View Financial HealthTFF Group 배당 및 자사주 매입배당 기준 점검 5/6TFF Group 수익으로 충분히 충당되는 현재 수익률 3.03% 보유한 배당금 지급 회사입니다.핵심 정보3.0%배당 수익률n/a자사주 매입 수익률총 주주 수익률n/a미래 배당 수익률2.7%배당 성장률9.6%다음 배당 지급일n/a배당락일n/a주당 배당금n/a배당 성향46%최근 배당 및 자사주 매입 업데이트Declared Dividend • Sep 03Dividend reduced to €0.50Dividend of €0.50 is 17% lower than last year. Ex-date: 4th November 2025 Payment date: 6th November 2025 Dividend yield will be 2.9%, which is about the same as the industry average. Sustainability & Growth Dividend is covered by earnings (33% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 9.6% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 155% over the next 3 years, which should provide support to the dividend and adequate earnings cover.Upcoming Dividend • Oct 30Upcoming dividend of €0.60 per shareEligible shareholders must have bought the stock before 06 November 2024. Payment date: 08 November 2024. Payout ratio is a comfortable 23% but the company is not cash flow positive. Trailing yield: 2.0%. Lower than top quartile of British dividend payers (5.9%). Lower than average of industry peers (3.4%).Upcoming Dividend • Nov 01Upcoming dividend of €0.60 per share at 1.0% yieldEligible shareholders must have bought the stock before 08 November 2023. Payment date: 10 November 2023. Payout ratio is a comfortable 16% but the company is not cash flow positive. Trailing yield: 1.0%. Lower than top quartile of British dividend payers (6.7%). Lower than average of industry peers (4.1%).Upcoming Dividend • Nov 01Upcoming dividend of €0.40 per shareEligible shareholders must have bought the stock before 08 November 2022. Payment date: 10 November 2022. Payout ratio is a comfortable 24% and this is well supported by cash flows. Trailing yield: 1.1%. Lower than top quartile of British dividend payers (6.1%). Lower than average of industry peers (3.2%).모든 업데이트 보기Recent updatesReported Earnings • Jan 09First half 2026 earnings releasedFirst half 2026 results: Revenue: €180.9m (down 25% from 1H 2025). Net income: €15.3m (down 33% from 1H 2025). Profit margin: 8.5% (down from 9.4% in 1H 2025). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 3.7% p.a. on average during the next 3 years, compared to a 2.4% growth forecast for the Packaging industry in Europe.공시 • Sep 05TFF Group, Annual General Meeting, Oct 24, 2025TFF Group, Annual General Meeting, Oct 24, 2025. Location: saint romain, dijon FranceDeclared Dividend • Sep 03Dividend reduced to €0.50Dividend of €0.50 is 17% lower than last year. Ex-date: 4th November 2025 Payment date: 6th November 2025 Dividend yield will be 2.9%, which is about the same as the industry average. Sustainability & Growth Dividend is covered by earnings (33% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 9.6% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 155% over the next 3 years, which should provide support to the dividend and adequate earnings cover.Valuation Update With 7 Day Price Move • Jul 11Investor sentiment deteriorates as stock falls 17%After last week's 17% share price decline to €19.90, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 14x in the Packaging industry in Europe. Total loss to shareholders of 37% over the past three years.New Risk • Jul 11New minor risk - Profit margin trendThe company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 7.2% Last year net profit margin: 12% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (3.7% operating cash flow to total debt). Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (7.2% net profit margin).New Risk • Jul 10New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 3.7% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (3.7% operating cash flow to total debt). Earnings are forecast to decline by an average of 3.7% per year for the foreseeable future. Minor Risk Paying a dividend despite having no free cash flows.Buy Or Sell Opportunity • Mar 10Now 22% undervalued after recent price dropOver the last 90 days, the stock has fallen 6.8% to €27.30. The fair value is estimated to be €35.16, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 19% over the last 3 years. Earnings per share has grown by 14%. Revenue is forecast to grow by 2.6% in 2 years. Earnings are forecast to grow by 20% in the next 2 years.Reported Earnings • Jan 11First half 2025 earnings releasedFirst half 2025 results: Revenue: €240.2m (down 9.1% from 1H 2024). Net income: €22.7m (down 42% from 1H 2024). Profit margin: 9.4% (down from 15% in 1H 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 4.0% p.a. on average during the next 3 years, compared to a 3.7% growth forecast for the Packaging industry in Europe.Upcoming Dividend • Oct 30Upcoming dividend of €0.60 per shareEligible shareholders must have bought the stock before 06 November 2024. Payment date: 08 November 2024. Payout ratio is a comfortable 23% but the company is not cash flow positive. Trailing yield: 2.0%. Lower than top quartile of British dividend payers (5.9%). Lower than average of industry peers (3.4%).공시 • Sep 05TFF Group, Annual General Meeting, Oct 25, 2024TFF Group, Annual General Meeting, Oct 25, 2024. Location: saint romain, dijon FranceReported Earnings • Sep 04Full year 2024 earnings released: EPS: €2.60 (vs €2.44 in FY 2023)Full year 2024 results: EPS: €2.60 (up from €2.44 in FY 2023). Revenue: €486.6m (up 11% from FY 2023). Net income: €56.4m (up 6.9% from FY 2023). Profit margin: 12% (in line with FY 2023). Revenue is forecast to grow 5.2% p.a. on average during the next 3 years, compared to a 4.3% growth forecast for the Packaging industry in Europe. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth.Reported Earnings • Jul 10Full year 2024 earnings releasedFull year 2024 results: Revenue: €486.6m (up 11% from FY 2023). Net income: €56.5m (up 6.9% from FY 2023). Profit margin: 12% (in line with FY 2023). Revenue is forecast to grow 4.8% p.a. on average during the next 3 years, compared to a 3.9% growth forecast for the Packaging industry in Europe.Buy Or Sell Opportunity • Feb 12Now 21% overvalued after recent price riseOver the last 90 days, the stock has risen 9.8% to €46.66. The fair value is estimated to be €38.70, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 24% over the last 3 years. Earnings per share has grown by 40%. Revenue is forecast to grow by 13% in 2 years. Earnings are forecast to grow by 27% in the next 2 years.New Risk • Jan 31New major risk - Financial positionThe company's debt is not well covered by operating cash flow. Currently running at an operating cash loss. This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. This is currently the only risk that has been identified for the company.Reported Earnings • Jan 13First half 2024 earnings releasedFirst half 2024 results: Revenue: €264.3m (up 14% from 1H 2023). Net income: €39.3m (up 4.1% from 1H 2023). Profit margin: 15% (down from 16% in 1H 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 6.1% p.a. on average during the next 3 years, compared to a 2.1% growth forecast for the Packaging industry in Europe.Upcoming Dividend • Nov 01Upcoming dividend of €0.60 per share at 1.0% yieldEligible shareholders must have bought the stock before 08 November 2023. Payment date: 10 November 2023. Payout ratio is a comfortable 16% but the company is not cash flow positive. Trailing yield: 1.0%. Lower than top quartile