Aannemingsmaatschappij CFE NV

CFEB

Equity

ISIN BE0003883031 / Valor 3654454

Euronext - Euronext Brussels (2026-08-28)

EUR 11.40%

Aannemingsmaatschappij CFE NV
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About company

Aannemingsmaatschappij CFE NV (commonly known as CFE) is a Belgian construction and engineering group that provides contracting, multitechnical services and property development to public and private clients. Its businesses cover building and civil engineering, infrastructure and rail works, installation and maintenance of mechanical and electrical systems, and the development and management of residential and commercial real estate, supplemented by specialized engineering and project‑management services for complex construction programs. Headquartered in Belgium and listed on Euronext Brussels, CFE operates through local subsidiaries and project-based contracts in domestic and selected international markets.

Summarized from source with an LLMView SourceSector: Industrials

Revenue

Full‑year 2024 revenue: €1,182.2 million, a decrease of 5.3% versus 2023, reflecting softer Real Estate markets while Construction & Renovation and Multitechnics improved their contributions.

Profitability

Net result (group share) was €24.0 million (+5.2%). EBITDA stood at €49.9 million and EBIT at €32.0 million. Management highlights a return on equity of about 10% for 2024.

Cash flow and net debt

Operating cash flow reached €85.3 million (record level), enabling a sharp reduction of net financial debt to €41.7 million (31/12/2024) from €93.3 million (31/12/2023). Group equity was €247.8 million.

Order book

Order backlog at year‑end 2024: €1.646 billion, up 29.8% year‑on‑year, supported by major awards including additional work on the Oosterweelverbinding and other large infrastructure and industrial contracts.

Dividend

Proposed at the Ordinary General Meeting (30 April 2025): gross dividend €0.40 per CFE share (net €0.28 after 30% withholding tax), payable from 21 May 2025.

Segment performance & notable projects

All four segments (Real Estate Development, Multitechnics, Construction & Renovation, Investments/Holdings) were profitable in 2024. Real Estate faced a tougher market but delivered several projects; Multitechnics (VMA, MOBIX) and Construction & Renovation (Van Laere, MBG, BPC) showed strong operational performance with significant projects delivered or underway (e.g., ZIN in No(o)rd, LCL datacenter, industrial & healthcare facilities).

Outlook / management commentary

Management states it entered 2025 with confidence due to a healthier balance sheet and strong order book. The Group expects a moderate contraction in 2025 turnover and net income close to 2024, with continued emphasis on selective bidding, operational excellence and rigorous risk management.

Summarized from source with an LLMView Source

Key figures

28.1%1Y

27.1%3Y

22.6%5Y

Performance

30.9%1Y

28.5%3Y

34.8%5Y

Volatility