Koninklijke Heijmans N.V. has been listed on Euronext Amsterdam since 17 September 1993. Ordinary Heijmans shares are certified; these share certificates are included in the Smallcap Index (AScX). From 24 March 2025, the share certificates will be included in the Midcap (AMX).
The share capital
The share capital of Royal Heijmans N.V. as at 31 December 2025 was composed as follows:
|
(x 1000 pieces) |
Share capital |
Issued capital |
||
|
2025 |
2024 |
2025 |
2024 |
|
|
Ordinary shares |
35,100 |
35,100 |
27,478 |
27,478 |
|
Cumulative preference financing shares B |
4,900 |
4,900 |
- |
- |
|
Preference protection shares |
8,000 |
8,000 |
- |
- |
|
Total |
48,000 |
48,000 |
27,478 |
27,478 |
Ordinary shares
The shares are held by the Stichting Administratiekantoor (SA Trust) The nominal value per ordinary share is € 0.30. As at 31 December 2025, the SA Trust had issued 27,475,391 depositary receipts for shares, which are listed on Euronext Amsterdam. For further information on the purpose and functioning of the SA Trust, please refer to the Governance chapter. 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 |
2025 |
2024 |
2023 |
2022 |
2021 |
2020 |
|
Issued 1 January |
27,478 |
26,826 |
23,553 |
22,760 |
21,933 |
21,409 |
|
Stock dividend |
- |
652 |
973 |
792 |
604 |
- |
|
Issue |
- |
- |
2,300 |
- |
223 |
524 |
|
Posted 31 December |
27,478 |
27,478 |
26,826 |
23,553 |
22,760 |
21,933 |
|
Issued average year |
27,478 |
27,209 |
24,933 |
23,264 |
22,415 |
21,671 |
|
Earnings per share* x £1.00 |
4.73 |
3.31 |
2.41 |
2.56 |
2.24 |
1.85 |
|
Proposed dividend per share x €1.00 |
2.37 |
1.60 |
0.89 |
1.01 |
0.88 |
0.73 |
|
Payout ratio % |
50% |
50% |
40% |
40% |
40% |
40% |
- *Per weighted average issued share
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 |
2025 |
2024 |
2023 |
2022 |
2021 |
2020 |
|
Closing price at year-end (in €) |
67.60 |
31.55 |
12.12 |
10.12 |
14.90 |
9.33 |
|
Highest price (in €) |
68.40 |
32.05 |
12.90 |
15.70 |
15.40 |
9.67 |
|
Lowest price (in €) |
28.65 |
12.18 |
9.99 |
9.19 |
9.26 |
4.47 |
|
Dividend yield on closing price (in %) |
3.5% |
5.1% |
7.4% |
10.0% |
5.9% |
7.8% |
|
Market capitalisation at year-end (in € million) |
1,858 |
867 |
325 |
238 |
339 |
205 |
|
Average daily turnover (in numbers) |
95,497 |
110,679 |
72,101 |
85,316 |
122,852 |
158,183 |
Issued capital and shareholdings
The composition of the issued capital and associated voting rights as at 31 December 2025 was as follows:
|
Issued Capital |
(Potential) voting rights |
||||
|
Number |
% |
Number |
% |
||
|
Total ordinary shares at the end of the financial year |
27,478,006 |
100.0% |
27,478,006 |
100.0% |
|
|
Of which certified |
27,475,391 |
100.0% |
27,475,391 |
100.0% |
|
|
Of which uncertificated |
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 2025:
|
Heijmans interests |
31 december 2025 |
31 december 2024 |
31 december 2023 |
|||
|
Capital interest (%) |
Potential voting rights (%) |
Capital interest (%) |
Potential voting rights (%) |
Capital interest (%) |
Potential voting rights (%) |
|
|
Waterbird B.V. (Fam. Van Wanrooij) |
8.4% |
8.4% |
8.4% |
8.4% |
8.6% |
8.6% |
|
JP Morgan Asset Management |
7.7% |
7.7% |
3.5% |
3.5% |
1.9% |
1.9% |
|
C.A.C.M. Oomen |
5.4% |
5.4% |
5.4% |
5.4% |
4.6% |
4.6% |
|
ASR Asset Management |
5.2% |
5.2% |
5.2% |
5.2% |
5.0% |
5.0% |
|
Dimensional Fund Advisors |
4.3% |
4.3% |
4.6% |
4.6% |
3.6% |
3.6% |
|
The Vanguard Group |
4.2% |
4.2% |
0.0% |
0.0% |
0.0% |
0.0% |
|
Total capital interest > 3% |
35.2% |
35.2% |
27.1% |
27.1% |
23.7% |
23.7% |
|
Other |
64.8% |
64.8% |
72.9% |
72.9% |
76.3% |
76.3% |
|
Total |
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:
During the reporting year the (estimated) shareholding held by institutional investors is likely to have increased slightly to approximately 50% (2024: approximately 43%). It is estimated that 37% of the number of depositary receipts for ordinary shares is held in the Netherlands (end of 2024: 39%). 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 2025, the closing price of Royal Heijmans N.V. ordinary shareswas € 67.60. This was a gain of 114% compared with the closing price at the end of the 2024 financial year (€ 31.55), and an outperformance of the AMX index, which rose by 11% in the same period. The graph shows the movement in the Royal Heijmans share price in 2025 compared to the AMX index, the AEX and Next20, as well as compared to the other Dutch listed construction company BAM.
Analists
-
ABN Amro Oddo BHF Bank - Martijn den Drijver - +31 20 628 0042
-
ING Financial Markets - Tijs Hollestelle - +31 20 501 3517
-
Kepler Cheuvreux - Tim Ehlers - +31 20 563 2379