The share
Stock performance
The Roularta Media Group share is listed on NYSE Euronext Brussels under the Media – Publishing category, with ISIN code BE0003741551 and ticker symbol ROU. It is included in the BEL Small Cap Index (BE0389857146).
Closing Prices and Volumes in 2024 (Monthly Average):
| Month | Avg. Closing Price (€) | Volume (Shares) | Value (€ Million) |
|---|---|---|---|
| Jan 24 | 12.85 | 26,293 | 0.34 |
| Feb 24 | 12.12 | 24,809 | 0.30 |
| Mar 24 | 11.04 | 58,384 | 0.64 |
| Apr 24 | 10.38 | 50,248 | 0.52 |
| May 24 | 11.03 | 58,759 | 0.65 |
| Jun 24 | 10.83 | 27,075 | 0.29 |
| Jul 24 | 10.66 | 23,327 | 0.25 |
| Aug 24 | 10.94 | 33,500 | 0.36 |
| Sep 24 | 11.34 | 33,865 | 0.38 |
| Oct 24 | 11.64 | 19,713 | 0.23 |
| Nov 24 | 11.33 | 19,568 | 0.22 |
| Dec 24 | 11.17 | 23,958 | 0.27 |
Total Volume for 2024: 399,499 shares
Total Value for 2024: €4.45 million
The highest closing price in the past year was €13.80 on January 9, 2024. The lowest price was €10.10 on March 27, 2024. The largest daily trading volume occurred on August 5, 2024, with 132,899 shares traded.
Liquidity of the share
Roularta Media Group pursues a proactive investor relations policy with the aim of highlighting the share and thereby supporting its liquidity.
Key figures per share
| Description | 2024 | 2023 | 2022 | 2021* | 2020* | 2019* |
|---|---|---|---|---|---|---|
| Equity – Share of the Group | 17.33 | 18.42 | 19.21 | 19.59 | 18.02 | 18.16 |
| EBITDA | 2.16 | 1.83 | 2.56 | 3.15 | 1.53 | 1.84 |
| EBIT | 0.29 | 0.27 | 0.47 | 1.09 | 0.49 | 0.80 |
| Net result attributable to RMG shareholders | 0.49 | 0.20 | 0.65 | 1.42 | 0.48 | 0.87 |
| Net result RMG after dilution effect | 0.49 | 0.20 | 0.65 | 1.41 | 0.48 | 0.86 |
| Gross dividend (paid out) | 1.00 | 1.00 | 1.00 | 1.00 | – | 0.50 |
| Price/Earnings ratio (P/E) (**) | 23.17 | 63.67 | 27.41 | 13.42 | 29.32 | 16.24 |
| Number of shares as of 31/12 | 13,931,920 | 13,141,123 | 13,141,123 | 13,141,123 | 13,141,123 | 13,141,123 |
| Weighted average number of shares | 12,510,872 | 11,781,577 | 11,766,209 | 11,719,515 | 12,399,598 | 12,545,621 |
| Weighted average number of shares after dilution | 12,510,872 | 11,794,665 | 11,797,911 | 11,736,202 | 12,409,631 | 12,560,022 |
| Highest closing price | 13.80 | 18.50 | 21.50 | 19.10 | 17.00 | 15.50 |
| Closing price at year-end | 11.25 | 12.70 | 17.75 | 19.00 | 14.15 | 14.05 |
| Market capitalization (million euros) as of 31/12 | 156.7 | 166.9 | 233.3 | 249.7 | 186.0 | 184.6 |
| Annual trading volume (million euros) | 4.5 | 4.4 | 8.2 | 9.6 | 19.1 | 11.1 |
| Annual trading volume (number of shares) | 399,499 | 296,150 | 434,611 | 628,872 | 1,491,456 | 845,340 |
Based on the weighted average number of outstanding shares.
(*)Reworked for new EBITDA definition—see Annual Report note 1.
(**)Based on the share price at December 31 and the net result attributable to RMG shareholders.
Analysis and rapportage
The Roularta Media Group share is followed by analyst Guy Sips from KBC Securities (guy.sips@kbcsecurities.be).
The shares of Roularta Media Group
The authorized capital of NV Roularta Media Group amounts to €84,815,953.73. It is represented by 13,931,920 fully paid-up shares without nominal value, each representing an equal part of the capital. All shares representing the authorized capital enjoy the same corporate rights.
In accordance with Article 7:53 of the Belgian Companies and Associations Code and Article 34 of the company’s articles of association, fully paid-up shares that have been continuously registered in the name of the same shareholder in the register of registered shares for at least two uninterrupted years acquire double voting rights.
Own shares
At the end of September 2024, based on statutory authorization, 265,237 Roularta shares held by the BV Shopinvest were repurchased.
As of December 31, 2024, the company holds 1,611,984 treasury shares, representing 11.57% of the capital.
