- 2.6
- growth_capex
- 3.1
- div_dps_cap
- 5.2
- div_payout
- 0.51
- buyback_from
- 2100
- buyback_oku
- 0
- sbc_annual
- 0.295
- options_issue_annual
- 140000
- free_issue_annual
- 170000
- issue_price
- 78
- utc_shares
- 0
- utc_success
- いいえ
- buyback_price_growth
- -0.015
- terminal_k
- 0.115
- terminal_g
- 0.006
- fx_oci_annual
- -0.35
- fx_debt_annual
- 0.23
- working_cap_annual
- 0.5
- nci_cash
- 0.8
- dep_non_cash
- 0.5
- terminal_maintenance
- 2.85
- terminal_growth
- 2.35
- partial_2026_11_06_to_2026_12_31
内容を開く
- calendar_year
- 2026
- 状態
forecast_assumption_unreported
- 開始日
2026-11-06
- 終了日
2026-12-31
- days_after_basis_in_period
- 55
- calendar_days_in_year
- 365
- period_fraction
- 0.1506849
- is_partial_period
- はい
- ifrs_consolidation_scope
fully_consolidated_gross_rental_income;equity_method_JV_profit_only_not_JV_gross_rent
- gross_rental_income_oku
- 3.4732877
- rental_operating_costs_including_service_net_oku
- 0.6946575
- net_rental_income_oku
- 2.7786301
- other_services_and_development_net_oku
- 0.1431507
- JV_equity_method_recurring_income_oku
- 0.2064384
- JV_equity_method_property_valuation_gain_loss_oku
- -0.1308337
- corporate_expenses_including_SBC_oku
- 0.3465753
- SBC_expense_already_in_corporate_oku
- 0.0444521
- financing_expenses_net_oku
- 1.0926219
- income_tax_expense_oku
- 0.2111277
- external_NCI_recurring_result_oku
- 0.0399031
- recurring_parent_profit_oku
- 1.4379911
- consolidated_property_FV_gain_loss_non_cash_oku
- -1.334473
- property_disposal_realized_gain_loss_oku
- -0.0226027
- finance_derivatives_FV_gain_loss_non_cash_oku
- 0
- IFRS_style_parent_profit_after_SBC_oku
- -0.0499183
- property_disposal_proceeds_oku
- 0.9041096
- property_disposal_book_value_oku
- 0.9267123
- ordinary_maintenance_capex_oku
- 0.3917808
- property_development_growth_capex_oku
- 0.4671233
- property_acquisition_cash_including_UTC_oku
- 0.1506849
- JV_cash_dividend_inflow_oku
- 0.2019178
- external_NCI_cash_distributions_oku
- 0.1205479
- consolidated_earnings_to_cash_before_capex_oku
- 1.5178257
- cash_from_operations_after_NCI_distributions_oku
- 1.3972778
- hybrid_coupon_paid_oku
- 0.1084932
- FCF_before_disposals_acquisitions_and_holder_payouts_oku
- 0.4298805
- working_capital_use_oku
- 0.0753425
- depreciation_addback_oku
- 0.0753425
- company_dividend_cash_paid_oku
- 0
- company_buybacks_cash_spent_oku
- 0
- share_subscription_cash_inflow_oku
- 0.0237283
- UTC_new_shares_non_cash_consideration_oku
- 0
- UTC_JV_ownership_reclassification_value_oku
- 0
- company_total_new_employee_shares
- 50000
- company_employee_cash_issued_shares
- 30000
- SBC_cashless_new_shares
- 20000
- UTC_new_shares
- 0
- company_repurchased_and_cancelled_shares
- 0
- old_holder_tendered_shares
- 0
- parent_equity_start_oku
- 169.3446959
- parent_equity_end_oku
- 169.201725
- parent_equity_reconciliation_oku
- 0
- OCI_FX_to_parent_equity_oku
- -0.0527397
- net_financial_debt_start_oku
- 185.924
- net_financial_debt_end_oku
- 184.751624
- FX_remeasurement_of_financial_net_debt_oku
- 0.0346575
- debt_change_reconciliation_oku
- 0
- IFRS_investment_properties_proxy_oku
- 367.7451298
- equity_method_JV_carrying_proxy_oku
- 72.2286868
- external_NCI_equity_proxy_oku
- 41.1522251
- external_NCI_equity_start_oku
- 41.2460548
- external_NCI_profit_retained_not_common_oku
- -0.0806448
- external_NCI_valuation_allocation_oku
- 0
- external_NCI_FX_OCI_oku
- -0.0131849
- external_NCI_payout_ratio_to_recurring_earnings
- 3.0210137
- external_NCI_equity_reconciliation_oku
- 0
- hybrid_equity_proxy_oku
- 14.743
- assumed_cash_buffer_proxy_oku
- 28.357
- gross_nominal_financial_liabilities_proxy_oku
- 213.108624
- other_nonfinancial_liabilities_proxy_oku
- 69.6036315
- total_liabilities_proxy_oku
- 282.7122555
- total_assets_balancing_proxy_oku
- 507.8092056
- other_assets_balancing_residual_oku
- 67.835389
- balance_sheet_identity_residual_oku
- 0
- issued_shares_at_period_start
- 144549701
- issued_shares_at_period_end
- 144599701
- old_cohort_shares_at_period_start
- 144549701
- old_cohort_shares_at_period_end
- 144549701
- old_cohort_ownership_at_period_end
- 0.9996542
- dividend_per_share_EUR_paid_in_period
- 0
- old_holder_dividend_cash_oku
- 0
- old_holder_buyback_tender_cash_oku
- 0
- old_holder_cash_payout_in_period_oku
- 0
- debt_to_consolidated_property_and_JV_proxy
- 0.419915
- source_or_assumptions
内容を開く
- GRI
9M2026 IFRS reported EUR1,727Mn annualized to EUR2,303Mn; model EUR2,305Mn FY2026; scenario occupancy/rent/disposal rates, UTC consolidation assumed; not company guidance
- SBC
2026H1 cash-flow add-back EUR14.3Mn, expense included in G&A forecast
- IFRS_parent
modelled recurring+FV+JV_FV+disposal gain; not published financial statements
- balance_sheet
cash buffer, nominal debt and other liability estimates; not IFRS forecast
- UTC
conditional until announced; successful closing creates IFRS gross-up and equity JV reclass; purchase property value not separately added to common equity
- annual_ledger
内容を開く
- 1
内容を開く
- calendar_year
- 2027
- 状態
forecast_assumption_unreported
- 開始日
2027-01-01
- 終了日
2027-12-31
- days_after_basis_in_period
- 365
- calendar_days_in_year
- 365
- period_fraction
- 1
- is_partial_period
- いいえ
- ifrs_consolidation_scope
fully_consolidated_gross_rental_income;equity_method_JV_profit_only_not_JV_gross_rent
- gross_rental_income_oku
- 22.51985
- rental_operating_costs_including_service_net_oku
- 4.50397
- net_rental_income_oku
- 18.01588
- other_services_and_development_net_oku
- 0.95
- JV_equity_method_recurring_income_oku
- 1.37
- JV_equity_method_property_valuation_gain_loss_oku
- -0.8667442
- corporate_expenses_including_SBC_oku
- 2.3
- SBC_expense_already_in_corporate_oku
- 0.295
- financing_expenses_net_oku
- 7.2053133
- income_tax_expense_oku
- 1.3538208
- external_NCI_recurring_result_oku
- 0.2558721
- recurring_parent_profit_oku
- 9.2208737
- consolidated_property_FV_gain_loss_non_cash_oku
- -8.8258831
- property_disposal_realized_gain_loss_oku
- -0.15
- finance_derivatives_FV_gain_loss_non_cash_oku
- 0
- IFRS_style_parent_profit_after_SBC_oku
- -0.6217537
- property_disposal_proceeds_oku
- 6
- property_disposal_book_value_oku
- 6.15
- ordinary_maintenance_capex_oku
- 2.6
- property_development_growth_capex_oku
- 3.1
- property_acquisition_cash_including_UTC_oku
- 1
- JV_cash_dividend_inflow_oku
- 1.34
- external_NCI_cash_distributions_oku
- 0.8
- consolidated_earnings_to_cash_before_capex_oku
- 9.7417458
- cash_from_operations_after_NCI_distributions_oku
- 8.9417458
- hybrid_coupon_paid_oku
- 0.72
- FCF_before_disposals_acquisitions_and_holder_payouts_oku
- 2.5217458
- working_capital_use_oku
- 0.5
- depreciation_addback_oku
- 0.5
- company_dividend_cash_paid_oku
- 6.8684858
- company_buybacks_cash_spent_oku
- 0
- share_subscription_cash_inflow_oku
- 0.1092
- UTC_new_shares_non_cash_consideration_oku
- 0
- UTC_JV_ownership_reclassification_value_oku
- 0
- company_total_new_employee_shares
- 310000
- company_employee_cash_issued_shares
- 140000
- SBC_cashless_new_shares
- 170000
- UTC_new_shares
- 0
- company_repurchased_and_cancelled_shares
- 0
- old_holder_tendered_shares
- 0
- parent_equity_start_oku
- 169.201725
- parent_equity_end_oku
- 161.0456856
- parent_equity_reconciliation_oku
- 0
- OCI_FX_to_parent_equity_oku
- -0.35
- net_financial_debt_start_oku
- 184.751624
- net_financial_debt_end_oku
- 184.219164
- FX_remeasurement_of_financial_net_debt_oku
- 0.23
- debt_change_reconciliation_oku
- -0
- IFRS_investment_properties_proxy_oku
- 359.4342466
- equity_method_JV_carrying_proxy_oku
- 71.3919426
- external_NCI_equity_proxy_oku
- 40.5205972
- external_NCI_equity_start_oku
- 41.1522251
- external_NCI_profit_retained_not_common_oku
- -0.5441279
- external_NCI_valuation_allocation_oku
- 0
- external_NCI_FX_OCI_oku
- -0.0875
- external_NCI_payout_ratio_to_recurring_earnings
- 3.1265616
- external_NCI_equity_reconciliation_oku
- 0
- hybrid_equity_proxy_oku
- 14.743
- assumed_cash_buffer_proxy_oku
- 28.357
- gross_nominal_financial_liabilities_proxy_oku
- 212.576164
- other_nonfinancial_liabilities_proxy_oku
- 70.438875
- total_liabilities_proxy_oku
- 283.015039
- total_assets_balancing_proxy_oku
- 499.3243218
- other_assets_balancing_residual_oku
- 68.4981326
- balance_sheet_identity_residual_oku
- 0
- issued_shares_at_period_start
- 144599701
- issued_shares_at_period_end
- 144909701
- old_cohort_shares_at_period_start
- 144549701
- old_cohort_shares_at_period_end
- 144549701
- old_cohort_ownership_at_period_end
- 0.9975157
- dividend_per_share_EUR_paid_in_period
- 4.75
- old_holder_dividend_cash_oku
- 6.8661108
- old_holder_buyback_tender_cash_oku
- 0
- old_holder_cash_payout_in_period_oku
- 6.8661108
- debt_to_consolidated_property_and_JV_proxy
- 0.4275951
- source_or_assumptions
内容を開く
- GRI
9M2026 IFRS reported EUR1,727Mn annualized to EUR2,303Mn; model EUR2,305Mn FY2026; scenario occupancy/rent/disposal rates, UTC consolidation assumed; not company guidance
- SBC
2026H1 cash-flow add-back EUR14.3Mn, expense included in G&A forecast
- IFRS_parent
modelled recurring+FV+JV_FV+disposal gain; not published financial statements
- balance_sheet
cash buffer, nominal debt and other liability estimates; not IFRS forecast
- UTC
conditional until announced; successful closing creates IFRS gross-up and equity JV reclass; purchase property value not separately added to common equity
- 2
内容を開く
- calendar_year
- 2028
- 状態
forecast_assumption_unreported
- 開始日
2028-01-01
- 終了日
2028-12-31
- days_after_basis_in_period
- 366
- calendar_days_in_year
- 366
- period_fraction
- 1
- is_partial_period
- いいえ
- ifrs_consolidation_scope
fully_consolidated_gross_rental_income;equity_method_JV_profit_only_not_JV_gross_rent
- gross_rental_income_oku
- 22.0018935
- rental_operating_costs_including_service_net_oku
- 4.4003787
- net_rental_income_oku
- 17.6015148
- other_services_and_development_net_oku
- 0.96425
- JV_equity_method_recurring_income_oku
- 1.3563
- JV_equity_method_property_valuation_gain_loss_oku
- -0.8567033
- corporate_expenses_including_SBC_oku
- 2.3598
- SBC_expense_already_in_corporate_oku
- 0.295
- financing_expenses_net_oku
- 7.1845474
- income_tax_expense_oku
- 1.2972147
- external_NCI_recurring_result_oku
- 0.2451736
- recurring_parent_profit_oku
- 8.8353291
- consolidated_property_FV_gain_loss_non_cash_oku
- -8.6264219
- property_disposal_realized_gain_loss_oku
- -0.15
- finance_derivatives_FV_gain_loss_non_cash_oku
- 0
- IFRS_style_parent_profit_after_SBC_oku
- -0.7977961
- property_disposal_proceeds_oku
- 6
- property_disposal_book_value_oku
- 6.15
- ordinary_maintenance_capex_oku
- 2.639
- property_development_growth_capex_oku
- 3.162
- property_acquisition_cash_including_UTC_oku
- 1
- JV_cash_dividend_inflow_oku
- 1.34
- external_NCI_cash_distributions_oku
- 0.8
- consolidated_earnings_to_cash_before_capex_oku
- 9.3592027
- cash_from_operations_after_NCI_distributions_oku
- 8.5592027
- hybrid_coupon_paid_oku
- 0.72
- FCF_before_disposals_acquisitions_and_holder_payouts_oku
- 2.0382027
- working_capital_use_oku
- 0.5
- depreciation_addback_oku
- 0.5
- company_dividend_cash_paid_oku
- 4.3354456
- company_buybacks_cash_spent_oku
- 0
- share_subscription_cash_inflow_oku
- 0.1092
- UTC_new_shares_non_cash_consideration_oku
- 0
- UTC_JV_ownership_reclassification_value_oku
- 0
- company_total_new_employee_shares
- 310000
- company_employee_cash_issued_shares
- 140000
- SBC_cashless_new_shares
- 170000
- UTC_new_shares
- 0
- company_repurchased_and_cancelled_shares
- 0
- old_holder_tendered_shares
- 0
- parent_equity_start_oku
- 161.0456856
- parent_equity_end_oku
- 155.2466439
- parent_equity_reconciliation_oku
- -0
- OCI_FX_to_parent_equity_oku
- -0.35
- net_financial_debt_start_oku
- 184.219164
- net_financial_debt_end_oku
- 181.6372069
- FX_remeasurement_of_financial_net_debt_oku
- 0.23
- debt_change_reconciliation_oku
- 0
- IFRS_investment_properties_proxy_oku
- 351.4238247
- equity_method_JV_carrying_proxy_oku
- 70.5515393
- external_NCI_equity_proxy_oku
- 39.8782708
- external_NCI_equity_start_oku
- 40.5205972
- external_NCI_profit_retained_not_common_oku
- -0.5548264
- external_NCI_valuation_allocation_oku
- 0
- external_NCI_FX_OCI_oku
- -0.0875
- external_NCI_payout_ratio_to_recurring_earnings
- 3.2629944
- external_NCI_equity_reconciliation_oku
- 0
- hybrid_equity_proxy_oku
- 14.743
- assumed_cash_buffer_proxy_oku
- 28.357
- gross_nominal_financial_liabilities_proxy_oku
- 209.9942069
- other_nonfinancial_liabilities_proxy_oku
- 71.2841415
- total_liabilities_proxy_oku
- 281.2783484
- total_assets_balancing_proxy_oku
- 491.1462631
- other_assets_balancing_residual_oku
- 69.1708991
- balance_sheet_identity_residual_oku
- 0
- issued_shares_at_period_start
- 144909701
- issued_shares_at_period_end
- 145219701
- old_cohort_shares_at_period_start
- 144549701
- old_cohort_shares_at_period_end
- 144549701
- old_cohort_ownership_at_period_end
- 0.9953863
- dividend_per_share_EUR_paid_in_period
- 2.9918256
- old_holder_dividend_cash_oku
- 4.324675
- old_holder_buyback_tender_cash_oku
- 0
- old_holder_cash_payout_in_period_oku
- 4.324675
- debt_to_consolidated_property_and_JV_proxy
- 0.4304451
- source_or_assumptions
内容を開く
- GRI
9M2026 IFRS reported EUR1,727Mn annualized to EUR2,303Mn; model EUR2,305Mn FY2026; scenario occupancy/rent/disposal rates, UTC consolidation assumed; not company guidance
- SBC
2026H1 cash-flow add-back EUR14.3Mn, expense included in G&A forecast
- IFRS_parent
modelled recurring+FV+JV_FV+disposal gain; not published financial statements
- balance_sheet
cash buffer, nominal debt and other liability estimates; not IFRS forecast
- UTC
conditional until announced; successful closing creates IFRS gross-up and equity JV reclass; purchase property value not separately added to common equity
- 3
内容を開く
- calendar_year
- 2029
- 状態
forecast_assumption_unreported
- 開始日
2029-01-01
- 終了日
2029-12-31
- days_after_basis_in_period
- 365
- calendar_days_in_year
- 365
- period_fraction
- 1
- is_partial_period
- いいえ
- ifrs_consolidation_scope
fully_consolidated_gross_rental_income;equity_method_JV_profit_only_not_JV_gross_rent
- gross_rental_income_oku
- 21.4958499
- rental_operating_costs_including_service_net_oku
- 4.29917
- net_rental_income_oku
- 17.1966799
- other_services_and_development_net_oku
- 0.9787137
- JV_equity_method_recurring_income_oku
- 1.342737
- JV_equity_method_property_valuation_gain_loss_oku
- -0.8466185
- corporate_expenses_including_SBC_oku
- 2.4211548
- SBC_expense_already_in_corporate_oku
- 0.295
- financing_expenses_net_oku
- 7.0838511
- income_tax_expense_oku
- 1.2516406
- external_NCI_recurring_result_oku
- 0.2365601
- recurring_parent_profit_oku
- 8.5249241
- consolidated_property_FV_gain_loss_non_cash_oku
- -8.4341718
- property_disposal_realized_gain_loss_oku
- -0.15
- finance_derivatives_FV_gain_loss_non_cash_oku
- 0
- IFRS_style_parent_profit_after_SBC_oku
- -0.9058661
- property_disposal_proceeds_oku
- 6
- property_disposal_book_value_oku
- 6.15
- ordinary_maintenance_capex_oku
- 2.678585
- property_development_growth_capex_oku
- 3.22524
- property_acquisition_cash_including_UTC_oku
- 1
- JV_cash_dividend_inflow_oku
- 1.34
- external_NCI_cash_distributions_oku
- 0.8
- consolidated_earnings_to_cash_before_capex_oku
- 9.0537472
- cash_from_operations_after_NCI_distributions_oku
- 8.2537472
- hybrid_coupon_paid_oku
- 0.72
- FCF_before_disposals_acquisitions_and_holder_payouts_oku
- 1.6299222
- working_capital_use_oku
- 0.5
- depreciation_addback_oku
- 0.5
- company_dividend_cash_paid_oku
- 4.1388178
- company_buybacks_cash_spent_oku
- 0
- share_subscription_cash_inflow_oku
- 0.1092
- UTC_new_shares_non_cash_consideration_oku
- 0
- UTC_JV_ownership_reclassification_value_oku
- 0
- company_total_new_employee_shares
- 310000
- company_employee_cash_issued_shares
- 140000
- SBC_cashless_new_shares
- 170000
- UTC_new_shares
- 0
- company_repurchased_and_cancelled_shares
- 0
- old_holder_tendered_shares
- 0
- parent_equity_start_oku
- 155.2466439
- parent_equity_end_oku
- 149.5361599
- parent_equity_reconciliation_oku
- -0
- OCI_FX_to_parent_equity_oku
- -0.35
- net_financial_debt_start_oku
- 181.6372069
- net_financial_debt_end_oku
- 179.2669025
- FX_remeasurement_of_financial_net_debt_oku
- 0.23
- debt_change_reconciliation_oku
- 0
- IFRS_investment_properties_proxy_oku
- 343.7084779
- equity_method_JV_carrying_proxy_oku
- 69.7076578
- external_NCI_equity_proxy_oku
- 39.2273308
- external_NCI_equity_start_oku
- 39.8782708
- external_NCI_profit_retained_not_common_oku
- -0.5634399
- external_NCI_valuation_allocation_oku
- 0
- external_NCI_FX_OCI_oku
- -0.0875
- external_NCI_payout_ratio_to_recurring_earnings
- 3.3818048
- external_NCI_equity_reconciliation_oku
- 0
- hybrid_equity_proxy_oku
- 14.743
- assumed_cash_buffer_proxy_oku
- 28.357
- gross_nominal_financial_liabilities_proxy_oku
- 207.6239025
- other_nonfinancial_liabilities_proxy_oku
- 72.1395512
- total_liabilities_proxy_oku
- 279.7634538
- total_assets_balancing_proxy_oku
- 483.2699445
- other_assets_balancing_residual_oku
- 69.8538088
- balance_sheet_identity_residual_oku
- 0
- issued_shares_at_period_start
- 145219701
- issued_shares_at_period_end
- 145529701
- old_cohort_shares_at_period_start
- 144549701
- old_cohort_shares_at_period_end
- 144549701
- old_cohort_ownership_at_period_end
- 0.993266
- dividend_per_share_EUR_paid_in_period
- 2.8500388
- old_holder_dividend_cash_oku
- 4.1197226
- old_holder_buyback_tender_cash_oku
- 0
- old_holder_cash_payout_in_period_oku
- 4.1197226
- debt_to_consolidated_property_and_JV_proxy
- 0.4336234
- source_or_assumptions
内容を開く
- GRI
9M2026 IFRS reported EUR1,727Mn annualized to EUR2,303Mn; model EUR2,305Mn FY2026; scenario occupancy/rent/disposal rates, UTC consolidation assumed; not company guidance
- SBC
2026H1 cash-flow add-back EUR14.3Mn, expense included in G&A forecast
- IFRS_parent
modelled recurring+FV+JV_FV+disposal gain; not published financial statements
- balance_sheet
cash buffer, nominal debt and other liability estimates; not IFRS forecast
- UTC
conditional until announced; successful closing creates IFRS gross-up and equity JV reclass; purchase property value not separately added to common equity
- 4
内容を開く
- calendar_year
- 2030
- 状態
forecast_assumption_unreported
- 開始日
2030-01-01
- 終了日
2030-12-31
- days_after_basis_in_period
- 365
- calendar_days_in_year
- 365
- period_fraction
- 1
- is_partial_period
- いいえ
- ifrs_consolidation_scope
fully_consolidated_gross_rental_income;equity_method_JV_profit_only_not_JV_gross_rent
- gross_rental_income_oku
- 21.6033292
- rental_operating_costs_including_service_net_oku
- 4.3206658
- net_rental_income_oku
- 17.2826633
