Loading...

Société de Services de Participations de Direction et d'Elaboration

ENXTBR:SPA
Snowflake Description

Excellent balance sheet with solid track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
SPA
ENXTBR
€830M
Market Cap
  1. Home
  2. BE
  3. Food, Beverage & Tobacco
Company description

Société de Services, de Participations, de Direction et d'Elaboration produces and markets natural mineral water in Belgium. The last earnings update was 81 days ago. More info.


Add to Portfolio Compare Print
SPA Share Price and Events
7 Day Returns
-4.8%
ENXTBR:SPA
2.1%
Europe Beverage
2.7%
BE Market
1 Year Returns
-8.3%
ENXTBR:SPA
4.5%
Europe Beverage
-5.8%
BE Market
SPA Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Société de Services de Participations de Direction et d'Elaboration (SPA) -4.8% 0% -2% -8.3% 96% 183.7%
Europe Beverage 2.1% 2.6% 5.1% 4.5% 7.3% 41.3%
BE Market 2.7% 3.6% -0.9% -5.8% -10.7% 8.8%
1 Year Return vs Industry and Market
  • SPA underperformed the Beverage industry which returned 4.5% over the past year.
  • SPA underperformed the Market in Belgium which returned -5.8% over the past year.
Price Volatility
SPA
Industry
5yr Volatility vs Market

SPA Value

 Is Société de Services de Participations de Direction et d'Elaboration undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Société de Services de Participations de Direction et d'Elaboration to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Société de Services de Participations de Direction et d'Elaboration.

ENXTBR:SPA Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Extrapolated from most recent financials. See below
Discount Rate (Cost of Equity) See below 6.2%
Perpetual Growth Rate 10-Year BE Government Bond Rate 0.8%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for ENXTBR:SPA
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year BE Govt Bond Rate 0.8%
Equity Risk Premium S&P Global 6.8%
Beverage Unlevered Beta Simply Wall St/ S&P Global 0.56
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.559 (1 + (1- 29%) (6.32%))
0.721
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.8
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.77% + (0.8 * 6.8%)
6.21%

Discounted Cash Flow Calculation for ENXTBR:SPA using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Société de Services de Participations de Direction et d'Elaboration is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

ENXTBR:SPA DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (EUR, Millions) Source Present Value
Discounted (@ 6.21%)
2020 21.76 Est @ -8.82% 20.48
2021 20.46 Est @ -5.95% 18.14
2022 19.66 Est @ -3.93% 16.41
2023 19.16 Est @ -2.52% 15.06
2024 18.87 Est @ -1.53% 13.96
2025 18.71 Est @ -0.84% 13.03
2026 18.64 Est @ -0.36% 12.23
2027 18.64 Est @ -0.02% 11.51
2028 18.68 Est @ 0.22% 10.86
2029 18.75 Est @ 0.38% 10.27
Present value of next 10 years cash flows €141.96
ENXTBR:SPA DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= €18.75 × (1 + 0.77%) ÷ (6.21% – 0.77%)
€347.36
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= €347.36 ÷ (1 + 6.21%)10
€190.16
ENXTBR:SPA Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= €141.96 + €190.16
€332.12
Equity Value per Share
(EUR)
= Total value / Shares Outstanding
= €332.12 / 4.15
€80.02
ENXTBR:SPA Discount to Share Price
Calculation Result
Value per share (EUR) From above. €80.02
Current discount Discount to share price of €200.00
= -1 x (€200.00 - €80.02) / €80.02
-149.9%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Société de Services de Participations de Direction et d'Elaboration is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Société de Services de Participations de Direction et d'Elaboration's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Société de Services de Participations de Direction et d'Elaboration's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
ENXTBR:SPA PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in EUR €9.16
ENXTBR:SPA Share Price ** ENXTBR (2019-07-19) in EUR €200
Europe Beverage Industry PE Ratio Median Figure of 48 Publicly-Listed Beverage Companies 22.01x
Belgium Market PE Ratio Median Figure of 87 Publicly-Listed Companies 14.99x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Société de Services de Participations de Direction et d'Elaboration.

