HLSE:ALTIA

Stock Analysis Report

NOT FOR DISTRIBUTION
Header cover image

Executive Summary

Altia Oyj produces, imports, markets, distributes, and sells alcoholic beverages in the Nordic and Baltic countries. More Details


Snowflake Analysis

Undervalued with reasonable growth potential.


Similar Companies

Share Price & News

How has Altia Oyj's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: ALTIA is less volatile than 75% of Finnish stocks over the past 3 months, typically moving +/- 2% a week.

Volatility Over Time: ALTIA's weekly volatility (2%) has been stable over the past year.


Market Performance


7 Day Return

-0.9%

ALTIA

3.2%

FI Beverage

-1.4%

FI Market


1 Year Return

47.5%

ALTIA

14.4%

FI Beverage

29.3%

FI Market

Return vs Industry: ALTIA exceeded the Finnish Beverage industry which returned 5.1% over the past year.

Return vs Market: ALTIA exceeded the Finnish Market which returned 18.5% over the past year.


Shareholder returns

ALTIAIndustryMarket
7 Day-0.9%3.2%-1.4%
30 Day0.4%-1.9%-1.4%
90 Day13.6%-1.8%3.1%
1 Year54.7%47.5%16.3%14.4%38.8%29.3%
3 Yearn/a-5.9%-11.0%31.2%8.2%
5 Yearn/a3.3%-6.5%72.1%34.0%

Long-Term Price Volatility Vs. Market

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


Simply Wall St News

Valuation

Is Altia Oyj undervalued compared to its fair value and its price relative to the market?

35.8%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: ALTIA (€11.08) is trading below our estimate of fair value (€17.26)

Significantly Below Fair Value: ALTIA is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: ALTIA is good value based on its PE Ratio (22.5x) compared to the XE Beverage industry average (24x).

PE vs Market: ALTIA is good value based on its PE Ratio (22.5x) compared to the Finnish market (27.7x).


Price to Earnings Growth Ratio

PEG Ratio: ALTIA is good value based on its PEG Ratio (0.7x)


Price to Book Ratio

PB vs Industry: ALTIA is overvalued based on its PB Ratio (2.6x) compared to the XE Beverage industry average (2.4x).


Next Steps

Future Growth

How is Altia Oyj forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

31.1%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: ALTIA's forecast earnings growth (31.1% per year) is above the savings rate (0.3%).

Earnings vs Market: ALTIA's earnings (31.1% per year) are forecast to grow faster than the Finnish market (19.5% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: ALTIA's revenue (16.3% per year) is forecast to grow faster than the Finnish market (3.8% per year).

High Growth Revenue: ALTIA's revenue (16.3% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: ALTIA's Return on Equity is forecast to be low in 3 years time (15.8%).


Next Steps

Past Performance

How has Altia Oyj performed over the past 5 years?

-4.7%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: ALTIA has high quality earnings.

Growing Profit Margin: ALTIA's current net profit margins (5.2%) are higher than last year (5.1%).


Past Earnings Growth Analysis

Earnings Trend: ALTIA's earnings have declined by 4.7% per year over the past 5 years.

Accelerating Growth: ALTIA's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: ALTIA had negative earnings growth (-3.4%) over the past year, making it difficult to compare to the Beverage industry average (-9%).


Return on Equity

High ROE: ALTIA's Return on Equity (11.4%) is considered low.


Next Steps

Financial Health

How is Altia Oyj's financial position?


Financial Position Analysis

Short Term Liabilities: ALTIA's short term assets (€272.4M) exceed its short term liabilities (€204.8M).

Long Term Liabilities: ALTIA's short term assets (€272.4M) exceed its long term liabilities (€94.5M).


Debt to Equity History and Analysis

Debt Level: ALTIA's debt to equity ratio (74.9%) is considered high.

Reducing Debt: ALTIA's debt to equity ratio has increased from 56.9% to 74.9% over the past 5 years.

Debt Coverage: ALTIA's debt is well covered by operating cash flow (47.9%).

Interest Coverage: ALTIA's interest payments on its debt are well covered by EBIT (18.4x coverage).


Balance Sheet


Next Steps

Dividend

What is Altia Oyj current dividend yield, its reliability and sustainability?

3.16%

Current Dividend Yield


Upcoming Dividend Payment


Dividend Yield vs Market

Notable Dividend: ALTIA's dividend (3.16%) is higher than the bottom 25% of dividend payers in the Finnish market (1.86%).

