DB:8SF

Stock Analysis Report

Executive Summary

Sligro Food Group N.V. engages in the foodservice businesses in the Netherlands and Belgium.


Snowflake Analysis

Good value with mediocre balance sheet.


Similar Companies

Share Price & News

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


Latest Share Price and Events

Stable Share Price: 8SF's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

-2.1%

8SF

3.4%

DE Consumer Retailing

-0.6%

DE Market


1 Year Return

-58.1%

8SF

-6.5%

DE Consumer Retailing

-20.9%

DE Market

Return vs Industry: 8SF underperformed the German Consumer Retailing industry which returned -9.2% over the past year.

Return vs Market: 8SF underperformed the German Market which returned -20.6% over the past year.


Shareholder returns

8SFIndustryMarket
7 Day-2.1%3.4%-0.6%
30 Day-40.4%-3.9%-18.6%
90 Day-48.9%-7.3%-26.2%
1 Year-57.2%-58.1%-2.8%-6.5%-18.6%-20.9%
3 Year-50.1%-62.5%0.6%-9.2%-19.0%-25.8%
5 Year-46.3%-63.8%-5.2%-19.7%-21.2%-31.8%

Price Volatility Vs. Market

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


Simply Wall St News

No news available

Valuation

Is Sligro Food Group 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: 8SF (€13.08) is trading below our estimate of fair value (€30.68)

Significantly Below Fair Value: 8SF is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: 8SF is good value based on its PE Ratio (16.9x) compared to the Consumer Retailing industry average (18.1x).

PE vs Market: 8SF is poor value based on its PE Ratio (16.9x) compared to the German market (16.6x).


Price to Earnings Growth Ratio

PEG Ratio: 8SF is poor value based on its PEG Ratio (1x)


Price to Book Ratio

PB vs Industry: 8SF is good value based on its PB Ratio (1.2x) compared to the XE Consumer Retailing industry average (1.3x).


Next Steps

Future Growth

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

16.8%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: 8SF's forecast earnings growth (16.8% per year) is above the savings rate (-0.4%).

Earnings vs Market: 8SF's earnings (16.8% per year) are forecast to grow faster than the German market (14.2% per year).

High Growth Earnings: 8SF's earnings are forecast to grow, but not significantly.

Revenue vs Market: 8SF's revenue (2.7% per year) is forecast to grow slower than the German market (4% per year).

High Growth Revenue: 8SF's revenue (2.7% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: 8SF's Return on Equity is forecast to be low in 3 years time (13.8%).


Next Steps

Past Performance

How has Sligro Food Group performed over the past 5 years?

-10.5%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: 8SF has high quality earnings.

Growing Profit Margin: 8SF's current net profit margins (1.4%) are lower than last year (2%).


Past Earnings Growth Analysis

Earnings Trend: 8SF's earnings have declined by -10.5% per year over the past 5 years.

Accelerating Growth: 8SF's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: 8SF had negative earnings growth (-26.3%) over the past year, making it difficult to compare to the Consumer Retailing industry average (2.2%).


Return on Equity

High ROE: 8SF's Return on Equity (6.8%) is considered low.


Next Steps

Financial Health

How is Sligro Food Group's financial position?


Financial Position Analysis

Short Term Liabilities: 8SF's short term assets (€526.0M) do not cover its short term liabilities (€593.0M).

Long Term Liabilities: 8SF's short term assets (€526.0M) exceed its long term liabilities (€362.0M).


Debt to Equity History and Analysis

Debt Level: 8SF's debt to equity ratio (52.6%) is considered high.

Reducing Debt: 8SF's debt to equity ratio has increased from 21.8% to 52.6% over the past 5 years.

Debt Coverage: 8SF's debt is well covered by operating cash flow (50.2%).

Interest Coverage: 8SF's interest payments on its debt are well covered by EBIT (6x coverage).


Balance Sheet

Inventory Level: 8SF has a high level of physical assets or inventory.

Debt Coverage by Assets: 8SF's debt is covered by short term assets (assets are 2x debt).


Next Steps

Dividend

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

10.74%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: 8SF's dividend (10.74%) is higher than the bottom 25% of dividend payers in the German market (1.69%).

High Dividend: 8SF's dividend (10.74%) is in the top 25% of dividend payers in the German market (4.85%)


Stability and Growth of Payments

Stable Dividend: 8SF has been paying a dividend for less than 10 years and during this time payments have been volatile.

Growing Dividend: 8SF's dividend payments have increased, but the company has only paid a dividend for 9 years.


