ENXTBR:ELI

Stock Analysis Report

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Executive Summary

Elia Group SA/NV operates a transmission system for the electricity network, and for the offshore grids in Belgium and internationally.


Snowflake Analysis

Average dividend payer with limited growth.


Similar Companies

Share Price & News

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


Latest Share Price and Events

Stable Share Price: ELI's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

1.9%

ELI

5.0%

BE Electric Utilities

7.4%

BE Market


1 Year Return

69.5%

ELI

8.5%

BE Electric Utilities

-19.1%

BE Market

Return vs Industry: ELI exceeded the Belgian Electric Utilities industry which returned 8.4% over the past year.

Return vs Market: ELI exceeded the Belgian Market which returned -19.2% over the past year.


Shareholder returns

ELIIndustryMarket
7 Day1.9%5.0%7.4%
30 Day0.6%6.8%0.7%
90 Day11.4%-8.2%-10.8%
1 Year73.7%69.5%12.4%8.5%-18.0%-19.1%
3 Year118.1%104.5%45.2%27.6%-30.2%-34.3%
5 Year216.4%183.3%45.1%13.4%-25.1%-33.0%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

27.04x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: ELI (€105.6) is trading above our estimate of fair value (€30.87)

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


Price To Earnings Ratio

PE vs Industry: ELI is poor value based on its PE Ratio (27x) compared to the Electric Utilities industry average (11.2x).

PE vs Market: ELI is poor value based on its PE Ratio (27x) compared to the Belgian market (14x).


Price to Earnings Growth Ratio

PEG Ratio: ELI is poor value based on its PEG Ratio (4x)


Price to Book Ratio

PB vs Industry: ELI is overvalued based on its PB Ratio (1.8x) compared to the XE Electric Utilities industry average (0.8x).


Next Steps

Future Growth

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

6.8%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: ELI's forecast earnings growth (6.8% per year) is above the savings rate (1.6%).

Earnings vs Market: ELI's earnings (6.8% per year) are forecast to grow slower than the Belgian market (19.1% per year).

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

Revenue vs Market: ELI's revenue (5.4% per year) is forecast to grow faster than the Belgian market (3% per year).

High Growth Revenue: ELI's revenue (5.4% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: ELI's Return on Equity is forecast to be low in 3 years time (6.7%).


Next Steps

Past Performance

How has Elia Group performed over the past 5 years?

9.4%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: ELI has high quality earnings.

Growing Profit Margin: ELI's current net profit margins (11.3%) are lower than last year (14.2%).


Past Earnings Growth Analysis

Earnings Trend: ELI's earnings have grown by 9.4% per year over the past 5 years.

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

Earnings vs Industry: ELI had negative earnings growth (-7.6%) over the past year, making it difficult to compare to the Electric Utilities industry average (8.8%).


Return on Equity

High ROE: ELI's Return on Equity (7.1%) is considered low.


Next Steps

Financial Health

How is Elia Group's financial position?


Financial Position Analysis

Short Term Liabilities: ELI's short term assets (€1.5B) do not cover its short term liabilities (€3.6B).

Long Term Liabilities: ELI's short term assets (€1.5B) do not cover its long term liabilities (€5.9B).


Debt to Equity History and Analysis

Debt Level: ELI's debt to equity ratio (148.1%) is considered high.

Reducing Debt: ELI's debt to equity ratio has increased from 119.7% to 148.1% over the past 5 years.

Debt Coverage: ELI's debt is not well covered by operating cash flow (1.1%).

Interest Coverage: ELI's interest payments on its debt are well covered by EBIT (5.7x coverage).


Balance Sheet


Next Steps

Dividend

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

1.60%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: ELI's dividend (1.6%) isn’t notable compared to the bottom 25% of dividend payers in the Belgian market (2.42%).

High Dividend: ELI's dividend (1.6%) is low compared to the top 25% of dividend payers in the Belgian market (5.76%).


Stability and Growth of Payments

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

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


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (43.3%), ELI's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: ELI's dividends in 3 years are forecast to be well covered by earnings (39.4% payout ratio).