ENXTBR:SPA PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= ENXTBR:SPA Share Price ÷ EPS (both in EUR)

= 200 ÷ 9.16

21.84x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Société de Services de Participations de Direction et d'Elaboration is good value based on earnings compared to the Europe Beverage industry average.
  • Société de Services de Participations de Direction et d'Elaboration is overvalued based on earnings compared to the Belgium market.
Price based on expected Growth
Does Société de Services de Participations de Direction et d'Elaboration's expected growth come at a high price?
Raw Data
ENXTBR:SPA PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 21.84x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
-2.2%per year
Europe Beverage Industry PEG Ratio Median Figure of 30 Publicly-Listed Beverage Companies 2.58x
Belgium Market PEG Ratio Median Figure of 40 Publicly-Listed Companies 1.83x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Société de Services de Participations de Direction et d'Elaboration, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Société de Services de Participations de Direction et d'Elaboration's assets?
Raw Data
ENXTBR:SPA PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in EUR €46.78
ENXTBR:SPA Share Price * ENXTBR (2019-07-19) in EUR €200
Europe Beverage Industry PB Ratio Median Figure of 56 Publicly-Listed Beverage Companies 1.91x
Belgium Market PB Ratio Median Figure of 119 Publicly-Listed Companies 1.55x
ENXTBR:SPA PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= ENXTBR:SPA Share Price ÷ Book Value per Share (both in EUR)

= 200 ÷ 46.78

4.27x

* Primary Listing of Société de Services de Participations de Direction et d'Elaboration.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Société de Services de Participations de Direction et d'Elaboration is overvalued based on assets compared to the Europe Beverage industry average.
X
Value checks
We assess Société de Services de Participations de Direction et d'Elaboration's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Beverage industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Beverage industry average (and greater than 0)? (1 check)
  5. Société de Services de Participations de Direction et d'Elaboration has a total score of 1/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

SPA Future Performance

 How is Société de Services de Participations de Direction et d'Elaboration expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

  • No analysts cover Société de Services de Participations de Direction et d'Elaboration, future earnings growth has been estimated based on fundamentals.
The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
-2.2%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Société de Services de Participations de Direction et d'Elaboration expected to grow at an attractive rate?
  • Société de Services de Participations de Direction et d'Elaboration's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 0.8%.
Growth vs Market Checks
  • Société de Services de Participations de Direction et d'Elaboration's earnings are expected to decrease over the next 1-3 years, this is below the Belgium market average.
  • Unable to compare Société de Services de Participations de Direction et d'Elaboration's revenue growth to the Belgium market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
ENXTBR:SPA Future Growth Rates Data Sources
Data Point Source Value (per year)
ENXTBR:SPA Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts -2.2%
Europe Beverage Industry Earnings Growth Rate Market Cap Weighted Average 7.7%
Europe Beverage Industry Revenue Growth Rate Market Cap Weighted Average 4.6%
Belgium Market Earnings Growth Rate Market Cap Weighted Average 8%
Belgium Market Revenue Growth Rate Market Cap Weighted Average 3.8%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
ENXTBR:SPA Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (6 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
ENXTBR:SPA Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2018-12-31 314 42 38
2018-09-30 306 45 32
2018-06-30 299 47 25
2018-03-31 294 45 26
2017-12-31 289 44 26
2017-09-30 281 37 24
2017-06-30 273 29 22
2017-03-31 262 30 20
2016-12-31 250 31 17
2016-09-30 249 38 18
2016-06-30 247 45 19
2016-03-31 245 46 20