Current Payout to Shareholders

Dividend Coverage: With its high payout ratio (181.7%), 8SF's dividend payments are not well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: 8SF's dividends in 3 years are not forecast to be well covered by earnings (92.5% payout ratio).


Next Steps

Management

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

3.2yrs

Average management tenure


CEO

Koen Slippens (52yo)

11.58s

Tenure

€832,000

Compensation

Mr. Koen M. Slippens has been the Chairman of the Executive Board at Sligro Food Group NV. since September 21, 2008 and serves as Chief Executive Officer. Mr. Slippens serves as a Member of Executive Board ...


CEO Compensation Analysis

Compensation vs Market: Koen's total compensation ($USD897.62K) is below average for companies of similar size in the German market ($USD1.33M).

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


Leadership Team

NamePositionTenureCompensationOwnership
Koen Slippens
CEO & Chairman of the Executive Board11.58yrs€832.00k0.24% 1.4m
Rob W. A. van der Sluijs
CFO & Member of Executive Board5.08yrs€685.00k0.022% 129.4k
J. van Heereveld
Head of Accountingno datano datano data
P. van der Veen
Manager of Information & Technology Officeno datano datano data
Maurice M. P. H. van Veghel
Chief Information Officer1.25yrsno datano data
Gerrie J. C. van der Veeken
Company Secretary & Compliance Officerno datano datano data
W. Jansen
Head of Internal & External Communicationno datano datano data
G. Schneemann
Marketing Directorno datano datano data
Jacqueline Touw-Conradi
Chief Human Resource Officer1.08yrsno datano data
A. Verlouw
Head of Building Worksno datano datano data

3.2yrs

Average Tenure

49yo

Average Age

Experienced Management: 8SF's management team is considered experienced (3.2 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Freek Rijna
Chairman of the Supervisory Board3.25yrsno datano data
Jans Kamps
Member of the Supervisory Board5.25yrsno datano data
Gert Van de Weerdhof
Member of the Supervisory Board3.08yrsno datano data
Marianne E. van Leeuwen
Member of the Supervisory Board4.25yrsno datano data

3.8yrs

Average Tenure

59yo

Average Age

Experienced Board: 8SF's board of directors are considered experienced (3.8 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

Sligro Food Group N.V.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Sligro Food Group N.V.
  • Ticker: 8SF
  • Exchange: DB
  • Founded: 1935
  • Industry: Food Distributors
  • Sector: Consumer Retailing
  • Market Cap: €575.174m
  • Shares outstanding: 44.11m
  • Website: https://www.sligrofoodgroup.nl

Number of Employees


Location

  • Sligro Food Group N.V.
  • Corridor 11
  • Veghel
  • Noord-Brabant
  • 5466 RB
  • Netherlands

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
SLIGRENXTAM (Euronext Amsterdam)YesOrdinary SharesNLEURApr 1995
0MKMLSE (London Stock Exchange)YesOrdinary SharesGBEURApr 1995
8SFDB (Deutsche Boerse AG)YesOrdinary SharesDEEURApr 1995
SLIGRABATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary SharesGBEURApr 1995

Biography

Sligro Food Group N.V. engages in the foodservice businesses in the Netherlands and Belgium. The company offers a range of food and food-related non-food products; and services in the food and beverages wholesale market. It operates a network of 51 cash-and-carry and 9 delivery service sites to serve hospitality industry, leisure facilities, caterers, large-volume users, company restaurants, petrol stations, small and medium-sized enterprises, small retail businesses, and the institutional markets under the Sligro, De Kweker, and Van Hoeckel brand names; and 9 distribution centers for Heineken in the Netherlands. It also serves institutional, corporate catering, and hotel chain segments under the JAVA Foodservice name through one delivery service site; and hospitality industry and culinary professionals under the ISPC name through a network of two cash-and-carry and delivery service sites, as well as operates one wholesale formula outlet under the Sligro-ISPC name. In addition, the company produces convenience products, fresh fish, and crustaceans and shellfish products; meat, game and poultry, fruits and vegetables, and bread and pastries; and Christmas gifts. Further, it is involved in the advice, design, furnishing, delivery, and maintenance of professional kitchen design, equipment, and refrigeration technology. The company also sells its products through an online platform. Sligro Food Group N.V. was founded in 1935 and is headquartered in Veghel, the Netherlands. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/04/05 01:57
End of Day Share Price2020/04/03 00:00
Earnings2019/12/28
Annual Earnings2019/12/28


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.