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AmRest Holdings

DB:1QT
Snowflake Description

Reasonable growth potential with imperfect balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
1QT
DB
PLN8B
Market Cap
  1. Home
  2. DE
  3. Consumer Services
Company description

AmRest Holdings SE, through its subsidiaries, operates and manages quick service and casual dining restaurants in Central and Eastern Europe, Western Europe, Russia, and China. The last earnings update was 40 days ago. More info.


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1QT Share Price and Events
7 Day Returns
0.6%
DB:1QT
0.1%
DE Hospitality
0.3%
DE Market
1 Year Returns
-13.5%
DB:1QT
-52.1%
DE Hospitality
-11.7%
DE Market
1QT Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
AmRest Holdings (1QT) 0.6% 0.9% -18.7% -13.5% - -
DE Hospitality 0.1% -7.8% -10.1% -52.1% -28.9% -25.1%
DE Market 0.3% -2.8% -0.8% -11.7% 12.2% 6.1%
1 Year Return vs Industry and Market
  • 1QT outperformed the Hospitality industry which returned -52.1% over the past year.
  • 1QT underperformed the Market in Germany which returned -11.7% over the past year.
Price Volatility
1QT
Industry
5yr Volatility vs Market

Value

 Is AmRest Holdings 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 AmRest Holdings 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 AmRest Holdings.

DB:1QT Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 7 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 9.7%
Perpetual Growth Rate 10-Year DE Government Bond Rate 0.2%

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 DB:1QT
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 7.1%
Hospitality Unlevered Beta Simply Wall St/ S&P Global 0.92
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.92 (1 + (1- 19%) (75.05%))
1.321
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.32
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (1.321 * 7.14%)
9.66%

Discounted Cash Flow Calculation for DB:1QT using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for AmRest Holdings 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.

DB:1QT DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (EUR, Millions) Source Present Value
Discounted (@ 9.66%)
2019 -26.11 Analyst x1 -23.81
2020 30.95 Analyst x2 25.73
2021 78.50 Analyst x3 59.53
2022 124.60 Analyst x2 86.16
2023 163.84 Analyst x2 103.31
2024 195.19 Est @ 19.13% 112.24
2025 221.46 Est @ 13.46% 116.12
2026 242.48 Est @ 9.49% 115.94
2027 258.75 Est @ 6.71% 112.82
2028 271.09 Est @ 4.77% 107.79
Present value of next 10 years cash flows €815.83
DB:1QT DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= €271.09 × (1 + 0.23%) ÷ (9.66% – 0.23%)
€2,880.27
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= €2,880.27 ÷ (1 + 9.66%)10
€1,145.25
DB:1QT Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= €815.83 + €1,145.25
€1,961.08
Equity Value per Share
(EUR)
= Total value / Shares Outstanding
= €1,961.08 / 217.97
€38.76
DB:1QT Discount to Share Price
Calculation Result
Exchange Rate EUR/PLN
(Reporting currency to currency of WSE:EAT)
4.256
Value per Share
(PLN)
= Value per Share in EUR x Exchange Rate (EUR/PLN)
= €9 x 4.256
PLN38.3
Non-primary Listing Adjustment Factor 1 share in DB:1QT represents 0.23215x of WSE:EAT
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.23215x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (PLN) x Listing Adjustment Factor
= PLN 38.30 x 0.23215
€8.89
Value per share (EUR) From above. €8.89
Current discount Discount to share price of €8.81
= -1 x (€8.81 - €8.89) / €8.89
0.9%

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

Current Discount
Amount off the current price AmRest Holdings is available for.
Intrinsic value
1%
Share price is €8.81 vs Future cash flow value of €8.89
Current Discount Checks
For AmRest Holdings to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • AmRest Holdings's share price is below the future cash flow value, but not at a moderate discount (< 20%).
  • AmRest Holdings's share price is below the future cash flow value, but not at a substantial discount (< 40%).
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 AmRest Holdings's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are AmRest Holdings's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:1QT PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in EUR €0.19
WSE:EAT Share Price ** WSE (2019-06-14) in PLN PLN37.95
WSE:EAT Share Price converted to EUR reporting currency Exchange rate (PLN/ EUR) 0.235 €8.92
Germany Hospitality Industry PE Ratio Median Figure of 10 Publicly-Listed Hospitality Companies 18.98x
Germany Market PE Ratio Median Figure of 424 Publicly-Listed Companies 19.7x