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Société de Services de Participations de Direction et d'Elaboration's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Unable to determine if Société de Services de Participations de Direction et d'Elaboration is high growth as no revenue estimate data is available.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
ENXTBR:SPA Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (6 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from Société de Services de Participations de Direction et d'Elaboration Company Filings, last reported 6 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ENXTBR:SPA Past Financials Data
Date (Data in EUR Millions) EPS *
2018-12-31 9.16
2018-09-30 7.60
2018-06-30 6.05
2018-03-31 6.20
2017-12-31 6.36
2017-09-30 5.88
2017-06-30 5.40
2017-03-31 4.78
2016-12-31 4.15
2016-09-30 4.34
2016-06-30 4.54
2016-03-31 4.80

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Société de Services de Participations de Direction et d'Elaboration will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Société de Services de Participations de Direction et d'Elaboration's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Europe market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Société de Services de Participations de Direction et d'Elaboration has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

SPA Past Performance

  How has Société de Services de Participations de Direction et d'Elaboration performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Société de Services de Participations de Direction et d'Elaboration's growth in the last year to its industry (Beverage).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Société de Services de Participations de Direction et d'Elaboration's year on year earnings growth rate has been positive over the past 5 years.
  • Société de Services de Participations de Direction et d'Elaboration's 1-year earnings growth exceeds its 5-year average (43.9% vs 16.6%)
  • Société de Services de Participations de Direction et d'Elaboration's earnings growth has exceeded the Europe Beverage industry average in the past year (43.9% vs 5.4%).
Earnings and Revenue History
Société de Services de Participations de Direction et d'Elaboration's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Société de Services de Participations de Direction et d'Elaboration Company Filings, last reported 6 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ENXTBR:SPA Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 314.38 38.00 61.51
2018-09-30 306.48 31.54 62.44
2018-06-30 298.58 25.09 63.38
2018-03-31 293.77 25.75 62.27
2017-12-31 288.97 26.41 61.16
2017-09-30 280.79 24.42 59.04
2017-06-30 272.61 22.43 56.93
2017-03-31 261.50 19.82 54.99
2016-12-31 250.39 17.22 53.06
2016-09-30 248.94 18.03 52.75
2016-06-30 247.48 18.84 52.43
2016-03-31 244.73 19.93 52.25
2015-12-31 241.99 21.01 52.07
2015-09-30 237.70 18.66 52.23
2015-06-30 233.42 16.31 52.39
2015-03-31 232.24 16.47 52.10
2014-12-31 231.06 16.62 51.82
2014-09-30 228.50 16.73 52.86
2014-06-30 225.94 16.84 53.89
2014-03-31 218.15 14.31 53.06
2013-12-31 210.36 11.78 52.23
2013-09-30 204.26 11.05 50.96
2013-06-30 198.16 10.33 49.70
2013-03-31 198.19 9.62 50.05
2012-12-31 198.23 8.92 50.40

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Société de Services de Participations de Direction et d'Elaboration has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Société de Services de Participations de Direction et d'Elaboration used its assets more efficiently than the Europe Beverage industry average last year based on Return on Assets.
  • Société de Services de Participations de Direction et d'Elaboration has improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Société de Services de Participations de Direction et d'Elaboration's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Beverage industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Société de Services de Participations de Direction et d'Elaboration has a total score of 5/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

SPA Health

 How is Société de Services de Participations de Direction et d'Elaboration's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Société de Services de Participations de Direction et d'Elaboration's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Société de Services de Participations de Direction et d'Elaboration is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Société de Services de Participations de Direction et d'Elaboration's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Société de Services de Participations de Direction et d'Elaboration's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 2.9x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Société de Services de Participations de Direction et d'Elaboration Company Filings, last reported 6 months ago.

