BME: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 with acceptable track record.

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

-1.5%

IBG

1.0%

ES Forestry

0.5%

ES Market


1 Year Return

-21.1%

IBG

-10.4%

ES Forestry

4.6%

ES Market

Return vs Industry: IBG underperformed the Spanish Forestry industry which returned -10.4% over the past year.

Return vs Market: IBG underperformed the Spanish Market which returned 4.6% over the past year.


Shareholder returns

IBGIndustryMarket
7 Day-1.5%1.0%0.5%
30 Day-5.6%3.5%1.6%
90 Day-3.4%13.6%0.4%
1 Year-19.6%-21.1%-6.3%-10.4%8.1%4.6%
3 Year40.1%33.6%51.7%0.6%13.6%3.1%
5 Year143.8%120.4%132.1%47.2%9.0%-11.5%

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

Valuation

Is Iberpapel Gestión undervalued compared to its fair value and its price relative to the market?

10.53x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Undervalued: IBG (€25.5) is trading above our estimate of fair value (€8.23)

Significantly Undervalued: IBG is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: IBG is poor value based on its PE Ratio (10.5x) compared to the Forestry industry average (10.5x).

PE vs Market: IBG is good value based on its PE Ratio (10.5x) compared to the Spanish market (16.6x).


Price to Earnings Growth Ratio

Low PEG Ratio: IBG's earnings are forecast to decline next year, so we can't calculate its PEG ratio.


Price to Book Ratio

PB vs Industry: IBG is good value based on its PB Ratio (1.1x) compared to the XE Forestry industry average (1.2x).


Next Steps

Future Growth

How is Iberpapel Gestión forecast 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 Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: IBG's earnings are forecast to decline over the next 3 years (-5.1% per year).

Earnings vs Market: IBG's earnings are forecast to decline over the next 3 years (-5.1% per year).

High Growth Earnings: IBG's earnings are forecast to decline over the next 3 years.

Revenue vs Market: IBG's revenue (9.2% per year) is forecast to grow faster than the Spanish market (3.7% per year).

High Growth Revenue: IBG's revenue (9.2% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

High Future ROE: Insufficient data to determine if IBG's Return on Equity is forecast to be high in 3 years time


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

Earnings Trend: IBG's earnings have grown significantly by 24.1% per year over the past 5 years.

Accelerating Growth: IBG's earnings growth over the past year (2.7%) is below its 5-year average (24.1% per year).

Earnings vs Industry: IBG earnings growth over the past year (2.7%) exceeded the Forestry industry 1.2%.


Return on Equity

High ROE: IBG's Return on Equity (9.7%) is considered low.


Return on Assets

ROA vs Industry: IBG has a higher Return on Assets than the Forestry industry average last year.


Return on Capital Employed

ROCE Improving: IBG's Return on Capital Employed has declined over the past 3 years.


Next Steps

Financial Health

How is Iberpapel Gestión's financial position?


Financial Position Analysis

Short Term Liabilities: IBG's short term assets (€230.6M) exceeds its short term liabilities (€50.0M)

Long Term Liabilities: IBG's short term assets (230.6M) exceeds its long term liabilities (74.6M)


Debt to Equity History and Analysis

Debt Level: IBG's debt to equity ratio (27.6%) is considered satisfactory

Reducing Debt: IBG's debt to equity ratio has increased from 1.2% to 27.6% over the past 5 years.

Debt Coverage: IBG's debt is well covered by operating cash flow (46.5%).

Interest Coverage: IBG's interest payments on its debt are well covered by EBIT (28.3x coverage).


Balance Sheet

Inventory Level: IBG has a high level of physical assets or inventory.

Debt Coverage by Assets: IBG's debt is covered by short term assets (assets are 3.168620x debt).


Next Steps

Dividend

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

2.74%

Current Dividend Yield


Dividend Yield vs Market

company2.7%marketbottom25%2.3%markettop25%5.7%industryaverage4.4%forecastin3Years1.9%

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: IBG's dividend (2.75%) is higher than the bottom 25% of dividend payers in the Spanish market (2.31%).

High Dividend: IBG's dividend (2.75%) is low compared to the top 25% of dividend payers in the Spanish market (5.65%).

Stable Dividend: IBG's dividend payments have been volatile in the past 10 years.

Growing Dividend: IBG's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its low payout ratio (12.6%), IBG's dividend payments are thoroughly covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

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

9.3yrs

Average board tenure


CEO

Fermín Urtasun Erro 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

9.3yrs

Average Tenure

Experienced Board: IBG's board of directors are considered experienced (9.3 years average tenure).


Insider Trading

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


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
Independent 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€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
Buy€215 Nov 18
Iñaki Martínez Peñalba
EntityIndividual
Role
Member of the Board of Directors
Non-Executive Independent Director
Shares163
Max Price€0.01

Ownership Breakdown


Management Team

  • Iñigo Echevarría Canales

    Chairman

    • Tenure: 9.8yrs
  • Joaquín Manso Ramón

    Legal Director & Secretary to the Board

    • Tenure: 0yrs
  • Fermín Urtasun Erro

    Chief Executive Officer

    • Tenure: 0yrs
  • Jose Maria Reparaz Abaitua

    Human Resource Director

    • Tenure: 0yrs
  • Luis Gonzalez Gutierrez

    Finance Director

    • Tenure: 0yrs
  • Francisco Fortin Alvarez

    Treasury Director

    • Tenure: 0yrs
  • Carlos Avello Iturriagagoitia

    Senior Manager

    • Tenure: 0yrs

Board Members

  • Martín María González del Valle Chávarri

    External Director

    • Tenure: 14.3yrs
  • Jesús Alberdi Areízaga

    Non-Executive Independent Director

    • Tenure: 5.4yrs
  • Néstor Basterra Larroude (61yo)

    Independent Vice Chairman

    • Tenure: 0yrs
  • Iñigo Echevarría Canales

    Chairman

    • Tenure: 9.8yrs
  • Iñaki Usandizaga Aranzadi

    Non-Executive Director

    • Tenure: 22yrs
  • María Luisa Guibert Ucín

    Non-Executive Independent Director

    • Tenure: 9.3yrs
  • Gabriel Sansinenea Urbistondo

    Non-Executive Independent Director

    • Tenure: 9.3yrs
  • Iñaki Martínez Peñalba

    Non-Executive Independent Director

    • Tenure: 7.3yrs

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: BME
  • Founded: 1935
  • Industry: Paper Products
  • Sector: Materials
  • Market Cap: €278.359m
  • 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 Analysis2019/10/19 20:32
End of Day Share Price2019/10/18 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.