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aventron

BRSE:AVEN
Snowflake Description

Acceptable track record with limited growth.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
AVEN
BRSE
CHF415M
Market Cap
  1. Home
  2. CH
  3. Utilities
Company description

aventron AG produces electricity from renewable sources in Switzerland, France, Germany, Italy, Norway, and Spain. The last earnings update was 64 days ago. More info.


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AVEN Share Price and Events
7 Day Returns
0%
BRSE:AVEN
-0.4%
Europe Renewable Energy
0%
CH Market
1 Year Returns
-1.1%
BRSE:AVEN
0.7%
Europe Renewable Energy
3.7%
CH Market
AVEN Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
aventron (AVEN) 0% -3.1% 6.7% -1.1% 6.6% 18.6%
Europe Renewable Energy -0.4% -1.7% 0.9% 0.7% 40.1% 21.2%
CH Market 0% -0.4% 1.5% 3.7% 10.6% 10.1%
1 Year Return vs Industry and Market
  • AVEN underperformed the Renewable Energy industry which returned 0.7% over the past year.
  • AVEN underperformed the Market in Switzerland which returned 3.7% over the past year.
Price Volatility
AVEN
Industry
5yr Volatility vs Market
Related Companies

Value

 Is aventron 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 aventron 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 aventron.

BRSE:AVEN Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 1 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 8.9%
Perpetual Growth Rate 10-Year CH Government Bond Rate 3.3%

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 BRSE:AVEN
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year CH Govt Bond Rate 3.3%
Equity Risk Premium S&P Global 6%
Renewable Energy Unlevered Beta Simply Wall St/ S&P Global 0.47
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.47 (1 + (1- 18%) (113.83%))
0.939
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.94
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 3.28% + (0.939 * 5.96%)
8.87%

Discounted Cash Flow Calculation for BRSE:AVEN using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for aventron 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.

BRSE:AVEN DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (CHF, Millions) Source Present Value
Discounted (@ 8.87%)
2019 -31.09 Analyst x1 -28.56
2020 -38.82 Analyst x1 -32.75
2021 2.85 Analyst x1 2.20
2022 5.70 Analyst x1 4.06
2023 10.25 Analyst x1 6.70
2024 14.44 Est @ 40.94% 8.67
2025 18.73 Est @ 29.64% 10.33
2026 22.80 Est @ 21.73% 11.55
2027 26.49 Est @ 16.19% 12.32
2028 29.75 Est @ 12.32% 12.71
Present value of next 10 years cash flows CHF7.24
BRSE:AVEN DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= CHF29.75 × (1 + 3.28%) ÷ (8.87% – 3.28%)
CHF548.88
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= CHF548.88 ÷ (1 + 8.87%)10
CHF234.58
BRSE:AVEN Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= CHF7.24 + CHF234.58
CHF241.82
Equity Value per Share
(CHF)
= Total value / Shares Outstanding
= CHF241.82 / 43.73
CHF5.53
BRSE:AVEN Discount to Share Price
Calculation Result
Value per share (CHF) From above. CHF5.53
Current discount Discount to share price of CHF9.49
= -1 x (CHF9.49 - CHF5.53) / CHF5.53
-71.6%

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

  • The current share price of aventron 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 aventron's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are aventron's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
BRSE:AVEN PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in CHF CHF0.27
BRSE:AVEN Share Price ** BRSE (2019-05-14) in CHF CHF9.49
Europe Renewable Energy Industry PE Ratio Median Figure of 47 Publicly-Listed Renewable Energy Companies 25.19x
Switzerland Market PE Ratio Median Figure of 175 Publicly-Listed Companies 18.25x

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

** Primary Listing of aventron.

BRSE:AVEN PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= BRSE:AVEN Share Price ÷ EPS (both in CHF)

= 9.49 ÷ 0.27

35.78x

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

  • aventron is overvalued based on earnings compared to the Europe Renewable Energy industry average.
  • aventron is overvalued based on earnings compared to the Switzerland market.
Price based on expected Growth
Does aventron's expected growth come at a high price?
Raw Data
BRSE:AVEN PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 35.78x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts
7.9%per year
Europe Renewable Energy Industry PEG Ratio Median Figure of 26 Publicly-Listed Renewable Energy Companies 1.45x
Switzerland Market PEG Ratio Median Figure of 125 Publicly-Listed Companies 2.21x

*Line of best fit is calculated by linear regression .