ENXTBR:SPA Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 194.14 2.58 82.13
2018-09-30 194.14 2.58 82.13
2018-06-30 168.08 14.00 62.48
2018-03-31 168.08 14.00 62.48
2017-12-31 162.96 2.58 80.76
2017-09-30 162.96 2.58 80.76
2017-06-30 150.37 70.00 60.33
2017-03-31 150.37 70.00 60.33
2016-12-31 143.24 0.00 116.07
2016-09-30 143.24 0.00 116.07
2016-06-30 136.22 0.00 94.03
2016-03-31 136.22 0.00 94.03
2015-12-31 134.48 0.00 100.25
2015-09-30 134.48 0.00 100.25
2015-06-30 123.92 1.90 82.06
2015-03-31 123.92 1.90 82.06
2014-12-31 117.90 1.70 84.30
2014-09-30 117.90 1.70 84.30
2014-06-30 113.82 2.00 67.90
2014-03-31 113.82 2.00 67.90
2013-12-31 105.53 3.23 64.05
2013-09-30 105.53 3.23 64.05
2013-06-30 99.17 0.22 48.45
2013-03-31 99.17 0.22 48.45
2012-12-31 96.85 0.11 54.98
  • Société de Services de Participations de Direction et d'Elaboration's level of debt (27%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (3% vs 27% today).
  • Debt is well covered by operating cash flow (80.8%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 78.6x coverage).
X
Financial health checks
We assess Société de Services de Participations de Direction et d'Elaboration's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Société de Services de Participations de Direction et d'Elaboration has a total score of 5/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

SPA Dividends

 What is Société de Services de Participations de Direction et d'Elaboration's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
1%
Current annual income from Société de Services de Participations de Direction et d'Elaboration dividends.
If you bought €2,000 of Société de Services de Participations de Direction et d'Elaboration shares you are expected to receive €20 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Société de Services de Participations de Direction et d'Elaboration's pays a lower dividend yield than the bottom 25% of dividend payers in Belgium (2.34%).
  • Société de Services de Participations de Direction et d'Elaboration's dividend is below the markets top 25% of dividend payers in Belgium (4.63%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
ENXTBR:SPA Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
Europe Beverage Industry Average Dividend Yield Market Cap Weighted Average of 44 Stocks 1.9%
Belgium Market Average Dividend Yield Market Cap Weighted Average of 77 Stocks 3.5%
Belgium Minimum Threshold Dividend Yield 10th Percentile 1.2%
Belgium Bottom 25% Dividend Yield 25th Percentile 2.3%
Belgium Top 25% Dividend Yield 75th Percentile 4.6%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

ENXTBR:SPA Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2019-04-30 2.000 0.989
2018-04-30 1.800 0.841
2017-05-11 1.600 0.930
2016-05-06 1.600 1.458
2015-05-04 1.240 1.404
2015-03-26 1.240 1.497
2014-05-02 1.000 1.370
2013-05-02 0.840 1.223
2012-05-09 0.800 1.217
2011-03-03 1.000 1.796
2010-04-22 1.000 1.769
2010-03-30 1.000 1.830
2009-01-12 0.600 1.111

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Société de Services de Participations de Direction et d'Elaboration is not paying a notable dividend for Belgium, therefore no need to check if the payments are stable.
  • Société de Services de Participations de Direction et d'Elaboration is not paying a notable dividend for Belgium, therefore no need to check if the payments are increasing.
Current Payout to shareholders
What portion of Société de Services de Participations de Direction et d'Elaboration's earnings are paid to the shareholders as a dividend.
  • No need to calculate the sustainability of Société de Services de Participations de Direction et d'Elaboration's dividends as it is not paying a notable one for Belgium.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Société de Services de Participations de Direction et d'Elaboration's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.2%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Société de Services de Participations de Direction et d'Elaboration afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Société de Services de Participations de Direction et d'Elaboration has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

SPA Management

 What is the CEO of Société de Services de Participations de Direction et d'Elaboration's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Marc du Bois
COMPENSATION €763,790
CEO Bio

Mr. Marc du Bois serves as the Chief Executive Officer of Sociéte de Services, de Participations, de Direction et d'Elaboration. Mr. du Bois served as Deputy General Manager of Sociéte de Services, de Participations, de Direction et d'Elaboration and serves as its Member of the Board of Directors.