High Dividend: ALTIA's dividend (3.16%) is low compared to the top 25% of dividend payers in the Finnish market (3.95%).


Stability and Growth of Payments

Stable Dividend: ALTIA has been paying a dividend for less than 10 years and during this time payments have been volatile.

Growing Dividend: ALTIA has only been paying a dividend for 2 years, and since then payments have fallen.


Current Payout to Shareholders

Dividend Coverage: With its reasonable payout ratio (71.1%), ALTIA's dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: ALTIA's dividends in 3 years are forecast to be covered by earnings (55.7% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

5.0yrs

Average management tenure


CEO

Veli Pekka Tennilä (51 yo)

6.75yrs

Tenure

€337,737

Compensation

Mr. Veli Pekka Tennilä has been the Chief Executive Officer at Altia Oyj since June 01, 2014. Mr. Tennilä has been Chief Executive Officer of A/S Aldaris since October 1, 2011 and serves as its Chairman. M...


CEO Compensation Analysis

Compensation vs Market: Veli Pekka's total compensation ($USD402.36K) is about average for companies of similar size in the Finnish market ($USD565.28K).

Compensation vs Earnings: Veli Pekka's compensation has been consistent with company performance over the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Veli Pekka Tennilä
Chief Executive Officer6.75yrs€337.74k0.090%
€ 358.6k
Juhana Jokinen
Interim Chief Financial Officer1.17yrsno datano data
Matti Nurmi
Chief Information Officer1.25yrsno datano data
Tua Stenius-Örnhjelmin
Investor Relations Managerno datano datano data
Thomas Heinonen
General Counsel7.5yrsno datano data
Petra Gräsbeck
Director of Corporate Relations & Communicationsno datano datano data
Kirsi Puntila
Senior Vice President of Marketing4.67yrsno data0.018%
€ 73.3k
Kirsi Lehtola
Senior Vice President of Human Resources4.92yrsno data0.014%
€ 56.1k
Kari Kilpinen
Senior Vice President of Finland & Exports3.5yrsno data0.030%
€ 119.4k
Hannu Tuominen
Senior Vice President of Altia Industrial13.17yrsno data0.027%
€ 105.6k
Janne Halttunen
Senior Vice President of Scandinavia5.58yrsno data0.026%
€ 102.3k
Pontus Forth
Development Director of Partner Business5.08yrsno datano data

5.0yrs

Average Tenure

51yo

Average Age

Experienced Management: ALTIA's management team is seasoned and experienced (5 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Sanna Suvanto-Harsaae
Independent Chairman of the Board5.92yrs€71.18k0.011%
€ 43.0k
Jukka Ohtola
Independent Director3.08yrs€29.93kno data
Torsten Steenholt
Independent Director3.25yrs€33.53k0.0035%
€ 13.8k
Tiina Lencioni
Independent Director4yrs€32.93k0.0012%
€ 4.7k
Anette Rosengren
Independent Director1.83yrs€22.20k0.0033%
€ 13.2k
Jyrki Mäki-Kala
Independent Vice Chairman of the Board0.75yrno data0.0034%
€ 13.6k
Jukka Leinonen
Independent Director0.75yrno datano data

3.1yrs

Average Tenure

54yo

Average Age

Experienced Board: ALTIA's board of directors are considered experienced (3.1 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

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


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Altia Oyj's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Altia Oyj
  • Ticker: ALTIA
  • Exchange: HLSE
  • Founded: 1888
  • Industry: Distillers and Vintners
  • Sector: Food, Beverage & Tobacco
  • Market Cap: €397.545m
  • Shares outstanding: 36.14m
  • Website: https://www.altiagroup.com

Number of Employees


Location

  • Altia Oyj
  • Kaapeliaukio 1
  • Helsinki
  • Uusimaa
  • 180
  • Finland

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
ALTIAHLSE (OMX Nordic Exchange Helsinki)YesCommon StockFIEURMar 2018
ALTIAHBATS-CHIXE (BATS 'Chi-X Europe')YesCommon StockGBEURMar 2018
28QDB (Deutsche Boerse AG)YesCommon StockDEEURMar 2018

Biography

Altia Oyj produces, imports, markets, distributes, and sells alcoholic beverages in the Nordic and Baltic countries. It offers wines, spirits, and other beverages; and barley starch, grain sprits, technica...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/03/08 19:05
End of Day Share Price2021/03/08 00:00
Earnings2020/12/31
Annual Earnings2020/12/31


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.