BRSE:AVEN PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 35.78x ÷ 7.9%

4.51x

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

  • aventron is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on aventron's assets?
Raw Data
BRSE:AVEN PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in CHF CHF5.23
BRSE:AVEN Share Price * BRSE (2019-05-14) in CHF CHF9.49
Europe Renewable Energy Industry PB Ratio Median Figure of 60 Publicly-Listed Renewable Energy Companies 1.44x
Switzerland Market PB Ratio Median Figure of 212 Publicly-Listed Companies 1.63x
BRSE:AVEN PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= BRSE:AVEN Share Price ÷ Book Value per Share (both in CHF)

= 9.49 ÷ 5.23

1.81x

* Primary Listing of aventron.

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

  • aventron is overvalued based on assets compared to the Europe Renewable Energy industry average.
X
Value checks
We assess aventron'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 Renewable Energy 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 Renewable Energy industry average (and greater than 0)? (1 check)
  5. aventron has a total score of 0/6, 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.

Future Performance

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

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
7.9%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is aventron expected to grow at an attractive rate?
  • aventron's earnings growth is expected to exceed the low risk savings rate of 3.3%.
Growth vs Market Checks
  • aventron's earnings growth is positive but not above the Switzerland market average.
  • aventron's revenue growth is expected to exceed the Switzerland market average.
Annual Growth Rates Comparison
Raw Data
BRSE:AVEN Future Growth Rates Data Sources
Data Point Source Value (per year)
BRSE:AVEN Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts 7.9%
BRSE:AVEN Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 1 Analysts 6.1%
Europe Renewable Energy Industry Earnings Growth Rate Market Cap Weighted Average 20.2%
Europe Renewable Energy Industry Revenue Growth Rate Market Cap Weighted Average 7%
Switzerland Market Earnings Growth Rate Market Cap Weighted Average 11%
Switzerland 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
BRSE:AVEN Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below
All numbers in CHF Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
BRSE:AVEN Future Estimates Data
Date (Data in CHF Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 124 1
2022-12-31 120 1
2021-12-31 115 75 13 1
2020-12-31 109 71 13 1
2019-12-31 102 66 12 1
BRSE:AVEN Past Financials Data
Date (Data in CHF Millions) Revenue Cash Flow Net Income *
2018-12-31 92 68 10
2018-09-30 90 64 11
2018-06-30 87 59 12
2018-03-31 82 55 10
2017-12-31 77 51 8
2017-09-30 71 51 6
2017-06-30 66 51 5
2017-03-31 57 41 4
2016-12-31 48 30 3
2016-09-30 41 25 3
2016-06-30 33 21 3
2016-03-31 28 17 2

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • aventron's earnings are expected to grow by 7.9% yearly, however this is not considered high growth (20% yearly).
  • aventron's revenue is expected to grow by 6.1% yearly, however this is not considered high growth (20% yearly).
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
BRSE:AVEN Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below

All data from aventron Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

BRSE:AVEN Future Estimates Data
Date (Data in CHF Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 0.27 0.27 0.27 1.00
2020-12-31 0.27 0.27 0.27 1.00
2019-12-31 0.27 0.27 0.27 1.00
BRSE:AVEN Past Financials Data
Date (Data in CHF Millions) EPS *
2018-12-31 0.27
2018-09-30 0.30
2018-06-30 0.34
2018-03-31 0.29
2017-12-31 0.25
2017-09-30 0.20
2017-06-30 0.14
2017-03-31 0.13
2016-12-31 0.12
2016-09-30 0.13
2016-06-30 0.14
2016-03-31 0.13

*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.
  • aventron is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess aventron'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.
aventron has a total score of 2/6, 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.