Shareholder structure
The shareholding is distributed as follows (situation at the end of September 2025):
| Shareholder | Number of Shares | % of Capital | Number of Voting Rights | % of Voting Rights |
|---|---|---|---|---|
| Koinon NV | 11,500,893 | 82.55% | 20,853,870 | 89.56% |
| Treasury Shares | 1,541,194 | 11.06% | 1,541,194 | 6.62% |
| Individual and Institutional Investors | 889,833 | 6.39% | 889,884 | 3.82% |
| Total | 13,931,920 | 100% | 23,284,948 | 100% |
Out of the total outstanding shares, 11,500,944 are registered shares.
Development of share capital
NV Roularta Media Group was founded on May 11, 1988, under the name Roularta Financieringsmaatschappij. Below you will find a schematic overview of the events that over the years have impacted the authorized capital and the number of capital-representing securities.
| Year-Month | Event/Transaction | Number of Shares | Capital (BEF/EUR) |
|---|---|---|---|
| 1988 – May | Incorporation as Roularta Financieringsmaatschappij | 12,510 | 381,000,000 BEF |
| 1993 – July | Merger – capital increase | 13,009 | 392,344,000 BEF |
| 1997 – Dec | Split – capital increase | 18,137 | 546,964,924 BEF |
| 1997 – Dec | Merger – capital increase | 22,389 | 675,254,924 BEF |
| 1997 – Dec | Capital increase | 24,341 | 734,074,465 BEF |
| 1997 – Dec | Name change to Roularta Media Group | — | — |
| 1998 – June | Issuance of 300,000 warrants | 2,434,100 | 734,074,465 BEF |
| 1998 – June | Merger – capital increase | 2,690,400 | 1,545,457,541 BEF |
| 1998 – June | Capital increase via debt conversion | 8,277,700 | 2,496,457,541 BEF |
| 1998 – Dec | Capital increase via debt conversion | 9,611,034 | 4,479,791,791 BEF |
| 2001 – June | Capital converted to euros (warrants converted) | 9,672,984 | €111,743,000 |
| 2001 – Oct | Cancellation of treasury shares | 9,553,679 | €111,743,000 |
| 2002 – June | Capital increase via warrant conversion | 9,589,029 | €112,138,000 |
| 2003 – June | Capital increase via warrant conversion | 9,632,504 | €112,623,000 |
| 2003 – July | Capital increase via contribution in kind | 9,884,986 | €118,463,000 |
| 2004 – June | Capital increase via warrant conversion | 9,928,611 | €118,950,000 |
| 2005 – June | Capital increase via warrant conversion | 9,956,961 | €119,267,000 |
| 2006 – Jan | Capital increase via warrant conversion | 9,996,051 | €120,054,000 |
| 2006 – Feb | Capital increase via cash contribution | 10,985,660 | €131,939,204.09 |
| 2006 – May | Incorporation of share premium | 10,985,660 | €170,029,300 |
| 2006 – June | Capital increase via warrant conversion | 11,005,485 | €170,250,500 |
| 2007 – Jan | Capital increase via warrant conversion | 11,014,825 | €170,439,000 |
| 2007 – June | Capital increase via warrant conversion | 11,037,050 | €170,687,000 |
| 2008 – Jan | Capital increase via warrant conversion | 11,044,914 | €170,846,000 |
| 2008 – May | Capital increase via warrant conversion | 11,062,289 | €171,040,000 |
| 2008 – Dec | Capital increase via cash contribution | 13,131,940 | €203,040,000 |
| 2011 – Jan | Capital increase via warrant conversion | 13,141,123 | €203,225,000 |
| 2015 – May | Capital reduction | 13,141,123 | €80,000,000 |
| 2015 – June | Merger with several subsidiaries | 13,141,123 | €80,000,000 |
| 2019 – June | Merger with Bright Communications BVBA | 13,141,123 | €80,000,000 |
| 2020 – June | Merger with Senior Publications NV | 13,141,123 | €80,000,000 |
| 2021 – July | Merger with Belgomedia SA | 13,141,123 | €80,000,000 |
| 2022 – July | Merger with Gezondheid NV | 13,141,123 | €80,000,000 |
| 2024 – June | Capital increase via contribution in kind (dividend choice) | 13,931,920 | €84,815,953.73 |
Dividend policy
The General Meeting, based on a proposal from the Board of Directors concerning the allocation of results, follows a policy that aims to distribute a dividend while maintaining a healthy balance between dividend payouts and preserving investment opportunities. On the recommendation of the Board of Directors, it will be proposed at the upcoming General Meeting not to pay a dividend.
public takeover bid
In the context of the law of April 1, 2007, on public takeover bids, NV Koinon, as a direct holder of more than 30% of the shares of Roularta Media Group, submitted an update of its notification to the FSMA on August 30, 2018, in accordance with Article 74 § 6 of the aforementioned law.
notification of major shareholdings
Transparency legislation aims to establish clarity about the shareholder structure of listed companies. To achieve this, holders of shareholdings in listed companies are required, under certain circumstances, to notify the Financial Services and Markets Authority (FSMA) as well as the issuer about their holdings.