- other_services_and_development_net_oku
- 0.9933945
- JV_equity_method_recurring_income_oku
- 1.3803007
- JV_equity_method_property_valuation_gain_loss_oku
- -0.8364919
- corporate_expenses_including_SBC_oku
- 2.4841048
- SBC_expense_already_in_corporate_oku
- 0.295
- financing_expenses_net_oku
- 6.9914092
- income_tax_expense_oku
- 1.2726056
- external_NCI_recurring_result_oku
- 0.2405225
- recurring_parent_profit_oku
- 8.6677165
- consolidated_property_FV_gain_loss_non_cash_oku
- 0
- property_disposal_realized_gain_loss_oku
- -0.09
- finance_derivatives_FV_gain_loss_non_cash_oku
- 0
- IFRS_style_parent_profit_after_SBC_oku
- 7.7412246
- property_disposal_proceeds_oku
- 3.6
- property_disposal_book_value_oku
- 3.69
- ordinary_maintenance_capex_oku
- 2.7187638
- property_development_growth_capex_oku
- 3.2897448
- property_acquisition_cash_including_UTC_oku
- 1
- JV_cash_dividend_inflow_oku
- 1.34
- external_NCI_cash_distributions_oku
- 0.8
- consolidated_earnings_to_cash_before_capex_oku
- 9.1629382
- cash_from_operations_after_NCI_distributions_oku
- 8.3629382
- hybrid_coupon_paid_oku
- 0.72
- FCF_before_disposals_acquisitions_and_holder_payouts_oku
- 1.6344296
- working_capital_use_oku
- 0.5
- depreciation_addback_oku
- 0.5
- company_dividend_cash_paid_oku
- 3.9805113
- company_buybacks_cash_spent_oku
- 0
- share_subscription_cash_inflow_oku
- 0.1092
- UTC_new_shares_non_cash_consideration_oku
- 0
- UTC_JV_ownership_reclassification_value_oku
- 0
- company_total_new_employee_shares
- 310000
- company_employee_cash_issued_shares
- 140000
- SBC_cashless_new_shares
- 170000
- UTC_new_shares
- 0
- company_repurchased_and_cancelled_shares
- 0
- old_holder_tendered_shares
- 0
- parent_equity_start_oku
- 149.5361599
- parent_equity_end_oku
- 152.6310732
- parent_equity_reconciliation_oku
- 0
- OCI_FX_to_parent_equity_oku
- -0.35
- net_financial_debt_start_oku
- 179.2669025
- net_financial_debt_end_oku
- 179.1337842
- FX_remeasurement_of_financial_net_debt_oku
- 0.23
- debt_change_reconciliation_oku
- 0
- IFRS_investment_properties_proxy_oku
- 346.9919865
- equity_method_JV_carrying_proxy_oku
- 68.9114666
- external_NCI_equity_proxy_oku
- 38.5803533
- external_NCI_equity_start_oku
- 39.2273308
- external_NCI_profit_retained_not_common_oku
- -0.5594775
- external_NCI_valuation_allocation_oku
- 0
- external_NCI_FX_OCI_oku
- -0.0875
- external_NCI_payout_ratio_to_recurring_earnings
- 3.3260928
- external_NCI_equity_reconciliation_oku
- 0
- hybrid_equity_proxy_oku
- 14.743
- assumed_cash_buffer_proxy_oku
- 28.357
- gross_nominal_financial_liabilities_proxy_oku
- 207.4907842
- other_nonfinancial_liabilities_proxy_oku
- 73.0052258
- total_liabilities_proxy_oku
- 280.49601
- total_assets_balancing_proxy_oku
- 486.4504365
- other_assets_balancing_residual_oku
- 70.5469834
- balance_sheet_identity_residual_oku
- 0
- issued_shares_at_period_start
- 145529701
- issued_shares_at_period_end
- 145839701
- old_cohort_shares_at_period_start
- 144549701
- old_cohort_shares_at_period_end
- 144549701
- old_cohort_ownership_at_period_end
- 0.9911547
- dividend_per_share_EUR_paid_in_period
- 2.7351883
- old_holder_dividend_cash_oku
- 3.9537064
- old_holder_buyback_tender_cash_oku
- 0
- old_holder_cash_payout_in_period_oku
- 3.9537064
- debt_to_consolidated_property_and_JV_proxy
- 0.43071
- source_or_assumptions
内容を開く
- GRI
9M2026 IFRS reported EUR1,727Mn annualized to EUR2,303Mn; model EUR2,305Mn FY2026; scenario occupancy/rent/disposal rates, UTC consolidation assumed; not company guidance
- SBC
2026H1 cash-flow add-back EUR14.3Mn, expense included in G&A forecast
- IFRS_parent
modelled recurring+FV+JV_FV+disposal gain; not published financial statements
- balance_sheet
cash buffer, nominal debt and other liability estimates; not IFRS forecast
- UTC
conditional until announced; successful closing creates IFRS gross-up and equity JV reclass; purchase property value not separately added to common equity
- 5
内容を開く
- calendar_year
- 2031
- 状態
forecast_assumption_unreported
- 開始日
2031-01-01
- 終了日
2031-12-31
- days_after_basis_in_period
- 365
- calendar_days_in_year
- 365
- period_fraction
- 1
- is_partial_period
- いいえ
- ifrs_consolidation_scope
fully_consolidated_gross_rental_income;equity_method_JV_profit_only_not_JV_gross_rent
- gross_rental_income_oku
- 21.7113458
- rental_operating_costs_including_service_net_oku
- 4.3422692
- net_rental_income_oku
- 17.3690766
- other_services_and_development_net_oku
- 1.0082954
- JV_equity_method_recurring_income_oku
- 1.3837515
- JV_equity_method_property_valuation_gain_loss_oku
- -0.8269376
- corporate_expenses_including_SBC_oku
- 2.5486916
- SBC_expense_already_in_corporate_oku
- 0.295
- financing_expenses_net_oku
- 6.9862176
- income_tax_expense_oku
- 1.2782768
- external_NCI_recurring_result_oku
- 0.2415943
- recurring_parent_profit_oku
- 8.7063432
- consolidated_property_FV_gain_loss_non_cash_oku
- 0
- property_disposal_realized_gain_loss_oku
- -0.09
- finance_derivatives_FV_gain_loss_non_cash_oku
- 0
- IFRS_style_parent_profit_after_SBC_oku
- 7.7894056
- property_disposal_proceeds_oku
- 3.6
- property_disposal_book_value_oku
- 3.69
- ordinary_maintenance_capex_oku
- 2.7595452
- property_development_growth_capex_oku
- 3.3555397
- property_acquisition_cash_including_UTC_oku
- 1
- JV_cash_dividend_inflow_oku
- 1.34
- external_NCI_cash_distributions_oku
- 0.8
- consolidated_earnings_to_cash_before_capex_oku
- 9.1991861
- cash_from_operations_after_NCI_distributions_oku
- 8.3991861
- hybrid_coupon_paid_oku
- 0.72
- FCF_before_disposals_acquisitions_and_holder_payouts_oku
- 1.5641012
- working_capital_use_oku
- 0.5
- depreciation_addback_oku
- 0.5
- company_dividend_cash_paid_oku
- 4.0533354
- company_buybacks_cash_spent_oku
- 0
- share_subscription_cash_inflow_oku
- 0.1092
- UTC_new_shares_non_cash_consideration_oku
- 0
- UTC_JV_ownership_reclassification_value_oku
- 0
- company_total_new_employee_shares
- 310000
- company_employee_cash_issued_shares
- 140000
- SBC_cashless_new_shares
- 170000
- UTC_new_shares
- 0
- company_repurchased_and_cancelled_shares
- 0
- old_holder_tendered_shares
- 0
- parent_equity_start_oku
- 152.6310732
- parent_equity_end_oku
- 155.7013434
- parent_equity_reconciliation_oku
- 0
- OCI_FX_to_parent_equity_oku
- -0.35
- net_financial_debt_start_oku
- 179.1337842
- net_financial_debt_end_oku
- 179.1438185
- FX_remeasurement_of_financial_net_debt_oku
- 0.23
- debt_change_reconciliation_oku
- -0
- IFRS_investment_properties_proxy_oku
- 350.3820714
- equity_method_JV_carrying_proxy_oku
- 68.1282805
- external_NCI_equity_proxy_oku
- 37.9344476
- external_NCI_equity_start_oku
- 38.5803533
- external_NCI_profit_retained_not_common_oku
- -0.5584057
- external_NCI_valuation_allocation_oku
- 0
- external_NCI_FX_OCI_oku
- -0.0875
- external_NCI_payout_ratio_to_recurring_earnings
- 3.3113362
- external_NCI_equity_reconciliation_oku
- 0
- hybrid_equity_proxy_oku
- 14.743
- assumed_cash_buffer_proxy_oku
- 28.357
- gross_nominal_financial_liabilities_proxy_oku
- 207.5008185
- other_nonfinancial_liabilities_proxy_oku
- 73.8812886
- total_liabilities_proxy_oku
- 281.382107
- total_assets_balancing_proxy_oku
- 489.760898
- other_assets_balancing_residual_oku
- 71.2505461
- balance_sheet_identity_residual_oku
- 0
- issued_shares_at_period_start
- 145839701
- issued_shares_at_period_end
- 146149701
- old_cohort_shares_at_period_start
- 144549701
- old_cohort_shares_at_period_end
- 144549701
- old_cohort_ownership_at_period_end
- 0.9890523
- dividend_per_share_EUR_paid_in_period
- 2.7793086
- old_holder_dividend_cash_oku
- 4.0174823
- old_holder_buyback_tender_cash_oku
- 0
- old_holder_cash_payout_in_period_oku
- 4.0174823
- debt_to_consolidated_property_and_JV_proxy
- 0.4280511
- source_or_assumptions
内容を開く
- GRI
9M2026 IFRS reported EUR1,727Mn annualized to EUR2,303Mn; model EUR2,305Mn FY2026; scenario occupancy/rent/disposal rates, UTC consolidation assumed; not company guidance
- SBC
2026H1 cash-flow add-back EUR14.3Mn, expense included in G&A forecast
- IFRS_parent
modelled recurring+FV+JV_FV+disposal gain; not published financial statements
- balance_sheet
cash buffer, nominal debt and other liability estimates; not IFRS forecast
- UTC
conditional until announced; successful closing creates IFRS gross-up and equity JV reclass; purchase property value not separately added to common equity
- 6
内容を開く
- calendar_year
- 2032
- 状態
forecast_assumption_unreported
- 開始日
2032-01-01
- 終了日
2032-12-31
- days_after_basis_in_period
- 366
- calendar_days_in_year
- 366
- period_fraction
- 1
- is_partial_period
- いいえ
- ifrs_consolidation_scope
fully_consolidated_gross_rental_income;equity_method_JV_profit_only_not_JV_gross_rent
- gross_rental_income_oku
- 21.8199025
- rental_operating_costs_including_service_net_oku
- 4.3639805
- net_rental_income_oku
- 17.455922
- other_services_and_development_net_oku
- 1.0234198
- JV_equity_method_recurring_income_oku
- 1.3872108
- JV_equity_method_property_valuation_gain_loss_oku
- -0.8175394
- corporate_expenses_including_SBC_oku
- 2.6149575
- SBC_expense_already_in_corporate_oku
- 0.295
- financing_expenses_net_oku
- 6.9866089
- income_tax_expense_oku
- 1.2831233
- external_NCI_recurring_result_oku
- 0.2425103
- recurring_parent_profit_oku
- 8.7393526
- consolidated_property_FV_gain_loss_non_cash_oku
- 0
- property_disposal_realized_gain_loss_oku
- -0.09
- finance_derivatives_FV_gain_loss_non_cash_oku
- 0
- IFRS_style_parent_profit_after_SBC_oku
- 7.8318133
- property_disposal_proceeds_oku
- 3.6
- property_disposal_book_value_oku
- 3.69
- ordinary_maintenance_capex_oku
- 2.8009384
- property_development_growth_capex_oku
- 3.4226505
- property_acquisition_cash_including_UTC_oku
- 1
- JV_cash_dividend_inflow_oku
- 1.34
- external_NCI_cash_distributions_oku
- 0.8
- consolidated_earnings_to_cash_before_capex_oku
- 9.2296521
- cash_from_operations_after_NCI_distributions_oku
- 8.4296521
- hybrid_coupon_paid_oku
- 0.72
- FCF_before_disposals_acquisitions_and_holder_payouts_oku
- 1.4860632
- working_capital_use_oku
- 0.5
- depreciation_addback_oku
- 0.5
- company_dividend_cash_paid_oku
- 4.073035
- company_buybacks_cash_spent_oku
- 0
- share_subscription_cash_inflow_oku
- 0.1092
- UTC_new_shares_non_cash_consideration_oku
- 0
- UTC_JV_ownership_reclassification_value_oku
- 0
- company_total_new_employee_shares
- 310000
- company_employee_cash_issued_shares
- 140000
- SBC_cashless_new_shares
- 170000
- UTC_new_shares
- 0
- company_repurchased_and_cancelled_shares
- 0
- old_holder_tendered_shares
- 0
- parent_equity_start_oku
- 155.7013434
- parent_equity_end_oku
- 158.7943216
- parent_equity_reconciliation_oku
- -0
- OCI_FX_to_parent_equity_oku
- -0.35
- net_financial_debt_start_oku
- 179.1438185
- net_financial_debt_end_oku
- 179.2515903
- FX_remeasurement_of_financial_net_debt_oku
- 0.23
- debt_change_reconciliation_oku
- -0
- IFRS_investment_properties_proxy_oku
- 353.8806603
- equity_method_JV_carrying_proxy_oku
- 67.357952
- external_NCI_equity_proxy_oku
- 37.2894579
- external_NCI_equity_start_oku
- 37.9344476
- external_NCI_profit_retained_not_common_oku
- -0.5574897
- external_NCI_valuation_allocation_oku
- 0
- external_NCI_FX_OCI_oku
- -0.0875
- external_NCI_payout_ratio_to_recurring_earnings
- 3.298829
- external_NCI_equity_reconciliation_oku
- 0
- hybrid_equity_proxy_oku
- 14.743
- assumed_cash_buffer_proxy_oku
- 28.357
- gross_nominal_financial_liabilities_proxy_oku
- 207.6085903
- other_nonfinancial_liabilities_proxy_oku
- 74.767864
- total_liabilities_proxy_oku
- 282.3764543
- total_assets_balancing_proxy_oku
- 493.2032339
- other_assets_balancing_residual_oku
- 71.9646215
- balance_sheet_identity_residual_oku
- 0
- issued_shares_at_period_start
- 146149701
- issued_shares_at_period_end
- 146459701
- old_cohort_shares_at_period_start
- 144549701
- old_cohort_shares_at_period_end
- 144549701
- old_cohort_ownership_at_period_end
- 0.9869589
- dividend_per_share_EUR_paid_in_period
- 2.7868925
- old_holder_dividend_cash_oku
- 4.0284448
- old_holder_buyback_tender_cash_oku
- 0
- old_holder_cash_payout_in_period_oku
- 4.0284448
- debt_to_consolidated_property_and_JV_proxy
- 0.4255346
- source_or_assumptions
内容を開く
- GRI
9M2026 IFRS reported EUR1,727Mn annualized to EUR2,303Mn; model EUR2,305Mn FY2026; scenario occupancy/rent/disposal rates, UTC consolidation assumed; not company guidance
- SBC
2026H1 cash-flow add-back EUR14.3Mn, expense included in G&A forecast
- IFRS_parent
modelled recurring+FV+JV_FV+disposal gain; not published financial statements
- balance_sheet
cash buffer, nominal debt and other liability estimates; not IFRS forecast
- UTC
conditional until announced; successful closing creates IFRS gross-up and equity JV reclass; purchase property value not separately added to common equity
- 7
内容を開く
- calendar_year
- 2033
- 状態
forecast_assumption_unreported
- 開始日
2033-01-01
- 終了日
2033-12-31
- days_after_basis_in_period
- 365
- calendar_days_in_year
- 365
- period_fraction
- 1
- is_partial_period
- いいえ
- ifrs_consolidation_scope
fully_consolidated_gross_rental_income;equity_method_JV_profit_only_not_JV_gross_rent
- gross_rental_income_oku
- 21.929002
- rental_operating_costs_including_service_net_oku
- 4.3858004
- net_rental_income_oku
- 17.5432016
- other_services_and_development_net_oku
- 1.0387711
- JV_equity_method_recurring_income_oku
- 1.3906789
- JV_equity_method_property_valuation_gain_loss_oku
- -0.8082954
- corporate_expenses_including_SBC_oku
- 2.6829464
- SBC_expense_already_in_corporate_oku
- 0.295
- financing_expenses_net_oku
- 6.990812
- income_tax_expense_oku
- 1.2873616
- external_NCI_recurring_result_oku
- 0.2433114
- recurring_parent_profit_oku
- 8.7682202
- consolidated_property_FV_gain_loss_non_cash_oku
- 0
- property_disposal_realized_gain_loss_oku
- -0.09
- finance_derivatives_FV_gain_loss_non_cash_oku
- 0
- IFRS_style_parent_profit_after_SBC_oku
- 7.8699247
- property_disposal_proceeds_oku
- 3.6
- property_disposal_book_value_oku
- 3.69
- ordinary_maintenance_capex_oku
- 2.8429525
- property_development_growth_capex_oku
- 3.4911035
- property_acquisition_cash_including_UTC_oku
- 1
- JV_cash_dividend_inflow_oku
- 1.34
- external_NCI_cash_distributions_oku
- 0.8
- consolidated_earnings_to_cash_before_capex_oku
- 9.2558526
- cash_from_operations_after_NCI_distributions_oku
- 8.4558526
- hybrid_coupon_paid_oku
- 0.72
- FCF_before_disposals_acquisitions_and_holder_payouts_oku
- 1.4017967
- working_capital_use_oku
- 0.5
- depreciation_addback_oku
- 0.5
- company_dividend_cash_paid_oku
- 4.0898698
- company_buybacks_cash_spent_oku
- 0
- share_subscription_cash_inflow_oku
- 0.1092
- UTC_new_shares_non_cash_consideration_oku
- 0
- UTC_JV_ownership_reclassification_value_oku
- 0
- company_total_new_employee_shares
- 310000
- company_employee_cash_issued_shares
- 140000
- SBC_cashless_new_shares
- 170000
- UTC_new_shares
- 0
- company_repurchased_and_cancelled_shares
- 0
- old_holder_tendered_shares
- 0
- parent_equity_start_oku
- 158.7943216
- parent_equity_end_oku
- 161.9085765
- parent_equity_reconciliation_oku
- -0
- OCI_FX_to_parent_equity_oku
- -0.35
- net_financial_debt_start_oku
- 179.2515903
- net_financial_debt_end_oku
- 179.4604635
- FX_remeasurement_of_financial_net_debt_oku
- 0.23
- debt_change_reconciliation_oku
- -0
- IFRS_investment_properties_proxy_oku
- 357.4897163
- equity_method_JV_carrying_proxy_oku
- 66.6003354
- external_NCI_equity_proxy_oku
- 36.6452693
- external_NCI_equity_start_oku
- 37.2894579
- external_NCI_profit_retained_not_common_oku
- -0.5566886
- external_NCI_valuation_allocation_oku
- 0
- external_NCI_FX_OCI_oku
- -0.0875
- external_NCI_payout_ratio_to_recurring_earnings
- 3.2879683
- external_NCI_equity_reconciliation_oku
- 0
- hybrid_equity_proxy_oku
- 14.743
- assumed_cash_buffer_proxy_oku
- 28.357
- gross_nominal_financial_liabilities_proxy_oku
- 207.8174635
- other_nonfinancial_liabilities_proxy_oku
- 75.6650784
- total_liabilities_proxy_oku
- 283.4825419
- total_assets_balancing_proxy_oku
- 496.7793876
- other_assets_balancing_residual_oku
- 72.6893359
- balance_sheet_identity_residual_oku
- 0
- issued_shares_at_period_start
- 146459701
- issued_shares_at_period_end
- 146769701
- old_cohort_shares_at_period_start
- 144549701
- old_cohort_shares_at_period_end
- 144549701
- old_cohort_ownership_at_period_end
- 0.9848743
- dividend_per_share_EUR_paid_in_period
- 2.7924882
- old_holder_dividend_cash_oku
- 4.0365333
- old_holder_buyback_tender_cash_oku
- 0
- old_holder_cash_payout_in_period_oku
- 4.0365333
- debt_to_consolidated_property_and_JV_proxy
- 0.4231659
- source_or_assumptions
内容を開く
- GRI
9M2026 IFRS reported EUR1,727Mn annualized to EUR2,303Mn; model EUR2,305Mn FY2026; scenario occupancy/rent/disposal rates, UTC consolidation assumed; not company guidance
- SBC
2026H1 cash-flow add-back EUR14.3Mn, expense included in G&A forecast
- IFRS_parent
modelled recurring+FV+JV_FV+disposal gain; not published financial statements
- balance_sheet
cash buffer, nominal debt and other liability estimates; not IFRS forecast
- UTC
conditional until announced; successful closing creates IFRS gross-up and equity JV reclass; purchase property value not separately added to common equity
- 8
内容を開く
- calendar_year
- 2034
- 状態
forecast_assumption_unreported
- 開始日
2034-01-01
- 終了日
2034-12-31
- days_after_basis_in_period
- 365
- calendar_days_in_year
- 365
- period_fraction
- 1
- is_partial_period
- いいえ
- ifrs_consolidation_scope
fully_consolidated_gross_rental_income;equity_method_JV_profit_only_not_JV_gross_rent
- gross_rental_income_oku
- 22.038647
- rental_operating_costs_including_service_net_oku
- 4.4077294
- net_rental_income_oku
- 17.6309176
- other_services_and_development_net_oku
- 1.0543527
- JV_equity_method_recurring_income_oku
- 1.3941556
- JV_equity_method_property_valuation_gain_loss_oku
- -0.799204
- corporate_expenses_including_SBC_oku
- 2.752703
- SBC_expense_already_in_corporate_oku
- 0.295
- financing_expenses_net_oku
- 6.9989581
- income_tax_expense_oku
- 1.2909706
- external_NCI_recurring_result_oku
- 0.2439934
- recurring_parent_profit_oku
- 8.7928007
- consolidated_property_FV_gain_loss_non_cash_oku
- 0
- property_disposal_realized_gain_loss_oku
- -0.09
- finance_derivatives_FV_gain_loss_non_cash_oku
- 0
- IFRS_style_parent_profit_after_SBC_oku
- 7.9035967
- property_disposal_proceeds_oku
- 3.6
- property_disposal_book_value_oku
- 3.69
- ordinary_maintenance_capex_oku
- 2.8855968
- property_development_growth_capex_oku
- 3.5609256
- property_acquisition_cash_including_UTC_oku
- 1
- JV_cash_dividend_inflow_oku
- 1.34
- external_NCI_cash_distributions_oku
- 0.8
- consolidated_earnings_to_cash_before_capex_oku
- 9.2776386
- cash_from_operations_after_NCI_distributions_oku