CEO Compensation
  • Marc's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Marc's remuneration is higher than average for companies of similar size in Belgium.
Management Team

Marc du Bois

TITLE
CEO & Director
COMPENSATION
€764K

Didier De Sorgher

TITLE
Group Finance Director

Vincent Mazy

TITLE
Group Operations Director

Bart Tuyls

TITLE
Group HR & Communication Director

Franck Lecomte

TITLE
Country Director UK & Digital Transformation Officer
Board of Directors

Johnny Thijs

TITLE
Chairman
COMPENSATION
€29K
AGE
67

Marc du Bois

TITLE
CEO & Director
COMPENSATION
€764K

Frank L. Meysman

TITLE
Director
COMPENSATION
€63K
AGE
67

Jean Vandemoortele

TITLE
Director

Axel Miller

TITLE
Director
COMPENSATION
€30K
AGE
55

Roland Vaxelaire

TITLE
Director
COMPENSATION
€40K

Anne Amory

TITLE
Director
COMPENSATION
€33K

Corinne Avelines

TITLE
Independent Director
COMPENSATION
€15K

Roel van Neerbos

TITLE
Director
COMPENSATION
€33K
AGE
60

Baron du Bois

TITLE
Director
COMPENSATION
€30K
Who owns this company?
Recent Insider Trading
  • No 3 month individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
X
Management checks
We assess Société de Services de Participations de Direction et d'Elaboration's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Société de Services de Participations de Direction et d'Elaboration has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

SPA News

Simply Wall St News

Does Société de Services, de Participations, de Direction et d'Elaboration's (EBR:SPA) P/E Ratio Signal A Buying Opportunity?

The formula for price to earnings is: Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS) Or for Société de Services de Participations de Direction et d'Elaboration: P/E of 21.84 = €200 ÷ €9.16 (Based on the trailing twelve months to December 2018.) Is A High P/E Ratio Good? … Société de Services de Participations de Direction et d'Elaboration increased earnings per share by a whopping 44% last year. … The Verdict On Société de Services de Participations de Direction et d'Elaboration's P/E Ratio Société de Services de Participations de Direction et d'Elaboration has a P/E of 21.8.

Simply Wall St -

Does Sociéte de Services,de Participations,de Direction et d'Elaboration's (EBR:SPA) CEO Pay Compare Well With Peers?

See our latest analysis for Sociéte de Servicesde Participationsde Direction et d'Elaboration How Does Marc du Bois's Compensation Compare With Similar Sized Companies? … According to our data, Sociéte de Services,de Participations,de Direction et d'Elaboration has a market capitalization of €863m, and pays its CEO total annual compensation worth €849k. … We compared total CEO remuneration at Sociéte de Services,de Participations,de Direction et d'Elaboration with the amount paid at companies with a similar market capitalization.

Simply Wall St -

How Does Sociéte de Services,de Participations,de Direction et d'Elaboration's (EBR:SPA) Earnings Growth Stack Up Against Industry Performance?

See our latest analysis for Sociéte de Servicesde Participationsde Direction et d'Elaboration Did SPA beat its long-term earnings growth trend and its industry? … Let's take a look at if it is solely due to industry tailwinds, or if Sociéte de Servicesde Participationsde Direction et d'Elaboration has seen some company-specific growth. … I recommend you continue to research Sociéte de Servicesde Participationsde Direction et d'Elaboration to get a more holistic view of the stock by looking at: Future Outlook: What are well-informed industry analysts predicting for SPA’s future growth?

Simply Wall St -

Should You Like Sociéte de Services,de Participations,de Direction et d'Elaboration’s (EBR:SPA) High Return On Capital Employed?

Specifically, we're going to calculate its Return On Capital Employed (ROCE), in the hopes of getting some insight into the business. … Understanding Return On Capital Employed (ROCE). … Analysts use this formula to calculate return on capital employed:

Simply Wall St -

Did Business Growth Power Sociéte de Servicesde Participationsde Direction et d'Elaboration's (EBR:SPA) Share Price Gain of 187%?