Past Performance

  How has aventron 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 aventron's growth in the last year to its industry (Renewable Energy).
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.
  • aventron has delivered over 20% year on year earnings growth in the past 5 years.
  • aventron's 1-year earnings growth is less than its 5-year average (22.9% vs 54.2%)
  • aventron's earnings growth has exceeded the Europe Renewable Energy industry average in the past year (22.9% vs 17.5%).
Earnings and Revenue History
aventron'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 aventron Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

BRSE:AVEN Past Revenue, Cash Flow and Net Income Data
Date (Data in CHF Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 92.05 10.25 9.67
2018-09-30 89.58 10.89 9.26
2018-06-30 87.10 11.54 2.53
2018-03-31 82.24 9.94 2.35
2017-12-31 77.37 8.34 8.48
2017-09-30 71.44 6.50 3.79
2017-06-30 65.50 4.65 -0.90
2017-03-31 56.98 3.81 0.42
2016-12-31 48.46 2.97 1.75
2016-09-30 40.76 2.85 3.00
2016-06-30 33.06 2.74 4.24
2016-03-31 28.45 2.34 2.69
2015-12-31 23.85 1.94 1.15
2015-09-30 20.80 1.44 1.07
2015-06-30 17.75 0.94 0.99
2015-03-31 16.25 0.83 0.84
2014-12-31 14.75 0.73 0.68
2014-09-30 13.57 0.85 0.51
2014-06-30 12.39 0.97 0.33
2014-03-31 11.74 0.95 0.21
2013-12-31 11.10 0.93 0.09
2013-09-30 10.19 0.69 0.10
2013-06-30 9.29 0.44 0.11
2013-03-31 8.12 0.47 0.14
2012-12-31 6.96 0.50 0.17
2012-09-30 6.23 0.42 0.13
2012-06-30 5.50 0.35 0.09

*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.
  • aventron has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • aventron used its assets less efficiently than the Europe Renewable Energy industry average last year based on Return on Assets.
  • aventron has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess aventron'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 Renewable Energy 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.
aventron has a total score of 3/6, 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.

Health

 How is aventron'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 aventron's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • aventron is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • aventron's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of aventron'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 not covered by short term assets, assets are 0.2x 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 aventron Company Filings, last reported 4 months ago.

BRSE:AVEN Past Debt and Equity Data
Date (Data in CHF Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 235.22 472.36 67.28
2018-09-30 235.22 472.36 67.28
2018-06-30 179.61 499.15 51.22
2018-03-31 179.61 499.15 51.22
2017-12-31 185.97 462.45 39.90
2017-09-30 185.97 462.45 39.90
2017-06-30 181.88 395.77 42.86
2017-03-31 181.88 395.77 42.86
2016-12-31 189.12 356.62 34.20
2016-09-30 189.12 356.62 34.20
2016-06-30 62.48 269.07 24.26
2016-03-31 62.48 269.07 24.26
2015-12-31 75.55 209.33 20.14
2015-09-30 75.55 209.33 20.14
2015-06-30 63.25 114.44 23.84
2015-03-31 63.25 114.44 23.84
2014-12-31 75.09 101.13 17.59
2014-09-30 75.09 101.13 17.59
2014-06-30 30.89 55.64 5.05
2014-03-31 30.89 55.64 5.05
2013-12-31 35.63 59.39 7.62
2013-09-30 35.63 59.39 7.62
2013-06-30 7.72 64.78 4.01
2013-03-31 7.72 64.78 4.01
2012-12-31 12.03 62.40 5.89
2012-09-30 12.03 62.40 5.89
2012-06-30 11.50 81.04 4.42
  • aventron's level of debt (200.8%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (166.8% vs 200.8% today).
  • Debt is not well covered by operating cash flow (14.4%, less than 20% of total debt).
  • Interest payments on debt are not well covered by earnings (EBIT is 1.8x annual interest expense, ideally 3x coverage).
X
Financial health checks
We assess aventron'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. aventron has a total score of 1/6, 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.

Dividends

 What is aventron'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
2.63%
Current annual income from aventron dividends. Estimated to be 2.63% next year.
If you bought CHF2,000 of aventron shares you are expected to receive CHF53 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?
  • aventron's pays a higher dividend yield than the bottom 25% of dividend payers in Switzerland (1.96%).
  • aventron's dividend is below the markets top 25% of dividend payers in Switzerland (3.8%).
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
BRSE:AVEN 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 1 Analyst Estimates (S&P Global) See Below
Europe Renewable Energy Industry Average Dividend Yield Market Cap Weighted Average of 26 Stocks 3.4%
Switzerland Market Average Dividend Yield Market Cap Weighted Average of 166 Stocks 3.1%
Switzerland Minimum Threshold Dividend Yield 10th Percentile 1.3%
Switzerland Bottom 25% Dividend Yield 25th Percentile 2%
Switzerland Top 25% Dividend Yield 75th Percentile 3.8%

Industry and Market average data is calculated daily.

