CPSE:SPG

Stock Analysis Report

Executive Summary

SP Group A/S manufactures and supplies moulded plastic components and coatings primarily in Denmark and other European countries, the Americas, Asia, Australia, and Africa.

Snowflake

Fundamentals

Solid track record with reasonable growth potential.

Risks

  • SP Group is covered by less than 3 analysts.

Share Price & News

How has SP Group's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

4.1%

CPSE:SPG

-1.4%

DK Chemicals

0.9%

DK Market


1 Year Return

11.0%

CPSE:SPG

-12.6%

DK Chemicals

3.5%

DK Market

SPG outperformed the Chemicals industry which returned -12.6% over the past year.

SPG outperformed the Market in Denmark which returned 3.5% over the past year.


Share holder returns

SPGIndustryMarket
7 Day4.1%-1.4%0.9%
30 Day-3.4%-4.4%1.7%
90 Day7.1%-3.9%2.3%
1 Year12.2%11.0%-9.1%-12.6%6.6%3.5%
3 Year89.5%84.8%18.4%7.6%29.8%19.2%
5 Year457.9%431.3%35.0%15.0%65.8%41.5%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

18%

Discount to future cash flow value


Intrinsic Value Based on Future Cash Flows

SP Group's share price is below the future cash flow value, but not at a moderate discount (< 20%).

SP Group's share price is below the future cash flow value, but not at a substantial discount (< 40%).


Price Based on Earnings

SP Group is good value based on earnings compared to the Europe Chemicals industry average.

SP Group is overvalued based on earnings compared to the Denmark market.


Price Based on Expected Growth

SP Group is poor value based on expected growth next year.


Price Based on Value of Assets

SP Group is overvalued based on assets compared to the Europe Chemicals industry average.


Next Steps

Future Growth

How is SP Group expected to perform in the next 1 to 3 years based on estimates from 1 analyst?

15.6%

Forecasted annual earnings growth


Earnings and Revenue Growth Estimates


Future Annual Growth Analysis

SP Group's revenue is expected to grow by 13.2% yearly, however this is not considered high growth (20% yearly).

SP Group's earnings are expected to grow by 15.6% yearly, however this is not considered high growth (20% yearly).

SP Group's revenue growth is expected to exceed the Denmark market average.

SP Group's earnings growth is expected to exceed the Denmark market average.

SP Group's earnings growth is expected to exceed the low risk savings rate of 0.2%.


Earnings per Share Growth Estimates


Future Return on Equity

SP Group is expected to efficiently use shareholders’ funds in the future (Return on Equity greater than 20%).


Next Steps

Past Performance

How has SP Group performed over the past 5 years?

30.7%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

SP Group has delivered over 20% year on year earnings growth in the past 5 years.

SP Group's 1-year earnings growth is less than its 5-year average (23.6% vs 30.7%)

SP Group's earnings growth has exceeded the Europe Chemicals industry average in the past year (23.6% vs 1.4%).


Return on Equity

SP Group has efficiently used shareholders’ funds last year (Return on Equity greater than 20%).


Return on Assets

SP Group used its assets more efficiently than the Europe Chemicals industry average last year based on Return on Assets.


Return on Capital Employed

SP Group has improved its use of capital last year versus 3 years ago (Return on Capital Employed).


Next Steps

Financial Health

How is SP Group's financial position?


Financial Position Analysis

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

SP Group's cash and other short term assets cover its long term commitments.


Debt to Equity History and Analysis

SP Group's level of debt (78.3%) compared to net worth is high (greater than 40%).

The level of debt compared to net worth has increased over the past 5 years (76.1% vs 78.3% today).

Debt is well covered by operating cash flow (37.6%, greater than 20% of total debt).

Interest payments on debt are well covered by earnings (EBIT is 13.5x coverage).


Balance Sheet

High level of physical assets or inventory.

Debt is covered by short term assets, assets are 1.4x debt.


Next Steps

Dividend

What is SP Group's current dividend yield, its reliability and sustainability?

1.23%

Expected Dividend Yield


Dividend Yield and Payments Analysis

SP Group's pays a lower dividend yield than the bottom 25% of dividend payers in Denmark (1.74%).

SP Group's dividend is below the markets top 25% of dividend payers in Denmark (4.92%).