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

** Primary Listing of AmRest Holdings.

DB:1QT PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= WSE:EAT Share Price ÷ EPS (both in EUR)

= 8.92 ÷ 0.19

46.2x

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

  • AmRest Holdings is overvalued based on earnings compared to the DE Hospitality industry average.
  • AmRest Holdings is overvalued based on earnings compared to the Germany market.
Price based on expected Growth
Does AmRest Holdings's expected growth come at a high price?
Raw Data
DB:1QT PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 46.2x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 7 Analysts
37%per year
Germany Hospitality Industry PEG Ratio Median Figure of 5 Publicly-Listed Hospitality Companies 1.31x
Germany Market PEG Ratio Median Figure of 270 Publicly-Listed Companies 1.47x

*Line of best fit is calculated by linear regression .

DB:1QT PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 46.2x ÷ 37%

1.25x

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

  • AmRest Holdings is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on AmRest Holdings's assets?
Raw Data
DB:1QT PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in EUR €1.96
WSE:EAT Share Price * WSE (2019-06-14) in PLN PLN37.95
WSE:EAT Share Price converted to EUR reporting currency Exchange rate (PLN/ EUR) 0.235 €8.92
Germany Hospitality Industry PB Ratio Median Figure of 13 Publicly-Listed Hospitality Companies 2.06x
Germany Market PB Ratio Median Figure of 576 Publicly-Listed Companies 1.76x
DB:1QT PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= WSE:EAT Share Price ÷ Book Value per Share (both in EUR)

= 8.92 ÷ 1.96

4.56x

* Primary Listing of AmRest Holdings.

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

  • AmRest Holdings is overvalued based on assets compared to the DE Hospitality industry average.
X
Value checks
We assess AmRest Holdings'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 Hospitality 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 Hospitality industry average (and greater than 0)? (1 check)
  5. AmRest Holdings 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 AmRest Holdings expected to perform in the next 1 to 3 years based on estimates from 7 analysts?

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
37%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is AmRest Holdings expected to grow at an attractive rate?
  • AmRest Holdings's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • AmRest Holdings's earnings growth is expected to exceed the Germany market average.
  • AmRest Holdings's revenue growth is expected to exceed the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:1QT Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:1QT Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 7 Analysts 37%
DB:1QT Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 7 Analysts 13%
Germany Hospitality Industry Earnings Growth Rate Market Cap Weighted Average 18.9%
Germany Hospitality Industry Revenue Growth Rate Market Cap Weighted Average 4%
Germany Market Earnings Growth Rate Market Cap Weighted Average 12.7%
Germany Market Revenue Growth Rate Market Cap Weighted Average 5%

*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
DB:1QT Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 7 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:1QT Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 3,171 2
2022-12-31 2,894 3
2021-12-31 2,643 279 118 5
2020-12-31 2,280 228 79 7
2019-12-31 1,951 188 59 5
DB:1QT Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2019-03-31 1,644 197 42
2018-12-31 1,547 164 43
2018-09-30 1,456 175 41
2018-06-30 1,355 158 42
2018-03-31 1,320 160 43
2017-12-31 1,238 150 43
2017-09-30 1,161 134 45
2017-06-30 1,121 119 40
2017-03-31 1,056 115 40
2016-12-31 955 111 43
2016-09-30 910 115 42
2016-06-30 822 99 42

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • AmRest Holdings's earnings are expected to grow significantly at over 20% yearly.
  • AmRest Holdings's revenue is expected to grow by 13% 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
DB:1QT Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 7 Analyst Estimates (S&P Global) See Below

