ENXTBR:RES

Stock Analysis Report

NOT FOR DISTRIBUTION
Header cover image

Executive Summary

Resilux NV manufactures and sells polyethylene terephthalate (PET) preforms and bottles worldwide.


Snowflake Analysis

Flawless balance sheet second-rate dividend payer.

Share Price & News

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


Latest Share Price and Events

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


Market Performance


7 Day Return

-1.6%

RES

0.5%

BE Packaging

-3.7%

BE Market


1 Year Return

-9.4%

RES

5.2%

BE Packaging

-24.0%

BE Market

Return vs Industry: RES underperformed the Belgian Packaging industry which returned 6.1% over the past year.

Return vs Market: RES exceeded the Belgian Market which returned -22% over the past year.


Shareholder returns

RESIndustryMarket
7 Day-1.6%0.5%-3.7%
30 Day-2.7%-2.3%-0.02%
90 Day-3.4%15.0%7.9%
1 Year-7.9%-9.4%7.2%5.2%-22.8%-24.0%
3 Year-5.4%-18.2%6.8%-2.8%-25.2%-29.7%
5 Year-5.4%-19.7%43.6%23.5%-22.0%-30.4%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

15.41x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: RES (€126) is trading above our estimate of fair value (€41.98)

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


Price To Earnings Ratio

PE vs Industry: RES is poor value based on its PE Ratio (15.4x) compared to the Packaging industry average (15.1x).

PE vs Market: RES is poor value based on its PE Ratio (15.4x) compared to the Belgian market (14.3x).


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate RES's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: RES is overvalued based on its PB Ratio (1.7x) compared to the XE Packaging industry average (1.6x).


Next Steps

Future Growth

How is Resilux forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?

4.7%

Forecasted annual revenue growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: Insufficient data to determine if RES's forecast earnings growth is above the savings rate (1.6%).

Earnings vs Market: Insufficient data to determine if RES's earnings are forecast to grow faster than the Belgian market

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

Revenue vs Market: RES's revenue (4.7% per year) is forecast to grow faster than the Belgian market (3% per year).

High Growth Revenue: RES's revenue (4.7% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

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


Next Steps

Past Performance

How has Resilux performed over the past 5 years?

-4.0%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: RES has high quality earnings.

Growing Profit Margin: RES's current net profit margins (4%) are lower than last year (4.6%).


Past Earnings Growth Analysis

Earnings Trend: RES's earnings have declined by -4% per year over the past 5 years.

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

Earnings vs Industry: RES had negative earnings growth (-11.3%) over the past year, making it difficult to compare to the Packaging industry average (15.6%).


Return on Equity

High ROE: RES's Return on Equity (11.1%) is considered low.


Next Steps

Financial Health

How is Resilux's financial position?


Financial Position Analysis

Short Term Liabilities: RES's short term assets (€141.8M) exceed its short term liabilities (€107.9M).

Long Term Liabilities: RES's short term assets (€141.8M) exceed its long term liabilities (€24.9M).


Debt to Equity History and Analysis

Debt Level: RES's debt to equity ratio (38.8%) is considered satisfactory.

Reducing Debt: RES's debt to equity ratio has reduced from 55.8% to 38.8% over the past 5 years.

Debt Coverage: RES's debt is well covered by operating cash flow (32.8%).

Interest Coverage: RES's interest payments on its debt are well covered by EBIT (10.3x coverage).


Balance Sheet


Next Steps

Dividend

What is Resilux current dividend yield, its reliability and sustainability?

2.38%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: RES's dividend (2.38%) isn’t notable compared to the bottom 25% of dividend payers in the Belgian market (2.59%).

High Dividend: RES's dividend (2.38%) is low compared to the top 25% of dividend payers in the Belgian market (5.5%).


Stability and Growth of Payments

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

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


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (36.7%), RES's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

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

1.3yrs

Average board tenure


CEO

Dirk De Cuyper

no data

Tenure

Mr. Dirk De Cuyper is the Co-Founder and Chief Executive Officer at Dorge Medic SA. Mr. De Cuyper serves as the Chief Executive Officer and Managing Director of Resilux SA. From 1985 to 1987, Mr. De Cuyper ...


Board Members

NamePositionTenureCompensationOwnership
Annelies Goos
Legal Counsel1.17yrs€12.50kno data
Dirk De Cuyper
CEO, MD & Executive Directorno datano data2.6% 6.6m
Peter De Cuyper
MD & Executive Directorno datano data2.76% 7.0m
Luc Geuten
Non-Executive & Independent Director2.33yrs€20.00kno data
Francis Vanderhoydonck
Chairman1.17yrs€32.50kno data
Martine Snels
Non Executive Independent Director1.33yrs€12.50kno data
Johan Vanovenberghe
Non-Executive & Independent Director2.42yrs€20.00kno data

1.3yrs

Average Tenure

62yo

Average Age

Experienced Board: RES's board of directors are not considered experienced ( 1.3 years average tenure), which suggests a new board.


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

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


Key Information

  • Name: Resilux NV
  • Ticker: RES
  • Exchange: ENXTBR
  • Founded: 1992
  • Industry: Metal and Glass Containers
  • Sector: Materials
  • Market Cap: €252.927m
  • Shares outstanding: 2.01m
  • Website: https://www.resilux.com

Number of Employees


Location

  • Resilux NV
  • Damstraat 4
  • Wetteren
  • East Flanders
  • 9230
  • Belgium

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
RESENXTBR (Euronext Brussels)YesBearer SharesBEEUROct 1997
0FSNLSE (London Stock Exchange)YesBearer SharesGBEUROct 1997
RESBBATS-CHIXE (BATS 'Chi-X Europe')YesBearer SharesGBEUROct 1997

Biography

Resilux NV manufactures and sells polyethylene terephthalate (PET) preforms and bottles worldwide. Its preforms and bottles are used for packaging water, carbonated soft drinks, edible oils, ketchups, detergents, milk, beers, soft drinks, wines, fruit juices, and other applications. The company also offers PET wide mouth jars, packaging foils, and blister packs. In addition, it provides in-house, wall-to-wall, and satellite blowing services; and PET recycling services. The company primarily serves producers of drink, food, and household products. The company was founded in 1992 and is headquartered in Wetteren, Belgium. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/07/01 20:59
End of Day Share Price2020/07/01 00:00
Earnings2019/12/31
Annual Earnings2019/12/31


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.