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Zignago Vetro

DB:ZVB
Snowflake Description

Excellent balance sheet with solid track record and pays a dividend.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
ZVB
DB
€851M
Market Cap
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Last updated 2019/02/18 21:46
Company description

Zignago Vetro S.p.A., together with its subsidiaries, produces and markets hollow glass containers for food and beverage, cosmetics, perfumery, and specialty glass markets in Italy, rest of Europe, and internationally. The last earnings update was 98 days ago. More info.

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ZVB Share Price and Events
7 Day Returns
4.9%
DB:ZVB
4.6%
Europe Packaging
2.9%
DE Market
1 Year Returns
18.4%
DB:ZVB
-8.6%
Europe Packaging
-12.1%
DE Market
ZVB Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Zignago Vetro (ZVB) 4.9% 7.2% 11.2% 18.4% 83.6% 82.2%
Europe Packaging 4.6% 4.9% 5% -8.6% 16.9% 39.9%
DE Market 2.9% 0.8% 0.2% -12.1% 11.8% 4.9%
1 Year Return vs Industry and Market
  • ZVB outperformed the Packaging industry which returned -8.6% over the past year.
  • ZVB outperformed the Market in Germany which returned -12.1% over the past year.
Price Volatility
ZVB
Industry
5yr Volatility vs Market

Value

 Is Zignago Vetro 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 Zignago Vetro 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 Zignago Vetro.

DB:ZVB 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%
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:ZVB
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 9.8%
Packaging Unlevered Beta Simply Wall St/ S&P Global 0.63
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.632 (1 + (1- 24%) (22.8%)) 		0.741
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)		 0.8
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (0.8 * 9.77%) 		8.05%

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

The calculations below outline how an intrinsic value for Zignago Vetro 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.

DB:ZVB DCF 1st Stage: Next 5 year cash flow forecast
2019 2020 2021 2022 2023
Levered FCF (EUR, Millions) 49.23 69.00 71.90 74.93 78.08
Source Analyst x3 Analyst x1 Est @ 4.21% Est @ 4.21% Est @ 4.21%
Present Value
Discounted (@ 8.05%) 		45.57 59.11 57.01 54.98 53.03
Present value of next 5 years cash flows €269.69
DB:ZVB DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2023 × (1 + g) ÷ (Discount Rate – g)
= €78.08 × (1 + 0.23%) ÷ (8.05% – 0.23%) 		€1,001.02
Present Value of Terminal Value = Terminal Value ÷ (1 + r)5
= €1,001.02 ÷ (1 + 8.05%)5 		€679.84
DB:ZVB Total Equity Value
Calculation Result
Total Equity Value = Present value of next 5 years cash flows + Terminal Value
= €269.69 + €679.84 		€949.53
Equity Value per Share
(EUR)		 = Total value / Shares Outstanding
= €949.53 / 87.69 		€10.79
DB:ZVB Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:ZVB represents 0.9969x of BIT:ZV
(This could be a different class, a depositary receipt, a different currency, or all of these things.) 		0.9969x
Value per Share
(Listing Adjusted, EUR)		 = Value per Share (EUR) x Listing Adjustment Factor
= € 10.83 x 0.9969 		€10.79
Value per share (EUR) From above. €10.79
Current discount Discount to share price of €9.65
= -1 x (€9.65 - €10.79) / €10.79 		10.6%

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

Current Discount
Amount off the current price Zignago Vetro is available for.
Intrinsic value
11%
Share price is €9.65 vs Future cash flow value of €10.79
Current Discount Checks
For Zignago Vetro to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Zignago Vetro's share price is below the future cash flow value, but not at a moderate discount (< 20%).
  • Zignago Vetro'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 Zignago Vetro's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Zignago Vetro's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:ZVB PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-09-30) in EUR €0.52
BIT:ZV Share Price ** BIT (2019-02-18) in EUR €9.68
Europe Packaging Industry PE Ratio Median Figure of 31 Publicly-Listed Packaging Companies 15.52x
Germany Market PE Ratio Median Figure of 420 Publicly-Listed Companies 18.16x

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

** Primary Listing of Zignago Vetro.

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

= BIT:ZV Share Price ÷ EPS (both in EUR)

= 9.68 ÷ 0.52

 18.46x

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

  • Zignago Vetro is overvalued based on earnings compared to the Europe Packaging industry average.
  • Zignago Vetro is overvalued based on earnings compared to the Germany market.
Price based on expected Growth
Does Zignago Vetro's expected growth come at a high price?
Raw Data
DB:ZVB PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 18.46x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts		 9.2%per year
Europe Packaging Industry PEG Ratio Median Figure of 16 Publicly-Listed Packaging Companies 1.32x
Germany Market PEG Ratio Median Figure of 277 Publicly-Listed Companies 1.39x

*Line of best fit is calculated by linear regression .

