ENXTBR:SIOE

Stock Analysis Report

Executive Summary

Sioen Industries NV engages in spinning, weaving, and coating of technical textiles; manufacture of professional protective clothing; and production of fine chemicals worldwide.

Rewards

PE ratio (14.3x) is below the Belgian market (17.1x)

Earnings are forecast to grow 11.74% per year

Earnings grew by 13.3% over the past year

Pays a high and reliable dividend of 2.86%

Risk Analysis

Has a high level of debt



Snowflake Analysis

Solid track record with excellent balance sheet and pays a dividend.

Share Price & News

How has Sioen Industries's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: SIOE has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

-1.1%

SIOE

0.7%

BE Luxury

0.8%

BE Market


1 Year Return

-7.3%

SIOE

25.9%

BE Luxury

8.7%

BE Market

Return vs Industry: SIOE underperformed the Belgian Luxury industry which returned 25.7% over the past year.

Return vs Market: SIOE underperformed the Belgian Market which returned 8.7% over the past year.


Shareholder returns

SIOEIndustryMarket
7 Day-1.1%0.7%0.8%
30 Day-3.3%-5.8%0.2%
90 Day-4.0%2.2%0.9%
1 Year-5.7%-7.3%29.2%25.9%10.9%8.7%
3 Year-18.7%-22.0%80.3%68.6%-2.6%-9.0%
5 Year75.3%61.7%114.4%92.0%2.6%-9.4%

Price Volatility Vs. Market

How volatile is Sioen Industries's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Sioen Industries undervalued compared to its fair value and its price relative to the market?

14.27x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: SIOE (€21.7) is trading above our estimate of fair value (€12.25)

Significantly Below Fair Value: SIOE is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: SIOE is good value based on its PE Ratio (14.3x) compared to the Luxury industry average (18.8x).

PE vs Market: SIOE is good value based on its PE Ratio (14.3x) compared to the Belgian market (17.1x).


Price to Earnings Growth Ratio

PEG Ratio: SIOE is poor value based on its PEG Ratio (1.2x)


Price to Book Ratio

PB vs Industry: SIOE is overvalued based on its PB Ratio (1.9x) compared to the XE Luxury industry average (1.2x).


Next Steps

Future Growth

How is Sioen Industries forecast to perform in the next 1 to 3 years based on estimates from 3 analysts?

11.7%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: SIOE's forecast earnings growth (11.7% per year) is above the savings rate (0.7%).

Earnings vs Market: SIOE's earnings (11.7% per year) are forecast to grow faster than the Belgian market (8% per year).

High Growth Earnings: SIOE's earnings are forecast to grow, but not significantly.

Revenue vs Market: SIOE's revenue (4.3% per year) is forecast to grow faster than the Belgian market (2.7% per year).

High Growth Revenue: SIOE's revenue (4.3% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: SIOE's Return on Equity is forecast to be low in 3 years time (14%).


Next Steps

Past Performance

How has Sioen Industries performed over the past 5 years?

11.2%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: SIOE has high quality earnings.

Growing Profit Margin: SIOE's current net profit margins (5.9%) are higher than last year (5.4%).


Past Earnings Growth Analysis

Earnings Trend: SIOE's earnings have grown by 11.2% per year over the past 5 years.

Accelerating Growth: SIOE's earnings growth over the past year (13.3%) exceeds its 5-year average (11.2% per year).

Earnings vs Industry: SIOE earnings growth over the past year (13.3%) exceeded the Luxury industry -7.1%.


Return on Equity

High ROE: SIOE's Return on Equity (13.4%) is considered low.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Sioen Industries's financial position?


Financial Position Analysis

Short Term Liabilities: SIOE's short term assets (€248.4M) exceed its short term liabilities (€125.9M).

Long Term Liabilities: SIOE's short term assets (€248.4M) exceed its long term liabilities (€143.6M).


Debt to Equity History and Analysis

Debt Level: SIOE's debt to equity ratio (64.3%) is considered high.

Reducing Debt: SIOE's debt to equity ratio has reduced from 84.5% to 64.3% over the past 5 years.

Debt Coverage: SIOE's debt is well covered by operating cash flow (31.3%).

Interest Coverage: SIOE's interest payments on its debt are well covered by EBIT (15.2x coverage).


