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April

DB:B2B
Snowflake Description

Excellent balance sheet with moderate growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
B2B
DB
€888M
Market Cap
  1. Home
  2. DE
  3. Insurance
Company description

April SA, together with its subsidiaries, designs, manages, and distributes insurance solutions and assistance services for individuals, professionals, and businesses. The last earnings update was 107 days ago. More info.


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B2B Share Price and Events
7 Day Returns
0%
DB:B2B
0.5%
DE Insurance
-0.7%
DE Market
1 Year Returns
68%
DB:B2B
21.2%
DE Insurance
-7.6%
DE Market
B2B Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
April (B2B) 0% 0.5% 1.4% 68% 91.6% 28.1%
DE Insurance 0.5% 2% 2.1% 21.2% 63% 61.1%
DE Market -0.7% -0.5% -3.8% -7.6% 8.3% 11.1%
1 Year Return vs Industry and Market
  • B2B outperformed the Insurance industry which returned 21.2% over the past year.
  • B2B outperformed the Market in Germany which returned -7.6% over the past year.
Price Volatility
B2B
Industry
5yr Volatility vs Market
Related Companies

Value

 Is April 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 April 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 April.

DB:B2B Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Median Return on Equity from the past 5 years.
= Stable Book Value * Return on Equity
= €17.64 * 6%
€1.06
Book Value of Equity per Share Weighted future Book Value estimates from 2 analysts. €17.64
Discount Rate (Cost of Equity) See below 5.6%
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:B2B
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6.7%
Insurance Unlevered Beta Simply Wall St/ S&P Global 0.69
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.685 (1 + (1- 33%) (7.68%))
0.813
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.81
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (0.813 * 6.65%)
5.63%

Discounted Cash Flow Calculation for DB:B2B using Excess Returns Model Model

The calculations below outline how an intrinsic value for April is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

DB:B2B Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (6% – 5.63%) * €17.64)
€0.06
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= €0.06 / (5.63% - 0.23%)
€1.14
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= €17.64 + €1.14
€18.78
DB:B2B Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:B2B represents 0.99079x of ENXTPA:APR
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.99079x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (EUR) x Listing Adjustment Factor
= € 18.78 x 0.99079
€18.61
Value per share (EUR) From above. €18.61
Current discount Discount to share price of €21.50
= -1 x (€21.50 - €18.61) / €18.61
-15.5%

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

  • The current share price of April is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
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 April's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are April's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:B2B PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in EUR €0.70
ENXTPA:APR Share Price ** ENXTPA (2019-07-19) in EUR €21.7
Germany Insurance Industry PE Ratio Median Figure of 6 Publicly-Listed Insurance Companies 13.38x
Germany Market PE Ratio Median Figure of 422 Publicly-Listed Companies 19.75x

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

** Primary Listing of April.

DB:B2B PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= ENXTPA:APR Share Price ÷ EPS (both in EUR)

= 21.7 ÷ 0.70

31.22x

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

  • April is overvalued based on earnings compared to the DE Insurance industry average.
  • April is overvalued based on earnings compared to the Germany market.
Price based on expected Growth
Does April's expected growth come at a high price?
Raw Data
DB:B2B PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 31.22x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts
21.4%per year
Germany Insurance Industry PEG Ratio Median Figure of 5 Publicly-Listed Insurance Companies 3.16x
Germany Market PEG Ratio Median Figure of 270 Publicly-Listed Companies 1.44x

*Line of best fit is calculated by linear regression .

DB:B2B PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 31.22x ÷ 21.4%

1.46x

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

  • April is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on April's assets?
Raw Data
DB:B2B PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in EUR €15.24
ENXTPA:APR Share Price * ENXTPA (2019-07-19) in EUR €21.7
Germany Insurance Industry PB Ratio Median Figure of 6 Publicly-Listed Insurance Companies 1.09x
Germany Market PB Ratio Median Figure of 570 Publicly-Listed Companies 1.71x
DB:B2B PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= ENXTPA:APR Share Price ÷ Book Value per Share (both in EUR)

= 21.7 ÷ 15.24

1.42x

* Primary Listing of April.

