ENXTBR:SIP

Stock Analysis Report

Executive Summary

SIPEF NV operates as an agro-industrial company.

Snowflake

Fundamentals

Reasonable growth potential with mediocre balance sheet.

Share Price & News

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


Latest Share Price and Events


Market Performance


7 Day Return

-0.6%

SIP

-0.8%

BE Food

-0.1%

BE Market


1 Year Return

-18.2%

SIP

-7.7%

BE Food

7.2%

BE Market

Return vs Industry: SIP underperformed the Belgian Food industry which returned -7.7% over the past year.

Return vs Market: SIP underperformed the Belgian Market which returned 7.2% over the past year.


Shareholder returns

SIPIndustryMarket
7 Day-0.6%-0.8%-0.1%
30 Day-2.0%-2.6%-1.6%
90 Day4.4%3.3%4.1%
1 Year-17.4%-18.2%-6.9%-7.7%9.8%7.2%
3 Year-10.9%-16.7%-9.2%-11.9%-5.8%-12.4%
5 Year-11.1%-19.2%105.1%93.1%29.6%13.6%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

4308.78x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Undervalued: SIP (€42.3) is trading above our estimate of fair value (€14.85)

Significantly Undervalued: SIP is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: SIP is poor value based on its PE Ratio (4308.8x) compared to the Food industry average (24.6x).

PE vs Market: SIP is poor value based on its PE Ratio (4308.8x) compared to the Belgian market (16x).


Price to Earnings Growth Ratio

Low PEG Ratio: SIP is poor value based on its PEG Ratio (72.5x)


Price to Book Ratio

PB vs Industry: SIP is good value based on its PB Ratio (0.8x) compared to the BE Food industry average (1.5x).


Next Steps

Future Growth

How is Sipef forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

59.5%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: SIP's forecast earnings growth (59.5% per year) is above the savings rate (0.8%).

Earnings vs Market: SIP's earnings (59.5% per year) are forecast to grow faster than the Belgian market (6.5% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: SIP's revenue (13.7% per year) is forecast to grow faster than the Belgian market (3.7% per year).

High Growth Revenue: SIP's revenue (13.7% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

High Future ROE: Insufficient data to determine if SIP's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has Sipef performed over the past 5 years?

4.3%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: SIP's earnings have grown by 4.3% per year over the past 5 years.

Accelerating Growth: SIP's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: SIP had negative earnings growth (-99.8%) over the past year, making it difficult to compare to the Food industry average (2.1%).


Return on Equity

High ROE: SIP's Return on Equity (0.1%) is considered low.


Return on Assets

ROA vs Industry: SIP's Return on Assets is below or equal to the Food industry average last year.


Return on Capital Employed

ROCE Improving: SIP's Return on Capital Employed has declined over the past 3 years.


Next Steps

Financial Health

How is Sipef's financial position?


Financial Position Analysis

Short Term Liabilities: SIP's short term assets ($139.9M) do not cover its short term liabilities ($165.3M)

Long Term Liabilities: SIP's short term assets (139.9M) exceeds its long term liabilities (99.2M)


Debt to Equity History and Analysis

Debt Level: SIP's debt to equity ratio (23.5%) is considered satisfactory

Reducing Debt: SIP's debt to equity ratio has increased from 10.8% to 23.5% over the past 5 years.

Debt Coverage: SIP's debt is well covered by operating cash flow (21.4%).

Interest Coverage: SIP's interest payments on its debt are not well covered by EBIT (1.8x coverage).


Balance Sheet

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

Debt Coverage by Assets: SIP's debt is not covered by short term assets (assets are 0.9x debt).


Next Steps

  • Explore more healthy companies in the Food, Beverage & Tobacco industry.

Dividend

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

1.29%

Current Dividend Yield


Dividend Yield vs Market

company1.3%marketbottom25%2.1%markettop25%4.5%industryaverage1.4%forecastin3Years1.9%

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: SIP's dividend (1.29%) isn’t notable compared to the bottom 25% of dividend payers in the Belgian market (2.14%).

High Dividend: SIP's dividend (1.29%) is low compared to the top 25% of dividend payers in the Belgian market (4.46%).

Stable Dividend: SIP's dividend payments have been volatile in the past 10 years.

Growing Dividend: SIP's dividend payments have fallen over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its high payout ratio (5820.5%), SIP's dividend payments are not well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: SIP's dividends in 3 years are forecast to be well covered by earnings (33.1% payout ratio).


Next Steps

Management

What is the CEO of Sipef's salary, the management and board of directors tenure and is there insider trading?

3.3yrs

Average board tenure


CEO

Sipef has no CEO, or we have no data on them.


Board Age and Tenure

3.3yrs

Average Tenure

63yo

Average Age

Experienced Board: SIP's board of directors are considered experienced (3.3 years average tenure).


Insider Trading

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


Ownership Breakdown


Management Team

  • Thomas Hildenbrand

    Manager of Fruit Department & Member of Executive Committee

    • Tenure: 0yrs
  • Charles Wulf (75yo)

    Manager of Estates Department & Member of Executive Committee

    • Tenure: 0yrs

Board Members

  • Regnier Haegelsteen (69yo)

    Non-Executive Director

    • Tenure: 0yrs
    • Compensation: US$43.95k
  • Luc Bertrand (68yo)

    Chairman

    • Tenure: 3.3yrs
  • Tom Bamelis (53yo)

    Director

    • Tenure: 1.8yrs
    • Compensation: US$14.50k
  • Priscilla Bracht (42yo)

    Non-Executive Director

    • Tenure: 0yrs
    • Compensation: US$29.00k
  • Jacques Delen (70yo)

    Non-Executive Director

    • Tenure: 0yrs
    • Compensation: US$29.00k
  • Antoine Friling (61yo)

    Independent Non-Executive Director

    • Tenure: 8.3yrs
    • Compensation: US$40.50k
  • Sophie Lammerant-Velge (63yo)

    Independent Non-Executive Director

    • Tenure: 8.1yrs
    • Compensation: US$40.50k
  • Bryan Dyer (70yo)

    Independent Non-Executive Director

    • Tenure: 4.3yrs
    • Compensation: US$29.00k
  • Petra Meekers (46yo)

    Independent Director

    • Tenure: 1.9yrs
    • Compensation: US$29.00k
  • Nicholas Thompson

    Independent Director

    • Tenure: 0.3yrs

Company Information

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


Key Information

  • Name: Sipef NV
  • Ticker: SIP
  • Exchange: ENXTBR
  • Founded: 1919
  • Industry: Agricultural Products
  • Sector: Food, Beverage & Tobacco
  • Market Cap: €441.444m
  • Shares outstanding: 10.44m
  • Website: https://www.sipef.com

Number of Employees


Location

  • Sipef NV
  • Kasteel Calesberg
  • Calesbergdreef 5
  • Schoten
  • Antwerp
  • 2900
  • Belgium

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
SIPENXTBR (Euronext Brussels)YesOrdinary SharesBEEURJan 1992
0JSULSE (London Stock Exchange)YesOrdinary SharesGBEURJan 1992
SISA.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDJan 1992
SIPBBATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary SharesGBEURJan 1992

Biography

SIPEF NV operates as an agro-industrial company. The company operates through Palm, Rubber, Tea, and Bananas and Flowers segments. Its products include fresh fruit bunches, crude palm oil, palm kernel oil, ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/14 20:39
End of Day Share Price2019/10/14 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.