Loading...

Corticeira Amorim S.G.P.S

BST:AS4
Snowflake Description

Flawless balance sheet average dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
AS4
BST
€1B
Market Cap
  1. Home
  2. DE
  3. Materials
Company description

Corticeira Amorim, S.G.P.S., S.A. manufactures and sells cork and cork related products worldwide. The last earnings update was 17 days ago. More info.


Add to Portfolio Compare Print Invest
AS4 Share Price and Events
Price Volatility
AS4
Industry
5yr Volatility vs Market

Value

 Is Corticeira Amorim S.G.P.S 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 Corticeira Amorim S.G.P.S 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 Corticeira Amorim S.G.P.S.

BST:AS4 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 3 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 8.4%
Perpetual Growth Rate 10-Year DE Government Bond Rate 0.5%

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 BST:AS4
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.5%
Equity Risk Premium S&P Global 9.5%
Forestry Unlevered Beta Simply Wall St/ S&P Global 0.78
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.776 (1 + (1- 21%) (9.03%))
0.831
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.83
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.54% + (0.831 * 9.46%)
8.4%

Discounted Cash Flow Calculation for BST:AS4 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Corticeira Amorim S.G.P.S is arrived at by discounting future cash flows to their present value using the 2 stage method. We use analyst's estimates of cash flows going forward 5 years for the 1st stage, the 2nd stage assumes the company grows at a stable rate into perpetuity.

BST:AS4 DCF 1st Stage: Next 5 year cash flow forecast
2019 2020 2021 2022 2023
Levered FCF (EUR, Millions) 96.95 84.85 94.65 100.77 107.29
Source Analyst x2 Analyst x2 Analyst x2 Est @ 6.47% Est @ 6.47%
Present Value
Discounted (@ 8.4%)
89.43 72.21 74.30 72.97 71.67
Present value of next 5 years cash flows €380.59
BST:AS4 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2023 × (1 + g) ÷ (Discount Rate – g)
= €107.29 × (1 + 0.54%) ÷ (8.4% – 0.54%)
€1,372.20
Present Value of Terminal Value = Terminal Value ÷ (1 + r)5
= €1,372.20 ÷ (1 + 8.4%)5
€916.66
BST:AS4 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 5 years cash flows + Terminal Value
= €380.59 + €916.66
€1,297.25
Equity Value per Share
(EUR)
= Total value / Shares Outstanding
= €1,297.25 / 133.00
€10.64
BST:AS4 Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in BST:AS4 represents 1.09037x of ENXTLS:COR
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
1.09037x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (EUR) x Listing Adjustment Factor
= € 9.75 x 1.09037
€10.64
Value per share (EUR) From above. €10.64
Current discount Discount to share price of €11.10
= -1 x (€11.10 - €10.64) / €10.64
-4.4%

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

  • The current share price of Corticeira Amorim S.G.P.S 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 Corticeira Amorim S.G.P.S's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Corticeira Amorim S.G.P.S's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
BST:AS4 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-06-30) in EUR €0.58
ENXTLS:COR Share Price ** ENXTLS (2018-07-18) in EUR €10.18
Europe Forestry Industry PE Ratio Median Figure of 34 Publicly-Listed Forestry Companies 14.53x
Germany Market PE Ratio Median Figure of 407 Publicly-Listed Companies 18.17x

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

** Primary Listing of Corticeira Amorim S.G.P.S.

BST:AS4 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= ENXTLS:COR Share Price ÷ EPS (both in EUR)

= 10.18 ÷ 0.58

17.7x

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

  • Corticeira Amorim S.G.P.S is overvalued based on earnings compared to the Europe Forestry industry average.
  • Corticeira Amorim S.G.P.S is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does Corticeira Amorim S.G.P.S's expected growth come at a high price?
Raw Data
BST:AS4 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 17.7x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts
8.2%per year
Europe Forestry Industry PEG Ratio Median Figure of 22 Publicly-Listed Forestry Companies 0.74x
Germany Market PEG Ratio Median Figure of 270 Publicly-Listed Companies 1.37x

*Line of best fit is calculated by linear regression .