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

  • April is overvalued based on assets compared to the DE Insurance industry average.
X
Value checks
We assess April'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 Insurance 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 Insurance industry average (and greater than 0)? (1 check)
  5. April 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 April expected to perform in the next 1 to 3 years based on estimates from 2 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
21.4%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is April expected to grow at an attractive rate?
  • April's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • April's earnings growth is expected to exceed the Germany market average.
  • April's revenue growth is positive but not above the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:B2B Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:B2B Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts 21.4%
DB:B2B Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 2 Analysts 4.6%
Germany Insurance Industry Earnings Growth Rate Market Cap Weighted Average 4.6%
Germany Insurance Industry Revenue Growth Rate Market Cap Weighted Average 5%
Germany Market Earnings Growth Rate Market Cap Weighted Average 12.5%
Germany Market Revenue Growth Rate Market Cap Weighted Average 5.1%

*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:B2B Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (6 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:B2B Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 1,173 59 1
2020-12-31 1,083 52 2
2019-12-31 1,059 52 1
DB:B2B Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2018-12-31 1,006 82 28
2018-09-30 991 70 36
2018-06-30 975 57 43
2018-03-31 957 53 41
2017-12-31 939 48 40
2017-09-30 921 55 29
2017-06-30 903 62 18
2017-03-31 890 51 19
2016-12-31 878 40 20
2016-09-30 859 26 31
2016-06-30 839 11 41
2016-03-31 826 22 41

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • April's earnings are expected to grow significantly at over 20% yearly.
  • April's revenue is expected to grow by 4.6% 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:B2B Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (6 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below

All data from April Company Filings, last reported 6 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:B2B Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 1.44 1.44 1.44 1.00
2020-12-31 1.29 1.37 1.21 2.00
2019-12-31 1.28 1.28 1.28 1.00
DB:B2B Past Financials Data
Date (Data in EUR Millions) EPS *
2018-12-31 0.70
2018-09-30 0.88
2018-06-30 1.07
2018-03-31 1.02
2017-12-31 0.98
2017-09-30 0.71
2017-06-30 0.44
2017-03-31 0.47
2016-12-31 0.50
2016-09-30 0.75
2016-06-30 1.01
2016-03-31 1.03

*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.
  • April is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess April'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.
April has a total score of 3/6, 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 April 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 April's growth in the last year to its industry (Insurance).
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.
  • April's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
  • April's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • April's 1-year earnings growth is negative, it can't be compared to the DE Insurance industry average.
Earnings and Revenue History
April'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 April Company Filings, last reported 6 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:B2B Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 1,006.45 28.18 34.79
2018-09-30 990.63 35.74 34.39
2018-06-30 974.82 43.30 33.98
2018-03-31 957.14 41.46 33.84
2017-12-31 939.45 39.63 33.70
2017-09-30 921.21 28.75 33.07
2017-06-30 902.96 17.87 32.45
2017-03-31 890.29 19.00 32.72
2016-12-31 877.63 20.13 33.00
2016-09-30 858.56 30.52 32.94
2016-06-30 839.49 40.91 32.87
2016-03-31 826.46 41.50 32.65
2015-12-31 813.43 42.09 32.42
2015-09-30 804.02 40.58 32.07
2015-06-30 794.62 39.06 31.72
2015-03-31 789.13 38.73 31.36
2014-12-31 783.63 38.41 31.00
2014-06-30 800.59 50.47 32.02
2014-03-31 803.03 51.26 31.88
2013-12-31 805.46 52.05 31.75
2013-06-30 810.86 49.46 30.59
2013-03-31 808.44 51.13 30.12
2012-12-31 806.03 52.81 29.66
2012-09-30 796.71 55.60 29.42

*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.
  • April has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • April used its assets more efficiently than the DE Insurance industry average last year based on Return on Assets.
  • April's use of capital has not improved over the past 3 years (Return on Capital Employed).
X
Past performance checks
We assess April'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 Insurance 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.
April 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 April'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 April's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • April is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • April's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of April'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.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 8.8x 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 April Company Filings, last reported 6 months ago.