All data from AmRest Holdings Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:1QT Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 0.54 0.57 0.52 2.00
2020-12-31 0.36 0.42 0.29 3.00
2019-12-31 0.27 0.27 0.27 1.00
DB:1QT Past Financials Data
Date (Data in EUR Millions) EPS *
2019-03-31 0.19
2018-12-31 0.20
2018-09-30 0.19
2018-06-30 0.20
2018-03-31 0.20
2017-12-31 0.20
2017-09-30 0.21
2017-06-30 0.19
2017-03-31 0.19
2016-12-31 0.20
2016-09-30 0.20
2016-06-30 0.20

*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.
  • AmRest Holdings is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess AmRest Holdings'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 Germany market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Germany 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.
AmRest Holdings has a total score of 4/6, 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 AmRest Holdings 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 AmRest Holdings's growth in the last year to its industry (Hospitality).
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.
  • AmRest Holdings has delivered over 20% year on year earnings growth in the past 5 years.
  • AmRest Holdings's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • AmRest Holdings's 1-year earnings growth is negative, it can't be compared to the DE Hospitality industry average.
Earnings and Revenue History
AmRest Holdings'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 AmRest Holdings Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:1QT Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 1,644.40 41.60 122.50
2018-12-31 1,546.90 43.00 114.50
2018-09-30 1,455.79 41.30 106.77
2018-06-30 1,355.43 42.38 99.02
2018-03-31 1,319.80 43.30 97.70
2017-12-31 1,237.90 42.90 91.00
2017-09-30 1,160.68 44.69 86.26
2017-06-30 1,121.26 39.69 82.13
2017-03-31 1,055.76 40.28 73.87
2016-12-31 954.51 43.23 66.54
2016-09-30 909.52 41.95 66.10
2016-06-30 821.71 41.62 60.50
2016-03-31 812.34 40.70 61.98
2015-12-31 778.58 37.32 59.13
2015-09-30 758.31 29.49 53.46
2015-06-30 746.11 21.90 52.23
2015-03-31 742.76 17.23 49.71
2014-12-31 688.53 12.05 46.32
2014-09-30 689.45 0.98 48.61
2014-06-30 676.91 -4.78 49.42
2014-03-31 663.39 8.70 51.60
2013-12-31 650.11 5.49 52.63
2013-09-30 618.28 28.46 47.39
2013-06-30 581.09 30.03 43.86
2013-03-31 579.38 17.73 40.37
2012-12-31 576.45 19.58 38.38
2012-09-30 562.93 8.17 41.92
2012-06-30 531.75 8.88 38.95

*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.
  • AmRest Holdings has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • AmRest Holdings used its assets less efficiently than the DE Hospitality industry average last year based on Return on Assets.
  • AmRest Holdings's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess AmRest Holdings'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 Hospitality 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.
AmRest Holdings has a total score of 1/6, 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 AmRest Holdings'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 AmRest Holdings's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • AmRest Holdings's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • AmRest Holdings's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of AmRest Holdings'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 0.4x 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 AmRest Holdings Company Filings, last reported 2 months ago.

DB:1QT Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 439.30 1,458.50 107.20
2018-12-31 430.60 664.20 118.40
2018-09-30 343.90 491.70 112.80
2018-06-30 333.10 468.60 117.80
2018-03-31 333.50 472.80 118.50
2017-12-31 322.60 473.70 131.20
2017-09-30 314.46 392.25 112.96
2017-06-30 298.88 360.64 76.04
2017-03-31 303.14 323.72 60.89
2016-12-31 312.31 288.53 66.16
2016-09-30 301.66 290.75 72.29
2016-06-30 286.65 308.19 78.77
2016-03-31 272.12 269.59 75.83
2015-12-31 257.47 264.59 76.27
2015-09-30 254.71 266.65 61.80
2015-06-30 247.88 267.75 58.91
2015-03-31 249.03 271.06 68.04
2014-12-31 227.51 262.21 59.97
2014-09-30 257.44 270.80 58.76
2014-06-30 252.71 269.38 53.40
2014-03-31 247.53 269.96 56.14
2013-12-31 251.42 260.99 62.53
2013-09-30 264.80 241.50 47.45
2013-06-30 266.54 236.22 56.28
2013-03-31 260.14 205.72 48.15
2012-12-31 261.71 195.21 50.66
2012-09-30 250.32 236.85 54.45
2012-06-30 242.53 225.48 36.18
  • AmRest Holdings's level of debt (155.7%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (109% vs 155.7% today).
  • Debt is well covered by operating cash flow (28.8%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 4.6x coverage).
X
Financial health checks
We assess AmRest Holdings'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. AmRest Holdings has a total score of 2/6, 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 AmRest Holdings'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
0%
Current annual income from AmRest Holdings dividends. Estimated to be 0% next year.
If you bought €2,000 of AmRest Holdings shares you are expected to receive €0 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?
  • Unable to evaluate AmRest Holdings's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate AmRest Holdings's dividend against the top 25% market benchmark as the company has not reported any payouts.
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
DB:1QT 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 7 Analyst Estimates (S&P Global) See Below
Germany Hospitality Industry Average Dividend Yield Market Cap Weighted Average of 7 Stocks 8%
Germany Market Average Dividend Yield Market Cap Weighted Average of 327 Stocks 3.2%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.4%
Germany Top 25% Dividend Yield 75th Percentile 3.9%