BST:AS4 PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 17.7x ÷ 8.2%

2.15x

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

  • Corticeira Amorim S.G.P.S is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Corticeira Amorim S.G.P.S's assets?
Raw Data
BST:AS4 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-06-30) in EUR €3.33
ENXTLS:COR Share Price * ENXTLS (2018-07-18) in EUR €10.18
Europe Forestry Industry PB Ratio Median Figure of 38 Publicly-Listed Forestry Companies 1.47x
Germany Market PB Ratio Median Figure of 547 Publicly-Listed Companies 1.86x
BST:AS4 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= ENXTLS:COR Share Price ÷ Book Value per Share (both in EUR)

= 10.18 ÷ 3.33

3.06x

* Primary Listing of Corticeira Amorim S.G.P.S.

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

  • Corticeira Amorim S.G.P.S is overvalued based on assets compared to the Europe Forestry industry average.
X
Value checks
We assess Corticeira Amorim S.G.P.S'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 Forestry 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 Forestry industry average (and greater than 0)? (1 check)
  5. Corticeira Amorim S.G.P.S has a total score of 1/6, 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 Corticeira Amorim S.G.P.S expected to perform in the next 1 to 3 years based on estimates from 3 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
8.2%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Corticeira Amorim S.G.P.S expected to grow at an attractive rate?
  • Corticeira Amorim S.G.P.S's earnings growth is expected to exceed the low risk savings rate of 0.5%.
Growth vs Market Checks
  • Corticeira Amorim S.G.P.S's earnings growth is positive but not above the Germany market average.
  • Corticeira Amorim S.G.P.S's revenue growth is expected to exceed the Germany market average.
Annual Growth Rates Comparison
Raw Data
BST:AS4 Future Growth Rates Data Sources
Data Point Source Value (per year)
BST:AS4 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts 8.2%
BST:AS4 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 3 Analysts 5.5%
Europe Forestry Industry Earnings Growth Rate Market Cap Weighted Average 4.7%
Europe Forestry Industry Revenue Growth Rate Market Cap Weighted Average 3%
Germany Market Earnings Growth Rate Market Cap Weighted Average 10.7%
Germany Market Revenue Growth Rate Market Cap Weighted Average 5.4%

*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
BST:AS4 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
BST:AS4 Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 902 127 102 2
2020-12-31 845 116 89 3
2019-12-31 804 127 78 3
2018-12-31 761 118 77 2
BST:AS4 Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2018-06-30 747 59 76
2018-03-31 715 70 75
2017-12-31 702 75 73
2017-09-30 682 23 104
2017-06-30 662 75 105
2017-03-31 656 80 106
2016-12-31 641 60 103
2016-09-30 633 85 69
2016-06-30 630 71 64
2016-03-31 614 56 60
2015-12-31 605 55 55
2015-09-30 594 57 48

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Corticeira Amorim S.G.P.S's earnings are expected to grow by 8.2% yearly, however this is not considered high growth (20% yearly).
  • Corticeira Amorim S.G.P.S's revenue is expected to grow by 5.5% 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
BST:AS4 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below

All data from Corticeira Amorim S.G.P.S Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

BST:AS4 Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 0.77 0.77 0.77 1.00
2020-12-31 0.67 0.71 0.62 2.00
2019-12-31 0.59 0.63 0.55 2.00
2018-12-31 0.58 0.62 0.54 2.00
BST:AS4 Past Financials Data
Date (Data in EUR Millions) EPS *
2018-06-30 0.58
2018-03-31 0.56
2017-12-31 0.55
2017-09-30 0.78
2017-06-30 0.79
2017-03-31 0.80
2016-12-31 0.77
2016-09-30 0.52
2016-06-30 0.49
2016-03-31 0.47
2015-12-31 0.43
2015-09-30 0.39

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

BST:AS4 Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-06-30 746.71 76.48 255.46
2018-03-31 715.26 74.63 247.79
2017-12-31 701.61 73.03 242.36
2017-09-30 682.02 103.84 233.53
2017-06-30 662.22 105.32 224.94
2017-03-31 656.43 106.00 222.14
2016-12-31 641.41 102.70 216.89
2016-09-30 632.77 68.63 219.30
2016-06-30 629.56 63.94 222.09
2016-03-31 614.14 60.48 217.27
2015-12-31 604.80 55.01 215.54
2015-09-30 593.54 48.33 200.92
2015-06-30 580.49 43.56 196.63
2015-03-31 569.10 38.22 191.05
2014-12-31 560.34 35.76 191.27
2014-09-30 553.04 34.24 189.09
2014-06-30 549.88 32.21 190.10
2014-03-31 547.54 31.03 192.36
2013-12-31 542.50 30.34 190.16
2013-09-30 544.89 29.70 189.57
2013-06-30 540.91 29.89 189.65
2013-03-31 536.52 30.59 186.30
2012-12-31 534.24 31.06 183.66
2012-09-30 523.24 30.33 183.13
2012-06-30 515.16 29.18 174.75
2012-03-31 505.70 -106.83 179.08
2011-12-31 494.84 25.27 173.37

