DB:29I

Stock Analysis Report

Executive Summary

ITAB Shop Concept AB (publ) develops, manufactures, sells, and installs shop fitting concepts for retail chain stores.


Snowflake Analysis

Undervalued with proven track record.


Similar Companies

Share Price & News

How has ITAB Shop Concept's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: 29I's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

-8.5%

29I

1.9%

DE Commercial Services

2.0%

DE Market


1 Year Return

-11.5%

29I

-2.5%

DE Commercial Services

15.1%

DE Market

Return vs Industry: 29I underperformed the German Commercial Services industry which returned -0.5% over the past year.

Return vs Market: 29I underperformed the German Market which returned 15% over the past year.


Shareholder returns

29IIndustryMarket
7 Day-8.5%1.9%2.0%
30 Day-33.4%0.5%1.0%
90 Day-11.2%6.7%3.8%
1 Year-11.5%-11.5%1.0%-2.5%18.6%15.1%
3 Yearn/a12.0%2.2%16.8%6.6%
5 Yearn/a4.9%-9.8%23.7%6.7%

Price Volatility Vs. Market

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


Simply Wall St News

No news available

Valuation

Is ITAB Shop Concept undervalued compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: 29I (€1.38) is trading below our estimate of fair value (€5.36)

Significantly Below Fair Value: 29I is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: 29I is good value based on its PE Ratio (12.5x) compared to the Commercial Services industry average (32x).

PE vs Market: 29I is good value based on its PE Ratio (12.5x) compared to the German market (21.1x).


Price to Earnings Growth Ratio

PEG Ratio: 29I is poor value based on its PEG Ratio (1.5x)


Price to Book Ratio

PB vs Industry: 29I is good value based on its PB Ratio (0.9x) compared to the DE Commercial Services industry average (3.3x).


Next Steps

Future Growth

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

8.2%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: 29I's forecast earnings growth (8.2% per year) is above the savings rate (-0.4%).

Earnings vs Market: 29I's earnings (8.2% per year) are forecast to grow slower than the German market (13.3% per year).

High Growth Earnings: 29I's earnings are forecast to grow, but not significantly.

Revenue vs Market: 29I's revenue (0.9% per year) is forecast to grow slower than the German market (5% per year).

High Growth Revenue: 29I's revenue (0.9% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: 29I's Return on Equity is forecast to be low in 3 years time (7.2%).


Next Steps

Past Performance

How has ITAB Shop Concept performed over the past 5 years?

-13.2%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: 29I has high quality earnings.

Growing Profit Margin: 29I's current net profit margins (2%) are higher than last year (1.5%).


Past Earnings Growth Analysis

Earnings Trend: 29I's earnings have declined by -13.2% per year over the past 5 years.

Accelerating Growth: 29I's earnings growth over the past year (33.3%) exceeds its 5-year average (-13.2% per year).

Earnings vs Industry: 29I earnings growth over the past year (33.3%) exceeded the Commercial Services industry 10.8%.


Return on Equity

High ROE: 29I's Return on Equity (6.4%) is considered low.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is ITAB Shop Concept's financial position?


Financial Position Analysis

Short Term Liabilities: 29I's short term assets (SEK2.3B) exceed its short term liabilities (SEK2.0B).

Long Term Liabilities: 29I's short term assets (SEK2.3B) exceed its long term liabilities (SEK2.0B).


Debt to Equity History and Analysis

Debt Level: 29I's debt to equity ratio (93.6%) is considered high.

Reducing Debt: 29I's debt to equity ratio has increased from 76.3% to 93.6% over the past 5 years.

Debt Coverage: 29I's debt is well covered by operating cash flow (20.1%).

Interest Coverage: 29I's interest payments on its debt are well covered by EBIT (3.1x coverage).


Balance Sheet

Inventory Level: 29I has a high level of physical assets or inventory.

Debt Coverage by Assets: 29I's debt is covered by short term assets (assets are 1.3x debt).


Next Steps

Dividend

What is ITAB Shop Concept's current dividend yield, its reliability and sustainability?

2.27%

Forecast Dividend Yield


Dividend Yield vs Market

company0%marketbottom25%1.3%markettop25%3.6%industryaverage3.3%forecastin3Years2.3%

Current dividend yield vs market & industry

Notable Dividend: Unable to evaluate 29I's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.