DB:B2B Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 617.09 68.19 136.21
2018-09-30 617.09 68.19 136.21
2018-06-30 641.94 73.77 94.47
2018-03-31 641.94 73.77 94.47
2017-12-31 632.12 52.18 107.84
2017-09-30 632.12 52.18 107.84
2017-06-30 618.13 55.04 111.29
2017-03-31 618.13 55.04 111.29
2016-12-31 614.82 18.08 99.50
2016-09-30 614.82 18.08 99.50
2016-06-30 620.52 27.46 120.36
2016-03-31 620.52 27.46 120.36
2015-12-31 606.57 21.16 101.81
2015-09-30 606.57 21.16 101.81
2015-06-30 595.94 19.38 102.94
2015-03-31 595.94 19.38 102.94
2014-12-31 579.26 15.35 81.34
2014-06-30 562.20 27.97 118.14
2014-03-31 562.20 27.97 118.14
2013-12-31 551.19 19.85 102.00
2013-06-30 527.07 19.58 124.95
2013-03-31 527.07 19.58 124.95
2012-12-31 515.60 14.49 116.77
2012-09-30 515.60 14.49 116.77
  • April's level of debt (11.1%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (3.6% vs 11.1% today).
  • Debt is well covered by operating cash flow (120%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 682.9x coverage).
X
Financial health checks
We assess April'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. April has a total score of 5/6, 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 April'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
0.78%
Current annual income from April dividends. Estimated to be 1.52% next year.
If you bought €2,000 of April shares you are expected to receive €16 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?
  • April's pays a lower dividend yield than the bottom 25% of dividend payers in Germany (1.48%).
  • April's dividend is below the markets top 25% of dividend payers in Germany (3.92%).
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:B2B 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 2 Analyst Estimates (S&P Global) See Below
Germany Insurance Industry Average Dividend Yield Market Cap Weighted Average of 6 Stocks 4.1%
Germany Market Average Dividend Yield Market Cap Weighted Average of 325 Stocks 3.2%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.5%
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:B2B Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 0.36 1.00
2020-12-31 0.32 2.00
2019-12-31 0.32 1.00
DB:B2B Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2019-04-04 0.170 0.792
2019-01-15 0.170 0.808
2018-04-05 0.270 1.904
2018-03-07 0.270 1.758
2017-04-12 0.260 1.901
2017-03-09 0.260 2.153
2016-04-07 0.260 2.189
2016-03-02 0.260 2.250
2015-04-01 0.420 3.330
2015-02-25 0.420 3.409
2014-03-31 0.500 3.462
2014-02-27 0.500 2.935
2013-03-18 0.330 2.282
2013-02-28 0.330 2.430
2012-03-20 0.490 3.731
2012-03-06 0.490 3.111
2011-03-15 0.490 3.325
2011-02-28 0.490 2.259
2010-03-09 0.440 2.037
2009-03-03 0.370 1.533

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

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have fallen over the past 10 years.
Current Payout to shareholders
What portion of April's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (4.1x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (4x coverage).
X
Income/ dividend checks
We assess April'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 April afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. April has a total score of 2/6, 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 April'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
Emmanuel Morandini
COMPENSATION €640,670
AGE 57
TENURE AS CEO 2.6 years
CEO Bio

Mr. Emmanuel Morandini is an ISTOM engineering graduate and holds an Executive MBA from ESSEC business school. He started his career in 1986 at CERIC Group (engineering) and later joined La Hénin Vie, which in 1999 became La Mondiale Partenaire, as Deputy CEO. In 2002 he joined CNP Assurances, where he served as Chairman and CEO of the Group’s subsidiaries in Argentina, Spain, Italy and Portugal. He joined April SA in 2014 as Deputy CEO. Mr. Morandini serves as Chief Executive Officer at April SA since December 07, 2016.

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

Average tenure of the April management team in years:

1.8
Average Tenure
  • The average tenure for the April management team is less than 2 years, this suggests a new team.
Management Team

Emmanuel Morandini

TITLE
Chief Executive Officer
COMPENSATION
€641K
AGE
57
TENURE
2.6 yrs

Emmanuel Maillet

TITLE
Deputy Director General in charge of Finance & Legal Affairs
AGE
41
TENURE
2.3 yrs

Guillaume CEREZO

TITLE
Investor relations & analysts / investors

Marc-André Dupont

TITLE
President & CEO of Pole Dommage and President of APRIL Brokerage

Roger Mainguy

TITLE
Chairman & CEO of Health Provident Division
TENURE
1.3 yrs

Jean-Hubert Bannwarth

TITLE
Deputy CEO of Health & Welfare Pole and Director Borrower
TENURE
0.1 yrs

Claude Cuerin

TITLE
Chairman of April Partenaires and Chief Executive Officer of April Partenaires