- 8.4776386
- hybrid_coupon_paid_oku
- 0.72
- FCF_before_disposals_acquisitions_and_holder_payouts_oku
- 1.3111163
- working_capital_use_oku
- 0.5
- depreciation_addback_oku
- 0.5
- company_dividend_cash_paid_oku
- 4.1045923
- company_buybacks_cash_spent_oku
- 0
- share_subscription_cash_inflow_oku
- 0.1092
- UTC_new_shares_non_cash_consideration_oku
- 0
- UTC_JV_ownership_reclassification_value_oku
- 0
- company_total_new_employee_shares
- 310000
- company_employee_cash_issued_shares
- 140000
- SBC_cashless_new_shares
- 170000
- UTC_new_shares
- 0
- company_repurchased_and_cancelled_shares
- 0
- old_holder_tendered_shares
- 0
- parent_equity_start_oku
- 161.9085765
- parent_equity_end_oku
- 165.0417809
- parent_equity_reconciliation_oku
- 0
- OCI_FX_to_parent_equity_oku
- -0.35
- net_financial_debt_start_oku
- 179.4604635
- net_financial_debt_end_oku
- 179.7747395
- FX_remeasurement_of_financial_net_debt_oku
- 0.23
- debt_change_reconciliation_oku
- 0
- IFRS_investment_properties_proxy_oku
- 361.2112387
- equity_method_JV_carrying_proxy_oku
- 65.855287
- external_NCI_equity_proxy_oku
- 36.0017627
- external_NCI_equity_start_oku
- 36.6452693
- external_NCI_profit_retained_not_common_oku
- -0.5560066
- external_NCI_valuation_allocation_oku
- 0
- external_NCI_FX_OCI_oku
- -0.0875
- external_NCI_payout_ratio_to_recurring_earnings
- 3.2787766
- external_NCI_equity_reconciliation_oku
- 0
- hybrid_equity_proxy_oku
- 14.743
- assumed_cash_buffer_proxy_oku
- 28.357
- gross_nominal_financial_liabilities_proxy_oku
- 208.1317395
- other_nonfinancial_liabilities_proxy_oku
- 76.5730593
- total_liabilities_proxy_oku
- 284.7047988
- total_assets_balancing_proxy_oku
- 500.4913425
- other_assets_balancing_residual_oku
- 73.4248169
- balance_sheet_identity_residual_oku
- 0
- issued_shares_at_period_start
- 146769701
- issued_shares_at_period_end
- 147079701
- old_cohort_shares_at_period_start
- 144549701
- old_cohort_shares_at_period_end
- 144549701
- old_cohort_ownership_at_period_end
- 0.9827984
- dividend_per_share_EUR_paid_in_period
- 2.796621
- old_holder_dividend_cash_oku
- 4.0425073
- old_holder_buyback_tender_cash_oku
- 0
- old_holder_cash_payout_in_period_oku
- 4.0425073
- debt_to_consolidated_property_and_JV_proxy
- 0.4209525
- source_or_assumptions
内容を開く
- GRI
9M2026 IFRS reported EUR1,727Mn annualized to EUR2,303Mn; model EUR2,305Mn FY2026; scenario occupancy/rent/disposal rates, UTC consolidation assumed; not company guidance
- SBC
2026H1 cash-flow add-back EUR14.3Mn, expense included in G&A forecast
- IFRS_parent
modelled recurring+FV+JV_FV+disposal gain; not published financial statements
- balance_sheet
cash buffer, nominal debt and other liability estimates; not IFRS forecast
- UTC
conditional until announced; successful closing creates IFRS gross-up and equity JV reclass; purchase property value not separately added to common equity
- 9
内容を開く
- calendar_year
- 2035
- 状態
forecast_assumption_unreported
- 開始日
2035-01-01
- 終了日
2035-12-31
- days_after_basis_in_period
- 365
- calendar_days_in_year
- 365
- period_fraction
- 1
- is_partial_period
- いいえ
- ifrs_consolidation_scope
fully_consolidated_gross_rental_income;equity_method_JV_profit_only_not_JV_gross_rent
- gross_rental_income_oku
- 22.1488403
- rental_operating_costs_including_service_net_oku
- 4.4297681
- net_rental_income_oku
- 17.7190722
- other_services_and_development_net_oku
- 1.070168
- JV_equity_method_recurring_income_oku
- 1.397641
- JV_equity_method_property_valuation_gain_loss_oku
- -0.7902634
- corporate_expenses_including_SBC_oku
- 2.8242733
- SBC_expense_already_in_corporate_oku
- 0.295
- financing_expenses_net_oku
- 7.0112148
- income_tax_expense_oku
- 1.2939241
- external_NCI_recurring_result_oku
- 0.2445517
- recurring_parent_profit_oku
- 8.8129172
- consolidated_property_FV_gain_loss_non_cash_oku
- 0
- property_disposal_realized_gain_loss_oku
- -0.09
- finance_derivatives_FV_gain_loss_non_cash_oku
- 0
- IFRS_style_parent_profit_after_SBC_oku
- 7.9326538
- property_disposal_proceeds_oku
- 3.6
- property_disposal_book_value_oku
- 3.69
- ordinary_maintenance_capex_oku
- 2.9288807
- property_development_growth_capex_oku
- 3.6321441
- property_acquisition_cash_including_UTC_oku
- 1
- JV_cash_dividend_inflow_oku
- 1.34
- external_NCI_cash_distributions_oku
- 0.8
- consolidated_earnings_to_cash_before_capex_oku
- 9.2948279
- cash_from_operations_after_NCI_distributions_oku
- 8.4948279
- hybrid_coupon_paid_oku
- 0.72
- FCF_before_disposals_acquisitions_and_holder_payouts_oku
- 1.2138031
- working_capital_use_oku
- 0.5
- depreciation_addback_oku
- 0.5
- company_dividend_cash_paid_oku
- 4.1171284
- company_buybacks_cash_spent_oku
- 0
- share_subscription_cash_inflow_oku
- 0.1092
- UTC_new_shares_non_cash_consideration_oku
- 0
- UTC_JV_ownership_reclassification_value_oku
- 0
- company_total_new_employee_shares
- 310000
- company_employee_cash_issued_shares
- 140000
- SBC_cashless_new_shares
- 170000
- UTC_new_shares
- 0
- company_repurchased_and_cancelled_shares
- 0
- old_holder_tendered_shares
- 0
- parent_equity_start_oku
- 165.0417809
- parent_equity_end_oku
- 168.1915063
- parent_equity_reconciliation_oku
- -0
- OCI_FX_to_parent_equity_oku
- -0.35
- net_financial_debt_start_oku
- 179.7747395
- net_financial_debt_end_oku
- 180.1988648
- FX_remeasurement_of_financial_net_debt_oku
- 0.23
- debt_change_reconciliation_oku
- 0
- IFRS_investment_properties_proxy_oku
- 365.0472635
- equity_method_JV_carrying_proxy_oku
- 65.1226645
- external_NCI_equity_proxy_oku
- 35.3588144
- external_NCI_equity_start_oku
- 36.0017627
- external_NCI_profit_retained_not_common_oku
- -0.5554483
- external_NCI_valuation_allocation_oku
- 0
- external_NCI_FX_OCI_oku
- -0.0875
- external_NCI_payout_ratio_to_recurring_earnings
- 3.2712925
- external_NCI_equity_reconciliation_oku
- 0
- hybrid_equity_proxy_oku
- 14.743
- assumed_cash_buffer_proxy_oku
- 28.357
- gross_nominal_financial_liabilities_proxy_oku
- 208.5558648
- other_nonfinancial_liabilities_proxy_oku
- 77.491936
- total_liabilities_proxy_oku
- 286.0478008
- total_assets_balancing_proxy_oku
- 504.3411215
- other_assets_balancing_residual_oku
- 74.1711936
- balance_sheet_identity_residual_oku
- 0
- issued_shares_at_period_start
- 147079701
- issued_shares_at_period_end
- 147389701
- old_cohort_shares_at_period_start
- 144549701
- old_cohort_shares_at_period_end
- 144549701
- old_cohort_ownership_at_period_end
- 0.9807314
- dividend_per_share_EUR_paid_in_period
- 2.7992499
- old_holder_dividend_cash_oku
- 4.0463073
- old_holder_buyback_tender_cash_oku
- 0
- old_holder_cash_payout_in_period_oku
- 4.0463073
- debt_to_consolidated_property_and_JV_proxy
- 0.4189016
- source_or_assumptions
内容を開く
- GRI
9M2026 IFRS reported EUR1,727Mn annualized to EUR2,303Mn; model EUR2,305Mn FY2026; scenario occupancy/rent/disposal rates, UTC consolidation assumed; not company guidance
- SBC
2026H1 cash-flow add-back EUR14.3Mn, expense included in G&A forecast
- IFRS_parent
modelled recurring+FV+JV_FV+disposal gain; not published financial statements
- balance_sheet
cash buffer, nominal debt and other liability estimates; not IFRS forecast
- UTC
conditional until announced; successful closing creates IFRS gross-up and equity JV reclass; purchase property value not separately added to common equity
- 10
内容を開く
- calendar_year
- 2036
- 状態
forecast_assumption_unreported
- 開始日
2036-01-01
- 終了日
2036-11-06
- days_after_basis_in_period
- 311
- calendar_days_in_year
- 366
- period_fraction
- 0.8497268
- is_partial_period
- はい
- ifrs_consolidation_scope
fully_consolidated_gross_rental_income;equity_method_JV_profit_only_not_JV_gross_rent
- gross_rental_income_oku
- 18.914565
- rental_operating_costs_including_service_net_oku
- 3.782913
- net_rental_income_oku
- 15.131652
- other_services_and_development_net_oku
- 0.9229906
- JV_equity_method_recurring_income_oku
- 1.190582
- JV_equity_method_property_valuation_gain_loss_oku
- -0.6640377
- corporate_expenses_including_SBC_oku
- 2.462257
- SBC_expense_already_in_corporate_oku
- 0.2506694
- financing_expenses_net_oku
- 5.9716722
- income_tax_expense_oku
- 1.1014119
- external_NCI_recurring_result_oku
- 0.2081669
- recurring_parent_profit_oku
- 7.5017165
- consolidated_property_FV_gain_loss_non_cash_oku
- 0
- property_disposal_realized_gain_loss_oku
- -0.0764754
- finance_derivatives_FV_gain_loss_non_cash_oku
- 0
- IFRS_style_parent_profit_after_SBC_oku
- 6.7612035
- property_disposal_proceeds_oku
- 3.0590164
- property_disposal_book_value_oku
- 3.1354918
- ordinary_maintenance_capex_oku
- 2.5260796
- property_development_growth_capex_oku
- 3.1480567
- property_acquisition_cash_including_UTC_oku
- 0.8497268
- JV_cash_dividend_inflow_oku
- 1.1386339
- external_NCI_cash_distributions_oku
- 0.6797814
- consolidated_earnings_to_cash_before_capex_oku
- 7.9086047
- cash_from_operations_after_NCI_distributions_oku
- 7.2288233
- hybrid_coupon_paid_oku
- 0.6118033
- FCF_before_disposals_acquisitions_and_holder_payouts_oku
- 0.9428837
- working_capital_use_oku
- 0.4248634
- depreciation_addback_oku
- 0.4248634
- company_dividend_cash_paid_oku
- 4.1273878
- company_buybacks_cash_spent_oku
- 0
- share_subscription_cash_inflow_oku
- 0.1092
- UTC_new_shares_non_cash_consideration_oku
- 0
- UTC_JV_ownership_reclassification_value_oku
- 0
- company_total_new_employee_shares
- 310000
- company_employee_cash_issued_shares
- 140000
- SBC_cashless_new_shares
- 170000
- UTC_new_shares
- 0
- company_repurchased_and_cancelled_shares
- 0
- old_holder_tendered_shares
- 0
- parent_equity_start_oku
- 168.1915063
- parent_equity_end_oku
- 170.2759838
- parent_equity_reconciliation_oku
- 0
- OCI_FX_to_parent_equity_oku
- -0.2974044
- net_financial_debt_start_oku
- 180.1988648
- net_financial_debt_end_oku
- 181.2603164
- FX_remeasurement_of_financial_net_debt_oku
- 0.1954372
- debt_change_reconciliation_oku
- 0
- IFRS_investment_properties_proxy_oku
- 368.4058943
- equity_method_JV_carrying_proxy_oku
- 64.5105749
- external_NCI_equity_proxy_oku
- 34.8128487
- external_NCI_equity_start_oku
- 35.3588144
- external_NCI_profit_retained_not_common_oku
- -0.4716146
- external_NCI_valuation_allocation_oku
- 0
- external_NCI_FX_OCI_oku
- -0.0743511
- external_NCI_payout_ratio_to_recurring_earnings
- 3.2655604
- external_NCI_equity_reconciliation_oku
- 0
- hybrid_equity_proxy_oku
- 14.743
- assumed_cash_buffer_proxy_oku
- 28.357
- gross_nominal_financial_liabilities_proxy_oku
- 209.6173164
- other_nonfinancial_liabilities_proxy_oku
- 78.2820997
- total_liabilities_proxy_oku
- 287.8994161
- total_assets_balancing_proxy_oku
- 507.7312486
- other_assets_balancing_residual_oku
- 74.8147794
- balance_sheet_identity_residual_oku
- 0
- issued_shares_at_period_start
- 147389701
- issued_shares_at_period_end
- 147699701
- old_cohort_shares_at_period_start
- 144549701
- old_cohort_shares_at_period_end
- 144549701
- old_cohort_ownership_at_period_end
- 0.9786729
- dividend_per_share_EUR_paid_in_period
- 2.8003231
- old_holder_dividend_cash_oku
- 4.0478586
- old_holder_buyback_tender_cash_oku
- 0
- old_holder_cash_payout_in_period_oku
- 4.0478586
- debt_to_consolidated_property_and_JV_proxy
- 0.4186958
- source_or_assumptions
内容を開く
- GRI
9M2026 IFRS reported EUR1,727Mn annualized to EUR2,303Mn; model EUR2,305Mn FY2026; scenario occupancy/rent/disposal rates, UTC consolidation assumed; not company guidance
- SBC
2026H1 cash-flow add-back EUR14.3Mn, expense included in G&A forecast
- IFRS_parent
modelled recurring+FV+JV_FV+disposal gain; not published financial statements
- balance_sheet
cash buffer, nominal debt and other liability estimates; not IFRS forecast
- UTC
conditional until announced; successful closing creates IFRS gross-up and equity JV reclass; purchase property value not separately added to common equity
- 終価の基準日
2036-11-06
- terminal_discount_years_exact_calendar_anniversary
- 10
- terminal_equity_model
内容を開く
- 方法
post_2036_pro_rata_tender_stock_neutral_emissions_nci_ringfenced_FCFE_geometric_perpetuity_not_market_multiple
- annualized_2036_recurring_IFRS_parent_profit_oku
- 8.8283864
- annualized_JV_recurring_income_eliminated_oku
- 1.401135
- annualized_JV_dividends_received_oku
- 1.34
- annualized_NCI_profits_added_back_oku
- 0.244981
- annualized_NCI_dividends_deducted_oku
- 0.1714867
- annualized_NCI_dividends_actually_modelled_2036_oku
- 0.8
- annualized_non_cash_SBC_addback_oku
- 0.295
- annualized_depreciation_addback_oku
- 0.5
- annualized_working_capital_use_oku
- 0.5
- annualized_hybrid_coupon_oku
- 0.72
- owner_operating_cash_before_reinvestment_oku
- 8.3900226
- group_operating_cash_before_reinvestment_after_NCI_dividend_oku
- 8.4157456
- NCI_cash_earmarked_not_parent_oku
- 0.025723
- terminal_maintenance_capex_per_year_oku
- 2.85
- terminal_growth_reinvestment_per_year_oku
- 2.35
- sustainable_distributable_owner_FCFE_before_growth_oku
- 3.1900226
- next_year_perpetual_growth_g
- 0.006
- perpetual_equity_cost_k
- 0.115
- next_year_owner_FCFE_oku
- 3.2091627
- terminal_company_common_equity_value_oku
- 29.0331234
- terminal_old_cohort_value_oku
- 28.4139323
- cashflow_vs_debt
equity-FCFE is after interest, lease and nonordinary funding assumptions; no re-subtraction of net debt
- NCI_bridge
内容を開く
- annualized_2036_NCI_IFRS_recurring_result_oku
- 0.244981
- historical_model_2036_NCI_cash_distribution_annualized_oku
- 0.8
- historical_model_2036_distribution_vs_result_ratio
- 3.2655595
- normalized_2037plus_NCI_distribution_to_recurring_result_ratio
- 0.7
- normalized_2036_NCI_dividend_oku
- 0.1714867
- normalized_2036_NCI_profit_retained_oku
- 0.0734943
- NCI_retained_profit_reinvested_within_consolidated_gross_capex_ratio
- 0.65
- NCI_capex_allocation_included_in_gross_capex_oku
- 0.0477713
- NCI_ringfenced_cash_reserve_oku
- 0.025723
- NCI_reserved_claim_reconciliation_oku
- 0
- group_cash_before_capex_after_NCI_distributions_oku
- 8.4157456
- group_cash_after_gross_capex_oku
- 3.2157456
- owner_common_cash_after_NCI_cash_reserve_oku
- 3.1900226
- owner_common_direct_parent_profit_approach_oku
- 3.1900226
- NCI_equity_end_2036_oku
- 34.8128487
- NCI_equity_forward_2037_oku
- 34.886784
- NCI_equity_reinvested_and_earmarked_to_NCI_only
- はい
- NCI_market_NAV_added_to_common_value_oku
- 0
- NCI_future_2037_2046_projection
内容を開く
- 1
内容を開く
- year
- 2037
- 状態
terminal_projection_not_reported
- NCI_equity_open_oku
- 34.8128487
- NCI_profit_oku
- 0.2464509
- NCI_payout_ratio
- 0.7
- NCI_distribution_cash_oku
- 0.1725156
- NCI_reinvested_in_existing_gross_capex_oku
- 0.0480579
- NCI_ringfenced_cash_oku
- 0.0258773
- NCI_total_retained_oku
- 0.0739353
- NCI_equity_close_oku
- 34.886784
- included_in_parent_common_equity_value_as_separate_NAV
- いいえ
- 2
内容を開く
- year
- 2038
- 状態
terminal_projection_not_reported
- NCI_equity_open_oku
- 34.886784
- NCI_profit_oku
- 0.2479296
- NCI_payout_ratio
- 0.7
- NCI_distribution_cash_oku
- 0.1735507
- NCI_reinvested_in_existing_gross_capex_oku
- 0.0483463
- NCI_ringfenced_cash_oku
- 0.0260326
- NCI_total_retained_oku
- 0.0743789
- NCI_equity_close_oku
- 34.9611628
- included_in_parent_common_equity_value_as_separate_NAV
- いいえ
- 3
内容を開く
- year
- 2039
- 状態
terminal_projection_not_reported
- NCI_equity_open_oku
- 34.9611628
- NCI_profit_oku
- 0.2494171
- NCI_payout_ratio
- 0.7
- NCI_distribution_cash_oku
- 0.174592
- NCI_reinvested_in_existing_gross_capex_oku
- 0.0486363
- NCI_ringfenced_cash_oku
- 0.0261888
- NCI_total_retained_oku
- 0.0748251
- NCI_equity_close_oku
- 35.035988
- included_in_parent_common_equity_value_as_separate_NAV
- いいえ
- 4
内容を開く
- year
- 2040
- 状態
terminal_projection_not_reported
- NCI_equity_open_oku
- 35.035988
- NCI_profit_oku
- 0.2509136
- NCI_payout_ratio
- 0.7
- NCI_distribution_cash_oku
- 0.1756396
- NCI_reinvested_in_existing_gross_capex_oku
- 0.0489282
- NCI_ringfenced_cash_oku
- 0.0263459
- NCI_total_retained_oku
- 0.0752741
- NCI_equity_close_oku
- 35.1112621
- included_in_parent_common_equity_value_as_separate_NAV
- いいえ
- 5
内容を開く
- year
- 2041
- 状態
terminal_projection_not_reported
- NCI_equity_open_oku
- 35.1112621
- NCI_profit_oku
- 0.2524191
- NCI_payout_ratio
- 0.7
- NCI_distribution_cash_oku
- 0.1766934
- NCI_reinvested_in_existing_gross_capex_oku
- 0.0492217
- NCI_ringfenced_cash_oku
- 0.026504
- NCI_total_retained_oku
- 0.0757257
- NCI_equity_close_oku
- 35.1869878
- included_in_parent_common_equity_value_as_separate_NAV
- いいえ
- 6
内容を開く
- year
- 2042
- 状態
terminal_projection_not_reported
- NCI_equity_open_oku
- 35.1869878
- NCI_profit_oku
- 0.2539336
- NCI_payout_ratio
- 0.7
- NCI_distribution_cash_oku
- 0.1777536
- NCI_reinvested_in_existing_gross_capex_oku
- 0.0495171
- NCI_ringfenced_cash_oku
- 0.026663
- NCI_total_retained_oku
- 0.0761801
- NCI_equity_close_oku
- 35.2631679
- included_in_parent_common_equity_value_as_separate_NAV
- いいえ
- 7
内容を開く
- year
- 2043
- 状態
terminal_projection_not_reported
- NCI_equity_open_oku
- 35.2631679
- NCI_profit_oku
- 0.2554572
- NCI_payout_ratio
- 0.7
- NCI_distribution_cash_oku
- 0.1788201
- NCI_reinvested_in_existing_gross_capex_oku
- 0.0498142
- NCI_ringfenced_cash_oku
- 0.026823
- NCI_total_retained_oku
- 0.0766372
- NCI_equity_close_oku
- 35.3398051
- included_in_parent_common_equity_value_as_separate_NAV
- いいえ
- 8
内容を開く
- year
- 2044
- 状態
terminal_projection_not_reported
- NCI_equity_open_oku
- 35.3398051
- NCI_profit_oku
- 0.25699
- NCI_payout_ratio
- 0.7
- NCI_distribution_cash_oku
- 0.179893
- NCI_reinvested_in_existing_gross_capex_oku
- 0.050113
- NCI_ringfenced_cash_oku
- 0.0269839
- NCI_total_retained_oku
- 0.077097
- NCI_equity_close_oku
- 35.4169021
- included_in_parent_common_equity_value_as_separate_NAV
- いいえ
- 9
内容を開く
- year
- 2045
- 状態
terminal_projection_not_reported
- NCI_equity_open_oku
- 35.4169021
- NCI_profit_oku
- 0.2585319
- NCI_payout_ratio
- 0.7
- NCI_distribution_cash_oku
- 0.1809723
- NCI_reinvested_in_existing_gross_capex_oku
- 0.0504137
- NCI_ringfenced_cash_oku
- 0.0271459
- NCI_total_retained_oku
- 0.0775596
- NCI_equity_close_oku
- 35.4944616
- included_in_parent_common_equity_value_as_separate_NAV
- いいえ
- 10
内容を開く
- year
- 2046
- 状態
terminal_projection_not_reported
- NCI_equity_open_oku
- 35.4944616
- NCI_profit_oku
- 0.2600831
- NCI_payout_ratio
- 0.7
- NCI_distribution_cash_oku
- 0.1820582
- NCI_reinvested_in_existing_gross_capex_oku
- 0.0507162
- NCI_ringfenced_cash_oku
- 0.0273087
- NCI_total_retained_oku
- 0.0780249
- NCI_equity_close_oku
- 35.5724866
- included_in_parent_common_equity_value_as_separate_NAV
- いいえ
- disclosure
NCI retained earnings are either reinvested in consolidated capex or ringfenced cash; neither enters common parent value as asset/NAV. Proceeds from NCI disposals not extrapolated into parent cash.
