BST:IBG

Stock Analysis Report

Iberpapel Gestión

Executive Summary

Iberpapel Gestión, S.A., together with its subsidiaries, manufactures, sells, and exports writing and printing paper in Spain and internationally.

Snowflake

Fundamentals

Excellent balance sheet second-rate dividend payer.

Risks

  • Iberpapel Gestión is covered by less than 3 analysts.

Share Price & News

How has Iberpapel Gestión's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

1.8%

BST:IBG

1.6%

DE Forestry

0.8%

DE Market


1 Year Return

-22.7%

BST:IBG

-28.4%

DE Forestry

-10.9%

DE Market

IBG outperformed the Forestry industry which returned -28.4% over the past year.

IBG underperformed the Market in Germany which returned -10.9% over the past year.


Share holder returns

IBGIndustryMarket
7 Day1.8%1.6%0.8%
30 Day6.9%-7.4%-5.0%
90 Day-3.4%-0.3%-2.9%
1 Year-21.3%-22.7%-25.1%-28.4%-8.1%-10.9%
3 Year62.9%55.0%33.5%-12.6%10.4%0.9%
5 Year162.6%136.4%98.2%26.1%25.5%8.1%

Price Volatility Vs. Market

How volatile is Iberpapel Gestión's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is Iberpapel Gestión undervalued based on future cash flows and its price relative to the stock market?

11.44x

Price to Earnings (PE) ratio


Intrinsic Value Based on Future Cash Flows

Iberpapel Gestión's share price is above the future cash flow value, it's not available at a moderate discount (< 20%).

Iberpapel Gestión's share price is above the future cash flow value, it's not available at a substantial discount (< 40%).


Price Based on Earnings

Iberpapel Gestión is overvalued based on earnings compared to the Europe Forestry industry average.

Iberpapel Gestión is good value based on earnings compared to the Germany market.


Price Based on Expected Growth

Iberpapel Gestión earnings are not expected to grow next year, we can't assess if its growth is good value.


Price Based on Value of Assets

Iberpapel Gestión is good value based on assets compared to the Europe Forestry industry average.


Next Steps

Future Growth

How is Iberpapel Gestión expected to perform in the next 1 to 3 years based on estimates from 2 analysts?

-5.1%

Forecasted annual earnings growth


Earnings and Revenue Growth Estimates


Future Annual Growth Analysis

Iberpapel Gestión's revenue is expected to grow by 9.2% yearly, however this is not considered high growth (20% yearly).

Iberpapel Gestión's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.

Iberpapel Gestión's revenue growth is expected to exceed the Germany market average.

Iberpapel Gestión's earnings are expected to decrease over the next 1-3 years, this is below the Germany market average.

Iberpapel Gestión's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 0.2%.


Earnings per Share Growth Estimates


Future Return on Equity

Unable to establish if Iberpapel Gestión will efficiently use shareholders’ funds in the future without estimates of Return on Equity.


Next Steps

Past Performance

How has Iberpapel Gestión performed over the past 5 years?

24.1%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Iberpapel Gestión has delivered over 20% year on year earnings growth in the past 5 years.

Iberpapel Gestión's 1-year earnings growth is less than its 5-year average (2.7% vs 24.1%)

Iberpapel Gestión's earnings growth has not exceeded the Europe Forestry industry average in the past year (2.7% vs 3.9%).


Return on Equity

Iberpapel Gestión has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).


Return on Assets

Iberpapel Gestión used its assets more efficiently than the Europe Forestry industry average last year based on Return on Assets.


Return on Capital Employed

Iberpapel Gestión's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).


Next Steps

Financial Health

How is Iberpapel Gestión's financial position?


Financial Position Analysis

Iberpapel Gestión is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.

Iberpapel Gestión's cash and other short term assets cover its long term commitments.


Debt to Equity History and Analysis

Iberpapel Gestión's level of debt (27.6%) compared to net worth is satisfactory (less than 40%).

The level of debt compared to net worth has increased over the past 5 years (1.2% vs 27.6% today).

Debt is well covered by operating cash flow (46.5%, greater than 20% of total debt).

Interest payments on debt are well covered by earnings (EBIT is 28.3x coverage).


Balance Sheet

High level of physical assets or inventory.

Debt is covered by short term assets, assets are 3.2x debt.


Next Steps

Dividend

What is Iberpapel Gestión's current dividend yield, its reliability and sustainability?

1.76%

Expected Dividend Yield


Dividend Yield and Payments Analysis

Iberpapel Gestión's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.53%).

Iberpapel Gestión's dividend is below the markets top 25% of dividend payers in Germany (4.08%).

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

Dividends paid are thoroughly covered by earnings (8x coverage).


Future Payout to Shareholders

Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.


Next Steps

Management

What is the CEO of Iberpapel Gestión's salary, the management and board of directors tenure and is there insider trading?