High Dividend: Unable to evaluate 29I's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if 29I's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if 29I's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: 29I is not paying a notable dividend for the German market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of 29I's dividend in 3 years as they are not forecast to pay a notable one for the German market.


Next Steps

Management

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

7.1yrs

Average management tenure


CEO

Andréas Elgaard (47yo)

0.5yrs

Tenure

Mr. Andréas Elgaard serves as President & CEO at ITAB Shop Concept AB (publ) since August 2019. He is Member of Group Management. He Holds Master of Science from Lunds Institute of Technology. He Holds sen ...


Leadership Team

NamePositionTenureCompensationOwnership
Andréas Elgaard
President & CEO0.5yrsno datano data
Samuel Wingren
Chief Financial Officer7.1yrsno data0.088% SEK126.6k
Marie Mouchard
Head of Group Accounting0yrsno datano data
Pernilla Lorentzon
Human Resources Director4.5yrsno datano data
Mikael Gustavsson
Deputy Chief Executive Officer12yrsno data0.11% SEK163.4k
Roy French
CED & Chief Business Officer9.1yrsno datano data
Johan Isaksson
Group Treasurer6yrsno datano data
Bo Dahlstrand
Group Business Controller13yrsno datano data

7.1yrs

Average Tenure

52yo

Average Age

Experienced Management: 29I's management team is seasoned and experienced (7.1 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Anders Moberg
Independent Chairman of the Board0yrskr340.00k1.07% SEK1.5m
Lottie Svedenstedt
Independent Director10.8yrskr180.00k0.059% SEK84.5k
Fredrik Rapp
Director7.1yrskr180.00kno data
Jan Frykhammar
Independent Director1.1yrsno datano data
Sune Lantz
Director6.1yrskr180.00k0.62% SEK887.5k
Anna Benjamin
Director16.1yrskr190.00k5.87% SEK8.5m
Petter Fägersten
Director3.8yrskr150.00k17.24% SEK24.9m
Per Borgklint
Independent Director3.1yrskr180.00kno data

6.1yrs

Average Tenure

50.5yo

Average Age

Experienced Board: 29I's board of directors are considered experienced (6.1 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 not been meaningfully diluted in the past year.


Top Shareholders

Company Information

ITAB Shop Concept AB (publ)'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: ITAB Shop Concept AB (publ)
  • Ticker: 29I
  • Exchange: DB
  • Founded:
  • Industry: Office Services and Supplies
  • Sector: Commercial Services
  • Market Cap: kr1.515b
  • Listing Market Cap: kr144.250m
  • Shares outstanding: 102.38m
  • Website: https://itab.com

Number of Employees


Location

  • ITAB Shop Concept AB (publ)
  • Instrumentvägen 2
  • Box 9054
  • Jönköping
  • Jönköping County
  • 550 09
  • Sweden

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
ITAB BOM (OMX Nordic Exchange Stockholm)YesClass B Common SharesSESEKMay 2004
0RGWLSE (London Stock Exchange)YesClass B Common SharesGBSEKMay 2004
ITABBSBATS-CHIXE (BATS 'Chi-X Europe')YesClass B Common SharesGBSEKMay 2004
29IDB (Deutsche Boerse AG)YesClass B Common SharesDEEURMay 2004

Biography

ITAB Shop Concept AB (publ) develops, manufactures, sells, and installs shop fitting concepts for retail chain stores. It offers entrance and exit systems, such as automatic gates, gate arms, ADS direction alarms, mechanical gates, queue merchandising shelf systems, call forward queue systems, screen walls, and shop accessories; shop fittings; and lighting products, including track lights and systems, downlights and recessed lights, linear lights, LED panels, uplights, surface-mounted and pendant lighting products, strips and coils, exterior and fuel lighting products, and emergency lighting solutions. The company also provides manned checkouts, self-checkout, and digital solutions, as well as drug storage solutions for pharmacies and hospitals. It has operations in the United Kingdom, Sweden, Norway, Germany, Denmark, North America, Finland, Italy, France, the Netherlands, China, Poland, Belgium, Spain, Russia, and internationally. ITAB Shop Concept AB (publ) is headquartered in Jönköping, Sweden. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/02/17 23:14
End of Day Share Price2020/02/17 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.