of British dividend payers (6.7%). Lower than average of industry peers (4.1%).Reported Earnings • Jul 15Full year 2023 earnings releasedFull year 2023 results: Revenue: €439.8m (up 45% from FY 2022). Net income: €52.8m (up 47% from FY 2022). Profit margin: 12% (in line with FY 2022). Revenue is forecast to grow 2.7% p.a. on average during the next 3 years, compared to a 3.1% growth forecast for the Packaging industry in Europe.Reported Earnings • Jan 23First half 2023 earnings released: EPS: €1.74 (vs €0.71 in 1H 2022)First half 2023 results: EPS: €1.74 (up from €0.71 in 1H 2022). Revenue: €232.6m (up 62% from 1H 2022). Net income: €37.8m (up 145% from 1H 2022). Profit margin: 16% (up from 11% in 1H 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 5.0% p.a. on average during the next 3 years, compared to a 3.8% growth forecast for the Packaging industry in Europe. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth.Upcoming Dividend • Nov 01Upcoming dividend of €0.40 per shareEligible shareholders must have bought the stock before 08 November 2022. Payment date: 10 November 2022. Payout ratio is a comfortable 24% and this is well supported by cash flows. Trailing yield: 1.1%. Lower than top quartile of British dividend payers (6.1%). Lower than average of industry peers (3.2%).Reported Earnings • Jul 15Full year 2022 earnings releasedFull year 2022 results: Revenue: €302.6m (up 16% from FY 2021). Net income: €36.6m (up 83% from FY 2021). Profit margin: 12% (up from 7.7% in FY 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 20%, compared to a 19% growth forecast for the industry in the United Kingdom.Valuation Update With 7 Day Price Move • Mar 14Investor sentiment improved over the past weekAfter last week's 17% share price gain to €31.50, the stock trades at a forward P/E ratio of 25x. Average forward P/E is 14x in the Packaging industry in Europe. Total loss to shareholders of 18% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €58.53 per share.Reported Earnings • Jan 25First half 2022 earnings: EPS in line with analyst expectations despite revenue beatFirst half 2022 results: EPS: €0.71 (up from €0.60 in 1H 2021). Revenue: €143.3m (up 1.3% from 1H 2021). Net income: €15.4m (up 19% from 1H 2021). Profit margin: 11% (up from 9.2% in 1H 2021). Revenue exceeded analyst estimates by 2.6%. Over the next year, revenue is forecast to grow 8.1%, compared to a 12% growth forecast for the industry in the United Kingdom.Valuation Update With 7 Day Price Move • Jan 11Investor sentiment improved over the past weekAfter last week's 17% share price gain to €32.30, the stock trades at a forward P/E ratio of 33x. Average forward P/E is 17x in the Packaging industry in Europe. Total loss to shareholders of 5.6% over the past three years.Reported Earnings • Jul 16Full year 2021 earnings released: EPS €0.92 (vs €1.23 in FY 2020)The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2021 results: Revenue: €260.9m (down 6.7% from FY 2020). Net income: €20.0m (down 25% from FY 2020). Profit margin: 7.7% (down from 9.5% in FY 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 14% per year whereas the company’s share price has fallen by 12% per year.Valuation Update With 7 Day Price Move • Nov 24Market bids up stock over the past weekAfter last week's 51% share price gain to €39.65, the stock is trading at a trailing P/E ratio of 22.1x, up from the previous P/E ratio of 14.7x. This compares to an average P/E of 15x in the Packaging industry in Europe. Total returns to shareholders over the past year are 7.5%.지급의 안정성과 성장배당 데이터 가져오는 중안정적인 배당: 0IH4 의 주당 배당금은 지난 10 년 동안 안정적이었습니다.배당금 증가: 0IH4 의 배당금 지급은 지난 10 년 동안 증가했습니다.