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

= PE Ratio ÷ Net Income Annual Growth Rate

= 18.46x ÷ 9.2%

 2.01x

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

  • Zignago Vetro is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Zignago Vetro's assets?
Raw Data
DB:ZVB PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-09-30) in EUR €2.19
BIT:ZV Share Price * BIT (2019-02-18) in EUR €9.68
Europe Packaging Industry PB Ratio Median Figure of 36 Publicly-Listed Packaging Companies 1.66x
Germany Market PB Ratio Median Figure of 566 Publicly-Listed Companies 1.79x
DB:ZVB PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= BIT:ZV Share Price ÷ Book Value per Share (both in EUR)

= 9.68 ÷ 2.19

 4.41x

* Primary Listing of Zignago Vetro.

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

  • Zignago Vetro is overvalued based on assets compared to the Europe Packaging industry average.
X
Value checks
We assess Zignago Vetro'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 Packaging 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 Packaging industry average (and greater than 0)? (1 check)
    5. Zignago Vetro 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 Zignago Vetro 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
9.2%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Zignago Vetro expected to grow at an attractive rate?
  • Zignago Vetro's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • Zignago Vetro's earnings growth is positive but not above the Germany market average.
  • Zignago Vetro's revenue growth is expected to exceed the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:ZVB Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:ZVB Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts 9.2%
DB:ZVB Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 3 Analysts 10.8%
Europe Packaging Industry Earnings Growth Rate Market Cap Weighted Average 25.6%
Europe Packaging Industry Revenue Growth Rate Market Cap Weighted Average 4.3%
Germany Market Earnings Growth Rate Market Cap Weighted Average 9.7%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4.7%

*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:ZVB Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (4 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.
DB:ZVB Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 456 1
2020-12-31 436 102 57 1
2019-12-31 395 87 46 3
2018-12-31 372 87 45 1
DB:ZVB Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2018-09-30 294 68 46
2018-06-30 286 70 42
2018-03-31 279 59 42
2017-12-31 270 56 40
2017-09-30 254 57 38
2017-06-30 254 50 37
2017-03-31 252 56 33
2016-12-31 252 51 31
2016-09-30 253 53 29
2016-06-30 253 54 28
2016-03-31 249 57 30
2015-12-31 246 48 29

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Zignago Vetro's earnings are expected to grow by 9.2% yearly, however this is not considered high growth (20% yearly).
  • Zignago Vetro's revenue is expected to grow by 10.8% 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:ZVB Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below

All data from Zignago Vetro Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:ZVB Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31
2020-12-31 0.65 0.65 0.65 1.00
2019-12-31 0.53 0.56 0.48 3.00
2018-12-31 0.51 0.51 0.51 1.00
DB:ZVB Past Financials Data
Date (Data in EUR Millions) EPS *
2018-09-30 0.52
2018-06-30 0.48
2018-03-31 0.48
2017-12-31 0.46
2017-09-30 0.44
2017-06-30 0.42
2017-03-31 0.38
2016-12-31 0.36
2016-09-30 0.33
2016-06-30 0.33
2016-03-31 0.34
2015-12-31 0.34

*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.
  • Zignago Vetro is expected to efficiently use shareholders’ funds in the future (Return on Equity greater than 20%).
Show me more growth companies in the Packaging industry
X
Future performance checks
We assess Zignago Vetro'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.
Zignago Vetro 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 Zignago Vetro 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 Zignago Vetro's growth in the last year to its industry (Packaging).
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.
  • Zignago Vetro's year on year earnings growth rate has been positive over the past 5 years.
  • Zignago Vetro's 1-year earnings growth exceeds its 5-year average (20.5% vs 12.5%)
  • Zignago Vetro's earnings growth has exceeded the Europe Packaging industry average in the past year (20.5% vs 6.8%).
Earnings and Revenue History
Zignago Vetro'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 Zignago Vetro Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:ZVB Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-09-30 293.66 45.56 68.04
2018-06-30 285.55 41.71 66.76
2018-03-31 279.20 42.01 65.53
2017-12-31 269.54 39.87 63.98
2017-09-30 253.94 37.80 59.86
2017-06-30 253.53 36.78 59.48
2017-03-31 252.23 32.74 58.39
2016-12-31 252.09 31.19 58.07
2016-09-30 252.94 28.65 58.78
2016-06-30 252.51 28.48 58.14
2016-03-31 249.37 29.73 72.12
2015-12-31 246.37 29.05 57.12
2015-09-30 241.40 26.86 1.68
2015-06-30 238.11 25.50 29.06
2015-03-31 236.51 24.21 0.13
2014-12-31 231.54 23.84 0.13
2014-09-30 233.61 25.14 0.34
2014-06-30 234.09 25.55 0.14
2014-03-31 229.55 26.44 -13.95
2013-12-31 228.22 26.13 0.14
2013-09-30 243.67 26.88 41.00
2013-06-30 257.43 26.99
2013-03-31 282.93 28.74 14.09
2012-12-31 298.75 30.88
2012-09-30 297.89 31.22
2012-06-30 295.90 33.71 -31.69
2012-03-31 296.19 35.69