Lionel Boismery

TITLE
Chairman of April Marine and Chief Executive Officer of April Marine
Board of Directors Tenure

Average tenure and age of the April board of directors in years:

8.3
Average Tenure
62
Average Age
  • The tenure for the April board of directors is about average.
Board of Directors

Bruno Rousset

TITLE
Chairman of the Board
COMPENSATION
€111K
AGE
63
TENURE
11.9 yrs

Emmanuel Maillet

TITLE
Deputy Director General in charge of Finance & Legal Affairs
AGE
41
TENURE
2.3 yrs

Claude Cuerin

TITLE
Chairman of April Partenaires and Chief Executive Officer of April Partenaires

Lionel Boismery

TITLE
Chairman of April Marine and Chief Executive Officer of April Marine

Nick Kidd

TITLE
Chairman of April Canada Inc

Dominique Takizawa

TITLE
Independent Director
COMPENSATION
€27K
AGE
62
TENURE
9.3 yrs

Jacques Tassi

TITLE
Independent Director
COMPENSATION
€25K
AGE
71
TENURE
8.3 yrs

Philippe Marcel

TITLE
Director
COMPENSATION
€19K
AGE
66
TENURE
11.9 yrs

Dominique Druon

TITLE
Independent Director
COMPENSATION
€23K
AGE
54
TENURE
6.3 yrs

Rachael Hughes

TITLE
Independent Director
COMPENSATION
€27K
AGE
48
TENURE
5.3 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
19. Jul 19 Buy Andromeda Investissements Sas Company 18. Jul 19 18. Jul 19 3,238 €21.60 €69,941
18. Jul 19 Buy DOM Finance Company 27. Jun 19 03. Jul 19 186,000 €21.79 €4,047,724
17. Jul 19 Buy ESCA Company 04. Jul 19 15. Jul 19 1,721,478 €21.70 €37,313,022
18. Jul 19 Buy Andromeda Investissements Sas Company 17. Jul 19 17. Jul 19 129,095 €21.60 €2,788,452
17. Jul 19 Buy Andromeda Investissements Sas Company 16. Jul 19 16. Jul 19 67,705 €21.60 €1,462,428
16. Jul 19 Buy Andromeda Investissements Sas Company 15. Jul 19 15. Jul 19 4,536 €21.60 €97,978
16. Jul 19 Sell Syquant Capital SAS Company 15. Jul 19 15. Jul 19 -1,269,331 €21.70 €-27,544,482
15. Jul 19 Buy Andromeda Investissements Sas Company 12. Jul 19 12. Jul 19 1,890 €21.60 €40,824
12. Jul 19 Buy Andromeda Investissements Sas Company 11. Jul 19 11. Jul 19 326,915 €21.60 €7,061,364
02. Jul 19 Buy Syquant Capital SAS Company 01. Jul 19 01. Jul 19 3,063 €21.51 €65,885
18. Jun 19 Buy Andromeda Investissements Sas Company 17. Jun 19 17. Jun 19 79,931 €21.60 €1,726,510
17. Jun 19 Buy Andromeda Investissements Sas Company 14. Jun 19 14. Jun 19 4,162,112 €21.60 €89,901,620
17. Jun 19 Sell FMR LLC Company 14. Jun 19 14. Jun 19 -3,744,568 €21.60 €-80,882,670
03. Jun 19 Buy Syquant Capital SAS Company 31. May 19 31. May 19 12,000 €21.40 €256,800
20. May 19 Buy Syquant Capital SAS Company 17. May 19 17. May 19 87,224 €21.35 €1,862,232
15. May 19 Buy Syquant Capital SAS Company 14. May 19 14. May 19 2,000 €21.30 €42,600
14. May 19 Buy Syquant Capital SAS Company 13. May 19 13. May 19 153 €21.30 €3,259
13. May 19 Buy Syquant Capital SAS Company 10. May 19 10. May 19 5,550 €21.30 €118,215
10. May 19 Buy Syquant Capital SAS Company 09. May 19 09. May 19 68,666 €21.30 €1,462,586
06. May 19 Sell FMR LLC Company 02. May 19 02. May 19 -62,748 €21.30 €-1,336,532
03. May 19 Buy Syquant Capital SAS Company 02. May 19 02. May 19 62,748 €21.30 €1,336,532
02. May 19 Buy Syquant Capital SAS Company 30. Apr 19 30. Apr 19 11,288 €21.40 €241,563
25. Apr 19 Buy Syquant Capital SAS Company 24. Apr 19 24. Apr 19 7,350 €21.40 €157,290
24. Apr 19 Buy Syquant Capital SAS Company 23. Apr 19 23. Apr 19 18,371 €21.40 €393,139
23. Apr 19 Buy Syquant Capital SAS Company 18. Apr 19 18. Apr 19 22,472 €21.40 €480,901
17. Apr 19 Buy Syquant Capital SAS Company 16. Apr 19 16. Apr 19 622 €21.30 €13,249
11. Apr 19 Buy Syquant Capital SAS Company 10. Apr 19 10. Apr 19 8,604 €21.30 €183,265
04. Apr 19 Buy Syquant Capital SAS Company 03. Apr 19 03. Apr 19 5,000 €21.25 €106,250
03. Apr 19 Buy Syquant Capital SAS Company 02. Apr 19 02. Apr 19 37,000 €21.25 €786,250
02. Apr 19 Buy Syquant Capital SAS Company 01. Apr 19 01. Apr 19 7,000 €21.25 €148,750
27. Mar 19 Buy Syquant Capital SAS Company 26. Mar 19 26. Mar 19 5,000 €21.20 €106,000
26. Mar 19 Buy Syquant Capital SAS Company 25. Mar 19 25. Mar 19 10,000 €21.20 €212,000
22. Mar 19 Buy Syquant Capital SAS Company 21. Mar 19 21. Mar 19 5,044 €21.20 €106,933
19. Mar 19 Buy Syquant Capital SAS Company 18. Mar 19 18. Mar 19 5,572 €21.10 €117,569
14. Mar 19 Buy Syquant Capital SAS Company 13. Mar 19 13. Mar 19 2,460 €21.10 €51,906
13. Mar 19 Buy Syquant Capital SAS Company 12. Mar 19 12. Mar 19 644 €21.10 €13,588
12. Mar 19 Buy Syquant Capital SAS Company 11. Mar 19 11. Mar 19 1,535 €21.00 €32,235
08. Mar 19 Buy Syquant Capital SAS Company 07. Mar 19 07. Mar 19 14,737 €21.00 €309,477
01. Feb 19 Buy Syquant Capital SAS Company 31. Jan 19 31. Jan 19 200,000 €21.00 €4,200,000
30. Jan 19 Buy Syquant Capital SAS Company 29. Jan 19 29. Jan 19 450,000 €20.80 €9,360,000
X
Management checks
We assess April'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. April 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