배당 수익률 vs 시장TFF Group 배당 수익률 vs 시장0IH4의 배당 수익률은 시장과 어떻게 비교되나요?구분배당 수익률회사 (0IH4)3.0%시장 하위 25% (GB)2.2%시장 상위 25% (GB)5.6%업계 평균 (Packaging)3.6%분석가 예측 (0IH4) (최대 3년)2.7%주목할만한 배당금: 0IH4 의 배당금( 3.03% )은 UK 시장에서 배당금 지급자의 하위 25%( 2.23% )보다 높습니다.고배당: 0IH4 의 배당금( 3.03% )은 UK 시장에서 배당금 지급자의 상위 25%( 5.64% )와 비교해 낮습니다.주주 대상 이익 배당수익 보장: 합리적으로 낮은 지불 비율 ( 46.5% )로 0IH4 의 배당금 지급은 수익으로 충분히 충당됩니다.주주 현금 배당현금 흐름 범위: 합리적인 현금 지급 비율 ( 65.7% )로 0IH4 의 배당금 지급은 현금 흐름으로 충당됩니다.높은 배당을 제공하는 우량 기업 찾기7D1Y7D1Y7D1YGB 시장에서 배당이 강한 기업.View Management기업 분석 및 재무 데이터 상태데이터최종 업데이트 (UTC 시간)기업 분석2026/05/22 06:00종가2026/05/22 00:00수익2025/10/31연간 수익2025/04/30데이터 소스당사의 기업 분석에 사용되는 데이터는 S&P Global Market Intelligence LLC에서 제공됩니다. 아래 데이터는 이 보고서를 생성하기 위해 분석 모델에서 사용됩니다. 데이터는 정규화되므로 소스가 제공된 후 지연이 발생할 수 있습니다.패키지데이터기간미국 소스 예시 *기업 재무제표10년손익계산서현금흐름표대차대조표SEC 양식 10-KSEC 양식 10-Q분석가 컨센서스 추정치+3년재무 예측분석가 목표주가분석가 리서치 보고서Blue Matrix시장 가격30년주가배당, 분할 및 기타 조치ICE 시장 데이터SEC 양식 S-1지분 구조10년주요 주주내부자 거래SEC 양식 4SEC 양식 13D경영진10년리더십 팀이사회SEC 양식 10-KSEC 양식 DEF 14A주요 개발10년회사 공시SEC 양식 8-K* 미국 증권에 대한 예시이며, 비(非)미국 증권에는 해당 국가의 규제 서식 및 자료원을 사용합니다.별도로 명시되지 않는 한 모든 재무 데이터는 연간 기간을 기준으로 하지만 분기별로 업데이트됩니다. 이를 TTM(최근 12개월) 또는 LTM(지난 12개월) 데이터라고 합니다. 자세히 알아보기.분석 모델 및 스노우플레이크이 보고서를 생성하는 데 사용된 분석 모델에 대한 자세한 내용은 당사의 Github 페이지에서 확인하실 수 있습니다. 또한 보고서 활용 방법에 대한 가이드와 YouTube 튜토리얼도 제공합니다.Simply Wall St 분석 모델을 설계하고 구축한 세계적 수준의 팀에 대해 알아보세요.산업 및 섹터 지표산업 및 섹터 지표는 Simply Wall St가 6시간마다 계산하며, 프로세스에 대한 자세한 내용은 Github에서 확인할 수 있습니다.분석가 소스TFF Group는 10명의 분석가가 다루고 있습니다. 이 중 5명의 분석가가 우리 보고서에 입력 데이터로 사용되는 매출 또는 수익 추정치를 제출했습니다. 분석가의 제출 자료는 하루 종일 업데이트됩니다.분석가기관Beatrice AllenBerenbergFraser DonlonBerenbergFrancis PrêtreCIC Market Solutions (ESN)7명의 분석가 더 보기
Declared Dividend • Sep 03Dividend reduced to €0.50Dividend of €0.50 is 17% lower than last year. Ex-date: 4th November 2025 Payment date: 6th November 2025 Dividend yield will be 2.9%, which is about the same as the industry average. Sustainability & Growth Dividend is covered by earnings (33% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 9.6% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 155% over the next 3 years, which should provide support to the dividend and adequate earnings cover.
Upcoming Dividend • Oct 30Upcoming dividend of €0.60 per shareEligible shareholders must have bought the stock before 06 November 2024. Payment date: 08 November 2024. Payout ratio is a comfortable 23% but the company is not cash flow positive. Trailing yield: 2.0%. Lower than top quartile of British dividend payers (5.9%). Lower than average of industry peers (3.4%).
Upcoming Dividend • Nov 01Upcoming dividend of €0.60 per share at 1.0% yieldEligible shareholders must have bought the stock before 08 November 2023. Payment date: 10 November 2023. Payout ratio is a comfortable 16% but the company is not cash flow positive. Trailing yield: 1.0%. Lower than top quartile of British dividend payers (6.7%). Lower than average of industry peers (4.1%).
Upcoming Dividend • Nov 01Upcoming dividend of €0.40 per shareEligible shareholders must have bought the stock before 08 November 2022. Payment date: 10 November 2022. Payout ratio is a comfortable 24% and this is well supported by cash flows. Trailing yield: 1.1%. Lower than top quartile of British dividend payers (6.1%). Lower than average of industry peers (3.2%).
Reported Earnings • Jan 09First half 2026 earnings releasedFirst half 2026 results: Revenue: €180.9m (down 25% from 1H 2025). Net income: €15.3m (down 33% from 1H 2025). Profit margin: 8.5% (down from 9.4% in 1H 2025). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 3.7% p.a. on average during the next 3 years, compared to a 2.4% growth forecast for the Packaging industry in Europe.