SP Group is not paying a notable dividend for Denmark, therefore no need to check if the payments are stable.

SP Group is not paying a notable dividend for Denmark, therefore no need to check if the payments are increasing.


Current Payout to Shareholders

No need to calculate the sustainability of SP Group's dividends as it is not paying a notable one for Denmark.


Future Payout to Shareholders

Dividends after 3 years are expected to be well covered by earnings (6.1x coverage).


Next Steps

Management

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

1.6yrs

Average management tenure


CEO

Frank Gad (59yo)

14.8yrs

Tenure

ø5,119,000

Compensation

Mr. Frank Gad has been the Chief Executive Officer for SP Group A/S since November 2004 and serves as its Member of Executive Board. Mr. Gad was Chief Executive Officer of SP Moulding A/S until June 2019.  ...


CEO Compensation Analysis

Frank's remuneration is about average for companies of similar size in Denmark.

Frank's compensation has been consistent with company performance over the past year, both up more than 20%.


Management Age and Tenure

1.6yrs

Average Tenure

The average tenure for the SP Group management team is less than 2 years, this suggests a new team.


Board Age and Tenure

4.3yrs

Average Tenure

59yo

Average Age

The tenure for the SP Group board of directors is about average.


Insider Trading

No 3 month open market individual insider trading information.


Ownership Breakdown


Management Team

  • Frank Gad (59yo)

    CEO & Member of Executive Board

    • Tenure: 14.8yrs
    • Compensation: ø5.12m
  • Kenny Rosendahl

    Chief Executive Officer of SP Medical A/S

    • Tenure: 1.6yrs
  • Jørgen Nielsen (63yo)

    CFO & Member of Executive Board

    • Tenure: 0.0yrs
    • Compensation: ø1.95m
  • Adam Czyzynski

    Managing Director of Tinby Sp. z o.o. - Poland

    • Tenure: 0.0yrs
  • Jan Sørensen

    Managing Director of SP Moulding (Suzhou) Co Ltd - China

    • Tenure: 0.0yrs
  • Claus Lendal

    Chief Executive Officer of Ergomat A/S

    • Tenure: 1.6yrs
  • Jens Møller

    Managing Director of Kodan Plast s.r.o. - Slovakia

    • Tenure: 0.0yrs
  • Torben Nielsen

    Managing Director of Tinby A/S

    • Tenure: 0.0yrs
  • Lars Bering

    Managing Director of Gibo Plast A/S & VP of Business Development

    • Tenure: 1.6yrs
  • Susie-Ann Spiegelhauer

    CEO of Accoat A/S

    • Tenure: 0.3yrs

Board Members

  • Erik Holm (59yo)

    Deputy Chairman

    • Tenure: 0.0yrs
    • Compensation: ø275.00k
  • Niels Agner (76yo)

    Director

    • Tenure: 24.6yrs
    • Compensation: ø300.00k
  • Bente Overgaard (55yo)

    Director

    • Tenure: 2.3yrs
    • Compensation: ø225.00k
  • Hans Schur (68yo)

    Chairman

    • Tenure: 1.3yrs
    • Compensation: ø375.00k
  • Hans-Henrik Eriksen (59yo)

    Director

    • Tenure: 6.3yrs
    • Compensation: ø275.00k

Company Information

SP Group A/S's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: SP Group A/S
  • Ticker: SPG
  • Exchange: CPSE
  • Founded: 1972
  • Industry: Commodity Chemicals
  • Sector: Materials
  • Market Cap: ø2.849b
  • Shares outstanding: 11.17m
  • Website: https://www.sp-group.dk

Number of Employees


Location

  • SP Group A/S
  • Snavevej 6-10
  • Søndersø
  • Region of Southern Denmark
  • 5471
  • Denmark

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
SPGCPSE (OMX Nordic Exchange Copenhagen)YesShare CapitalDKDKKJul 1992
SPGCBATS-CHIXE (BATS 'Chi-X Europe')DKK2.00GBDKKMay 2018

Biography

SP Group A/S manufactures and supplies moulded plastic components and coatings primarily in Denmark and other European countries, the Americas, Asia, Australia, and Africa. The company operates through Coa ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/08/21 20:40
End of Day Share Price2019/08/21 00:00
Earnings2019/03/31
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.