Surteco Group (XTRA:SUR) - Share price, News & Analysis

SUR fundamental analysis
Snowflake Score
Valuation	5/6
Future Growth	1/6
Past Performance	3/6
Financial Health	6/6
Dividends	3/6

SUR Stock Overview

Surteco Group SE develops, produces, and sells coated surface materials based on paper and plastic in Germany, rest of Europe, and North and South America.

Rewards

Trading at 51.5% below our estimate of its fair value

Earnings are forecast to grow 7.04% per year

Earnings have grown 15.5% per year over the past 5 years

Risk Analysis

Dividend of 3.68% is not well covered by earnings

Surteco Group Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Surteco Group
Historical stock prices
Current Share Price	€26.90
52 Week High	€40.40
52 Week Low	€24.70
Beta	0.68
1 Month Change	-15.41%
3 Month Change	-17.99%
1 Year Change	0%
3 Year Change	5.08%
5 Year Change	14.76%
Change since IPO	-6.60%

Shareholder Returns

	SUR	DE Consumer Durables	DE Market
7D	1.5%	-0.7%	1.0%
1Y	0%	-10.7%	-11.1%

Return vs Industry: SUR exceeded the German Consumer Durables industry which returned -10.8% over the past year.

Return vs Market: SUR exceeded the German Market which returned -11.4% over the past year.

Price Volatility

Is SUR's price volatile compared to industry and market?
SUR volatility
SUR Average Weekly Movement	7.5%
Consumer Durables Industry Average Movement	6.2%
Market Average Movement	6.4%
10% most volatile stocks in DE Market	10.8%
10% least volatile stocks in DE Market	3.5%

Stable Share Price: SUR is not significantly more volatile than the rest of German stocks over the past 3 months, typically moving +/- 8% a week.

Volatility Over Time: SUR's weekly volatility (8%) has been stable over the past year.

About the Company

Founded	Employees	CEO	Website
n/a	3,197	Wolfgang Moyses	https://www.surteco-group.com

Surteco Group SE develops, produces, and sells coated surface materials based on paper and plastic in Germany, rest of Europe, and North and South America. The company operates through Decoratives, Profiles, and Technicals segments. The Decoratives segment offers decor papers, finish foils, and edgebandings.

Surteco Group Fundamentals Summary

How do Surteco Group's earnings and revenue compare to its market cap?
SUR fundamental statistics
Market Cap	€421.76m
Earnings (TTM)	€47.12m
Revenue (TTM)	€785.62m

8.9x

P/E Ratio

0.5x

P/S Ratio

Is SUR overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
SUR income statement (TTM)
Revenue	€785.62m
Cost of Revenue	€389.00m
Gross Profit	€396.62m
Other Expenses	€349.49m
Earnings	€47.12m

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

Jul 29, 2022

Earnings per share (EPS)	3.04
Gross Margin	50.48%
Net Profit Margin	6.00%
Debt/Equity Ratio	47.4%

How did SUR perform over the long term?

See historical performance and comparison

Dividends

3.7%

Current Dividend Yield

33%

Payout Ratio

Does SUR pay a reliable dividends?

See SUR dividend history and benchmarks

When do you need to buy SUR by to receive an upcoming dividend?
Surteco Group dividend dates
Ex Dividend Date	Jun 08 2022
Dividend Pay Date	Jun 10 2022
Days until Ex dividend	19 days
Days until Dividend pay date	21 days

Does SUR pay a reliable dividends?

See SUR dividend history and benchmarks

Valuation

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

Valuation Score

5/6

Valuation Score 5/6

Below Fair Value
Significantly Below Fair Value
PE vs Industry
PE vs Market
PEG Ratio
PB vs Industry

>50%

Undervalued compared to fair value

Share Price vs. Fair Value

Below Fair Value: SUR (€27.2) is trading below our estimate of fair value (€56.1)

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

Price To Earnings Ratio

PE vs Industry: SUR is good value based on its PE Ratio (9x) compared to the German Consumer Durables industry average (10.8x).

PE vs Market: SUR is good value based on its PE Ratio (9x) compared to the German market (17.7x).

Price to Earnings Growth Ratio

PEG Ratio: SUR is poor value based on its PEG Ratio (1.3x)

Price to Book Ratio

PB vs Industry: SUR is good value based on its PB Ratio (1x) compared to the DE Consumer Durables industry average (1.7x).

