BRSE:AVEN

Stock Analysis Report

Executive Summary

aventron AG produces electricity from renewable sources in Switzerland, France, Germany, Italy, Norway, and Spain.


Snowflake Analysis

Limited growth with questionable track record.

Share Price & News

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


Latest Share Price and Events

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


Market Performance


7 Day Return

0%

AVEN

-5.2%

CH Renewable Energy

-6.9%

CH Market


1 Year Return

10.7%

AVEN

26.8%

CH Renewable Energy

8.4%

CH Market

Return vs Industry: AVEN underperformed the Swiss Renewable Energy industry which returned 29.2% over the past year.

Information is not available.


Shareholder returns

AVENIndustryMarket
7 Day0%-5.2%-6.9%
30 Day1.0%2.7%-4.1%
90 Day-1.0%11.1%-1.2%
1 Year13.7%10.7%30.3%26.8%13.6%8.4%
3 Year17.8%9.4%94.3%80.1%28.5%13.3%
5 Year46.9%30.5%90.3%68.6%33.7%13.5%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

34.48x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: AVEN (CHF9.85) is trading above our estimate of fair value (CHF5.31)

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


Price To Earnings Ratio

PE vs Industry: AVEN is poor value based on its PE Ratio (34.5x) compared to the Renewable Energy industry average (27.5x).

PE vs Market: AVEN is poor value based on its PE Ratio (34.5x) compared to the Swiss market (20.4x).


Price to Earnings Growth Ratio

PEG Ratio: AVEN is poor value based on its PEG Ratio (19x)


Price to Book Ratio

PB vs Industry: AVEN is overvalued based on its PB Ratio (2x) compared to the XE Renewable Energy industry average (1.7x).


Next Steps

Future Growth

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

1.8%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: AVEN's forecast earnings growth (1.8% per year) is above the savings rate (-0.6%).

Earnings vs Market: AVEN's earnings (1.8% per year) are forecast to grow slower than the Swiss market (10.4% per year).

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

Revenue vs Market: AVEN's revenue (4.5% per year) is forecast to grow faster than the Swiss market (2.8% per year).

High Growth Revenue: AVEN's revenue (4.5% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: AVEN's Return on Equity is forecast to be low in 3 years time (4.8%).


Next Steps

Past Performance

How has aventron performed over the past 5 years?

50.8%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: AVEN has high quality earnings.

Growing Profit Margin: AVEN's current net profit margins (12.4%) are lower than last year (13.3%).


Past Earnings Growth Analysis

Earnings Trend: AVEN's earnings have grown significantly by 50.8% per year over the past 5 years.

Accelerating Growth: AVEN's earnings growth over the past year (7.4%) is below its 5-year average (50.8% per year).

Earnings vs Industry: AVEN earnings growth over the past year (7.4%) underperformed the Renewable Energy industry 24.4%.


Return on Equity

High ROE: AVEN's Return on Equity (5.7%) is considered low.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is aventron's financial position?


Financial Position Analysis

Short Term Liabilities: AVEN's short term assets (CHF93.2M) exceed its short term liabilities (CHF56.7M).

Long Term Liabilities: AVEN's short term assets (CHF93.2M) do not cover its long term liabilities (CHF448.2M).


Debt to Equity History and Analysis

Debt Level: AVEN's debt to equity ratio (195.9%) is considered high.

Reducing Debt: AVEN's debt to equity ratio has increased from 178% to 195.9% over the past 5 years.

Debt Coverage: AVEN's debt is not well covered by operating cash flow (16.2%).

Interest Coverage: AVEN's interest payments on its debt are not well covered by EBIT (1.9x coverage).


Balance Sheet

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

Debt Coverage by Assets: AVEN's debt is not covered by short term assets (assets are 0.2x debt).


Next Steps

Dividend

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

2.54%

Current Dividend Yield


Dividend Yield vs Market

company2.5%marketbottom25%1.9%markettop25%3.6%industryaverage2.8%forecastin3Years2.5%

Current dividend yield vs market & industry

Notable Dividend: AVEN's dividend (2.54%) is higher than the bottom 25% of dividend payers in the Swiss market (1.85%).

High Dividend: AVEN's dividend (2.54%) is low compared to the top 25% of dividend payers in the Swiss market (3.51%).


Stability and Growth of Payments

Stable Dividend: Whilst dividend payments have been stable, AVEN has been paying a dividend for less than 10 years.

Growing Dividend: AVEN's dividend payments have increased, but the company has only paid a dividend for 9 years.


Current Payout to Shareholders

Dividend Coverage: At its current payout ratio (87.5%), AVEN's payments are 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?

5.6yrs

Average management tenure


CEO

Antoine Millioud (50yo)

7.1yrs

Tenure

CHF359,001

Compensation

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 Tra ...


CEO Compensation Analysis

Compensation vs Market: Antoine's total compensation ($USD367.61K) is below average for companies of similar size in the Swiss market ($USD1.00M).

Compensation vs Earnings: Antoine's compensation has been consistent with company performance over the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Antoine Millioud
CEO & Member of Executive Board7.1yrsCHF359.00k0.00080% CHF3.4k
Bernhard Furrer
CFO & Member of Executive Board4.1yrsno data0.0045% CHF19.4k
Eric Wagner
Chief Investment Officer & Member of Executive Board0yrsno data0.016% CHF68.9k
Daniel Moll
COO & Member of Executive Board0.3yrsno datano data
Dominik Baier
Secretary15.1yrsCHF10.63kno data

5.6yrs

Average Tenure

49yo

Average Age

Experienced Management: AVEN's management team is seasoned and experienced (5.6 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Conrad Ammann
Chairman0.8yrsno datano data
Priscilla Leimgruber
Director2.1yrsCHF9.30kno data
Beat Huber
Director3.8yrsCHF13.20kno data
Michael Stalder
Director2.8yrsCHF18.60kno data
Martin Schaub
Vice Chairman of the Board of Directors2.8yrsCHF13.95kno data
Nicolas Wyss
Director0.8yrsno datano data
Daniel von Moltke
Director0.8yrsno datano data

2.1yrs

Average Tenure

47.5yo

Average Age

Experienced Board: AVEN's board of directors are not considered experienced ( 2.1 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 been diluted in the past year, with total shares outstanding growing by 27.5%.


Top Shareholders

Company Information

aventron AG's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: aventron AG
  • Ticker: AVEN
  • Exchange: BRSE
  • Founded: 2005
  • Industry: Renewable Electricity
  • Sector: Utilities
  • Market Cap: CHF428.512m
  • Shares outstanding: 43.50m
  • Website: https://aventron.com

Number of Employees


Location

  • aventron AG
  • Weidenstrasse 27
  • Münchenstein
  • Basel-Landschaft
  • 4142
  • Switzerland

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
AVENBRSE (Berne Stock Exchange)YesRegistered SharesCHCHFNov 2010

Biography

aventron AG produces electricity from renewable sources in Switzerland, France, Germany, Italy, Norway, and Spain. The company owns and operates hydropower, wind, and solar power plants. As of March 21, 2019, it had installed capacity of 476 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. aventron AG is a subsidiary of aventron Holding AG. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/02/27 22:13
End of Day Share Price2020/02/14 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.