9.2yrs

Average board tenure


CEO

Fermín Urtasun Erro 0

0.0yrs

Tenure

0

Mr. Fermín Urtasun Erro serves as the Chief Executive Officer of Iberpapel Gestion SA. Mr. Erro served as an Assistant Chief Executive Officer of Iberpapel Gestion SA. 


Board Age and Tenure

9.2yrs

Average Tenure

The tenure for the Iberpapel Gestión board of directors is about average.


Insider Trading

No 3 month open market individual insider trading information.


Recent Insider Transactions

Buy€0.10000416 Nov 18
María Luisa Guibert Ucín
EntityIndividual
Role
Member of the Board of Directors
Non-Executive Independent Director
Shares10
Max Price€0.01
Buy€1515 Nov 18
Néstor Basterra Larroude
EntityIndividual
Role
Vice Chairman
Vice Chairman
Shares1,545
Max Price€0.01
Buy€1915 Nov 18
Iñigo Echevarría Canales
EntityIndividual
Role
Chairman of the Board
Chairman
Shares1,870
Max Price€0.01
Buy€0.04000115 Nov 18
Martín María González del Valle Chávarri
EntityIndividual
Role
Member of the Board of Directors
External Director
Shares4
Max Price€0.01
Buy€215 Nov 18
Iñaki Martínez Peñalba
EntityIndividual
Role
Member of the Board of Directors
Non-Executive Independent Director
Shares163
Max Price€0.01
Buy€0.17000615 Nov 18
Gabriel Sansinenea Urbistondo
EntityIndividual
Role
Member of the Board of Directors
Non-Executive Independent Director
Shares17
Max Price€0.01
Buy€315 Nov 18
Iñaki Usandizaga Aranzadi
EntityIndividual
Role
Member of the Board of Directors
Non-Executive Director
Shares263
Max Price€0.01
Buy€0.10000415 Nov 18
Jesús Alberdi Areízaga
EntityIndividual
Role
Member of the Board of Directors
Non-Executive Independent Director
Shares10
Max Price€0.01

Ownership Breakdown


Management Team

  • Iñigo Echevarría Canales

    Chairman

    • Tenure: 9.7yrs
  • Joaquín Manso Ramón

    Legal Director & Secretary to the Board

    • Tenure: 0.0yrs
  • Fermín Urtasun Erro

    Chief Executive Officer

    • Tenure: 0.0yrs
  • Jose Maria Reparaz Abaitua

    Human Resource Director

    • Tenure: 0.0yrs
  • Luis Gonzalez Gutierrez

    Finance Director

    • Tenure: 0.0yrs
  • Francisco Fortin Alvarez

    Treasury Director

    • Tenure: 0.0yrs
  • Carlos Avello Iturriagagoitia

    Senior Manager

    • Tenure: 0.0yrs

Board Members

  • Martín María González del Valle Chávarri

    External Director

    • Tenure: 14.2yrs
  • Jesús Alberdi Areízaga

    Non-Executive Independent Director

    • Tenure: 5.3yrs
  • Néstor Basterra Larroude (61yo)

    Vice Chairman

    • Tenure: 0.0yrs
  • Iñigo Echevarría Canales

    Chairman

    • Tenure: 9.7yrs
  • Iñaki Usandizaga Aranzadi

    Non-Executive Director

    • Tenure: 21.8yrs
  • María Luisa Guibert Ucín

    Non-Executive Independent Director

    • Tenure: 9.2yrs
  • Gabriel Sansinenea Urbistondo

    Non-Executive Independent Director

    • Tenure: 9.2yrs
  • Iñaki Martínez Peñalba

    Non-Executive Independent Director

    • Tenure: 7.2yrs

Company Information

Iberpapel Gestión, S.A.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Iberpapel Gestión, S.A.
  • Ticker: IBG
  • Exchange: BST
  • Founded: 1935
  • Industry: Paper Products
  • Sector: Materials
  • Market Cap: €302.374m
  • Shares outstanding: 10.92m
  • Website: https://www.iberpapel.es

Number of Employees


Location

  • Iberpapel Gestión, S.A.
  • Avenida de Sancho El Sabio, 2 - 1º
  • San Sebastián
  • Basque Country
  • 20010
  • Spain

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
IBGBME (Bolsas y Mercados Espanoles)YesOrdinary SharesESEURDec 1997
IBGBST (Boerse-Stuttgart)YesOrdinary SharesDEEURDec 1997
IBGEBATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary SharesGBEURDec 1997

Biography

Iberpapel Gestión, S.A., together with its subsidiaries, manufactures, sells, and exports writing and printing paper in Spain and internationally. The company operates through Paper, Gas-fired Electricity  ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/08/24 20:53
End of Day Share Price2019/08/23 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


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.