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

BRSE:AVEN Future Dividends Estimate Data
Date (Data in CHF) Dividend per Share (annual) Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 0.25 1.00
2020-12-31 0.25 1.00
2019-12-31 0.25 1.00
BRSE:AVEN Past Annualized Dividends Data
Date (Data in CHF) Dividend per share (annual) Avg. Yield (%)
2019-04-01 0.250 2.686
2018-03-27 0.230 2.427
2017-04-05 0.210 2.311
2016-05-03 0.210 2.364
2015-05-26 0.200 2.362
2014-04-14 0.200 2.622
2013-04-22 0.170 2.168
2012-04-17 0.120 1.488
2011-04-18 0.050 0.483

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

  • Whilst dividend payments have been stable, aventron has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but aventron only paid a dividend in the past 8 years.
Current Payout to shareholders
What portion of aventron's earnings are paid to the shareholders as a dividend.
  • Dividends paid are not well covered by earnings (1.1x coverage).
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 aventron's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.3%) - 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 aventron afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. aventron has a total score of 1/6, see the detailed checks below.


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

Management

 What is the CEO of aventron'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
Antoine Millioud
COMPENSATION CHF352,607
AGE 49
TENURE AS CEO 6.3 years
CEO Bio

Mr. Antonie Millioud has been the Chief Executive Officer of Aventron AG since 2013. Mr. Millioud serves as the Chief Financial Officer of NEP Solar Pty Ltd. He served as Manager project development of Transfield Holdings Pty Ltd. He has been active in the energy industry for fifteen years in a range of positions from R&D and engineering to project management and development. Before joining Transfield, Mr. Millioud served as an Management Consultant with AT Kearney, assisting major international companies in areas of business strategy and operational improvement. Prior to coming to Australia with AT Kearney in 2001, He worked for ABB Power Generation and later Alstom Power as Project Manager in combined cycle power plants. In his last assignment in 1999 he led a cross-functional team responsible for the execution of the power island of the 540MW Ruwais Refinery Expansion Project in the United Arab Emirates. He served as Vice President with Transfield Energy Ventures (Europe) establishing a renewable energy investment portfolio in Europe for Transfield Holdings. Mr. Millioud holds a MSc in Mechanical Engineering from the Swiss Federal Institute of Technology and an MBA from INSEAD in France.

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

Average tenure and age of the aventron management team in years:

6.3
Average Tenure
48
Average Age
  • The average tenure for the aventron management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Antoine Millioud

TITLE
CEO & Member of Executive Board
COMPENSATION
CHF353K
AGE
49
TENURE
6.3 yrs

Bernhard Furrer

TITLE
CFO & Member of Executive Board
AGE
47
TENURE
3.3 yrs

Eric Wagner

TITLE
COO & Member of Executive Board
AGE
52

Dominik Baier

TITLE
Secretary
COMPENSATION
CHF11K
AGE
47
TENURE
14.3 yrs
Board of Directors Tenure

Average tenure and age of the aventron board of directors in years:

2.5
Average Tenure
51
Average Age
  • The average tenure for the aventron board of directors is less than 3 years, this suggests a new board.
Board of Directors

Cédric Christmann

TITLE
Chairman
COMPENSATION
CHF35K
AGE
51

Martin Schaub

TITLE
Vice Chairman of the Board of Directors
COMPENSATION
CHF9K
AGE
52
TENURE
2.1 yrs

Werner Ulmer

TITLE
Director
COMPENSATION
CHF23K
AGE
51

George Coelho

TITLE
Director
COMPENSATION
CHF18K
AGE
66
TENURE
7.3 yrs

Beat Huber

TITLE
Director
COMPENSATION
CHF13K
AGE
45
TENURE
3 yrs

Michael Stalder

TITLE
Director
COMPENSATION
CHF19K
AGE
41
TENURE
2.1 yrs

Priscilla Leimgruber

TITLE
Director
AGE
48
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (CHF) Value (CHF)
X
Management checks
We assess aventron'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. aventron 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.

News

Simply Wall St News

How Should Investors Feel About aventron AG's (BRN:AVEN) CEO Pay?

First, this article will compare CEO compensation with compensation at similar sized companies. … See our latest analysis for aventron How Does Antoine Millioud's Compensation Compare With Similar Sized Companies? … A first glance this seems like a real positive for shareholders, since Antoine Millioud is paid less than the average total compensation paid by similar sized companies.