*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.
  • Whilst Zignago Vetro has efficiently used shareholders’ funds last year (Return on Equity greater than 20%), this is metric is skewed due to its high level of debt.
  • Zignago Vetro used its assets more efficiently than the Europe Packaging industry average last year based on Return on Assets.
  • Zignago Vetro has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
Show me more strong past performing companies in the Packaging industry
X
Past performance checks
We assess Zignago Vetro'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 Packaging 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.
Zignago Vetro has a total score of 5/6, 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 Zignago Vetro'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 Zignago Vetro's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Zignago Vetro is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Zignago Vetro's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Zignago Vetro'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 1.1x 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 Zignago Vetro Company Filings, last reported 4 months ago.

DB:ZVB Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2018-09-30 185.77 193.92 45.94
2018-06-30 174.43 190.69 39.23
2018-03-31 193.08 198.56 63.04
2017-12-31 177.07 184.85 31.69
2017-09-30 161.14 165.71 28.29
2017-06-30 152.70 165.66 18.13
2017-03-31 163.93 181.58 58.91
2016-12-31 155.52 183.85 59.36
2016-09-30 144.18 203.12 91.60
2016-06-30 137.75 197.10 79.18
2016-03-31 151.75 208.12 102.69
2015-12-31 145.63 210.81 100.06
2015-09-30 135.87 200.65 93.84
2015-06-30 129.88 207.20 103.00
2015-03-31 139.85 199.35 103.78
2014-12-31 133.77 172.01 89.78
2014-09-30 126.84 115.33 40.99
2014-06-30 122.07 118.92 40.67
2014-03-31 134.60 107.29 38.45
2013-12-31 129.62 112.33 39.27
2013-09-30 120.73 145.27 41.57
2013-06-30 115.21 153.27 43.15
2013-03-31 129.94 129.70 37.33
2012-12-31 125.48 136.09 44.69
2012-09-30 116.18 123.33 35.62
2012-06-30 110.49 131.50 35.29
2012-03-31 126.01 114.87 42.31
  • Zignago Vetro's level of debt (104.4%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (119.9% vs 104.4% today).
  • Debt is well covered by operating cash flow (35%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 15.7x coverage).
Show me more healthy companies in the Packaging industry
X
Financial health checks
We assess Zignago Vetro'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. Zignago Vetro 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 Zignago Vetro'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
3.31%
Current annual income from Zignago Vetro dividends. Estimated to be 4.03% next year.
If you bought €2,000 of Zignago Vetro shares you are expected to receive €66 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?
  • Zignago Vetro's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.53%).
  • Zignago Vetro's dividend is below the markets top 25% of dividend payers in Germany (3.96%).
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:ZVB 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 Packaging Industry Average Dividend Yield Market Cap Weighted Average of 23 Stocks 3.1%
Germany Market Average Dividend Yield Market Cap Weighted Average of 332 Stocks 3%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.9%
Germany Bottom 25% Dividend Yield 25th Percentile 1.5%
Germany Top 25% Dividend Yield 75th Percentile 4%

Industry and Market average data is calculated daily.

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

DB:ZVB Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2021-12-31
2020-12-31 0.45 1.00
2019-12-31 0.37 3.00
2018-12-31 0.36 1.00
DB:ZVB Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2018-03-15 0.320 3.818
2017-04-03 0.252 3.236
2017-03-15 0.252 3.627
2016-03-30 0.235 4.231
2016-03-11 0.235 4.130
2015-03-13 0.200 3.639
2014-03-28 0.220 4.056
2014-03-13 0.220 3.875
2013-03-11 0.250 5.230
2012-07-26 0.282 6.120
2012-03-28 0.282 6.062
2012-03-14 0.282 5.981
2011-04-28 0.273 6.089
2010-03-16 0.221 5.241
2009-03-16 0.268 7.969
2009-02-19 0.198 6.135

