The Royal Heijmans N.V. share

The share capital

The composition of the share capital of Royal Heijmans N.V. as at 31 December 2024 was as follows:

(x 1,000 shares)

Share capital

Issued capital

2024

2023

2024

2023

Ordinary shares

35,100

35,100

27,478

26,826

Cumulative preference B financing shares

4,900

4,900

-

-

Protective preference shares

8,000

8,000

-

-

48,000

48,000

27,478

26,826

Ordinary shares

The shares are held by the Heijmans Share Administration Trust (hereafter referred to as the ‘SA Trust’). The nominal value per ordinary share is € 0.30. As of 31 December 2024, the SA Trust had issued 27,475,391 depositary receipts for shares, which are listed on the NYSE Euronext stock exchange in Amsterdam. The voting rights on ordinary shares are vested in the SA Trust. Each ordinary share is entitled to one vote. Depositary receipt holders who wish to vote at a shareholders' meeting will receive an unconditional proxy from the SA Trust for this purpose. The development of the number of ordinary shares and depositary receipts and an overview of key figures per ordinary share or depositary receipt is shown in the table below.

Shares x 1,000

2024

2023

2022

2021

Issued 1 January

26,826

23,553

22,760

21,933

Stock dividend

652

973

792

604

Issue

2,300

-

223

Matching shares Share Matching Plan

Issued 31 December

27,478

26,826

23,553

22,760

Average issued over year

27,209

24,932.589

23,264

22,415

Earnings per share * x € 1.00

3.31

2.41

2.56

2.24

Proposed dividend per share x € 1.00

1.64

0.89

1.01

0.88

Pay-out ratio %

50%

40%

40%

40%

Royal Heijmans N.V. is listed on Euronext Amsterdam. Relevant information regarding the stock market listing is shown in the table below:

Heijmans stock exchange listing

2024

2023

2022

2021

2020

2019

2018

2017

2016

2015

2014

Closing price year-end (in €)

31.55

12.12

10.12

14.90

9.33

7.50

8.00

9.71

5.52

8.18

8.95

Highest price (in €)

32.05

12.90

15.70

15.40

9.67

11.52

12.92

10.87

9.20

13.36

14.20

Lowest price (in €)

12.18

9.99

9.19

9.26

4.47

7.12

7.44

6.02

4.59

5.77

7.83

Dividend return on closing price (in %)

5.2%

7.4%

10.0%

5.9%

7.8%

0.0%

0.0%

0.0%

0.0%

0.0%

0.0%

Stock exchange value at year-end (in € mln)

867

325

238

339

205

161

171

118

118

175

174

Average daily turnover (in numbers)

110,679

72,101

85,316

122,852

158,183

122,598

138,608

171,892

171,892

161,793

82,132

Issued capital and shareholdings

The issued capital and the associated voting rights changed on one occasion in 2024, namely on 30 May 2024, as a result of the issuance of (depositary receipts for) shares or in connection with the payment of the dividend on (depositary receipts for) ordinary shares in the form of stock dividend.

The composition of the issued capital and associated voting rights as at 31 December 2024 was as follows:

Issued capital

(Potential) Voting rights

Number

%

Number

%

Total ordinary shares at year-end

27,478,006

100.0%

27,478,006

0.0%

Depositary receipts

27,475,391

100.0%

27,475,391

100.0%

Non-depositary receipts

2,615

0.0%

2,615

0.0%

To the best of Heijmans’ knowledge, and also based on the WMZ (Dutch Major Holdings in Listed Companies Disclosure Act) register maintained by the Dutch Financial Markets Authority (AFM), the following investors held an interest of 3% or more in Heijmans as at 31 December 2024:

Interests in Heijmans

31 december 2024

31 december 2023

31 december 2022

31 december 2021

31 december 2020

31 december 2019

Capital interest (%)

Potential voting rights (%)

Capital interest (%)

Potential voting rights (%)

Capital interest (%)

Potential voting rights (%)

Capital interest (%)

Potential voting rights (%)

Capital interest (%)

Potential voting rights (%)

Capital interest (%)

Potential voting rights (%)

Waterbird B.V. (Van Wanrooij family)

8.4%

8.4%

8.6%

8.6%

0.0%

0.0%

0.0%

0.0%

0.0%

0.0%

0.0%

0.0%

C.A.C.M. Oomen

5.4%

5.4%

4.6%

4.6%

5.2%

5.2%

ASR Vermogensbeheer

5.2%

5.2%

5.0%

5.0%

5.7%

5.7%

5.2%

5.9%

5.4%

6.1%

5.5%

6.2%

Dimensional Fund Advisors LLP

4.6%

4.6%

3.6%

3.6%

4.0%

4.0%

3.6%

4.1%

3.6%

4.1%

3.5%

4.0%

JP Morgan Asset Management Holdings Inc.

3.5%

3.5%

1.9%

1.9%

Acadian Asset Management LLC

3.2%

3.2%

3.7%

3.7%

4.1%

4.1%

3.6%

4.0%

3.5%

4.0%

3.5%

4.0%

Quaero Capital SA

0.1%

0.1%

3.2%

3.2%

5.6%

5.6%

5.2%

5.9%

4.9%

5.5%

4.3%

4.9%

30.4%

30.4%

30.5%

30.5%

28.0%

28.0%

36.8%

28.4%

21.8%

24.7%

32.9%

23.7%

Other interests

69.6%

69.6%

69.5%

69.5%

72.0%

72.0%

63.2%

71.6%

78.2%

75.3%

67.1%

76.3%

Total

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

Based on the information provided by banks and custodians and information services, the distribution of share ownership can be broken down as follows:

   
   

In the year under review, the (estimated) shareholding held by institutional investors is likely to have fallen to approximately 43% (2023: approximately 50%). Of the number of depositary receipts for ordinary shares held by institutional investors, it is estimated that approximately 39% are held in the Netherlands (year-end 2023: approximately 44%). The decline among Dutch shareholders was accompanied by an increase that was particularly visible among French, UK and US institutional investors. It is estimated that the majority of depositary receipts for ordinary shares held by private investors are held in the Netherlands.

Share price development

At year-end 2024, the closing price of Royal Heijmans N.V. shares was € 31.55. This was a gain of 160% compared with the closing price at the end of the 2023 financial year (€ 12.12), and an outperformance of the AscX index, which rose by 5% in the same period. The graph shows the movement in the Royal Heijmans share price in 2024 compared to the AscX index, the AEX and AMX, as well as compared to the other Dutch listed construction company BAM.

Financial calendar 2025

Heijmans has set the following publication dates for 2025:

2025

Activities

21 February 2025

Publication 2024 annual results pre-trading

16 April 2025

General Meeting of Shareholders 14.00

25 April 2025

Trading update Pre-trading

25 July 2025

Publication of 2025 interim results Pre-trading

31 October 2025

Trading update Pre-trading