April SA, together with its subsidiaries, designs, manages, and distributes insurance solutions and assistance services for individuals, professionals, and businesses. The company’s Health & Personal Protection segment offers insurance policies that provide coverage for individual health, loan, corporate brokerage, professional and individual personal protection in France, and local health and personal protection outside of France. Its Property & Casualty segment provides individual property and casualty, corporate brokerage, travel insurance and assistance, expat, international property and casualty, and legal protection policies. The company also offers funeral insurance, pet insurance policies, etc.; and reinsurance products. It sells its products through a network of agencies and distributors, as well as through online sales channel linked with call centers and mobile sales networks. The company was founded in 1988 and is headquartered in Lyon, France. April SA is a subsidiary of Andromeda Investissements Sas.

Details
Name: April SA
B2B
Exchange: DB
Founded: 1988
€888,306,143
40,935,767
Website: http://www.april.com
Address: April SA
114 Boulevard Marius Vivier Merle,
Lyon,
Rhône-Alpes, 69003,
France
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
ENXTPA APR Ordinary Shares Euronext Paris FR EUR 19. Jan 1998
DB B2B Ordinary Shares Deutsche Boerse AG DE EUR 19. Jan 1998
LSE 0N69 Ordinary Shares London Stock Exchange GB EUR 19. Jan 1998
BATS-CHIXE APRP Ordinary Shares BATS 'Chi-X Europe' GB EUR 19. Jan 1998
Number of employees
Current staff
Staff numbers
3,907
April employees.
Industry
Insurance Brokers
Insurance
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/07/20 21:15
End of day share price update: 2019/07/19 00:00
Last estimates confirmation: 2019/06/14
Last earnings filing: 2019/04/04
Last earnings reported: 2018/12/31
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.