- post_2036_SBC_dilution_or_repurchase
内容を開く
- model
2037plus_pro_rata_tender_share_neutral_same_policy_as_2027to2036
- SBC_expense_already_in_income_and_added_back_2036_oku
- 0.295
- SBC_expense_assumed_2037_oku
- 0.29677
- 2037_SBC_cashless_delivery_shares
- 170000
- 2037_employee_cash_subscribed_shares
- 140000
- 2037_total_shares_issued
- 310000
- 2037_assumed_stock_market_price_EUR
- 19.65686
- 2037_hypothetical_employee_subscription_market_price_ratio
- 0.85
- 2037_employee_subscription_price_EUR
- 16.708331
- 2037_gross_repurchase_shares_for_stock_neutrality
- 310000
- 2037_gross_market_repurchase_cash_oku
- 0.0609363
- 2037_employee_subscription_cash_inflow_oku
- 0.0233917
- 2037_net_company_repurchase_funding_oku
- 0.0375446
- 2037_net_repurchase_funding_minus_SBC_expense_oku
- -0.2592254
- 2037_group_common_FCFE_before_future_issue_funding_oku
- 3.2091627
- 2037_company_cash_dividend_after_funding_oku
- 3.1716181
- 2037_old_cohort_proportional_tender_shares
- 302753.1777123
- 2037_old_cohort_tender_proceeds_oku
- 0.0595118
- 2037_old_cohort_cash_dividend_oku
- 3.0974757
- 2037_old_cohort_combined_cash_oku
- 3.1569875
- 2037_old_cohort_shares_after_tender
- 144246947.82229
- 2037_old_cohort_share_factor_per_year
- 0.9979055
- future_fair_price_growth_g
- 0.006
- terminal_share_issuance_denominator_addon_vs_no_future_shares
- 0.0015345
- perpetuity_denominator
- 0.1105345
- valuation_formula
2036 equivalent company value = F2037 / [(k-g)+((1+k)*(N_free+N_paid)-discount*N_paid)/N_2036]. Old cohort value = value*(old_shares_2036/N_2036). A proportional tender gets back repurchase cash, hence its tender CF must not be separately penalized after shrinking its cohort shares.
- cohort_cash_2037_reconciliation
O/(N+q)*(FCFE2037+employee_subscription_cash) = O/(N+q)*(FCFE2037+employee_subscription_cash-gross_buyback_cash) + O/(N+q)*gross_buyback_cash
- share_neutrality_is_company_share_count_only_not_automatic_old_cohort_ownership_neutrality
- はい
- year_2037_to_2046_explanation_ledger
内容を開く
- 1
内容を開く
- calendar_year
- 2037
- 状態
illustrative_terminal_continuation_not_announced
- employee_paid_subscription_date_assumed
2037-06-01
- SBC_cashless_delivery_date_assumed
2037-09-15
- company_stock_neutralizing_buyback_date_assumed
2037-11-03
- year_from_2036_term
- 1
- 2036_ownership_cohort_shares_at_year_start
- 144549701
- company_shares_before_new_issue
- 147699701
- cashless_SBC_shares_issued
- 170000
- employee_paid_shares_issued
- 140000
- shares_outstanding_after_issuance
- 148009701
- market_shares_rebought_and_cancelled
- 310000
- company_shares_at_year_end
- 147699701
- model_fair_market_price_EUR
- 19.65686
- employee_paid_issue_price_EUR
- 16.708331
- gross_market_buyback_cash_oku
- 0.0609363
- employee_subscription_cash_inflow_oku
- 0.0233917
- net_cash_funding_need_after_subscriptions_oku
- 0.0375446
- annual_SBC_expense_already_deducted_oku
- 0.29677
- annual_noncash_SBC_addback_oku
- 0.29677
- old_cohort_pro_rata_tendered_shares
- 302753.1777123
- old_cohort_tender_cash_oku
- 0.0595118
- old_cohort_shares_year_end
- 144246947.82229
- company_distributable_dividend_after_buyback_oku
- 3.1716181
- old_cohort_dividend_after_buyback_oku
- 3.0974757
- old_cohort_total_cash_receipts_oku
- 3.1569875
- old_cohort_fraction_at_year_end
- 0.9766232
- not_in_first_ten_year_holder_cashflows
- はい
- 2
内容を開く
- calendar_year
- 2038
- 状態
illustrative_terminal_continuation_not_announced
- employee_paid_subscription_date_assumed
2038-06-01
- SBC_cashless_delivery_date_assumed
2038-09-15
- company_stock_neutralizing_buyback_date_assumed
2038-11-03
- year_from_2036_term
- 2
- 2036_ownership_cohort_shares_at_year_start
- 144246947.82229
- company_shares_before_new_issue
- 147699701
- cashless_SBC_shares_issued
- 170000
- employee_paid_shares_issued
- 140000
- shares_outstanding_after_issuance
- 148009701
- market_shares_rebought_and_cancelled
- 310000
- company_shares_at_year_end
- 147699701
- model_fair_market_price_EUR
- 19.7748011
- employee_paid_issue_price_EUR
- 16.808581
- gross_market_buyback_cash_oku
- 0.0613019
- employee_subscription_cash_inflow_oku
- 0.023532
- net_cash_funding_need_after_subscriptions_oku
- 0.0377699
- annual_SBC_expense_already_deducted_oku
- 0.2985506
- annual_noncash_SBC_addback_oku
- 0.2985506
- old_cohort_pro_rata_tendered_shares
- 302119.0741066
- old_cohort_tender_cash_oku
- 0.0597434
- old_cohort_shares_year_end
- 143944828.74818
- company_distributable_dividend_after_buyback_oku
- 3.1906478
- old_cohort_dividend_after_buyback_oku
- 3.1095341
- old_cohort_total_cash_receipts_oku
- 3.1692775
- old_cohort_fraction_at_year_end
- 0.9745777
- not_in_first_ten_year_holder_cashflows
- はい
- 3
内容を開く
- calendar_year
- 2039
- 状態
illustrative_terminal_continuation_not_announced
- employee_paid_subscription_date_assumed
2039-06-01
- SBC_cashless_delivery_date_assumed
2039-09-15
- company_stock_neutralizing_buyback_date_assumed
2039-11-03
- year_from_2036_term
- 3
- 2036_ownership_cohort_shares_at_year_start
- 143944828.74818
- company_shares_before_new_issue
- 147699701
- cashless_SBC_shares_issued
- 170000
- employee_paid_shares_issued
- 140000
- shares_outstanding_after_issuance
- 148009701
- market_shares_rebought_and_cancelled
- 310000
- company_shares_at_year_end
- 147699701
- model_fair_market_price_EUR
- 19.8934499
- employee_paid_issue_price_EUR
- 16.9094324
- gross_market_buyback_cash_oku
- 0.0616697
- employee_subscription_cash_inflow_oku
- 0.0236732
- net_cash_funding_need_after_subscriptions_oku
- 0.0379965
- annual_SBC_expense_already_deducted_oku
- 0.3003419
- annual_noncash_SBC_addback_oku
- 0.3003419
- old_cohort_pro_rata_tendered_shares
- 301486.2986037
- old_cohort_tender_cash_oku
- 0.059976
- old_cohort_shares_year_end
- 143643342.44958
- company_distributable_dividend_after_buyback_oku
- 3.2097917
- old_cohort_dividend_after_buyback_oku
- 3.1216394
- old_cohort_total_cash_receipts_oku
- 3.1816155
- old_cohort_fraction_at_year_end
- 0.9725364
- not_in_first_ten_year_holder_cashflows
- はい
- 4
内容を開く
- calendar_year
- 2040
- 状態
illustrative_terminal_continuation_not_announced
- employee_paid_subscription_date_assumed
2040-06-01
- SBC_cashless_delivery_date_assumed
2040-09-15
- company_stock_neutralizing_buyback_date_assumed
2040-11-03
- year_from_2036_term
- 4
- 2036_ownership_cohort_shares_at_year_start
- 143643342.44958
- company_shares_before_new_issue
- 147699701
- cashless_SBC_shares_issued
- 170000
- employee_paid_shares_issued
- 140000
- shares_outstanding_after_issuance
- 148009701
- market_shares_rebought_and_cancelled
- 310000
- company_shares_at_year_end
- 147699701
- model_fair_market_price_EUR
- 20.0128106
- employee_paid_issue_price_EUR
- 17.010889
- gross_market_buyback_cash_oku
- 0.0620397
- employee_subscription_cash_inflow_oku
- 0.0238152
- net_cash_funding_need_after_subscriptions_oku
- 0.0382245
- annual_SBC_expense_already_deducted_oku
- 0.302144
- annual_noncash_SBC_addback_oku
- 0.302144
- old_cohort_pro_rata_tendered_shares
- 300854.8484222
- old_cohort_tender_cash_oku
- 0.0602095
- old_cohort_shares_year_end
- 143342487.60116
- company_distributable_dividend_after_buyback_oku
- 3.2290505
- old_cohort_dividend_after_buyback_oku
- 3.1337919
- old_cohort_total_cash_receipts_oku
- 3.1940014
- old_cohort_fraction_at_year_end
- 0.9704995
- not_in_first_ten_year_holder_cashflows
- はい
- 5
内容を開く
- calendar_year
- 2041
- 状態
illustrative_terminal_continuation_not_announced
- employee_paid_subscription_date_assumed
2041-06-01
- SBC_cashless_delivery_date_assumed
2041-09-15
- company_stock_neutralizing_buyback_date_assumed
2041-11-03
- year_from_2036_term
- 5
- 2036_ownership_cohort_shares_at_year_start
- 143342487.60116
- company_shares_before_new_issue
- 147699701
- cashless_SBC_shares_issued
- 170000
- employee_paid_shares_issued
- 140000
- shares_outstanding_after_issuance
- 148009701
- market_shares_rebought_and_cancelled
- 310000
- company_shares_at_year_end
- 147699701
- model_fair_market_price_EUR
- 20.1328875
- employee_paid_issue_price_EUR
- 17.1129544
- gross_market_buyback_cash_oku
- 0.062412
- employee_subscription_cash_inflow_oku
- 0.0239581
- net_cash_funding_need_after_subscriptions_oku
- 0.0384538
- annual_SBC_expense_already_deducted_oku
- 0.3039568
- annual_noncash_SBC_addback_oku
- 0.3039568
- old_cohort_pro_rata_tendered_shares
- 300224.7207861
- old_cohort_tender_cash_oku
- 0.0604439
- old_cohort_shares_year_end
- 143042262.88037
- company_distributable_dividend_after_buyback_oku
- 3.2484248
- old_cohort_dividend_after_buyback_oku
- 3.1459917
- old_cohort_total_cash_receipts_oku
- 3.2064356
- old_cohort_fraction_at_year_end
- 0.9684668
- not_in_first_ten_year_holder_cashflows
- はい
- 6
内容を開く
- calendar_year
- 2042
- 状態
illustrative_terminal_continuation_not_announced
- employee_paid_subscription_date_assumed
2042-06-01
- SBC_cashless_delivery_date_assumed
2042-09-15
- company_stock_neutralizing_buyback_date_assumed
2042-11-03
- year_from_2036_term
- 6
- 2036_ownership_cohort_shares_at_year_start
- 143042262.88037
- company_shares_before_new_issue
- 147699701
- cashless_SBC_shares_issued
- 170000
- employee_paid_shares_issued
- 140000
- shares_outstanding_after_issuance
- 148009701
- market_shares_rebought_and_cancelled
- 310000
- company_shares_at_year_end
- 147699701
- model_fair_market_price_EUR
- 20.2536848
- employee_paid_issue_price_EUR
- 17.2156321
- gross_market_buyback_cash_oku
- 0.0627864
- employee_subscription_cash_inflow_oku
- 0.0241019
- net_cash_funding_need_after_subscriptions_oku
- 0.0386845
- annual_SBC_expense_already_deducted_oku
- 0.3057806
- annual_noncash_SBC_addback_oku
- 0.3057806
- old_cohort_pro_rata_tendered_shares
- 299595.9129254
- old_cohort_tender_cash_oku
- 0.0606792
- old_cohort_shares_year_end
- 142742666.96744
- company_distributable_dividend_after_buyback_oku
- 3.2679153
- old_cohort_dividend_after_buyback_oku
- 3.1582389
- old_cohort_total_cash_receipts_oku
- 3.2189182
- old_cohort_fraction_at_year_end
- 0.9664384
- not_in_first_ten_year_holder_cashflows
- はい
- 7
内容を開く
- calendar_year
- 2043
- 状態
illustrative_terminal_continuation_not_announced
- employee_paid_subscription_date_assumed
2043-06-01
- SBC_cashless_delivery_date_assumed
2043-09-15
- company_stock_neutralizing_buyback_date_assumed
2043-11-03
- year_from_2036_term
- 7
- 2036_ownership_cohort_shares_at_year_start
- 142742666.96744
- company_shares_before_new_issue
- 147699701
- cashless_SBC_shares_issued
- 170000
- employee_paid_shares_issued
- 140000
- shares_outstanding_after_issuance
- 148009701
- market_shares_rebought_and_cancelled
- 310000
- company_shares_at_year_end
- 147699701
- model_fair_market_price_EUR
- 20.3752069
- employee_paid_issue_price_EUR
- 17.3189259
- gross_market_buyback_cash_oku
- 0.0631631
- employee_subscription_cash_inflow_oku
- 0.0242465
- net_cash_funding_need_after_subscriptions_oku
- 0.0389166
- annual_SBC_expense_already_deducted_oku
- 0.3076153
- annual_noncash_SBC_addback_oku
- 0.3076153
- old_cohort_pro_rata_tendered_shares
- 298968.422076
- old_cohort_tender_cash_oku
- 0.0609154
- old_cohort_shares_year_end
- 142443698.54537
- company_distributable_dividend_after_buyback_oku
- 3.2875228
- old_cohort_dividend_after_buyback_oku
- 3.1705339
- old_cohort_total_cash_receipts_oku
- 3.2314493
- old_cohort_fraction_at_year_end
- 0.9644143
- not_in_first_ten_year_holder_cashflows
- はい
- 8
内容を開く
- calendar_year
- 2044
- 状態
illustrative_terminal_continuation_not_announced
- employee_paid_subscription_date_assumed
2044-06-01
- SBC_cashless_delivery_date_assumed
2044-09-15
- company_stock_neutralizing_buyback_date_assumed
2044-11-03
- year_from_2036_term
- 8
- 2036_ownership_cohort_shares_at_year_start
- 142443698.54537
- company_shares_before_new_issue
- 147699701
- cashless_SBC_shares_issued
- 170000
- employee_paid_shares_issued
- 140000
- shares_outstanding_after_issuance
- 148009701
- market_shares_rebought_and_cancelled
- 310000
- company_shares_at_year_end
- 147699701
- model_fair_market_price_EUR
- 20.4974582
- employee_paid_issue_price_EUR
- 17.4228394
- gross_market_buyback_cash_oku
- 0.0635421
- employee_subscription_cash_inflow_oku
- 0.024392
- net_cash_funding_need_after_subscriptions_oku
- 0.0391501
- annual_SBC_expense_already_deducted_oku
- 0.3094609
- annual_noncash_SBC_addback_oku
- 0.3094609
- old_cohort_pro_rata_tendered_shares
- 298342.2454793
- old_cohort_tender_cash_oku
- 0.0611526
- old_cohort_shares_year_end
- 142145356.29989
- company_distributable_dividend_after_buyback_oku
- 3.3072479
- old_cohort_dividend_after_buyback_oku
- 3.1828767
- old_cohort_total_cash_receipts_oku
- 3.2440293
- old_cohort_fraction_at_year_end
- 0.9623943
- not_in_first_ten_year_holder_cashflows
- はい
- 9
内容を開く
- calendar_year
- 2045
- 状態
illustrative_terminal_continuation_not_announced
- employee_paid_subscription_date_assumed
2045-06-01
- SBC_cashless_delivery_date_assumed
2045-09-15
- company_stock_neutralizing_buyback_date_assumed
2045-11-03
- year_from_2036_term
- 9
- 2036_ownership_cohort_shares_at_year_start
- 142145356.29989
- company_shares_before_new_issue
- 147699701
- cashless_SBC_shares_issued
- 170000
- employee_paid_shares_issued
- 140000
- shares_outstanding_after_issuance
- 148009701
- market_shares_rebought_and_cancelled
- 310000
- company_shares_at_year_end
- 147699701
- model_fair_market_price_EUR
- 20.6204429
- employee_paid_issue_price_EUR
- 17.5273765
- gross_market_buyback_cash_oku
- 0.0639234
- employee_subscription_cash_inflow_oku
- 0.0245383
- net_cash_funding_need_after_subscriptions_oku
- 0.039385
- annual_SBC_expense_already_deducted_oku
- 0.3113177
- annual_noncash_SBC_addback_oku
- 0.3113177
- old_cohort_pro_rata_tendered_shares
- 297717.3803828
- old_cohort_tender_cash_oku
- 0.0613906
- old_cohort_shares_year_end
- 141847638.91951
- company_distributable_dividend_after_buyback_oku
- 3.3270914
- old_cohort_dividend_after_buyback_oku
- 3.1952676
- old_cohort_total_cash_receipts_oku
- 3.2566582
- old_cohort_fraction_at_year_end
- 0.9603786
- not_in_first_ten_year_holder_cashflows
- はい
- 10
内容を開く
- calendar_year
- 2046
- 状態
illustrative_terminal_continuation_not_announced
- employee_paid_subscription_date_assumed
2046-06-01
- SBC_cashless_delivery_date_assumed
2046-09-15
- company_stock_neutralizing_buyback_date_assumed
2046-11-03
- year_from_2036_term
- 10
- 2036_ownership_cohort_shares_at_year_start
- 141847638.91951
- company_shares_before_new_issue
- 147699701
- cashless_SBC_shares_issued
- 170000
- employee_paid_shares_issued
- 140000
- shares_outstanding_after_issuance
- 148009701
- market_shares_rebought_and_cancelled
- 310000
- company_shares_at_year_end
- 147699701
- model_fair_market_price_EUR
- 20.7441656
- employee_paid_issue_price_EUR
- 17.6325407
- gross_market_buyback_cash_oku
- 0.0643069
- employee_subscription_cash_inflow_oku
- 0.0246856
- net_cash_funding_need_after_subscriptions_oku
- 0.0396214
- annual_SBC_expense_already_deducted_oku
- 0.3131856
- annual_noncash_SBC_addback_oku