Next Steps

Management

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

4.2yrs

Average management tenure


CEO

Chris Peeters

4.83yrs

Tenure

€182,648

Compensation

Mr. Chris Peeters has been the Chief Executive Officer of Elia Group SA/NV (formerly known as Elia System Operator SA) since July 6, 2015 and also serves as it's Chairman. Mr. Peeters serves as the Chief E ...


CEO Compensation Analysis

Compensation vs Market: Chris's total compensation ($USD0.00) is below average for companies of similar size in the Belgian market ($USD2.43M).

Compensation vs Earnings: Insufficient data to compare Chris's compensation with company performance.


Leadership Team

NamePositionTenureCompensationOwnership
Chris Peeters
CEO & Chairman4.83yrs€182.65k0.0055% 396.6k
Catherine Vandenborre
Chief Financial Officer6.58yrsno data0.0021% 150.1k
Yannick Dekoninck
Investor Relations Officerno datano datano data
Peter Michiels
Chief Human Resources & Internal Communication Officer3.33yrsno data0.0012% 88.4k
Markus Berger
Chief Infrastructure Officerno datano data0.0075% 544.5k
Frédéric Dunon
Chief Assets Officer4.17yrsno data0.0033% 239.2k
Ilse Tant
Chief Community Relations Officer6.33yrsno data0.0036% 259.5k
Pascale Fonck
Chief External Relations Officer3.83yrsno data0.00096% 69.6k
Patrick Leener
Chief Customers3.17yrsno data0.0039% 279.8k
Menno Janssens
Head of Innovationno datano datano data

4.2yrs

Average Tenure

Experienced Management: ELI's management team is considered experienced (4.2 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Frank Donck
Independent Director6yrsno datano data
Luc Hujoel
Director6yrsno datano data
Claude Grégoire
Vice-Chairman of the Board of Directors2yrsno datano data
Geert Versnick
Vice-Chairman of the Board of Directors2yrsno datano data
Ronnie Belmans
Honorary Chairman10yrs€21.91kno data
Dominique Offergeld
Director10yrsno datano data
Michel Allé
Independent Director3.83yrsno datano data
Bernard Gustin
Independent Chairman2.42yrsno datano data
Cécile Flandre
Director7.17yrsno datano data
Luc De Temmerman
Independent Director6yrsno datano data

6.0yrs

Average Tenure

64yo

Average Age

Experienced Board: ELI's board of directors are considered experienced (6 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 been diluted in the past year, with total shares outstanding growing by 12.5%.


Top Shareholders

Company Information

Elia Group SA/NV's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Elia Group SA/NV
  • Ticker: ELI
  • Exchange: ENXTBR
  • Founded:
  • Industry: Electric Utilities
  • Sector: Utilities
  • Market Cap: €7.250b
  • Shares outstanding: 68.65m
  • Website: https://www.elia.be

Number of Employees


Location

  • Elia Group SA/NV
  • Boulevard de l'Empereur 20
  • Brussels
  • Brussels
  • 1000
  • Belgium

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
ELIENXTBR (Euronext Brussels)YesOrdinary SharesBEEURJun 2005
E4SDB (Deutsche Boerse AG)YesOrdinary SharesDEEURJun 2005
0NTULSE (London Stock Exchange)YesOrdinary SharesGBEURJun 2005
ELIBBATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary SharesGBEURJun 2005
ELIA.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDJun 2005

Biography

Elia Group SA/NV operates a transmission system for the electricity network, and for the offshore grids in Belgium and internationally. It provides electricity transmission services; transmits electricity from generators; imports and exports electricity; and offers consultancy and engineering services to the international energy market. The company primarily serves electricity generators, distribution system operators, and industrial consumers. It operates 18,990 kilometers of high-voltage connections. The company was formerly known as Elia System Operator SA and changed its name to Elia Group SA/NV in January 2020. Elia Group SA/NV is headquartered in Brussels, Belgium. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/05/31 21:19
End of Day Share Price2020/05/29 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.