*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.
  • Corticeira Amorim S.G.P.S has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Corticeira Amorim S.G.P.S used its assets more efficiently than the Europe Forestry industry average last year based on Return on Assets.
  • Corticeira Amorim S.G.P.S has improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Corticeira Amorim S.G.P.S'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 Forestry 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.
Corticeira Amorim S.G.P.S has a total score of 3/6, 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 Corticeira Amorim S.G.P.S'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 Corticeira Amorim S.G.P.S's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Corticeira Amorim S.G.P.S is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Corticeira Amorim S.G.P.S's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Corticeira Amorim S.G.P.S'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 covered by short term assets, assets are 5.2x 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 Corticeira Amorim S.G.P.S Company Filings, last reported 3 months ago.

BST:AS4 Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2018-06-30 475.05 124.59 22.46
2018-03-31 479.34 104.47 18.54
2017-12-31 459.99 109.79 16.94
2017-09-30 452.99 109.52 33.74
2017-06-30 439.91 72.54 61.47
2017-03-31 444.23 65.93 54.22
2016-12-31 426.94 87.01 51.12
2016-09-30 388.46 74.18 9.92
2016-06-30 368.45 94.49 14.32
2016-03-31 368.54 95.74 8.62
2015-12-31 354.13 91.36 7.46
2015-09-30 373.22 90.58 36.89
2015-06-30 326.51 100.31 6.94
2015-03-31 328.03 98.89 8.55
2014-12-31 315.57 96.18 6.04
2014-09-30 316.65 102.22 7.47
2014-06-30 305.14 116.24 9.39
2014-03-31 291.59 108.55 5.98
2013-12-31 301.74 113.01 7.79
2013-09-30 306.16 118.83 13.41
2013-06-30 298.08 126.31 9.65
2013-03-31 301.24 155.32 38.58
2012-12-31 295.25 162.08 39.02
2012-09-30 304.49 166.08 41.21
2012-06-30 292.88 148.52 23.71
2012-03-31 289.13 160.60 36.79
2011-12-31 282.29 142.46 21.68
  • Corticeira Amorim S.G.P.S's level of debt (26.2%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (42.3% vs 26.2% today).
  • Debt is well covered by operating cash flow (47.3%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 45.1x coverage).
X
Financial health checks
We assess Corticeira Amorim S.G.P.S'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. Corticeira Amorim S.G.P.S has a total score of 6/6, 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 Corticeira Amorim S.G.P.S'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
2.6%
Current annual income from Corticeira Amorim S.G.P.S dividends. Estimated to be 2.86% next year.
If you bought €2,000 of Corticeira Amorim S.G.P.S shares you are expected to receive €52 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?
  • Corticeira Amorim S.G.P.S's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.51%).
  • Corticeira Amorim S.G.P.S's dividend is below the markets top 25% of dividend payers in Germany (3.82%).
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
BST:AS4 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 3 Analyst Estimates (S&P Global) See Below
Europe Forestry Industry Average Dividend Yield Market Cap Weighted Average of 25 Stocks 3.3%
Germany Market Average Dividend Yield Market Cap Weighted Average of 322 Stocks 3.1%
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 3.8%

Industry and Market average data is calculated daily.

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

BST:AS4 Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 0.29 1.00
2020-12-31 0.32 3.00
2019-12-31 0.28 3.00
2018-12-31 0.27 2.00
BST:AS4 Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2018-03-21 0.265 2.378
2018-02-27 0.265 2.640
2016-11-28 0.260 2.459
2016-03-04 0.405 5.437
2016-01-15 0.405 7.063
2015-03-24 0.140 3.060
2014-05-29 0.120 3.915
2014-05-12 0.120 3.999
2014-02-27 0.120 4.159
2013-05-20 0.100 4.634
2013-05-03 0.100 5.111
2012-03-07 0.065 4.152
2011-05-25 0.100 8.534
2011-02-28 0.100 8.613
2010-02-25 0.000 0.000
2009-11-18 0.000 0.000
2009-11-05 0.000 0.000
2009-08-31 0.000 0.000
2009-08-07 0.000 0.000
2009-05-28 0.000 0.000
2009-03-04 0.000 0.000
2009-02-18 0.000 0.000
2008-10-16 0.060 6.336