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

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Zignago Vetro's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.6x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.4x coverage).
Show me more dividend paying companies in the Packaging industry
X
Income/ dividend checks
We assess Zignago Vetro's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.9%) - 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 Zignago Vetro afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
    7. Zignago Vetro has a total score of 5/6, 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 Zignago Vetro'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
Paolo Giacobbo
COMPENSATION €525,455
AGE 69
TENURE AS CEO 7.8 years
CEO Bio

Engineer Paolo Giacobbo has been the Chief Executive Officer of Zignago Vetro S.p.A. since April 28, 2011 and serves as its Chairman. Engineer Giacobbo has been Executive Director of Zignago Vetro S.p.A. since April 29, 2010. Engineer Giacobbo served as Senior Corporate Executive Vice President for investment, production, quality, technology, engineering and R&D. Since June 2009 he has been president of the European Glass Industry Confederation (CPIV) in Brussels. He serves as Chairman of Verreries Brosse S.A.S. He served as an Independent Director at Zignago Vetro S.p.A. since 2010. After his military service as an officer in the Alpine division, he began working in the hollow glass industry in 1974 (Vetrerie Italiane) as a production engineer. He graduated in Engineering from the University of Padua in 1972.

CEO Compensation
  • Paolo's compensation has been consistent with company performance over the past year.
  • Paolo's remuneration is lower than average for companies of similar size in Germany.
Management Team

Paolo Giacobbo

TITLE
Chairman & CEO
COMPENSATION
€525K
AGE
69
TENURE
7.8 yrs

Roberto Celot

TITLE
CFO & Investor Relations Manager

Giorgio Mazzer

TITLE
Chief Executive Officer of Vetri Speciali SpA

Ovidio Dri

TITLE
Industrial Director and Deputy General Manager
COMPENSATION
€203K
Board of Directors Tenure

Average tenure and age of the Zignago Vetro board of directors in years:

11.9
Average Tenure
61
Average Age
  • The average tenure for the Zignago Vetro board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

Paolo Giacobbo

TITLE
Chairman & CEO
COMPENSATION
€525K
AGE
69

Nicolò Marzotto

TITLE
Deputy Chairman
COMPENSATION
€36K
AGE
50

Vitaliano Torno

TITLE
Vice Chairman of Vetri Speciali SpA
AGE
59

Manuela Pasetti

TITLE
Director
COMPENSATION
€24K
AGE
75
TENURE
5.8 yrs

Alessia Antonelli

TITLE
Independent Director
AGE
47

Alberta Gervasio

TITLE
Chairman of Statutory Auditors Board
AGE
53

Franco Moscetti

TITLE
Lead Director
AGE
67

Franco Grisan

TITLE
Director
COMPENSATION
€214K
AGE
76
TENURE
25.5 yrs

Stefano Marzotto

TITLE
Non-Executive Director
COMPENSATION
€36K
AGE
63
TENURE
11.9 yrs

Luca Marzotto

TITLE
Non-Executive Director
COMPENSATION
€36K
AGE
47
TENURE
11.9 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 Zignago Vetro'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. Zignago Vetro 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

Map
Description

Zignago Vetro S.p.A., together with its subsidiaries, produces and markets hollow glass containers for food and beverage, cosmetics, perfumery, and specialty glass markets in Italy, rest of Europe, and internationally. The company offers containers, such as bottles for fragrances, nail varnishes, and skin care and cream jars; jars for baby-food; specialty containers for wine, vinegar, olive oils, distillates, and liquors; and customized glass containers. It also engages in the glass recycling activities that include treatment and sale of recycled glass. The company is based in Fossalta di Portogruaro, Italy. Zignago Vetro S.p.A. is a subsidiary of Zignago Holding S.p.A.

Details
Name: Zignago Vetro S.p.A.
ZVB
Exchange: DB
Founded:
€850,602,942
87,691,025
Website: http://www.gruppozignagovetro.com
Address: Zignago Vetro S.p.A.
Via Ita Marzotto 8,
Fossalta di Portogruaro,
Venice, 30025,
Italy
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
BIT ZV Common Stock Borsa Italiana IT EUR 06. Jun 2007
DB ZVB Common Stock Deutsche Boerse AG DE EUR 06. Jun 2007
LSE 0NNC Common Stock London Stock Exchange GB EUR 06. Jun 2007
BATS-CHIXE ZVM Common Stock BATS 'Chi-X Europe' GB EUR 06. Jun 2007
Number of employees
Current staff
Staff numbers
2,346
Zignago Vetro employees.
Industry
Metal and Glass Containers
Materials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/02/18 21:46
End of day share price update: 2019/02/18 00:00
Last estimates confirmation: 2018/11/27
Last earnings filing: 2018/11/12
Last earnings reported: 2018/09/30
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.

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