- 0.3131856
- old_cohort_pro_rata_tendered_shares
- 297093.8240396
- old_cohort_tender_cash_oku
- 0.0616296
- old_cohort_shares_year_end
- 141550545.09547
- company_distributable_dividend_after_buyback_oku
- 3.347054
- old_cohort_dividend_after_buyback_oku
- 3.2077067
- old_cohort_total_cash_receipts_oku
- 3.2693363
- old_cohort_fraction_at_year_end
- 0.9583672
- not_in_first_ten_year_holder_cashflows
- はい
- later_years_perpetuity_growth_assumption
2037+ q shares per year constant; market fair price and free cash grow at g; subscription price remains 85% of fair price; pro rata tender and cancellation repeat; continuation forecasts are not ten-year timed cashflows
- SBC_non_cash_not_holder_cash_expense
- はい
- sensitivities
内容を開く
- ignore_all_post_2036_share_delivery_counterfactual_incorrect_full_company_oku
- 29.4418598
- ignore_all_post_2036_share_delivery_counterfactual_incorrect_old_cohort_oku
- 28.8139516
- no_repurchase_perpetual_new_issuance_old_cohort_value_oku
- 28.4249218
- no_repurchase_company_equivalent_oku
- 29.0443524
- no_repurchase_intrinsic_2036_price_EUR
- 19.6644626
- no_repurchase_old_ownership_year2037
- 0.9766232
- no_repurchase_old_ownership_year2046
- 0.9585543
- no_repurchase_fixed_new_share_delivery_per_year
- 310000
- no_repurchase_discounted_stream_factor_900_terms
- 8.9849288
- no_repurchase_paid_share_cash_issuance_ratio_to_intrinsic_price
- 0.85
- no_repurchase_formula
Sum_t [(old_2036/(N_2036+t*q))*(FCFE2037+0.85*paid_share_count*P0/1e8)*(1+g)^(t-1)/(1+k)^t]; solve P0=V_company_equiv*1e8/N_2036, no future buybacks; 900-term truncation
- separate_sensitivity_not_added_into_main_IRR
- はい
- excludes_investment_properties_JV_carrying_value_and_cash_double_add
- はい
- horizons
- y10
内容を開く
- 期間内株主受取
- 43.4833484
- 終価
- 28.4139323
- company_total_terminal_mcap_oku
- 29.0331234
- company_terminal_price_EUR
- 19.65686
- old_cohort_ownership_fraction_at_terminal
- 0.9786729
- old_holder_shares_at_terminal
- 144549701
- total_issued_shares_at_terminal
- 147699701
- discounted_old_holder_cashflows_at_coc_oku
- 29.3836417
- discounted_terminal_old_cohort_mcap_at_coc_oku
- 11.4654248
- holder_pv_oku
- 40.8490665
- holder_pv_vs_purchase_cost_oku
- -95.2589319
- holder_IRR
- -0.0837221
- old_cohort_initial_market_value_oku
- 136.1079985
- キャッシュフローの算出方法
timed_holder_cashflows_v1
- 日付別キャッシュフロー
内容を開く
- 1
内容を開く
- 想定日
2026-12-15
- year
- 0.1067762
- 金額
- 0
- 単位
oku_EUR
- 種類
employee_delivery_or_subscription_review
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- いいえ
- original_event_type
employee_option_exercise
- assumed_new_shares
- 30000
- review_only_no_share_change
- はい
- display_revalidation_required
- はい
- planned_not_announced
- はい
- 2
内容を開く
- 想定日
2026-12-15
- year
- 0.1067762
- 金額
- 0
- 単位
oku_EUR
- 種類
employee_option_exercise
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- いいえ
- issued_new_shares
- 30000
- old_shares_before
- 144549701
- old_shares_after
- 144549701
- company_shares_before
- 144549701
- company_shares_after
- 144579701
- issuer_cash_proceeds_oku
- 0.0237283
- noncash_to_old_holder
- はい
- 3
内容を開く
- 想定日
2026-12-16
- year
- 0.109514
- 金額
- 0
- 単位
oku_EUR
- 種類
employee_delivery_or_subscription_review
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- いいえ
- original_event_type
sbc_cashless_share_delivery
- assumed_new_shares
- 20000
- review_only_no_share_change
- はい
- display_revalidation_required
- はい
- planned_not_announced
- はい
- 4
内容を開く
- 想定日
2026-12-16
- year
- 0.109514
- 金額
- 0
- 単位
oku_EUR
- 種類
sbc_cashless_share_delivery
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- いいえ
- issued_new_shares
- 20000
- old_shares_before
- 144549701
- old_shares_after
- 144549701
- company_shares_before
- 144579701
- company_shares_after
- 144599701
- issuer_cash_proceeds_oku
- 0
- expense_already_in_income_and_equity_reserve
- はい
- 5
内容を開く
- 想定日
2026-12-21
- year
- 0.1232033
- 金額
- 0
- 単位
oku_EUR
- 種類
UTC_closing_and_share_issue_review
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- いいえ
- transaction_conditioned
- はい
- assumed_closing
- いいえ
- assumed_new_shares
- 0
- review_only_no_share_change
- はい
- display_revalidation_required
- はい
- planned_not_announced
- はい
- 6
内容を開く
- 想定日
2027-05-14
- year
- 0.5174538
- 金額
- 0
- 単位
oku_EUR
- 種類
dividend_ex_date_review
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- いいえ
- ex_date
2027-05-14
- ex_date_assumed
2027-05-14
- ex_date_confirmed
- 未確認
- payment_date_assumed
2027-05-19
- payment_date_confirmed
- 未確認
- dividend_per_share_EUR
- 4.75
- old_shares_at_ex_date
- 144549701
- company_shares_at_ex_date
- 144599701
- review_only_no_share_change
- はい
- display_revalidation_required
- はい
- planned_not_announced
- はい
- 7
内容を開く
- 想定日
2027-05-19
- year
- 0.5311431
- 金額
- 6.8661108
- 単位
oku_EUR
- 種類
ordinary_dividend
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- はい
- ex_date
2027-05-14
- ex_date_assumed
2027-05-14
- ex_date_confirmed
- 未確認
- ex_date_status
assumed_unannounced
- payment_date
2027-05-19
- payment_date_assumed
2027-05-19
- payment_date_confirmed
- 未確認
- payment_date_status
assumed_unannounced
- fiscal_year
- 2026
- dividend_per_share_EUR
- 4.75
- company_cash_dividend_oku
- 6.8684858
- old_shares_at_ex_date
- 144549701
- company_shares_at_ex_date
- 144599701
- old_share_fraction_at_ex_date
- 0.9996542
- distributive_source_assumption
cash distribution; legal retained earnings or premium source not yet resolved
- date_verification_required
- はい
- 8
内容を開く
- 想定日
2027-06-01
- year
- 0.5667351
- 金額
- 0
- 単位
oku_EUR
- 種類
employee_delivery_or_subscription_review
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- いいえ
- original_event_type
employee_option_exercise_or_savings_plan
- assumed_new_shares
- 140000
- review_only_no_share_change
- はい
- display_revalidation_required
- はい
- planned_not_announced
- はい
- 9
内容を開く
- 想定日
2027-06-01
- year
- 0.5667351
- 金額
- 0
- 単位
oku_EUR
- 種類
employee_option_exercise_or_savings_plan
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- いいえ
- issued_new_shares
- 140000
- old_shares_before
- 144549701
- old_shares_after
- 144549701
- company_shares_before
- 144599701
- company_shares_after
- 144739701
- issuer_cash_proceeds_oku
- 0.1092
- noncash_to_old_holder
- はい
- 10
内容を開く
- 想定日
2027-09-15
- year
- 0.8569473
- 金額
- 0
- 単位
oku_EUR
- 種類
employee_delivery_or_subscription_review
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- いいえ
- original_event_type
sbc_cashless_share_delivery
- assumed_new_shares
- 170000
- review_only_no_share_change
- はい
- display_revalidation_required
- はい
- planned_not_announced
- はい
- 11
内容を開く
- 想定日
2027-09-15
- year
- 0.8569473
- 金額
- 0
- 単位
oku_EUR
- 種類
sbc_cashless_share_delivery
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- いいえ
- issued_new_shares
- 170000
- old_shares_before
- 144549701
- old_shares_after
- 144549701
- company_shares_before
- 144739701
- company_shares_after
- 144909701
- issuer_cash_proceeds_oku
- 0
- expense_already_in_income_and_equity_reserve
- はい
- 12
内容を開く
- 想定日
2027-11-03
- year
- 0.991102
- 金額
- 0
- 単位
oku_EUR
- 種類
buyback_schedule_review
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- いいえ
- assumed_executed
- いいえ
- planned_budget_oku
- 0
- review_only_no_share_change
- はい
- display_revalidation_required
- はい
- planned_not_announced
- はい
- 13
内容を開く
- 想定日
2028-05-15
- year
- 1.522245
- 金額
- 0
- 単位
oku_EUR
- 種類
dividend_ex_date_review
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- いいえ
- ex_date
2028-05-15
- ex_date_assumed
2028-05-15
- ex_date_confirmed
- 未確認
- payment_date_assumed
2028-05-22
- payment_date_confirmed
- 未確認
- dividend_per_share_EUR
- 2.9918256
- old_shares_at_ex_date
- 144549701
- company_shares_at_ex_date
- 144909701
- review_only_no_share_change
- はい
- display_revalidation_required
- はい
- planned_not_announced
- はい
- 14
内容を開く
- 想定日
2028-05-22
- year
- 1.54141
- 金額
- 4.324675
- 単位
oku_EUR
- 種類
ordinary_dividend
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- はい
- ex_date
2028-05-15
- ex_date_assumed
2028-05-15
- ex_date_confirmed
- 未確認
- ex_date_status
assumed_unannounced
- payment_date
2028-05-22
- payment_date_assumed
2028-05-22
- payment_date_confirmed
- 未確認
- payment_date_status
assumed_unannounced
- fiscal_year
- 2027
- dividend_per_share_EUR
- 2.9918256
- company_cash_dividend_oku
- 4.3354456
- old_shares_at_ex_date
- 144549701
- company_shares_at_ex_date
- 144909701
- old_share_fraction_at_ex_date
- 0.9975157
- distributive_source_assumption
cash distribution; legal retained earnings or premium source not yet resolved
- date_verification_required
- はい
- 15
内容を開く
- 想定日
2028-06-01
- year
- 1.5687885
- 金額
- 0
- 単位
oku_EUR
- 種類
employee_delivery_or_subscription_review
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- いいえ
- original_event_type
employee_option_exercise_or_savings_plan
- assumed_new_shares
- 140000
- review_only_no_share_change
- はい
- display_revalidation_required
- はい
- planned_not_announced
- はい
- 16
内容を開く
- 想定日
2028-06-01
- year
- 1.5687885
- 金額
- 0
- 単位
oku_EUR
- 種類
employee_option_exercise_or_savings_plan
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- いいえ
- issued_new_shares
- 140000
- old_shares_before
- 144549701
- old_shares_after
- 144549701
- company_shares_before
- 144909701
- company_shares_after
- 145049701
- issuer_cash_proceeds_oku
- 0.1092
- noncash_to_old_holder
- はい
- 17
内容を開く
- 想定日
2028-09-15
- year
- 1.8590007
- 金額
- 0
- 単位
oku_EUR
- 種類
employee_delivery_or_subscription_review
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- いいえ
- original_event_type
sbc_cashless_share_delivery
- assumed_new_shares
- 170000
- review_only_no_share_change
- はい
- display_revalidation_required
- はい
- planned_not_announced
- はい
- 18
内容を開く
- 想定日
2028-09-15
- year
- 1.8590007
- 金額
- 0
- 単位
oku_EUR
- 種類
sbc_cashless_share_delivery
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- いいえ
- issued_new_shares
- 170000
- old_shares_before
- 144549701
- old_shares_after
- 144549701
- company_shares_before
- 145049701
- company_shares_after
- 145219701
- issuer_cash_proceeds_oku
- 0
- expense_already_in_income_and_equity_reserve
- はい
- 19
内容を開く
- 想定日
2028-11-03
- year
- 1.9931554
- 金額
- 0
- 単位
oku_EUR
- 種類
buyback_schedule_review
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- いいえ
- assumed_executed
- いいえ
- planned_budget_oku
- 0
- review_only_no_share_change
- はい
- display_revalidation_required
- はい
- planned_not_announced
- はい
- 20
内容を開く
- 想定日
2029-05-15
- year
- 2.5215606
- 金額
- 0
- 単位
oku_EUR
- 種類
dividend_ex_date_review
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- いいえ
- ex_date
2029-05-15
- ex_date_assumed
2029-05-15
- ex_date_confirmed
- 未確認
- payment_date_assumed
2029-05-21
- payment_date_confirmed
- 未確認
- dividend_per_share_EUR
- 2.8500388
- old_shares_at_ex_date
- 144549701
- company_shares_at_ex_date
- 145219701
- review_only_no_share_change
- はい
- display_revalidation_required
- はい
- planned_not_announced
- はい
- 21
内容を開く
- 想定日
2029-05-21
- year
- 2.5379877
- 金額
- 4.1197226
- 単位
oku_EUR
- 種類
ordinary_dividend
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- はい
- ex_date
2029-05-15
- ex_date_assumed
2029-05-15
- ex_date_confirmed
- 未確認
- ex_date_status
assumed_unannounced
- payment_date
2029-05-21
- payment_date_assumed
2029-05-21
- payment_date_confirmed
- 未確認
- payment_date_status
assumed_unannounced
- fiscal_year
- 2028
- dividend_per_share_EUR
- 2.8500388
- company_cash_dividend_oku
- 4.1388178
- old_shares_at_ex_date
- 144549701
- company_shares_at_ex_date
- 145219701
- old_share_fraction_at_ex_date
- 0.9953863
- distributive_source_assumption
cash distribution; legal retained earnings or premium source not yet resolved
- date_verification_required
- はい
- 22
内容を開く
- 想定日
2029-06-01
- year
- 2.568104
- 金額
- 0
- 単位
oku_EUR
- 種類
employee_delivery_or_subscription_review
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- いいえ
- original_event_type
employee_option_exercise_or_savings_plan
- assumed_new_shares
- 140000
- review_only_no_share_change
- はい
- display_revalidation_required
- はい
- planned_not_announced
- はい
- 23
内容を開く
- 想定日
2029-06-01
- year
- 2.568104
- 金額
- 0
- 単位
oku_EUR
- 種類
employee_option_exercise_or_savings_plan
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- いいえ
- issued_new_shares
- 140000
- old_shares_before
- 144549701
- old_shares_after
- 144549701
- company_shares_before
- 145219701
- company_shares_after
- 145359701
- issuer_cash_proceeds_oku
- 0.1092
- noncash_to_old_holder
- はい
- 24
内容を開く
- 想定日
2029-09-15
- year
- 2.8583162
- 金額
- 0
- 単位
oku_EUR
- 種類
employee_delivery_or_subscription_review
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- いいえ
- original_event_type
sbc_cashless_share_delivery
- assumed_new_shares
- 170000
- review_only_no_share_change
- はい
- display_revalidation_required
- はい
- planned_not_announced
- はい
- 25
内容を開く
- 想定日
2029-09-15
- year
- 2.8583162
- 金額
- 0
- 単位
oku_EUR
- 種類
sbc_cashless_share_delivery
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- いいえ
- issued_new_shares
- 170000
- old_shares_before
- 144549701
- old_shares_after
- 144549701
- company_shares_before
- 145359701
- company_shares_after
- 145529701
- issuer_cash_proceeds_oku
- 0
- expense_already_in_income_and_equity_reserve
- はい
- 26
内容を開く
- 想定日
2029-11-03
- year
- 2.9924709
- 金額
- 0
- 単位
oku_EUR
- 種類
buyback_schedule_review
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- いいえ
- assumed_executed
- いいえ
- planned_budget_oku
- 0
- review_only_no_share_change
- はい
- display_revalidation_required
- はい
- planned_not_announced
- はい
- 27
内容を開く
- 想定日
2030-05-15
- year
- 3.5208761
- 金額
- 0
- 単位
oku_EUR
- 種類
dividend_ex_date_review
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- いいえ
- ex_date
2030-05-15
- ex_date_assumed
2030-05-15
- ex_date_confirmed
- 未確認
- payment_date_assumed
2030-05-20
- payment_date_confirmed
- 未確認
- dividend_per_share_EUR
- 2.7351883
- old_shares_at_ex_date
- 144549701
- company_shares_at_ex_date
- 145529701
- review_only_no_share_change
- はい
- display_revalidation_required
- はい
- planned_not_announced
- はい
- 28
内容を開く
- 想定日
2030-05-20
- year
- 3.5345654
- 金額
- 3.9537064
- 単位
oku_EUR
- 種類
ordinary_dividend
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- はい
- ex_date
2030-05-15
- ex_date_assumed
2030-05-15
- ex_date_confirmed
- 未確認
- ex_date_status
assumed_unannounced
- payment_date
2030-05-20
- payment_date_assumed
2030-05-20
- payment_date_confirmed
- 未確認
- payment_date_status
assumed_unannounced
- fiscal_year
- 2029
- dividend_per_share_EUR
- 2.7351883
- company_cash_dividend_oku
- 3.9805113
- old_shares_at_ex_date
- 144549701
- company_shares_at_ex_date
- 145529701
- old_share_fraction_at_ex_date
- 0.993266
- distributive_source_assumption
cash distribution; legal retained earnings or premium source not yet resolved
- date_verification_required
- はい
- 29
内容を開く
- 想定日
2030-06-01
- year
- 3.5674196
- 金額
- 0
- 単位
oku_EUR
- 種類
employee_delivery_or_subscription_review
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- いいえ