Industry and Market average data is calculated daily.

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

DB:1QT Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 0.00 1.00
2020-12-31 0.00 1.00
2019-12-31 0.00 1.00

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

  • Unable to perform a dividend volatility check as AmRest Holdings has not reported any payouts.
  • Unable to verify if AmRest Holdings's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of AmRest Holdings's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as AmRest Holdings has not reported any payouts.
Future Payout to shareholders
  • No need to calculate the sustainability of AmRest Holdings's dividends in 3 years as they are not expected to pay a notable one for Germany.
X
Income/ dividend checks
We assess AmRest Holdings's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - 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 AmRest Holdings afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. AmRest Holdings has a total score of 0/6, 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 AmRest Holdings'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
Mark Chandler
COMPENSATION €1,672,461
AGE 63
TENURE AS CEO 0.3 years
CEO Bio

Mr. Mark R. Chandler has been Member of Management Board at AmRest Holdings SE since July 31, 2013 and also has been its Chief Financial Officer since November 2008 and also serves as its CEO. Mr. Chandler is responsible for the Finance Department, the Supply Chain Department, the IT Department, the Legal Department and the Relationships with Investors Department at AmRest Holdings. He served as a Member of Management Board of AmRest Holdings SE since December 16, 2010 until June 27, 2013. He served as Chief Financial Officer of Oh! Shoes. He served as Chief Financial Officer and Chief Operating Officer of OnScreen Technologies Inc. until June 4 2007. He also served as Principal Accounting Officer of OnScreen Technologies Inc. He joined OnScreen Technologies Inc. in January 2004 after working 23 years with Sara Lee Corporation where he held several senior positions in finance, general management and operations. He served as he Chief Executive Officer of Business Development Europe and a Member of the Management Board of Sara Lee Apparel Europe. He served as the Group Chief Financial Officer for the $2 billion European apparel group for Sara Lee where he had been responsible for all financial and administrative activities, IT and strategic planning. He also led the Sara Lee and launch of a new technological breakthrough product for the European apparel market. Mr. Chandler has extensive and diversified international experience in finance, IT, strategic planning and implementation, operations and general management, treasury, business development and corporate development including acquisitions and divestments. Mr. Chandler began his career with American Express as an internal consultant and held several financial positions with General Foods. He moved to Playtex, Inc. in 1980 and actively participated in two leverage buyouts prior to Playtex being sold to Sara Lee in 1991. He served as Member of the Board of Directors of Sara Lee Apparel Europe. Mr. Chandler serves as a Member of the European Executive Council. He also serves as a Director of the non-profit Frontier Foundation. Mr. Chandler holds a bachelor of arts degree in mathematics and economics from Whitman College in 1976 and an MBA in finance and marketing from Columbia University Graduate School of Business in 1978.