Balance Sheet

Inventory Level: SIOE has a high level of physical assets or inventory.

Debt Coverage by Assets: SIOE's debt is covered by short term assets (assets are 1.7x debt).


Next Steps

Dividend

What is Sioen Industries's current dividend yield, its reliability and sustainability?

2.86%

Current Dividend Yield


Dividend Yield vs Market

company2.9%marketbottom25%2.0%markettop25%4.3%industryaverage1.6%forecastin3Years3.2%

Current dividend yield vs market & industry

Notable Dividend: SIOE's dividend (2.86%) is higher than the bottom 25% of dividend payers in the Belgian market (2%).

High Dividend: SIOE's dividend (2.86%) is low compared to the top 25% of dividend payers in the Belgian market (4.29%).


Stability and Growth of Payments

Stable Dividend: SIOE's dividends per share have been stable in the past 10 years.

Growing Dividend: SIOE's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (40.8%), SIOE's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: SIOE's dividends in 3 years are forecast to be well covered by earnings (42.2% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

4.1yrs

Average board tenure


CEO

Michèle Sioen (54yo)

€722,479

Compensation

Mrs. Michèle Sioen has been the Chief Executive Officer of Sioen Industries NV since 2005 and has been its Managing Director since March 22, 2005 and serves as its Member of Management Committee. She serve ...


CEO Compensation Analysis

Compensation vs Market: Michèle's total compensation ($USD783.34K) is above average for companies of similar size in the Belgian market ($USD486.09K).

Compensation vs Earnings: Michèle's compensation has been consistent with company performance over the past year.


Board Members

NamePositionTenureCompensationOwnership
Michèle Sioen
CEO, MD0yrs€722.48kno data
Pascale Sioen
CEO of Sioen Chemicals0yrs€22.00kno data
Dirk Meeus
Non-Executive Independent Director4.1yrs€31.50kno data
Jacqueline Sioen-Zoete
Non Executive Director0yrs€138.63kno data
Danielle Parein-Sioen
Non-Executive Director0yrs€22.00kno data
Knight Luc A. C. Vandewalle
Non-Executive Director0yrs€34.00kno data
Pierre Macharis
Non-Executive Independent Director4.1yrs€17.60kno data
Jules Noten
Non-Executive Independent Director9.1yrs€31.50kno data
Michel Delbaere
Independent Chairman3.8yrs€47.00kno data

4.1yrs

Average Tenure

59yo

Average Age

Experienced Board: SIOE's board of directors are considered experienced (4.1 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Sioen Industries NV's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Sioen Industries NV
  • Ticker: SIOE
  • Exchange: ENXTBR
  • Founded: 1960
  • Industry: Textiles
  • Sector: Consumer Durables
  • Market Cap: €429.225m
  • Shares outstanding: 19.78m
  • Website: https://www.sioen.com

Number of Employees


Location

  • Sioen Industries NV
  • Fabriekstraat 23
  • Ardooie
  • West Flanders
  • 8850
  • Belgium

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
SIOEENXTBR (Euronext Brussels)YesOrdinary SharesBEEUROct 1996
0NOHLSE (London Stock Exchange)YesOrdinary SharesGBEUROct 1996
SIOEBBATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary SharesGBEUROct 1996

Biography

Sioen Industries NV engages in spinning, weaving, and coating of technical textiles; manufacture of professional protective clothing; and production of fine chemicals worldwide. The company’s Coating division offers yarns and woven fabrics; non-woven fabrics, including films and sheets for automotive and industrial sector; technical felts and filters; coated technical textiles; and finished products, as well as processes coated fabrics and PVC membranes for industrial applications. Its Apparel division provides professional and chainsaw protective clothing; forestry clothing; firefighters clothing; floatation suits and life jackets; stab, slash, and bullet proof garments; and outdoor leisure wear, hunting, and fishing garments. The company’s Chemicals division provides pigment pastes, printing inks and extenders, varnishes, digital inks, color dispersions, and clearing agents. It also engages in real estate activities. The company was founded in 1960 and is based in Ardooie, Belgium. Sioen Industries NV is a subsidiary of Sihold NV. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/02/16 20:49
End of Day Share Price2020/02/14 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.