- original_event_type
employee_option_exercise_or_savings_plan
- assumed_new_shares
- 140000
- review_only_no_share_change
- はい
- display_revalidation_required
- はい
- planned_not_announced
- はい
- 30
内容を開く
- 想定日
2030-06-01
- year
- 3.5674196
- 金額
- 0
- 単位
oku_EUR
- 種類
employee_option_exercise_or_savings_plan
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- いいえ
- issued_new_shares
- 140000
- old_shares_before
- 144549701
- old_shares_after
- 144549701
- company_shares_before
- 145529701
- company_shares_after
- 145669701
- issuer_cash_proceeds_oku
- 0.1092
- noncash_to_old_holder
- はい
- 31
内容を開く
- 想定日
2030-09-15
- year
- 3.8576318
- 金額
- 0
- 単位
oku_EUR
- 種類
employee_delivery_or_subscription_review
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- いいえ
- original_event_type
sbc_cashless_share_delivery
- assumed_new_shares
- 170000
- review_only_no_share_change
- はい
- display_revalidation_required
- はい
- planned_not_announced
- はい
- 32
内容を開く
- 想定日
2030-09-15
- year
- 3.8576318
- 金額
- 0
- 単位
oku_EUR
- 種類
sbc_cashless_share_delivery
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- いいえ
- issued_new_shares
- 170000
- old_shares_before
- 144549701
- old_shares_after
- 144549701
- company_shares_before
- 145669701
- company_shares_after
- 145839701
- issuer_cash_proceeds_oku
- 0
- expense_already_in_income_and_equity_reserve
- はい
- 33
内容を開く
- 想定日
2030-11-03
- year
- 3.9917864
- 金額
- 0
- 単位
oku_EUR
- 種類
buyback_schedule_review
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- いいえ
- assumed_executed
- いいえ
- planned_budget_oku
- 0
- review_only_no_share_change
- はい
- display_revalidation_required
- はい
- planned_not_announced
- はい
- 34
内容を開く
- 想定日
2031-05-15
- year
- 4.5201916
- 金額
- 0
- 単位
oku_EUR
- 種類
dividend_ex_date_review
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- いいえ
- ex_date
2031-05-15
- ex_date_assumed
2031-05-15
- ex_date_confirmed
- 未確認
- payment_date_assumed
2031-05-20
- payment_date_confirmed
- 未確認
- dividend_per_share_EUR
- 2.7793086
- old_shares_at_ex_date
- 144549701
- company_shares_at_ex_date
- 145839701
- review_only_no_share_change
- はい
- display_revalidation_required
- はい
- planned_not_announced
- はい
- 35
内容を開く
- 想定日
2031-05-20
- year
- 4.5338809
- 金額
- 4.0174823
- 単位
oku_EUR
- 種類
ordinary_dividend
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- はい
- ex_date
2031-05-15
- ex_date_assumed
2031-05-15
- ex_date_confirmed
- 未確認
- ex_date_status
assumed_unannounced
- payment_date
2031-05-20
- payment_date_assumed
2031-05-20
- payment_date_confirmed
- 未確認
- payment_date_status
assumed_unannounced
- fiscal_year
- 2030
- dividend_per_share_EUR
- 2.7793086
- company_cash_dividend_oku
- 4.0533354
- old_shares_at_ex_date
- 144549701
- company_shares_at_ex_date
- 145839701
- old_share_fraction_at_ex_date
- 0.9911547
- distributive_source_assumption
cash distribution; legal retained earnings or premium source not yet resolved
- date_verification_required
- はい
- 36
内容を開く
- 想定日
2031-06-01
- year
- 4.5667351
- 金額
- 0
- 単位
oku_EUR
- 種類
employee_delivery_or_subscription_review
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- いいえ
- original_event_type
employee_option_exercise_or_savings_plan
- assumed_new_shares
- 140000
- review_only_no_share_change
- はい
- display_revalidation_required
- はい
- planned_not_announced
- はい
- 37
内容を開く
- 想定日
2031-06-01
- year
- 4.5667351
- 金額
- 0
- 単位
oku_EUR
- 種類
employee_option_exercise_or_savings_plan
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- いいえ
- issued_new_shares
- 140000
- old_shares_before
- 144549701
- old_shares_after
- 144549701
- company_shares_before
- 145839701
- company_shares_after
- 145979701
- issuer_cash_proceeds_oku
- 0.1092
- noncash_to_old_holder
- はい
- 38
内容を開く
- 想定日
2031-09-15
- year
- 4.8569473
- 金額
- 0
- 単位
oku_EUR
- 種類
employee_delivery_or_subscription_review
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- いいえ
- original_event_type
sbc_cashless_share_delivery
- assumed_new_shares
- 170000
- review_only_no_share_change
- はい
- display_revalidation_required
- はい
- planned_not_announced
- はい
- 39
内容を開く
- 想定日
2031-09-15
- year
- 4.8569473
- 金額
- 0
- 単位
oku_EUR
- 種類
sbc_cashless_share_delivery
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- いいえ
- issued_new_shares
- 170000
- old_shares_before
- 144549701
- old_shares_after
- 144549701
- company_shares_before
- 145979701
- company_shares_after
- 146149701
- issuer_cash_proceeds_oku
- 0
- expense_already_in_income_and_equity_reserve
- はい
- 40
内容を開く
- 想定日
2031-11-03
- year
- 4.991102
- 金額
- 0
- 単位
oku_EUR
- 種類
buyback_schedule_review
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- いいえ
- assumed_executed
- いいえ
- planned_budget_oku
- 0
- review_only_no_share_change
- はい
- display_revalidation_required
- はい
- planned_not_announced
- はい
- 41
内容を開く
- 想定日
2032-05-14
- year
- 5.5195072
- 金額
- 0
- 単位
oku_EUR
- 種類
dividend_ex_date_review
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- いいえ
- ex_date
2032-05-14
- ex_date_assumed
2032-05-14
- ex_date_confirmed
- 未確認
- payment_date_assumed
2032-05-19
- payment_date_confirmed
- 未確認
- dividend_per_share_EUR
- 2.7868925
- old_shares_at_ex_date
- 144549701
- company_shares_at_ex_date
- 146149701
- review_only_no_share_change
- はい
- display_revalidation_required
- はい
- planned_not_announced
- はい
- 42
内容を開く
- 想定日
2032-05-19
- year
- 5.5331964
- 金額
- 4.0284448
- 単位
oku_EUR
- 種類
ordinary_dividend
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- はい
- ex_date
2032-05-14
- ex_date_assumed
2032-05-14
- ex_date_confirmed
- 未確認
- ex_date_status
assumed_unannounced
- payment_date
2032-05-19
- payment_date_assumed
2032-05-19
- payment_date_confirmed
- 未確認
- payment_date_status
assumed_unannounced
- fiscal_year
- 2031
- dividend_per_share_EUR
- 2.7868925
- company_cash_dividend_oku
- 4.073035
- old_shares_at_ex_date
- 144549701
- company_shares_at_ex_date
- 146149701
- old_share_fraction_at_ex_date
- 0.9890523
- distributive_source_assumption
cash distribution; legal retained earnings or premium source not yet resolved
- date_verification_required
- はい
- 43
内容を開く
- 想定日
2032-06-01
- year
- 5.5687885
- 金額
- 0
- 単位
oku_EUR
- 種類
employee_delivery_or_subscription_review
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- いいえ
- original_event_type
employee_option_exercise_or_savings_plan
- assumed_new_shares
- 140000
- review_only_no_share_change
- はい
- display_revalidation_required
- はい
- planned_not_announced
- はい
- 44
内容を開く
- 想定日
2032-06-01
- year
- 5.5687885
- 金額
- 0
- 単位
oku_EUR
- 種類
employee_option_exercise_or_savings_plan
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- いいえ
- issued_new_shares
- 140000
- old_shares_before
- 144549701
- old_shares_after
- 144549701
- company_shares_before
- 146149701
- company_shares_after
- 146289701
- issuer_cash_proceeds_oku
- 0.1092
- noncash_to_old_holder
- はい
- 45
内容を開く
- 想定日
2032-09-15
- year
- 5.8590007
- 金額
- 0
- 単位
oku_EUR
- 種類
employee_delivery_or_subscription_review
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- いいえ
- original_event_type
sbc_cashless_share_delivery
- assumed_new_shares
- 170000
- review_only_no_share_change
- はい
- display_revalidation_required
- はい
- planned_not_announced
- はい
- 46
内容を開く
- 想定日
2032-09-15
- year
- 5.8590007
- 金額
- 0
- 単位
oku_EUR
- 種類
sbc_cashless_share_delivery
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- いいえ
- issued_new_shares
- 170000
- old_shares_before
- 144549701
- old_shares_after
- 144549701
- company_shares_before
- 146289701
- company_shares_after
- 146459701
- issuer_cash_proceeds_oku
- 0
- expense_already_in_income_and_equity_reserve
- はい
- 47
内容を開く
- 想定日
2032-11-03
- year
- 5.9931554
- 金額
- 0
- 単位
oku_EUR
- 種類
buyback_schedule_review
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- いいえ
- assumed_executed
- いいえ
- planned_budget_oku
- 0
- review_only_no_share_change
- はい
- display_revalidation_required
- はい
- planned_not_announced
- はい
- 48
内容を開く
- 想定日
2033-05-13
- year
- 6.5160849
- 金額
- 0
- 単位
oku_EUR
- 種類
dividend_ex_date_review
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- いいえ
- ex_date
2033-05-13
- ex_date_assumed
2033-05-13
- ex_date_confirmed
- 未確認
- payment_date_assumed
2033-05-18
- payment_date_confirmed
- 未確認
- dividend_per_share_EUR
- 2.7924882
- old_shares_at_ex_date
- 144549701
- company_shares_at_ex_date
- 146459701
- review_only_no_share_change
- はい
- display_revalidation_required
- はい
- planned_not_announced
- はい
- 49
内容を開く
- 想定日
2033-05-18
- year
- 6.5297741
- 金額
- 4.0365333
- 単位
oku_EUR
- 種類
ordinary_dividend
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- はい
- ex_date
2033-05-13
- ex_date_assumed
2033-05-13
- ex_date_confirmed
- 未確認
- ex_date_status
assumed_unannounced
- payment_date
2033-05-18
- payment_date_assumed
2033-05-18
- payment_date_confirmed
- 未確認
- payment_date_status
assumed_unannounced
- fiscal_year
- 2032
- dividend_per_share_EUR
- 2.7924882
- company_cash_dividend_oku
- 4.0898698
- old_shares_at_ex_date
- 144549701
- company_shares_at_ex_date
- 146459701
- old_share_fraction_at_ex_date
- 0.9869589
- distributive_source_assumption
cash distribution; legal retained earnings or premium source not yet resolved
- date_verification_required
- はい
- 50
内容を開く
- 想定日
2033-06-01
- year
- 6.568104
- 金額
- 0
- 単位
oku_EUR
- 種類
employee_delivery_or_subscription_review
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- いいえ
- original_event_type
employee_option_exercise_or_savings_plan
- assumed_new_shares
- 140000
- review_only_no_share_change
- はい
- display_revalidation_required
- はい
- planned_not_announced
- はい
- 51
内容を開く
- 想定日
2033-06-01
- year
- 6.568104
- 金額
- 0
- 単位
oku_EUR
- 種類
employee_option_exercise_or_savings_plan
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- いいえ
- issued_new_shares
- 140000
- old_shares_before
- 144549701
- old_shares_after
- 144549701
- company_shares_before
- 146459701
- company_shares_after
- 146599701
- issuer_cash_proceeds_oku
- 0.1092
- noncash_to_old_holder
- はい
- 52
内容を開く
- 想定日
2033-09-15
- year
- 6.8583162
- 金額
- 0
- 単位
oku_EUR
- 種類
employee_delivery_or_subscription_review
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- いいえ
- original_event_type
sbc_cashless_share_delivery
- assumed_new_shares
- 170000
- review_only_no_share_change
- はい
- display_revalidation_required
- はい
- planned_not_announced
- はい
- 53
内容を開く
- 想定日
2033-09-15
- year
- 6.8583162
- 金額
- 0
- 単位
oku_EUR
- 種類
sbc_cashless_share_delivery
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- いいえ
- issued_new_shares
- 170000
- old_shares_before
- 144549701
- old_shares_after
- 144549701
- company_shares_before
- 146599701
- company_shares_after
- 146769701
- issuer_cash_proceeds_oku
- 0
- expense_already_in_income_and_equity_reserve
- はい
- 54
内容を開く
- 想定日
2033-11-03
- year
- 6.9924709
- 金額
- 0
- 単位
oku_EUR
- 種類
buyback_schedule_review
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- いいえ
- assumed_executed
- いいえ
- planned_budget_oku
- 0
- review_only_no_share_change
- はい
- display_revalidation_required
- はい
- planned_not_announced
- はい
- 55
内容を開く
- 想定日
2034-05-15
- year
- 7.5208761
- 金額
- 0
- 単位
oku_EUR
- 種類
dividend_ex_date_review
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- いいえ
- ex_date
2034-05-15
- ex_date_assumed
2034-05-15
- ex_date_confirmed
- 未確認
- payment_date_assumed
2034-05-22
- payment_date_confirmed
- 未確認
- dividend_per_share_EUR
- 2.796621
- old_shares_at_ex_date
- 144549701
- company_shares_at_ex_date
- 146769701
- review_only_no_share_change
- はい
- display_revalidation_required
- はい
- planned_not_announced
- はい
- 56
内容を開く
- 想定日
2034-05-22
- year
- 7.5400411
- 金額
- 4.0425073
- 単位
oku_EUR
- 種類
ordinary_dividend
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- はい
- ex_date
2034-05-15
- ex_date_assumed
2034-05-15
- ex_date_confirmed
- 未確認
- ex_date_status
assumed_unannounced
- payment_date
2034-05-22
- payment_date_assumed
2034-05-22
- payment_date_confirmed
- 未確認
- payment_date_status
assumed_unannounced
- fiscal_year
- 2033
- dividend_per_share_EUR
- 2.796621
- company_cash_dividend_oku
- 4.1045923
- old_shares_at_ex_date
- 144549701
- company_shares_at_ex_date
- 146769701
- old_share_fraction_at_ex_date
- 0.9848743
- distributive_source_assumption
cash distribution; legal retained earnings or premium source not yet resolved
- date_verification_required
- はい
- 57
内容を開く
- 想定日
2034-06-01
- year
- 7.5674196
- 金額
- 0
- 単位
oku_EUR
- 種類
employee_delivery_or_subscription_review
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- いいえ
- original_event_type
employee_option_exercise_or_savings_plan
- assumed_new_shares
- 140000
- review_only_no_share_change
- はい
- display_revalidation_required
- はい
- planned_not_announced
- はい
- 58
内容を開く
- 想定日
2034-06-01
- year
- 7.5674196
- 金額
- 0
- 単位
oku_EUR
- 種類
employee_option_exercise_or_savings_plan
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- いいえ
- issued_new_shares
- 140000
- old_shares_before
- 144549701
- old_shares_after
- 144549701
- company_shares_before
- 146769701
- company_shares_after
- 146909701
- issuer_cash_proceeds_oku
- 0.1092
- noncash_to_old_holder
- はい
- 59
内容を開く
- 想定日
2034-09-15
- year
- 7.8576318
- 金額
- 0
- 単位
oku_EUR
- 種類
employee_delivery_or_subscription_review
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- いいえ
- original_event_type
sbc_cashless_share_delivery
- assumed_new_shares
- 170000
- review_only_no_share_change
- はい
- display_revalidation_required
- はい
- planned_not_announced
- はい
- 60
内容を開く
- 想定日
2034-09-15
- year
- 7.8576318
- 金額
- 0
- 単位
oku_EUR
- 種類
sbc_cashless_share_delivery
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- いいえ
- issued_new_shares
- 170000
- old_shares_before
- 144549701
- old_shares_after
- 144549701
- company_shares_before
- 146909701
- company_shares_after
- 147079701
- issuer_cash_proceeds_oku
- 0
- expense_already_in_income_and_equity_reserve
- はい
- 61
内容を開く
- 想定日
2034-11-03
- year
- 7.9917864
- 金額
- 0
- 単位
oku_EUR
- 種類
buyback_schedule_review
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- いいえ
- assumed_executed
- いいえ
- planned_budget_oku
- 0
- review_only_no_share_change
- はい
- display_revalidation_required
- はい
- planned_not_announced
- はい
- 62
内容を開く
- 想定日
2035-05-15
- year
- 8.5201916
- 金額
- 0
- 単位
oku_EUR
- 種類
dividend_ex_date_review
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- いいえ
- ex_date
2035-05-15
- ex_date_assumed
2035-05-15
- ex_date_confirmed
- 未確認
- payment_date_assumed
2035-05-21
- payment_date_confirmed
- 未確認
- dividend_per_share_EUR
- 2.7992499
- old_shares_at_ex_date
- 144549701
- company_shares_at_ex_date
- 147079701
- review_only_no_share_change
- はい
- display_revalidation_required
- はい
- planned_not_announced
- はい
- 63
内容を開く
- 想定日
2035-05-21
- year
- 8.5366188
- 金額
- 4.0463073
- 単位
oku_EUR
- 種類
ordinary_dividend
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- はい
- ex_date
2035-05-15
- ex_date_assumed
2035-05-15
- ex_date_confirmed
- 未確認
- ex_date_status
assumed_unannounced
- payment_date
2035-05-21
- payment_date_assumed
2035-05-21