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 increased over the past 10 years.
Current Payout to shareholders
What portion of Corticeira Amorim S.G.P.S's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (3.1x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2.3x coverage).
X
Income/ dividend checks
We assess Corticeira Amorim S.G.P.S'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 Corticeira Amorim S.G.P.S afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Corticeira Amorim S.G.P.S has a total score of 4/6, 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 Corticeira Amorim S.G.P.S'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
Antonio de Amorim, image provided by Google.
Antonio de Amorim
COMPENSATION €349,839
AGE 50
TENURE AS CEO 17.6 years
CEO Bio

Mr. Antonio Rios De Amorim has been Executive Chairman and Chief Executive Officer of Corticeira Amorim SGPS SA since March 31, 2001 and serves as its Director since March 29, 1990. Mr. De Amorim serves as the President of Amorim Desenvolvimento, S.G.P.S., S.A. He serves as the Chairman of the Board of Directorsof Amorim Florestal - Indústria, Comércio e Exploração, SA; Amorim Florestal España, SL; Amorim Investimentos e Participações, S.G.P.S., S.A; Amorim & Irmãos IV, SA; Amorim & Irmãos VI, SA; Amorim Industrial Solutions - Indústria de Cortiça e Borracha I, SA; Amorim Industrial Solutions -Indústria de Cortiça e Borracha II, SA; Amorim Industrial Solutions - SGPS, SA; Amorim Isolamentos, SA and Corticeira Amorim - Indústria, SA. He served as Chairman of the Board of Directors and Executive Board of CORTICEIRA AMORIM since March 31, 2001. He serves as Vice Chairman of the Board of Directors of Amorim & Irmãos, SA; Amorim & Irmãos, SGPS, SA; Amorim Revestimentos, SA and Luxor, SGPS, SA. He served as Vice Chairman of Corticeira Amorim SGPS SA. He serves as a Member of the Board of Directors of Amorim Florestal - Espanha, SA; Amorim Desenvolvimento, S.G.P.S., S.A.; Afaprom - Sociedade Agro-Florestal, SA; Amorim, SGPS, SA; Amorim Capital, SGPS, SA; Amorim Capital - Sociedade Gestora de Participações Sociais, S.A, SA; Cimorim - Sociedade Agro-Florestal, SA; Corpóreo - Compra e Venda de Imóveis, SA; Interfamília II, SGPS, SA; Resiféria - Construções Urbanas, SA and S21 - Sociedade de Investimento Imobiliário, SA. He served as a Director of Amorim & Irmãos from 1996 to 2001, Administrator of Sociedade Figueira-Praia from 1993 to 2006, responsible for operations in Amorim - Empreendimentos Imobiliários - which promoted the Torres de Lisboa and Arrábida Shopping projects from 1993 to 1995, Executive Administrator of Amorim Hotéis, SA, with responsibility for developing the Ibis and Novotel chains in Portugal. He serves as Chairman of the Board at Associação Portuguesa da Cortiça and Confédération Européenne du Liège. He was an associate of the European Round Table of Industrialists - the only Portuguese entrepreneur to belong to this association (1991-1995). President of the Portuguese Cork Association (since 2002) and of the Confédération Européenne du Liège (since 2003). In February 2006, he was honoured, by His Excellency the President of the Republic of Portugal, with the title of Comenda de Grande-Oficial da Ordem de Mérito Agrícola, Comercial e Industrial, a Portuguese honorific order which recognises major agricultural, commercial and industrial merit. Mr. De Amorim was awarded the degree Bachelor of Commerce by the Faculty of Commerce and Social Sciences of the University of Birmingham in 1989 and attended -The Executive Program in Business Administration: Managing the Enterprise Columbia University Graduate School of Business in 1992 and Managerial Skills for International Business - INSEAD in 2001.