But on a lighter note, a good company can see its share price rise well over 100%. … One flawed but reasonable way to assess how sentiment around a company has changed is to compare the earnings per share (EPS) with the share price. … During five years of share price growth, Sociéte de Servicesde Participationsde Direction et d'Elaboration achieved compound earnings per share (EPS) growth of 19% per year.

Simply Wall St -

What You Must Know About Sociéte de Services,de Participations,de Direction et d'Elaboration's (EBR:SPA) Financial Strength

While small-cap stocks, such as Sociéte de Services,de Participations,de Direction et d'Elaboration (EBR:SPA) with its market cap of €888m, are popular for their explosive growth, investors should also be aware of their balance sheet to judge whether the company can survive a downturn.

Simply Wall St -

How Do Sociéte de Services,de Participations,de Direction et d'Elaboration’s (EBR:SPA) Returns On Capital Compare To Peers?

Specifically, we're going to calculate its Return On Capital Employed (ROCE), in the hopes of getting some insight into the business. … What is Return On Capital Employed (ROCE)? … ROCE measures the 'return' (pre-tax profit) a company generates from capital employed in its business.

Simply Wall St -

Don't Sell Sociéte de Servicesde Participationsde Direction et d'Elaboration (EBR:SPA) Before You Read This

We'll look at Sociéte de Servicesde Participationsde Direction et d'Elaboration's (EBR:SPA) P/E ratio and reflect on what it tells us about the company's share price. … Based on the last twelve months, Sociéte de Servicesde Participationsde Direction et d'Elaboration's P/E ratio is 37.72. … View our latest analysis for Sociéte de Servicesde Participationsde Direction et d'Elaboration?

Simply Wall St -

Sociéte de Servicesde Participationsde Direction et d'Elaboration (EBR:SPA): Time For A Financial Health Check

However, an important fact which most ignore is: how financially healthy is the business? … So, understanding the company's financial health becomes. … Here are few basic financial health checks you should consider before taking the plunge.

Simply Wall St -

What Should Investors Know About Sociéte de Servicesde Participationsde Direction et d'Elaboration's (EBR:SPA) Capital Returns?

and want to better understand how you can grow your money by investing in Sociéte de Servicesde Participationsde Direction et d'Elaboration (EBR:SPA). … To understand Sociéte de Servicesde Participationsde Direction et d'Elaboration’s capital returns we will look at a useful metric called return on capital employed. … Check out our latest analysis for Sociéte de Servicesde Participationsde Direction et d'Elaboration

Simply Wall St -

SPA Company Info

Description

Société de Services, de Participations, de Direction et d'Elaboration produces and markets natural mineral water in Belgium. It offers natural mineral water under the Spa, Bru, Wattwiller, Carola, Brecon Carreg, and Devin brands. The company is based in Woluwe-Saint-Lambert, Belgium. Société de Services, de Participations, de Direction et d'Elaboration is a subsidiary of Finances Et Industries SA.

Details
Name: Société de Services, de Participations, de Direction et d'Elaboration
SPA
Exchange: ENXTBR
Founded:
€830,070,000
4,150,350
Website: http://www.spadel.com
Address: Société de Services, de Participations, de Direction et d'Elaboration
Avenue des Communautés 110,
Woluwe-Saint-Lambert,
Brussels, 1200,
Belgium
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
ENXTBR SPA Registered Personal Shares Euronext Brussels BE EUR 02. Jan 1992
Number of employees
Current staff
Staff numbers
1,323
Société de Services de Participations de Direction et d'Elaboration employees.
Industry
Soft Drinks
Food, Beverage & Tobacco
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/07/20 20:52
End of day share price update: 2019/07/19 00:00
Last earnings filing: 2019/04/30
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.