- payment_date_confirmed
- 未確認
- payment_date_status
assumed_unannounced
- fiscal_year
- 2034
- dividend_per_share_EUR
- 2.7992499
- company_cash_dividend_oku
- 4.1171284
- old_shares_at_ex_date
- 144549701
- company_shares_at_ex_date
- 147079701
- old_share_fraction_at_ex_date
- 0.9827984
- distributive_source_assumption
cash distribution; legal retained earnings or premium source not yet resolved
- date_verification_required
- はい
- 64
内容を開く
- 想定日
2035-06-01
- year
- 8.5667351
- 金額
- 0
- 単位
oku_EUR
- 種類
employee_delivery_or_subscription_review
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- いいえ
- original_event_type
employee_option_exercise_or_savings_plan
- assumed_new_shares
- 140000
- review_only_no_share_change
- はい
- display_revalidation_required
- はい
- planned_not_announced
- はい
- 65
内容を開く
- 想定日
2035-06-01
- year
- 8.5667351
- 金額
- 0
- 単位
oku_EUR
- 種類
employee_option_exercise_or_savings_plan
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- いいえ
- issued_new_shares
- 140000
- old_shares_before
- 144549701
- old_shares_after
- 144549701
- company_shares_before
- 147079701
- company_shares_after
- 147219701
- issuer_cash_proceeds_oku
- 0.1092
- noncash_to_old_holder
- はい
- 66
内容を開く
- 想定日
2035-09-15
- year
- 8.8569473
- 金額
- 0
- 単位
oku_EUR
- 種類
employee_delivery_or_subscription_review
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- いいえ
- original_event_type
sbc_cashless_share_delivery
- assumed_new_shares
- 170000
- review_only_no_share_change
- はい
- display_revalidation_required
- はい
- planned_not_announced
- はい
- 67
内容を開く
- 想定日
2035-09-15
- year
- 8.8569473
- 金額
- 0
- 単位
oku_EUR
- 種類
sbc_cashless_share_delivery
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- いいえ
- issued_new_shares
- 170000
- old_shares_before
- 144549701
- old_shares_after
- 144549701
- company_shares_before
- 147219701
- company_shares_after
- 147389701
- issuer_cash_proceeds_oku
- 0
- expense_already_in_income_and_equity_reserve
- はい
- 68
内容を開く
- 想定日
2035-11-03
- year
- 8.991102
- 金額
- 0
- 単位
oku_EUR
- 種類
buyback_schedule_review
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- いいえ
- assumed_executed
- いいえ
- planned_budget_oku
- 0
- review_only_no_share_change
- はい
- display_revalidation_required
- はい
- planned_not_announced
- はい
- 69
内容を開く
- 想定日
2036-05-15
- year
- 9.522245
- 金額
- 0
- 単位
oku_EUR
- 種類
dividend_ex_date_review
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- いいえ
- ex_date
2036-05-15
- ex_date_assumed
2036-05-15
- ex_date_confirmed
- 未確認
- payment_date_assumed
2036-05-20
- payment_date_confirmed
- 未確認
- dividend_per_share_EUR
- 2.8003231
- old_shares_at_ex_date
- 144549701
- company_shares_at_ex_date
- 147389701
- review_only_no_share_change
- はい
- display_revalidation_required
- はい
- planned_not_announced
- はい
- 70
内容を開く
- 想定日
2036-05-20
- year
- 9.5359343
- 金額
- 4.0478586
- 単位
oku_EUR
- 種類
ordinary_dividend
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- はい
- ex_date
2036-05-15
- ex_date_assumed
2036-05-15
- ex_date_confirmed
- 未確認
- ex_date_status
assumed_unannounced
- payment_date
2036-05-20
- payment_date_assumed
2036-05-20
- payment_date_confirmed
- 未確認
- payment_date_status
assumed_unannounced
- fiscal_year
- 2035
- dividend_per_share_EUR
- 2.8003231
- company_cash_dividend_oku
- 4.1273878
- old_shares_at_ex_date
- 144549701
- company_shares_at_ex_date
- 147389701
- old_share_fraction_at_ex_date
- 0.9807314
- distributive_source_assumption
cash distribution; legal retained earnings or premium source not yet resolved
- date_verification_required
- はい
- 71
内容を開く
- 想定日
2036-06-01
- year
- 9.5687885
- 金額
- 0
- 単位
oku_EUR
- 種類
employee_delivery_or_subscription_review
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- いいえ
- original_event_type
employee_option_exercise_or_savings_plan
- assumed_new_shares
- 140000
- review_only_no_share_change
- はい
- display_revalidation_required
- はい
- planned_not_announced
- はい
- 72
内容を開く
- 想定日
2036-06-01
- year
- 9.5687885
- 金額
- 0
- 単位
oku_EUR
- 種類
employee_option_exercise_or_savings_plan
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- いいえ
- issued_new_shares
- 140000
- old_shares_before
- 144549701
- old_shares_after
- 144549701
- company_shares_before
- 147389701
- company_shares_after
- 147529701
- issuer_cash_proceeds_oku
- 0.1092
- noncash_to_old_holder
- はい
- 73
内容を開く
- 想定日
2036-09-15
- year
- 9.8590007
- 金額
- 0
- 単位
oku_EUR
- 種類
employee_delivery_or_subscription_review
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- いいえ
- original_event_type
sbc_cashless_share_delivery
- assumed_new_shares
- 170000
- review_only_no_share_change
- はい
- display_revalidation_required
- はい
- planned_not_announced
- はい
- 74
内容を開く
- 想定日
2036-09-15
- year
- 9.8590007
- 金額
- 0
- 単位
oku_EUR
- 種類
sbc_cashless_share_delivery
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- いいえ
- issued_new_shares
- 170000
- old_shares_before
- 144549701
- old_shares_after
- 144549701
- company_shares_before
- 147529701
- company_shares_after
- 147699701
- issuer_cash_proceeds_oku
- 0
- expense_already_in_income_and_equity_reserve
- はい
- 75
内容を開く
- 想定日
2036-11-03
- year
- 9.9931554
- 金額
- 0
- 単位
oku_EUR
- 種類
buyback_schedule_review
- 状態
model_assumption_not_announced
- cash_to_old_cohort
- いいえ
- assumed_executed
- いいえ
- planned_budget_oku
- 0
- review_only_no_share_change
- はい
- display_revalidation_required
- はい
- planned_not_announced
- はい
- old_holder_economics
内容を開く
- tender_policy
all_existing_holders_including_original_2026_11_06_cohort_tender_pro_rata_at_each_repurchase
- share_issuance_treatment
all employee/UTC noncash and consideration issuance dilutes original cohort; no negative fictitious shareholder CF
- old_holder_realized_payout_oku
- 43.4833484
- terminal_old_cohort_mcap_oku
- 28.4139323
- final_old_holder_share_fraction
- 0.9786729
- paid_2025_dividend_excluded_from_forward_cashflows
- はい
- scenario_horizon_assessment
内容を開く
- terminal_2037plus_employee_events_are_future_inputs_not_10year_cash_payouts
- はい
- terminal_2037plus_tender_is_pro_rata_like_2026to2036
- はい
- ten_year_terminal_not_2036_12_31
- はい
- includes_2036_01_01_to_2036_11_06_stub_only
- はい
- excludes_2036_11_07_and_later
- はい
- price_buyback_assumptions_not_terminal_market_multiple
- はい
- 売上高
- 22.259583903909
- 営業利益
- 15.90618325796
- 純利益
- 7.9569145047561
- equity_oku
- 170.2759838
- 期間内の親会社利益合計（億）
- 51.454488
- 期間内株主受取
- 43.4833484
- 終価
- 28.4139323
- multiple
- kind
owner_fcfe
- why
継続賃料・必要投資・非支配・株式交付の資金を反映する株主持分CF。
- detail
内容を開く
- 方法
post_2036_pro_rata_tender_stock_neutral_emissions_nci_ringfenced_FCFE_geometric_perpetuity_not_market_multiple
- annualized_2036_recurring_IFRS_parent_profit_oku
- 8.8283864
- annualized_JV_recurring_income_eliminated_oku
- 1.401135
- annualized_JV_dividends_received_oku
- 1.34
- annualized_NCI_profits_added_back_oku
- 0.244981
- annualized_NCI_dividends_deducted_oku
- 0.1714867
- annualized_NCI_dividends_actually_modelled_2036_oku
- 0.8
- annualized_non_cash_SBC_addback_oku
- 0.295
- annualized_depreciation_addback_oku
- 0.5
- annualized_working_capital_use_oku
- 0.5
- annualized_hybrid_coupon_oku
- 0.72
- owner_operating_cash_before_reinvestment_oku
- 8.3900226
- group_operating_cash_before_reinvestment_after_NCI_dividend_oku
- 8.4157456
- NCI_cash_earmarked_not_parent_oku
- 0.025723
- terminal_maintenance_capex_per_year_oku
- 2.85
- terminal_growth_reinvestment_per_year_oku
- 2.35
- sustainable_distributable_owner_FCFE_before_growth_oku
- 3.1900226
- next_year_perpetual_growth_g
- 0.006
- perpetual_equity_cost_k
- 0.115
- next_year_owner_FCFE_oku
- 3.2091627
- terminal_company_common_equity_value_oku
- 29.0331234
- terminal_old_cohort_value_oku
- 28.4139323
- cashflow_vs_debt
equity-FCFE is after interest, lease and nonordinary funding assumptions; no re-subtraction of net debt
- NCI_bridge
内容を開く
- annualized_2036_NCI_IFRS_recurring_result_oku
- 0.244981
- historical_model_2036_NCI_cash_distribution_annualized_oku
- 0.8
- historical_model_2036_distribution_vs_result_ratio
- 3.2655595
- normalized_2037plus_NCI_distribution_to_recurring_result_ratio
- 0.7
- normalized_2036_NCI_dividend_oku
- 0.1714867
- normalized_2036_NCI_profit_retained_oku
- 0.0734943
- NCI_retained_profit_reinvested_within_consolidated_gross_capex_ratio
- 0.65
- NCI_capex_allocation_included_in_gross_capex_oku
- 0.0477713
- NCI_ringfenced_cash_reserve_oku
- 0.025723
- NCI_reserved_claim_reconciliation_oku
- 0
- group_cash_before_capex_after_NCI_distributions_oku
- 8.4157456
- group_cash_after_gross_capex_oku
- 3.2157456
- owner_common_cash_after_NCI_cash_reserve_oku
- 3.1900226
- owner_common_direct_parent_profit_approach_oku
- 3.1900226
- NCI_equity_end_2036_oku
- 34.8128487
- NCI_equity_forward_2037_oku
- 34.886784
- NCI_equity_reinvested_and_earmarked_to_NCI_only
- はい
- NCI_market_NAV_added_to_common_value_oku
- 0
- NCI_future_2037_2046_projection
内容を開く
- 1
内容を開く
- year
- 2037
- 状態
terminal_projection_not_reported
- NCI_equity_open_oku
- 34.8128487
- NCI_profit_oku
- 0.2464509
- NCI_payout_ratio
- 0.7
- NCI_distribution_cash_oku
- 0.1725156
- NCI_reinvested_in_existing_gross_capex_oku
- 0.0480579
- NCI_ringfenced_cash_oku
- 0.0258773
- NCI_total_retained_oku
- 0.0739353
- NCI_equity_close_oku
- 34.886784
- included_in_parent_common_equity_value_as_separate_NAV
- いいえ
- 2
内容を開く
- year
- 2038
- 状態
terminal_projection_not_reported
- NCI_equity_open_oku
- 34.886784
- NCI_profit_oku
- 0.2479296
- NCI_payout_ratio
- 0.7
- NCI_distribution_cash_oku
- 0.1735507
- NCI_reinvested_in_existing_gross_capex_oku
- 0.0483463
- NCI_ringfenced_cash_oku
- 0.0260326
- NCI_total_retained_oku
- 0.0743789
- NCI_equity_close_oku
- 34.9611628
- included_in_parent_common_equity_value_as_separate_NAV
- いいえ
- 3
内容を開く
- year
- 2039
- 状態
terminal_projection_not_reported
- NCI_equity_open_oku
- 34.9611628
- NCI_profit_oku
- 0.2494171
- NCI_payout_ratio
- 0.7
- NCI_distribution_cash_oku
- 0.174592
- NCI_reinvested_in_existing_gross_capex_oku
- 0.0486363
- NCI_ringfenced_cash_oku
- 0.0261888
- NCI_total_retained_oku
- 0.0748251
- NCI_equity_close_oku
- 35.035988
- included_in_parent_common_equity_value_as_separate_NAV
- いいえ
- 4
内容を開く
- year
- 2040
- 状態
terminal_projection_not_reported
- NCI_equity_open_oku
- 35.035988
- NCI_profit_oku
- 0.2509136
- NCI_payout_ratio
- 0.7
- NCI_distribution_cash_oku
- 0.1756396
- NCI_reinvested_in_existing_gross_capex_oku
- 0.0489282
- NCI_ringfenced_cash_oku
- 0.0263459
- NCI_total_retained_oku
- 0.0752741
- NCI_equity_close_oku
- 35.1112621
- included_in_parent_common_equity_value_as_separate_NAV
- いいえ
- 5
内容を開く
- year
- 2041
- 状態
terminal_projection_not_reported
- NCI_equity_open_oku
- 35.1112621
- NCI_profit_oku
- 0.2524191
- NCI_payout_ratio
- 0.7
- NCI_distribution_cash_oku
- 0.1766934
- NCI_reinvested_in_existing_gross_capex_oku
- 0.0492217
- NCI_ringfenced_cash_oku
- 0.026504
- NCI_total_retained_oku
- 0.0757257
- NCI_equity_close_oku
- 35.1869878
- included_in_parent_common_equity_value_as_separate_NAV
- いいえ
- 6
内容を開く
- year
- 2042
- 状態
terminal_projection_not_reported
- NCI_equity_open_oku
- 35.1869878
- NCI_profit_oku
- 0.2539336
- NCI_payout_ratio
- 0.7
- NCI_distribution_cash_oku
- 0.1777536
- NCI_reinvested_in_existing_gross_capex_oku
- 0.0495171
- NCI_ringfenced_cash_oku
- 0.026663
- NCI_total_retained_oku
- 0.0761801
- NCI_equity_close_oku
- 35.2631679
- included_in_parent_common_equity_value_as_separate_NAV
- いいえ
- 7
内容を開く
- year
- 2043
- 状態
terminal_projection_not_reported
- NCI_equity_open_oku
- 35.2631679
- NCI_profit_oku
- 0.2554572
- NCI_payout_ratio
- 0.7
- NCI_distribution_cash_oku
- 0.1788201
- NCI_reinvested_in_existing_gross_capex_oku
- 0.0498142
- NCI_ringfenced_cash_oku
- 0.026823
- NCI_total_retained_oku
- 0.0766372
- NCI_equity_close_oku
- 35.3398051
- included_in_parent_common_equity_value_as_separate_NAV
- いいえ
- 8
内容を開く
- year
- 2044
- 状態
terminal_projection_not_reported
- NCI_equity_open_oku
- 35.3398051
- NCI_profit_oku
- 0.25699
- NCI_payout_ratio
- 0.7
- NCI_distribution_cash_oku
- 0.179893
- NCI_reinvested_in_existing_gross_capex_oku
- 0.050113
- NCI_ringfenced_cash_oku
- 0.0269839
- NCI_total_retained_oku
- 0.077097
- NCI_equity_close_oku
- 35.4169021
- included_in_parent_common_equity_value_as_separate_NAV
- いいえ
- 9
内容を開く
- year
- 2045
- 状態
terminal_projection_not_reported
- NCI_equity_open_oku
- 35.4169021
- NCI_profit_oku
- 0.2585319
- NCI_payout_ratio
- 0.7
- NCI_distribution_cash_oku
- 0.1809723
- NCI_reinvested_in_existing_gross_capex_oku
- 0.0504137
- NCI_ringfenced_cash_oku
- 0.0271459
- NCI_total_retained_oku
- 0.0775596
- NCI_equity_close_oku
- 35.4944616
- included_in_parent_common_equity_value_as_separate_NAV
- いいえ
- 10
内容を開く
- year
- 2046
- 状態
terminal_projection_not_reported
- NCI_equity_open_oku
- 35.4944616
- NCI_profit_oku
- 0.2600831
- NCI_payout_ratio
- 0.7
- NCI_distribution_cash_oku
- 0.1820582
- NCI_reinvested_in_existing_gross_capex_oku
- 0.0507162
- NCI_ringfenced_cash_oku
- 0.0273087
- NCI_total_retained_oku
- 0.0780249
- NCI_equity_close_oku
- 35.5724866
- included_in_parent_common_equity_value_as_separate_NAV
- いいえ
- disclosure
NCI retained earnings are either reinvested in consolidated capex or ringfenced cash; neither enters common parent value as asset/NAV. Proceeds from NCI disposals not extrapolated into parent cash.
- post_2036_SBC_dilution_or_repurchase
内容を開く
- model
2037plus_pro_rata_tender_share_neutral_same_policy_as_2027to2036
- SBC_expense_already_in_income_and_added_back_2036_oku
- 0.295
- SBC_expense_assumed_2037_oku
- 0.29677
- 2037_SBC_cashless_delivery_shares
- 170000
- 2037_employee_cash_subscribed_shares
- 140000
- 2037_total_shares_issued
- 310000
- 2037_assumed_stock_market_price_EUR
- 19.65686
- 2037_hypothetical_employee_subscription_market_price_ratio
- 0.85
- 2037_employee_subscription_price_EUR
- 16.708331
- 2037_gross_repurchase_shares_for_stock_neutrality
- 310000
- 2037_gross_market_repurchase_cash_oku
- 0.0609363
- 2037_employee_subscription_cash_inflow_oku
- 0.0233917
- 2037_net_company_repurchase_funding_oku
- 0.0375446
- 2037_net_repurchase_funding_minus_SBC_expense_oku
- -0.2592254
- 2037_group_common_FCFE_before_future_issue_funding_oku
- 3.2091627
- 2037_company_cash_dividend_after_funding_oku
- 3.1716181
- 2037_old_cohort_proportional_tender_shares
- 302753.1777123
- 2037_old_cohort_tender_proceeds_oku
- 0.0595118
- 2037_old_cohort_cash_dividend_oku
- 3.0974757
- 2037_old_cohort_combined_cash_oku
- 3.1569875
- 2037_old_cohort_shares_after_tender
- 144246947.82229
- 2037_old_cohort_share_factor_per_year
- 0.9979055
- future_fair_price_growth_g
- 0.006
- terminal_share_issuance_denominator_addon_vs_no_future_shares
- 0.0015345
- perpetuity_denominator
- 0.1105345
- valuation_formula
2036 equivalent company value = F2037 / [(k-g)+((1+k)*(N_free+N_paid)-discount*N_paid)/N_2036]. Old cohort value = value*(old_shares_2036/N_2036). A proportional tender gets back repurchase cash, hence its tender CF must not be separately penalized after shrinking its cohort shares.