공시 • Sep 05TFF Group, Annual General Meeting, Oct 24, 2025TFF Group, Annual General Meeting, Oct 24, 2025. Location: saint romain, dijon France
Declared Dividend • Sep 03Dividend reduced to €0.50Dividend of €0.50 is 17% lower than last year. Ex-date: 4th November 2025 Payment date: 6th November 2025 Dividend yield will be 2.9%, which is about the same as the industry average. Sustainability & Growth Dividend is covered by earnings (33% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 9.6% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 155% over the next 3 years, which should provide support to the dividend and adequate earnings cover.
Valuation Update With 7 Day Price Move • Jul 11Investor sentiment deteriorates as stock falls 17%After last week's 17% share price decline to €19.90, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 14x in the Packaging industry in Europe. Total loss to shareholders of 37% over the past three years.
New Risk • Jul 11New minor risk - Profit margin trendThe company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 7.2% Last year net profit margin: 12% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (3.7% operating cash flow to total debt). Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (7.2% net profit margin).
New Risk • Jul 10New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 3.7% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (3.7% operating cash flow to total debt). Earnings are forecast to decline by an average of 3.7% per year for the foreseeable future. Minor Risk Paying a dividend despite having no free cash flows.
Buy Or Sell Opportunity • Mar 10Now 22% undervalued after recent price dropOver the last 90 days, the stock has fallen 6.8% to €27.30. The fair value is estimated to be €35.16, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 19% over the last 3 years. Earnings per share has grown by 14%. Revenue is forecast to grow by 2.6% in 2 years. Earnings are forecast to grow by 20% in the next 2 years.
Reported Earnings • Jan 11First half 2025 earnings releasedFirst half 2025 results: Revenue: €240.2m (down 9.1% from 1H 2024). Net income: €22.7m (down 42% from 1H 2024). Profit margin: 9.4% (down from 15% in 1H 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 4.0% p.a. on average during the next 3 years, compared to a 3.7% growth forecast for the Packaging industry in Europe.
Upcoming Dividend • Oct 30Upcoming dividend of €0.60 per shareEligible shareholders must have bought the stock before 06 November 2024. Payment date: 08 November 2024. Payout ratio is a comfortable 23% but the company is not cash flow positive. Trailing yield: 2.0%. Lower than top quartile of British dividend payers (5.9%). Lower than average of industry peers (3.4%).
공시 • Sep 05TFF Group, Annual General Meeting, Oct 25, 2024TFF Group, Annual General Meeting, Oct 25, 2024. Location: saint romain, dijon France
Reported Earnings • Sep 04Full year 2024 earnings released: EPS: €2.60 (vs €2.44 in FY 2023)Full year 2024 results: EPS: €2.60 (up from €2.44 in FY 2023). Revenue: €486.6m (up 11% from FY 2023). Net income: €56.4m (up 6.9% from FY 2023). Profit margin: 12% (in line with FY 2023). Revenue is forecast to grow 5.2% p.a. on average during the next 3 years, compared to a 4.3% growth forecast for the Packaging industry in Europe. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth.
Reported Earnings • Jul 10Full year 2024 earnings releasedFull year 2024 results: Revenue: €486.6m (up 11% from FY 2023). Net income: €56.5m (up 6.9% from FY 2023). Profit margin: 12% (in line with FY 2023). Revenue is forecast to grow 4.8% p.a. on average during the next 3 years, compared to a 3.9% growth forecast for the Packaging industry in Europe.
Buy Or Sell Opportunity • Feb 12Now 21% overvalued after recent price riseOver the last 90 days, the stock has risen 9.8% to €46.66. The fair value is estimated to be €38.70, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 24% over the last 3 years. Earnings per share has grown by 40%. Revenue is forecast to grow by 13% in 2 years. Earnings are forecast to grow by 27% in the next 2 years.
New Risk • Jan 31New major risk - Financial positionThe company's debt is not well covered by operating cash flow. Currently running at an operating cash loss. This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. This is currently the only risk that has been identified for the company.