Simply Wall St -

What Type Of Shareholder Owns aventron AG's (BRN:AVEN)?

See our latest analysis for aventron BRSE:AVEN Ownership Summary, May 10th 2019 What Does The Institutional Ownership Tell Us About aventron? … We do note, however, it is possible insiders have an indirect interest through a private company or other corporate structure. … Sometimes insiders have an interest in a public company through a holding in a private company, rather than in their own capacity as an individual.

Simply Wall St -

If You Had Bought aventron (BRN:AVEN) Shares Five Years Ago You'd Have Made 21%

To wit, the aventron share price has climbed 21% in five years, easily topping the market return of 13% (ignoring dividends). … One imperfect but simple way to consider how the market perception of a company has shifted is to compare the change in the earnings per share (EPS) with the share price movement. … Over half a decade, aventron managed to grow its earnings per share at 18% a year.

Simply Wall St -

Should We Be Cautious About aventron AG's (BRN:AVEN) ROE Of 4.7%?

With that in mind, this article will work through how we can use Return On Equity (ROE) to better understand a business. … One way to conceptualize this, is that for each CHF1 of shareholders' equity it has, the company made CHF0.047 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

What Does aventron AG's (BRN:AVEN) P/E Ratio Tell You?

To keep it practical, we'll show how aventron AG's (BRN:AVEN) P/E ratio could help you assess the value on offer. … aventron has a price to earnings ratio of 33.56, based on the last twelve months. … Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS)

Simply Wall St -

Could The aventron AG (BRN:AVEN) Ownership Structure Tell Us Something Useful?

The big shareholder groups in aventron AG (BRN:AVEN) have power over the company. … Institutions often own shares in more established companies, while it's not unusual to see insiders own a fair bit of smaller companies. … Taking a look at our data on the ownership groups (below), it's seems that.

Simply Wall St -

Why You Should Care About aventron AG’s (BRN:AVEN) Low Return On Capital

In particular, we'll consider its Return On Capital Employed (ROCE), as that can give us insight into how profitably the company is able to employ capital in its business. … What is Return On Capital Employed (ROCE)? … Analysts use this formula to calculate return on capital employed:

Simply Wall St -

Is aventron AG's (BRN:AVEN) CEO Pay Justified?

This report will, first, examine the CEO compensation levels in comparison to CEO compensation at companies of similar size. … The aim of all this is to consider the appropriateness of CEO pay levels. … How Does Antoine Millioud's Compensation Compare With Similar Sized Companies?

Simply Wall St -

With A Return On Equity Of 6.7%, Has aventron AG's (BRN:AVEN) Management Done Well?

While some investors are already well versed in financial metrics (hat tip), this article is for those who would like to learn about Return On Equity (ROE) and why it is important. … Another way to think of that is that for every CHF1 worth of equity in the company, it was able to earn CHF0.067. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

Why aventron AG's (BRN:AVEN) High P/E Ratio Isn't Necessarily A Bad Thing

This article is written for those who want to get better at using price to earnings ratios (P/E ratios). … We'll show how you can use aventron AG's (BRN:AVEN) P/E ratio to inform your assessment of the investment opportunity. … Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS)

Simply Wall St -

Company Info

Description

aventron AG produces electricity from renewable sources in Switzerland, France, Germany, Italy, Norway, and Spain. The company owns and operates hydropower, wind, and solar energy plants. As of August 9, 2018, it had installed capacity of 465 megawatts. The company was formerly known as Kleinkraftwerk Birseck AG and changed its name to aventron AG in May 2016. The company was founded in 2005 and is headquartered in Münchenstein, Switzerland.

Details
Name: aventron AG
AVEN
Exchange: BRSE
Founded: 2005
CHF414,984,176
43,728,575
Website: http://www.aventron.com
Address: aventron AG
Weidenstrasse 27,
Münchenstein,
Basel-Landschaft, 4142,
Switzerland
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
BRSE AVEN Registered Shares Berne Stock Exchange CH CHF 30. Nov 2010
Number of employees
Current staff
Staff numbers
24
aventron employees.
Industry
Renewable Electricity
Utilities
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/25 21:29
End of day share price update: 2019/05/14 00:00
Last estimates confirmation: 2019/05/24
Last earnings filing: 2019/03/22
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.