- cohort_cash_2037_reconciliation
O/(N+q)*(FCFE2037+employee_subscription_cash) = O/(N+q)*(FCFE2037+employee_subscription_cash-gross_buyback_cash) + O/(N+q)*gross_buyback_cash
- share_neutrality_is_company_share_count_only_not_automatic_old_cohort_ownership_neutrality
- はい
- year_2037_to_2046_explanation_ledger
内容を開く
- 1
内容を開く
- calendar_year
- 2037
- 状態
illustrative_terminal_continuation_not_announced
- employee_paid_subscription_date_assumed
2037-06-01
- SBC_cashless_delivery_date_assumed
2037-09-15
- company_stock_neutralizing_buyback_date_assumed
2037-11-03
- year_from_2036_term
- 1
- 2036_ownership_cohort_shares_at_year_start
- 144549701
- company_shares_before_new_issue
- 147699701
- cashless_SBC_shares_issued
- 170000
- employee_paid_shares_issued
- 140000
- shares_outstanding_after_issuance
- 148009701
- market_shares_rebought_and_cancelled
- 310000
- company_shares_at_year_end
- 147699701
- model_fair_market_price_EUR
- 19.65686
- employee_paid_issue_price_EUR
- 16.708331
- gross_market_buyback_cash_oku
- 0.0609363
- employee_subscription_cash_inflow_oku
- 0.0233917
- net_cash_funding_need_after_subscriptions_oku
- 0.0375446
- annual_SBC_expense_already_deducted_oku
- 0.29677
- annual_noncash_SBC_addback_oku
- 0.29677
- old_cohort_pro_rata_tendered_shares
- 302753.1777123
- old_cohort_tender_cash_oku
- 0.0595118
- old_cohort_shares_year_end
- 144246947.82229
- company_distributable_dividend_after_buyback_oku
- 3.1716181
- old_cohort_dividend_after_buyback_oku
- 3.0974757
- old_cohort_total_cash_receipts_oku
- 3.1569875
- old_cohort_fraction_at_year_end
- 0.9766232
- not_in_first_ten_year_holder_cashflows
- はい
- 2
内容を開く
- calendar_year
- 2038
- 状態
illustrative_terminal_continuation_not_announced
- employee_paid_subscription_date_assumed
2038-06-01
- SBC_cashless_delivery_date_assumed
2038-09-15
- company_stock_neutralizing_buyback_date_assumed
2038-11-03
- year_from_2036_term
- 2
- 2036_ownership_cohort_shares_at_year_start
- 144246947.82229
- company_shares_before_new_issue
- 147699701
- cashless_SBC_shares_issued
- 170000
- employee_paid_shares_issued
- 140000
- shares_outstanding_after_issuance
- 148009701
- market_shares_rebought_and_cancelled
- 310000
- company_shares_at_year_end
- 147699701
- model_fair_market_price_EUR
- 19.7748011
- employee_paid_issue_price_EUR
- 16.808581
- gross_market_buyback_cash_oku
- 0.0613019
- employee_subscription_cash_inflow_oku
- 0.023532
- net_cash_funding_need_after_subscriptions_oku
- 0.0377699
- annual_SBC_expense_already_deducted_oku
- 0.2985506
- annual_noncash_SBC_addback_oku
- 0.2985506
- old_cohort_pro_rata_tendered_shares
- 302119.0741066
- old_cohort_tender_cash_oku
- 0.0597434
- old_cohort_shares_year_end
- 143944828.74818
- company_distributable_dividend_after_buyback_oku
- 3.1906478
- old_cohort_dividend_after_buyback_oku
- 3.1095341
- old_cohort_total_cash_receipts_oku
- 3.1692775
- old_cohort_fraction_at_year_end
- 0.9745777
- not_in_first_ten_year_holder_cashflows
- はい
- 3
内容を開く
- calendar_year
- 2039
- 状態
illustrative_terminal_continuation_not_announced
- employee_paid_subscription_date_assumed
2039-06-01
- SBC_cashless_delivery_date_assumed
2039-09-15
- company_stock_neutralizing_buyback_date_assumed
2039-11-03
- year_from_2036_term
- 3
- 2036_ownership_cohort_shares_at_year_start
- 143944828.74818
- company_shares_before_new_issue
- 147699701
- cashless_SBC_shares_issued
- 170000
- employee_paid_shares_issued
- 140000
- shares_outstanding_after_issuance
- 148009701
- market_shares_rebought_and_cancelled
- 310000
- company_shares_at_year_end
- 147699701
- model_fair_market_price_EUR
- 19.8934499
- employee_paid_issue_price_EUR
- 16.9094324
- gross_market_buyback_cash_oku
- 0.0616697
- employee_subscription_cash_inflow_oku
- 0.0236732
- net_cash_funding_need_after_subscriptions_oku
- 0.0379965
- annual_SBC_expense_already_deducted_oku
- 0.3003419
- annual_noncash_SBC_addback_oku
- 0.3003419
- old_cohort_pro_rata_tendered_shares
- 301486.2986037
- old_cohort_tender_cash_oku
- 0.059976
- old_cohort_shares_year_end
- 143643342.44958
- company_distributable_dividend_after_buyback_oku
- 3.2097917
- old_cohort_dividend_after_buyback_oku
- 3.1216394
- old_cohort_total_cash_receipts_oku
- 3.1816155
- old_cohort_fraction_at_year_end
- 0.9725364
- not_in_first_ten_year_holder_cashflows
- はい
- 4
内容を開く
- calendar_year
- 2040
- 状態
illustrative_terminal_continuation_not_announced
- employee_paid_subscription_date_assumed
2040-06-01
- SBC_cashless_delivery_date_assumed
2040-09-15
- company_stock_neutralizing_buyback_date_assumed
2040-11-03
- year_from_2036_term
- 4
- 2036_ownership_cohort_shares_at_year_start
- 143643342.44958
- company_shares_before_new_issue
- 147699701
- cashless_SBC_shares_issued
- 170000
- employee_paid_shares_issued
- 140000
- shares_outstanding_after_issuance
- 148009701
- market_shares_rebought_and_cancelled
- 310000
- company_shares_at_year_end
- 147699701
- model_fair_market_price_EUR
- 20.0128106
- employee_paid_issue_price_EUR
- 17.010889
- gross_market_buyback_cash_oku
- 0.0620397
- employee_subscription_cash_inflow_oku
- 0.0238152
- net_cash_funding_need_after_subscriptions_oku
- 0.0382245
- annual_SBC_expense_already_deducted_oku
- 0.302144
- annual_noncash_SBC_addback_oku
- 0.302144
- old_cohort_pro_rata_tendered_shares
- 300854.8484222
- old_cohort_tender_cash_oku
- 0.0602095
- old_cohort_shares_year_end
- 143342487.60116
- company_distributable_dividend_after_buyback_oku
- 3.2290505
- old_cohort_dividend_after_buyback_oku
- 3.1337919
- old_cohort_total_cash_receipts_oku
- 3.1940014
- old_cohort_fraction_at_year_end
- 0.9704995
- not_in_first_ten_year_holder_cashflows
- はい
- 5
内容を開く
- calendar_year
- 2041
- 状態
illustrative_terminal_continuation_not_announced
- employee_paid_subscription_date_assumed
2041-06-01
- SBC_cashless_delivery_date_assumed
2041-09-15
- company_stock_neutralizing_buyback_date_assumed
2041-11-03
- year_from_2036_term
- 5
- 2036_ownership_cohort_shares_at_year_start
- 143342487.60116
- company_shares_before_new_issue
- 147699701
- cashless_SBC_shares_issued
- 170000
- employee_paid_shares_issued
- 140000
- shares_outstanding_after_issuance
- 148009701
- market_shares_rebought_and_cancelled
- 310000
- company_shares_at_year_end
- 147699701
- model_fair_market_price_EUR
- 20.1328875
- employee_paid_issue_price_EUR
- 17.1129544
- gross_market_buyback_cash_oku
- 0.062412
- employee_subscription_cash_inflow_oku
- 0.0239581
- net_cash_funding_need_after_subscriptions_oku
- 0.0384538
- annual_SBC_expense_already_deducted_oku
- 0.3039568
- annual_noncash_SBC_addback_oku
- 0.3039568
- old_cohort_pro_rata_tendered_shares
- 300224.7207861
- old_cohort_tender_cash_oku
- 0.0604439
- old_cohort_shares_year_end
- 143042262.88037
- company_distributable_dividend_after_buyback_oku
- 3.2484248
- old_cohort_dividend_after_buyback_oku
- 3.1459917
- old_cohort_total_cash_receipts_oku
- 3.2064356
- old_cohort_fraction_at_year_end
- 0.9684668
- not_in_first_ten_year_holder_cashflows
- はい
- 6
内容を開く
- calendar_year
- 2042
- 状態
illustrative_terminal_continuation_not_announced
- employee_paid_subscription_date_assumed
2042-06-01
- SBC_cashless_delivery_date_assumed
2042-09-15
- company_stock_neutralizing_buyback_date_assumed
2042-11-03
- year_from_2036_term
- 6
- 2036_ownership_cohort_shares_at_year_start
- 143042262.88037
- company_shares_before_new_issue
- 147699701
- cashless_SBC_shares_issued
- 170000
- employee_paid_shares_issued
- 140000
- shares_outstanding_after_issuance
- 148009701
- market_shares_rebought_and_cancelled
- 310000
- company_shares_at_year_end
- 147699701
- model_fair_market_price_EUR
- 20.2536848
- employee_paid_issue_price_EUR
- 17.2156321
- gross_market_buyback_cash_oku
- 0.0627864
- employee_subscription_cash_inflow_oku
- 0.0241019
- net_cash_funding_need_after_subscriptions_oku
- 0.0386845
- annual_SBC_expense_already_deducted_oku
- 0.3057806
- annual_noncash_SBC_addback_oku
- 0.3057806
- old_cohort_pro_rata_tendered_shares
- 299595.9129254
- old_cohort_tender_cash_oku
- 0.0606792
- old_cohort_shares_year_end
- 142742666.96744
- company_distributable_dividend_after_buyback_oku
- 3.2679153
- old_cohort_dividend_after_buyback_oku
- 3.1582389
- old_cohort_total_cash_receipts_oku
- 3.2189182
- old_cohort_fraction_at_year_end
- 0.9664384
- not_in_first_ten_year_holder_cashflows
- はい
- 7
内容を開く
- calendar_year
- 2043
- 状態
illustrative_terminal_continuation_not_announced
- employee_paid_subscription_date_assumed
2043-06-01
- SBC_cashless_delivery_date_assumed
2043-09-15
- company_stock_neutralizing_buyback_date_assumed
2043-11-03
- year_from_2036_term
- 7
- 2036_ownership_cohort_shares_at_year_start
- 142742666.96744
- company_shares_before_new_issue
- 147699701
- cashless_SBC_shares_issued
- 170000
- employee_paid_shares_issued
- 140000
- shares_outstanding_after_issuance
- 148009701
- market_shares_rebought_and_cancelled
- 310000
- company_shares_at_year_end
- 147699701
- model_fair_market_price_EUR
- 20.3752069
- employee_paid_issue_price_EUR
- 17.3189259
- gross_market_buyback_cash_oku
- 0.0631631
- employee_subscription_cash_inflow_oku
- 0.0242465
- net_cash_funding_need_after_subscriptions_oku
- 0.0389166
- annual_SBC_expense_already_deducted_oku
- 0.3076153
- annual_noncash_SBC_addback_oku
- 0.3076153
- old_cohort_pro_rata_tendered_shares
- 298968.422076
- old_cohort_tender_cash_oku
- 0.0609154
- old_cohort_shares_year_end
- 142443698.54537
- company_distributable_dividend_after_buyback_oku
- 3.2875228
- old_cohort_dividend_after_buyback_oku
- 3.1705339
- old_cohort_total_cash_receipts_oku
- 3.2314493
- old_cohort_fraction_at_year_end
- 0.9644143
- not_in_first_ten_year_holder_cashflows
- はい
- 8
内容を開く
- calendar_year
- 2044
- 状態
illustrative_terminal_continuation_not_announced
- employee_paid_subscription_date_assumed
2044-06-01
- SBC_cashless_delivery_date_assumed
2044-09-15
- company_stock_neutralizing_buyback_date_assumed
2044-11-03
- year_from_2036_term
- 8
- 2036_ownership_cohort_shares_at_year_start
- 142443698.54537
- company_shares_before_new_issue
- 147699701
- cashless_SBC_shares_issued
- 170000
- employee_paid_shares_issued
- 140000
- shares_outstanding_after_issuance
- 148009701
- market_shares_rebought_and_cancelled
- 310000
- company_shares_at_year_end
- 147699701
- model_fair_market_price_EUR
- 20.4974582
- employee_paid_issue_price_EUR
- 17.4228394
- gross_market_buyback_cash_oku
- 0.0635421
- employee_subscription_cash_inflow_oku
- 0.024392
- net_cash_funding_need_after_subscriptions_oku
- 0.0391501
- annual_SBC_expense_already_deducted_oku
- 0.3094609
- annual_noncash_SBC_addback_oku
- 0.3094609
- old_cohort_pro_rata_tendered_shares
- 298342.2454793
- old_cohort_tender_cash_oku
- 0.0611526
- old_cohort_shares_year_end
- 142145356.29989
- company_distributable_dividend_after_buyback_oku
- 3.3072479
- old_cohort_dividend_after_buyback_oku
- 3.1828767
- old_cohort_total_cash_receipts_oku
- 3.2440293
- old_cohort_fraction_at_year_end
- 0.9623943
- not_in_first_ten_year_holder_cashflows
- はい
- 9
内容を開く
- calendar_year
- 2045
- 状態
illustrative_terminal_continuation_not_announced
- employee_paid_subscription_date_assumed
2045-06-01
- SBC_cashless_delivery_date_assumed
2045-09-15
- company_stock_neutralizing_buyback_date_assumed
2045-11-03
- year_from_2036_term
- 9
- 2036_ownership_cohort_shares_at_year_start
- 142145356.29989
- company_shares_before_new_issue
- 147699701
- cashless_SBC_shares_issued
- 170000
- employee_paid_shares_issued
- 140000
- shares_outstanding_after_issuance
- 148009701
- market_shares_rebought_and_cancelled
- 310000
- company_shares_at_year_end
- 147699701
- model_fair_market_price_EUR
- 20.6204429
- employee_paid_issue_price_EUR
- 17.5273765
- gross_market_buyback_cash_oku
- 0.0639234
- employee_subscription_cash_inflow_oku
- 0.0245383
- net_cash_funding_need_after_subscriptions_oku
- 0.039385
- annual_SBC_expense_already_deducted_oku
- 0.3113177
- annual_noncash_SBC_addback_oku
- 0.3113177
- old_cohort_pro_rata_tendered_shares
- 297717.3803828
- old_cohort_tender_cash_oku
- 0.0613906
- old_cohort_shares_year_end
- 141847638.91951
- company_distributable_dividend_after_buyback_oku
- 3.3270914
- old_cohort_dividend_after_buyback_oku
- 3.1952676
- old_cohort_total_cash_receipts_oku
- 3.2566582
- old_cohort_fraction_at_year_end
- 0.9603786
- not_in_first_ten_year_holder_cashflows
- はい
- 10
内容を開く
- calendar_year
- 2046
- 状態
illustrative_terminal_continuation_not_announced
- employee_paid_subscription_date_assumed
2046-06-01
- SBC_cashless_delivery_date_assumed
2046-09-15
- company_stock_neutralizing_buyback_date_assumed
2046-11-03
- year_from_2036_term
- 10
- 2036_ownership_cohort_shares_at_year_start
- 141847638.91951
- company_shares_before_new_issue
- 147699701
- cashless_SBC_shares_issued
- 170000
- employee_paid_shares_issued
- 140000
- shares_outstanding_after_issuance
- 148009701
- market_shares_rebought_and_cancelled
- 310000
- company_shares_at_year_end
- 147699701
- model_fair_market_price_EUR
- 20.7441656
- employee_paid_issue_price_EUR
- 17.6325407
- gross_market_buyback_cash_oku
- 0.0643069
- employee_subscription_cash_inflow_oku
- 0.0246856
- net_cash_funding_need_after_subscriptions_oku
- 0.0396214
- annual_SBC_expense_already_deducted_oku
- 0.3131856
- annual_noncash_SBC_addback_oku
- 0.3131856
- old_cohort_pro_rata_tendered_shares
- 297093.8240396
- old_cohort_tender_cash_oku
- 0.0616296
- old_cohort_shares_year_end
- 141550545.09547
- company_distributable_dividend_after_buyback_oku
- 3.347054
- old_cohort_dividend_after_buyback_oku
- 3.2077067
- old_cohort_total_cash_receipts_oku
- 3.2693363
- old_cohort_fraction_at_year_end
- 0.9583672
- not_in_first_ten_year_holder_cashflows
- はい
- later_years_perpetuity_growth_assumption
2037+ q shares per year constant; market fair price and free cash grow at g; subscription price remains 85% of fair price; pro rata tender and cancellation repeat; continuation forecasts are not ten-year timed cashflows
- SBC_non_cash_not_holder_cash_expense
- はい
- sensitivities
内容を開く
- ignore_all_post_2036_share_delivery_counterfactual_incorrect_full_company_oku
- 29.4418598
- ignore_all_post_2036_share_delivery_counterfactual_incorrect_old_cohort_oku
- 28.8139516
- no_repurchase_perpetual_new_issuance_old_cohort_value_oku
- 28.4249218
- no_repurchase_company_equivalent_oku
- 29.0443524
- no_repurchase_intrinsic_2036_price_EUR
- 19.6644626
- no_repurchase_old_ownership_year2037
- 0.9766232
- no_repurchase_old_ownership_year2046
- 0.9585543
- no_repurchase_fixed_new_share_delivery_per_year
- 310000
- no_repurchase_discounted_stream_factor_900_terms
- 8.9849288
- no_repurchase_paid_share_cash_issuance_ratio_to_intrinsic_price
- 0.85
- no_repurchase_formula
Sum_t [(old_2036/(N_2036+t*q))*(FCFE2037+0.85*paid_share_count*P0/1e8)*(1+g)^(t-1)/(1+k)^t]; solve P0=V_company_equiv*1e8/N_2036, no future buybacks; 900-term truncation
- separate_sensitivity_not_added_into_main_IRR
- はい
- excludes_investment_properties_JV_carrying_value_and_cash_double_add
- はい
構造的不況・信用逼迫（確率 10.0%）
- growth_early
- -0.065
- growth_late
- -0.015
- rent_cost_ratio
- 0.225
- corp_cost_start
- 2.35
- corp_infl
- 0.035
- other_income_start
- 0.91
- jv_start
- 1.35
- interest_rate
- 0.052
- tax_ratio
- 0.15
- nci_ratio
- 0.035
- valuation_early
- -0.055
- valuation_late
- -0.016
- jv_valuation
- -0.028
- exit_early
- 7
- exit_late
- 5
- acquisition_annual
- 0.55
- maint_capex
- 3.2
- growth_capex
- 2.5
- div_dps_cap
- 3
- div_payout
- 0.32
- buyback_from
- 2100
- buyback_oku
- 0
- sbc_annual
- 0.31
- options_issue_annual
- 150000
- free_issue_annual
- 210000
- issue_price
- 65
- utc_shares
- 0
- utc_success
- いいえ
- buyback_price_growth
- -0.04
- terminal_k
- 0.135
- terminal_g
- 0
- fx_oci_annual
- -0.7
- fx_debt_annual
- 0.5
- working_cap_annual
- 0.75
- nci_cash
- 0.8
- dep_non_cash
- 0.55
- terminal_maintenance
- 3.5
- terminal_growth
- 2.8
確率の根拠
商業施設の稼働率・賃料、資金調達と開発に関する分析上のシナリオ確率。
分析基準とデータ
- 価格・単価
- 94.16
- 株価基準日
2026-11-06
- 株数
- 144549701
- 株価の出所
https://www.bourse-direct.fr/fr/marche/euronext-paris/unibail-rodamco-westfield-FR0013326246-URW-EUR-XPAR/graphiques
- 株数の出所
https://www.urw.com/en/investors
- detail
内容を開く
- 価格・単価
内容を開く
- 値
- 94.16
- 単位
EUR_per_share
- 日付
2026-11-06
- venue
Euronext Paris
- 状態
market_observed_confirmed_by_multiple_local_quotes
- 出典番号
- 1
paris_close_2026_11_06
- 株数
内容を開く
- 値
- 144549701
- 日付
2026-10-31
- disclosed_on
2026-11-03
- 状態
last_confirmed_issued_share_count_used_as_asof_proxy
- 発行済株式数
- 144549701
- official_theoretical_voting_rights
- 144549701
- treasury_shares_at_2026_11_06_verified
- 未確認
- treasury_shares_base_assumption
- 0
- effective_shares_proxy
- 144549701
- effective_shares_is_exactly_verified
- いいえ
- 注記
議決権数=発行株数でも自己株0の厳密証明とはせず、確認不能な自己株を0と仮定した分母感応度を別掲。2025年末URW SEの保有自己株0は2026年自己株0の根拠にならない。
- 出典番号
- 1
urw_oct_2026_shares
- 2
urw_2026_h1
- observed_market_cap_oku
- 136.1079985
- IFRS_last_published_2026_H1
内容を開く
- as_of
2026-06-30
- 状態
reported
- gross_rent_H1_oku
- 11.584
- rental_costs_H1_oku
- 1.991
- net_rent_H1_oku
- 9.593
- net_property_services_H1_oku
- 0.477
- net_development_H1_oku
- 0.046
- equity_method_JV_total_result_H1_oku
- 3.284
- equity_method_JV_recurring_result_approx_H1_oku
- 0.462
- equity_method_JV_nonrecurring_valuation_result_approx_H1_oku
- 2.821
- IFRS_property_valuation_change_H1_oku
- 2.653
- IFRS_property_disposal_book_gain_H1_oku
- 0.458
- financing_net_cost_H1_oku
- 2.142
- tax_H1_oku
- 1.697
- total_net_result_H1_oku
- 11.851
- external_NCI_result_H1_oku
- 1.761
- IFRS_parent_net_profit_after_SBC_H1_oku
- 10.091
- EPRA_adjusted_recurring_earnings_H1_oku
- 6.966
- annualized_AREPS_company_FY2026_guidance_min_EUR
- 9.15
- annualized_AREPS_company_FY2026_guidance_max_EUR
- 9.3
- share_based_expense_cashflow_addback_H1_oku
- 0.143
- FY2025_parent_profit_oku
- 12.682
- FY2025_parent_equity_oku
- 158.971
- parent_IFRS_equity_oku
- 164.174
- hybrid_securities_equity_oku
- 14.743
- external_noncontrolling_equity_oku
- 41.034
- total_IFRS_equity_oku
- 219.951
- total_assets_oku
- 504.01
- total_IFRS_liabilities_oku
- 284.059
- investment_property_oku
- 369.402
- JV_equity_method_investments_oku
- 72.255
- 現金（億）
- 28.357
- nominal_gross_financial_debt_oku
- 214.581
- IFRS_net_financial_debt_oku
- 186.224
- IFRS_LTV
- 0.388
- property_portfolio_GMV_oku
- 479.73
- unadjusted_average_shares_H1
- 143961862
- diluted_average_shares_H1
- 146382301
- shares_2026_06_30
- 144472611
- shares_2025_12_31
- 143358222
- H1_new_employee_savings_shares
- 119610
- H1_vested_awards_and_exercised_options_shares
- 994779
- past_2025_dividend_paid_per_share_EUR
- 4.5
- past_2025_dividend_ex_date
2026-05-15
- past_2025_dividend_paid_date
2026-05-19
- past_2025_dividend_total_paid_oku
- 6.499
- carry_forward_SIIC_distribution_obligation_oku
- 27.728
- de_stapled_completion
2026-06-25
- de_stapling_incremental_shares
- 0
- 出典番号
- 1
urw_2026_h1
- trading_update_9M2026
内容を開く
- 期間末
2026-09-30
- 状態
reported_unaudited_operating_only
- IFRS_gross_rent_oku
- 17.27
- proportionate_gross_rent_oku
- 20.87
- IFRS_total_turnover_oku
- 22.28
- proportionate_total_turnover_oku
- 26.39
- shopping_centre_IFRS_gross_rent_oku
- 15.26
- office_IFRS_gross_rent_oku
- 0.39
- convention_and_exhibition_IFRS_gross_rent_oku
- 1.62
- like_for_like_gross_rent_growth
- 0.044
- like_for_like_shopping_rent_growth
- 0.038
- tenant_sales_growth
- 0.052
- footfall_growth
- 0.022
- EPRA_shopping_vacancy
- 0.039
- Europe_EPRA_vacancy
- 0.029
- US_flagship_EPRA_vacancy
- 0.047
- new_leasing_minimum_guarantee_uplift
- 0.103
- 2026_full_year_AREPS_guidance_min
- 9.15
- 2026_full_year_AREPS_guidance_max
- 9.3
- 2026_distribution_proposal_per_share_EUR
- 5.5
- distribution_declaration_formally_finalized
- いいえ
- 2027_ex_date_announced
- いいえ
- cash_2026_09_30_oku
- 28
- 出典番号
- 1
urw_2026_q3
- asof_equity_bridge_estimated
内容を開く
- 開始日
2026-06-30
- 終了日
2026-11-06
- unreported_period_days
- 129
- 状態
estimated_not_company_reported
- assumed_recurring_parent_profit_oku
- 4.7005479
- assumed_noncash_property_revaluation_oku
- 0.35
- assumed_disposal_gain_oku
- 0
- assumed_employee_equity_reserve_oku
- 0.1010795
- assumed_employee_cash_subscription_oku
- 0.12
- assumed_paid_hybrid_coupon_oku
- 0.2509315
- assumed_OCI_FX_oku
- 0.15
- assumed_new_shares_from_2026_07_01_to_10_31
- 77090
- net_debt_change_oku
- -0.3
- property_value_change_oku
- -0.4
- JV_carrying_value_change_oku
- 0.1
- comment
6/30→11/6の未公表利益・資産・純負債は、9M trading updateの売上/流動性のみでは確定できない。株数のみ10/31一次資料。IFRS親会社資本を正確な11/6残高と称さない。
- parent_equity_asof_oku
- 169.3446959
- net_debt_asof_oku
- 185.924
- hybrid_equity_asof_oku
- 14.743
- NCI_equity_asof_oku
- 41.2460548
- treasury_sensitivity
内容を開く
- hypothetical_unverified_treasury_shares
- 500000
- effective_shares_sensitivity
- 144049701
- corresponding_hypothetical_initial_market_cap_oku
- 135.6371985
- 状態
what_if_not_an_assertion
- notes
- 1
8月/10月時点のIFRS親会社資本は公表されていない。6月末実績と11月6日代理値を混同しない。
- 2
2025年末SE/NV各権利はde-stapling後の親会社保有経済的持分へ統合済みで再足ししない。
- 3
2026年上期中の2025年度配当€4.50は基準日前のため10年現金CFに含まれない。
追加データ・検証記録
分析ごとに収録された追加の前提、年度別データ、検証上の注意を確認できます。