Reported Earnings • Jan 13First half 2024 earnings releasedFirst half 2024 results: Revenue: €264.3m (up 14% from 1H 2023). Net income: €39.3m (up 4.1% from 1H 2023). Profit margin: 15% (down from 16% in 1H 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 6.1% p.a. on average during the next 3 years, compared to a 2.1% growth forecast for the Packaging industry in Europe.
Upcoming Dividend • Nov 01Upcoming dividend of €0.60 per share at 1.0% yieldEligible shareholders must have bought the stock before 08 November 2023. Payment date: 10 November 2023. Payout ratio is a comfortable 16% but the company is not cash flow positive. Trailing yield: 1.0%. Lower than top quartile of British dividend payers (6.7%). Lower than average of industry peers (4.1%).
Reported Earnings • Jul 15Full year 2023 earnings releasedFull year 2023 results: Revenue: €439.8m (up 45% from FY 2022). Net income: €52.8m (up 47% from FY 2022). Profit margin: 12% (in line with FY 2022). Revenue is forecast to grow 2.7% p.a. on average during the next 3 years, compared to a 3.1% growth forecast for the Packaging industry in Europe.
Reported Earnings • Jan 23First half 2023 earnings released: EPS: €1.74 (vs €0.71 in 1H 2022)First half 2023 results: EPS: €1.74 (up from €0.71 in 1H 2022). Revenue: €232.6m (up 62% from 1H 2022). Net income: €37.8m (up 145% from 1H 2022). Profit margin: 16% (up from 11% in 1H 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 5.0% p.a. on average during the next 3 years, compared to a 3.8% growth forecast for the Packaging industry in Europe. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth.
Upcoming Dividend • Nov 01Upcoming dividend of €0.40 per shareEligible shareholders must have bought the stock before 08 November 2022. Payment date: 10 November 2022. Payout ratio is a comfortable 24% and this is well supported by cash flows. Trailing yield: 1.1%. Lower than top quartile of British dividend payers (6.1%). Lower than average of industry peers (3.2%).
Reported Earnings • Jul 15Full year 2022 earnings releasedFull year 2022 results: Revenue: €302.6m (up 16% from FY 2021). Net income: €36.6m (up 83% from FY 2021). Profit margin: 12% (up from 7.7% in FY 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 20%, compared to a 19% growth forecast for the industry in the United Kingdom.
Valuation Update With 7 Day Price Move • Mar 14Investor sentiment improved over the past weekAfter last week's 17% share price gain to €31.50, the stock trades at a forward P/E ratio of 25x. Average forward P/E is 14x in the Packaging industry in Europe. Total loss to shareholders of 18% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €58.53 per share.
Reported Earnings • Jan 25First half 2022 earnings: EPS in line with analyst expectations despite revenue beatFirst half 2022 results: EPS: €0.71 (up from €0.60 in 1H 2021). Revenue: €143.3m (up 1.3% from 1H 2021). Net income: €15.4m (up 19% from 1H 2021). Profit margin: 11% (up from 9.2% in 1H 2021). Revenue exceeded analyst estimates by 2.6%. Over the next year, revenue is forecast to grow 8.1%, compared to a 12% growth forecast for the industry in the United Kingdom.
Valuation Update With 7 Day Price Move • Jan 11Investor sentiment improved over the past weekAfter last week's 17% share price gain to €32.30, the stock trades at a forward P/E ratio of 33x. Average forward P/E is 17x in the Packaging industry in Europe. Total loss to shareholders of 5.6% over the past three years.
Reported Earnings • Jul 16Full year 2021 earnings released: EPS €0.92 (vs €1.23 in FY 2020)The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2021 results: Revenue: €260.9m (down 6.7% from FY 2020). Net income: €20.0m (down 25% from FY 2020). Profit margin: 7.7% (down from 9.5% in FY 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 14% per year whereas the company’s share price has fallen by 12% per year.
Valuation Update With 7 Day Price Move • Nov 24Market bids up stock over the past weekAfter last week's 51% share price gain to €39.65, the stock is trading at a trailing P/E ratio of 22.1x, up from the previous P/E ratio of 14.7x. This compares to an average P/E of 15x in the Packaging industry in Europe. Total returns to shareholders over the past year are 7.5%.