Future Growth

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

Future Growth Score

1/6

Future Growth Score 1/6

Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings
Revenue vs Market
High Growth Revenue
Future ROE

7.0%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: SUR's forecast earnings growth (7% per year) is above the savings rate (-0.05%).

Earnings vs Market: SUR's earnings (7% per year) are forecast to grow slower than the German market (7.7% per year).

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

Revenue vs Market: SUR's revenue (1% per year) is forecast to grow slower than the German market (4.8% per year).

High Growth Revenue: SUR's revenue (1% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: SUR's Return on Equity is forecast to be low in 3 years time (9.6%).

Past Performance

How has Surteco Group performed over the past 5 years?

Past Performance Score

3/6

Past Performance Score 3/6

Quality Earnings
Growing Profit Margin
Earnings Trend
Accelerating Growth
Earnings vs Industry
High ROE

15.5%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: SUR has high quality earnings.

Growing Profit Margin: SUR's current net profit margins (6%) are lower than last year (6%).

Past Earnings Growth Analysis

Earnings Trend: SUR's earnings have grown by 15.5% per year over the past 5 years.

Accelerating Growth: SUR's earnings growth over the past year (20.7%) exceeds its 5-year average (15.5% per year).

Earnings vs Industry: SUR earnings growth over the past year (20.7%) underperformed the Consumer Durables industry 21.4%.

Return on Equity

High ROE: SUR's Return on Equity (10.9%) is considered low.

Financial Health

How is Surteco Group's financial position?

Financial Health Score

6/6

Financial Health Score 6/6

Short Term Liabilities
Long Term Liabilities
Debt Level
Reducing Debt
Debt Coverage
Interest Coverage

Financial Position Analysis

Short Term Liabilities: SUR's short term assets (€324.1M) exceed its short term liabilities (€210.4M).

Long Term Liabilities: SUR's short term assets (€324.1M) exceed its long term liabilities (€177.7M).

Debt to Equity History and Analysis

Debt Level: SUR's net debt to equity ratio (36.1%) is considered satisfactory.

Reducing Debt: SUR's debt to equity ratio has reduced from 50.8% to 47.4% over the past 5 years.

Debt Coverage: SUR's debt is well covered by operating cash flow (23%).

Interest Coverage: SUR's interest payments on its debt are well covered by EBIT (17.4x coverage).

Balance Sheet

Dividend

What is Surteco Group current dividend yield, its reliability and sustainability?

Dividend Score

4/6

Dividend Score 4/6

Notable Dividend
High Dividend
Stable Dividend
Growing Dividend
Earnings Coverage
Future Dividend Coverage

3.72%

Current Dividend Yield

Upcoming Dividend Payment

Dividend Yield vs Market

Notable Dividend: SUR's dividend (3.68%) is higher than the bottom 25% of dividend payers in the German market (1.35%).

High Dividend: SUR's dividend (3.68%) is low compared to the top 25% of dividend payers in the German market (4.34%).

Stability and Growth of Payments

Stable Dividend: SUR's dividend payments have been volatile in the past 10 years.

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

Earnings Payout to Shareholders

Earnings Coverage: With its reasonably low payout ratio (32.9%), SUR's dividend payments are well covered by earnings.

Cash Payout to Shareholders

Cash Flow Coverage: With its high cash payout ratio (101.7%), SUR's dividend payments are not well covered by cash flows.

Discover strong dividend paying companies

Management

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

1.6yrs

Average management tenure

CEO

Wolfgang Moyses (57 yo)

2.58yrs

Tenure

€2,056,000

Compensation

Mr. Wolfgang Moyses has been Chairman of Management Board and Chief Executive Officer at Surteco Group SE since October 1, 2019. Mr. Moyses served as the Chief Executive Officer of Simona AG until August 1...

CEO Compensation Analysis

Compensation vs Market: Wolfgang's total compensation ($USD2.16M) is above average for companies of similar size in the German market ($USD911.10K).

Compensation vs Earnings: Wolfgang's compensation has increased by more than 20% in the past year.

Leadership Team

Experienced Management: SUR's management team is not considered experienced ( 1.6 years average tenure), which suggests a new team.

Board Members

Experienced Board: SUR's board of directors are considered experienced (3.1 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.

Data	Last Updated (UTC time)
Company Analysis	2022/05/19 00:00
End of Day Share Price	2022/05/19 00:00
Earnings	2022/03/31
Annual Earnings	2021/12/31