CEO Compensation
  • Antonio's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.
  • Antonio's remuneration is lower than average for companies of similar size in Germany.
Management Team

Antonio de Amorim

TITLE
Chairman & CEO
COMPENSATION
€350K
AGE
50
TENURE
17.6 yrs

Nuno Felipe Vilela de Oliveira

TITLE
Vice-Chairman
COMPENSATION
€225K
AGE
47

Fernando de Araújo dos Santos Almeida

TITLE
Executive Director
COMPENSATION
€201K
AGE
56

Pedro Magalhães

TITLE
Secretary

Pedro Nuno Duarte

TITLE
Alternate Secretary

Joaquim de Amorim

TITLE
Adviser to the Board of Directors
AGE
81
TENURE
6.3 yrs
Board of Directors Tenure

Average tenure and age of the Corticeira Amorim S.G.P.S board of directors in years:

6.3
Average Tenure
49.5
Average Age
  • The tenure for the Corticeira Amorim S.G.P.S board of directors is about average.
Board of Directors

Antonio de Amorim

TITLE
Chairman & CEO
COMPENSATION
€350K
AGE
50
TENURE
17.6 yrs

Nuno Felipe Vilela de Oliveira

TITLE
Vice-Chairman
COMPENSATION
€225K
AGE
47

Fernando de Araújo dos Santos Almeida

TITLE
Executive Director
COMPENSATION
€201K
AGE
56
TENURE
9.3 yrs

Manuel Fernandes

TITLE
Chairman of Supervisory Board

Luisa Alexandra Amorim

TITLE
Non-Executive Director
COMPENSATION
€63K
AGE
44
TENURE
15.6 yrs

Cristina de Amorim Baptista

TITLE
Non-Executive Director
COMPENSATION
€144K
AGE
49
TENURE
6.3 yrs

Juan Vinas

TITLE
Non-Executive Director
AGE
77
TENURE
6.3 yrs

Durval Marques

TITLE
Alternate Member of the Supervisory Board
TENURE
4.6 yrs

Ana de Sousa e Silva

TITLE
Member of Supervisory Board

Eugenio Luis Lopes Ferreira

TITLE
Member of Supervisory Board
TENURE
4.6 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Start End Shares Value (USD)
X
Management checks
We assess Corticeira Amorim S.G.P.S'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. Corticeira Amorim S.G.P.S 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

External News
Loading...
Simply Wall St News

Company Info

Map
Description

Corticeira Amorim, S.G.P.S., S.A. manufactures and sells cork and cork related products worldwide. The company operates in five business units: Raw Materials, Cork Stoppers, Floor and Wall Coverings, Composite Cork, and Insulation Cork. It offers wine, champagne and sparkling wine, and capsulated cork stoppers; cork floor and wall coverings, and wood floorings; and cork composite solutions. The company also provides expanded insulation cork boards for use in exterior and interior walls, double walls, paving slabs, flat and sloping roofs, and under floor heating; MDFachada, an expanded insulation corkboard for use in exterior wall cladding, and interior walls and ceilings; Lambourdé, a system for quick assembly designed for insulation solutions in new construction and building renovation; Corkoco, a solution for acoustic insulation in ceilings, walls, and floors; Coco, a solution of hard fibers for acoustic insulation applications; expanded cork granulate, a lightweight filling solution with acoustic insulation properties for use in floor leveling products, floors, and interior double walls; and Corksorb, a cork based absorbent to absorbs oils, hydrocarbons, and their derivatives without absorbing water. It serves the wine and spirits, construction and infrastructure, architecture and design, aerospace, transportation and energy, and sports industries. The company was founded in 1870 and is headquartered in Mozelos, Portugal.

Details
Name: Corticeira Amorim, S.G.P.S., S.A.
AS4
Exchange: BST
Founded: 1870
€1,380,540,000
133,000,000
Website: http://www.corticeiraamorim.com
Address: Corticeira Amorim, S.G.P.S., S.A.
Edifício Amorim I,
Rua de Meladas, Nº 380,
Mozelos,
4536-902,
Portugal
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
ENXTLS COR Ordinary Shares Euronext Lisbon PT EUR 02. Jan 1992
DB AS4 Ordinary Shares Deutsche Boerse AG DE EUR 02. Jan 1992
BST AS4 Ordinary Shares Boerse-Stuttgart DE EUR 02. Jan 1992
LSE 0O7J Ordinary Shares London Stock Exchange GB EUR 02. Jan 1992
BATS-CHIXE CORU Ordinary Shares BATS 'Chi-X Europe' GB EUR 02. Jan 1992
Number of employees
Current staff
Staff numbers
4,350
Corticeira Amorim S.G.P.S employees.
Industry
Forest Products
Materials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2018/10/15 18:20
End of day share price update: 2018/07/18 00:00
Last estimates confirmation: 2018/08/02
Last earnings filing: 2018/09/28
Last earnings reported: 2018/06/30
Last annual earnings reported: 2017/12/31


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.