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John Vuong

Research Analyst at Van Lanschot Kempen Investment Management N.V.

John Vuong is an Equity Analyst at Van Lanschot Kempen N.V., specializing in real estate investment research with a particular focus on listed European property companies. He covers notable firms such as WDP, providing in-depth equity evaluations and recommendations that contribute to consensus estimates for institutional investors. Active in the industry since at least the early 2020s, Vuong has established himself within Van Lanschot Kempen as a key analyst, though previous employment history is not publicly detailed. His professional credentials include expertise in equity and real estate analysis, and he participates in industry roundtables and corporate reporting.

John Vuong's questions to BALD-B.ST leadership

Question · Q3 2024

John Vuong followed up on capital allocation for the upcoming year, asking where the company sees opportunities between acquisitions and development, and whether the downsized development portfolio still presents viable projects at the current point in the cycle.

Answer

Erik Selin (executive) stated that opportunities would likely be a mix of both acquisitions and development. Jonas Erikson (executive) added that ramping up development within Balder itself takes time, whereas JVs and partly owned companies offer more immediate investment capacity. Erik Selin confirmed that the existing development portfolio holds "fantastic potential" over the long term.

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John Vuong's questions to BALD B.ST leadership

Question · Q1 2024

John Vuong inquired about the specific credit ratio margins required for the distribution of Norion Bank shares, whether this plan alters Balder's investment strategy or deleveraging timeline, and if a direct sale of the stake had been considered as an alternative.

Answer

Jonas Erikson, executive, explained that Balder has not quantified the exact safety margin for its credit metrics, such as the debt-to-debt-plus-equity ratio (currently just under 57% vs. a 60% limit), as it depends on other potential transactions. Erik Selin, executive, added that this is a matter of maintaining a prudent safety margin and not a major strategic shift. Regarding a sale, Jonas Erikson noted that placing a stake of over 40% would be challenging for the market, while Erik Selin stated a distribution is preferable as it empowers shareholders to make their own decisions.

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Fintool can predict BALD B.ST logo BALD B.ST's earnings beat/miss a week before the call