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

Average tenure and age of the AmRest Holdings management team in years:

1.4
Average Tenure
51
Average Age
  • The average tenure for the AmRest Holdings management team is less than 2 years, this suggests a new team.
Management Team

Mark Chandler

TITLE
CEO, CFO & Member of Management Board
COMPENSATION
€2M
AGE
63
TENURE
0.3 yrs

Henry McGovern

TITLE
COMPENSATION
€2M
AGE
51

Oksana Staniszewska

TITLE
Chief People Officer & Member of Management Board
COMPENSATION
€930K
TENURE
3.5 yrs

Olgierd Danielewicz

TITLE
COO & Member of Management Board
COMPENSATION
€890K

Michal Serwatka

TITLE
IR and M&A Director

Peter Kaineder

TITLE
Chief Strategy Officer
TENURE
1.4 yrs

Adam Sawicki

TITLE
Chief Digital Officer
AGE
47
TENURE
1.7 yrs

Jerzy Tymofiejew

TITLE
Chief Development Officer
TENURE
1.1 yrs

Ramanurup Sen

TITLE
Food Service President
TENURE
0.7 yrs

Malena Pato-Castel

TITLE
President of Owned Brands
TENURE
1.4 yrs
Board of Directors Tenure

Average tenure of the AmRest Holdings board of directors in years:

2.4
Average Tenure
  • The average tenure for the AmRest Holdings board of directors is less than 3 years, this suggests a new board.
Board of Directors

José Parés Gutiérrez

TITLE
Chairman of Supervisory Board
COMPENSATION
€316K
TENURE
3.8 yrs

Luis Álvarez Pérez

TITLE
Member of Supervisory Board
COMPENSATION
€316K

Steven Clark

TITLE
Independent Member of Supervisory Board
COMPENSATION
€460K

Carlos González

TITLE
Member of Supervisory Board
COMPENSATION
€320K
AGE
52
TENURE
2.4 yrs

Pablo Reparaz

TITLE
Independent Member of Supervisory Board
COMPENSATION
€434K
TENURE
2.4 yrs

Mustafa Ogretici

TITLE
Independent Member of Supervisory Board
COMPENSATION
€434K
TENURE
2.4 yrs
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 (€) Value (€)
X
Management checks
We assess AmRest Holdings'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. AmRest Holdings 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

Company Info

Description

AmRest Holdings SE, through its subsidiaries, operates and manages quick service and casual dining restaurants in Central and Eastern Europe, Western Europe, Russia, and China. It operates Kentucky Fried Chicken, Pizza Hut, Burger King, and Starbucks restaurants on the basis of franchise and joint venture partnerships. The company also operates its own restaurant under the La Tagliatella brand name, as well as Blue Frog and KABB brand names. In addition, it provides on-site catering services; take away services; drive-in services at special sales points; and deliveries for orders placed online or by telephone. As of November 15, 2018, it operated 2,015 restaurants. The company was founded in 1993 and is headquartered in Wroclaw, Poland. AmRest Holdings SE (WSE : EAT) operates as a subsidiary of Fcapital Dutch B.V.

Details
Name: AmRest Holdings SE
1QT
Exchange: DB
Founded: 1993
PLN1,943,383,292
217,967,445
Website: http://www.amrest.eu
Address: AmRest Holdings SE
pl. Grunwaldzki 25-27,
Wroclaw,
50-365,
Poland
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
WSE EAT Ordinary Shares Warsaw Stock Exchange PL PLN 27. Apr 2005
OTCPK ARHO.F Ordinary Shares Pink Sheets LLC US USD 27. Apr 2005
DB 1QT Ordinary Shares Deutsche Boerse AG DE EUR 27. Apr 2005
BMV EAT N Ordinary Shares Bolsa Mexicana de Valores MX MXN 27. Apr 2005
BME EAT Ordinary Shares Bolsas y Mercados Espanoles ES EUR 27. Apr 2005
Number of employees
Current staff
Staff numbers
41,332
AmRest Holdings employees.
Industry
Restaurants
Consumer Services
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/06/16 21:40
End of day share price update: 2019/06/14 00:00
Last estimates confirmation: 2019/06/15
Last earnings filing: 2019/05/07
Last earnings reported: 2019/03/31
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.