ENXTPA:PIG

Stock Analysis Report

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Executive Summary

Haulotte Group SA, through its subsidiaries, designs, manufactures, and sells people and material lifting equipment.


Snowflake Analysis

Fair value with acceptable track record.


Similar Companies

Share Price & News

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


Latest Share Price and Events

Stable Share Price: PIG has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

9.2%

PIG

2.7%

FR Machinery

3.5%

FR Market


1 Year Return

-43.5%

PIG

-7.1%

FR Machinery

-9.4%

FR Market

Return vs Industry: PIG underperformed the French Machinery industry which returned -7.1% over the past year.

Return vs Market: PIG underperformed the French Market which returned -9.4% over the past year.


Shareholder returns

PIGIndustryMarket
7 Day9.2%2.7%3.5%
30 Day8.2%2.6%4.2%
90 Day5.6%-13.2%-13.7%
1 Year-41.8%-43.5%3.7%-7.1%-7.6%-9.4%
3 Year-69.7%-71.4%12.6%0.2%1.4%-6.9%
5 Year-72.8%-75.1%27.1%12.3%18.8%1.3%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

Is Haulotte Group undervalued compared to its fair value and its price relative to the market?

6.61x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: PIG (€4.35) is trading above our estimate of fair value (€1.72)

Significantly Below Fair Value: PIG is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: PIG is good value based on its PE Ratio (6.6x) compared to the Machinery industry average (11.6x).

PE vs Market: PIG is good value based on its PE Ratio (6.6x) compared to the French market (14.6x).


Price to Earnings Growth Ratio

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


Price to Book Ratio

PB vs Industry: PIG is good value based on its PB Ratio (0.5x) compared to the FR Machinery industry average (1.2x).


Next Steps

Future Growth

How is Haulotte Group forecast to perform in the next 1 to 3 years based on estimates from 7 analysts?

-4.1%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: PIG's earnings are forecast to decline over the next 3 years (-4.1% per year).

Earnings vs Market: PIG's earnings are forecast to decline over the next 3 years (-4.1% per year).

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

Revenue vs Market: PIG's revenue is expected to decline over the next 3 years (-0.9% per year).

High Growth Revenue: PIG's revenue is forecast to decline over the next 3 years (-0.9% per year).


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: PIG's Return on Equity is forecast to be low in 3 years time (4.1%).


Next Steps

Past Performance

How has Haulotte Group performed over the past 5 years?

-10.1%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: PIG has high quality earnings.

Growing Profit Margin: PIG's current net profit margins (3.2%) are lower than last year (3.2%).


Past Earnings Growth Analysis

Earnings Trend: PIG's earnings have declined by -10.1% per year over the past 5 years.

Accelerating Growth: PIG's earnings growth over the past year (8.7%) exceeds its 5-year average (-10.1% per year).

Earnings vs Industry: PIG earnings growth over the past year (8.7%) exceeded the Machinery industry 5.9%.


Return on Equity

High ROE: PIG's Return on Equity (7.4%) is considered low.


Next Steps

Financial Health

How is Haulotte Group's financial position?


Financial Position Analysis

Short Term Liabilities: PIG's short term assets (€371.1M) exceed its short term liabilities (€158.0M).

Long Term Liabilities: PIG's short term assets (€371.1M) exceed its long term liabilities (€161.7M).


Debt to Equity History and Analysis

Debt Level: PIG's debt to equity ratio (67.8%) is considered high.

Reducing Debt: PIG's debt to equity ratio has increased from 46.4% to 67.8% over the past 5 years.

Debt Coverage: PIG's debt is not well covered by operating cash flow (11.4%).

Interest Coverage: PIG's interest payments on its debt are well covered by EBIT (10.9x coverage).


Balance Sheet


Next Steps

Dividend

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

5.06%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: PIG's dividend (5.06%) is higher than the bottom 25% of dividend payers in the French market (1.79%).

High Dividend: PIG's dividend (5.06%) is low compared to the top 25% of dividend payers in the French market (5.2%).


Stability and Growth of Payments

Stable Dividend: Whilst dividend payments have been stable, PIG has been paying a dividend for less than 10 years.

Growing Dividend: PIG's dividend payments have increased, but the company has only paid a dividend for 6 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (33.4%), PIG's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: PIG's dividends in 3 years are forecast to be well covered by earnings (21.3% payout ratio).


Next Steps

Management

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

17.7yrs

Average board tenure


CEO

Alexandre Saubot (54yo)

no data

Tenure

€436,055

Compensation

Mr. Alexandre Saubot serves as the Chief Operating Officer of Haulotte Group at Haulotte UK Ltd. Mr. Saubot serves as the President of Royans Levage S.A.S. He serves as Chief Executive Officer of Haulotte  ...


CEO Compensation Analysis

Compensation vs Market: Alexandre's total compensation ($USD475.16K) is above average for companies of similar size in the French market ($USD320.69K).

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


Board Members

NamePositionTenureCompensationOwnership
Alexandre Saubot
CEO & Executive Directorno data€436.06kno data
Pierre Saubot
Chairman31.33yrs€91.01kno data
José Monfront
Director15.67yrsno datano data
Elisa Saubot
Director22.33yrs€59.48kno data
Michel Bouton
Independent Director19.33yrsno datano data
Hadrien Saubot
Director16yrs€56.98kno data
Anne Fatôme
Independent Director2yrsno datano data
Elodie Galko
Independent Director2yrsno datano data

17.7yrs

Average Tenure

67yo

Average Age

Experienced Board: PIG's board of directors are seasoned and experienced ( 17.7 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

Haulotte Group SA's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Haulotte Group SA
  • Ticker: PIG
  • Exchange: ENXTPA
  • Founded: 1881
  • Industry: Construction Machinery and Heavy Trucks
  • Sector: Capital Goods
  • Market Cap: €128.254m
  • Shares outstanding: 29.52m
  • Website: https://www.haulotte.com

Number of Employees


Location

  • Haulotte Group SA
  • La PEronniEre
  • BP9
  • L'Horme
  • Rhône-Alpes
  • 42152
  • France

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
PIGENXTPA (Euronext Paris)YesOrdinary SharesFREURDec 1998
0HVALSE (London Stock Exchange)YesOrdinary SharesGBEURDec 1998
PIGPBATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary SharesGBEURDec 1998
PHTDB (Deutsche Boerse AG)YesOrdinary SharesDEEURDec 1998

Biography

Haulotte Group SA, through its subsidiaries, designs, manufactures, and sells people and material lifting equipment. It operates through Manufacturing and Sale of Equipment; Equipment Rental; and Services and Financing segments. Its products include people lifting equipment comprising articulating and telescopic booms, scissor lifts, vertical masts, push-arounds, self-propelled booms, and trailer mounted booms, as well as telehandlers for material lifting. The company also provides shield bar, lighting system, emission system, and screen, as well as apps for the lifting equipment. In addition, it offers spare parts; provides training, repairs, and financing services; and rents lifting equipment. The company markets and sells its products in Europe, the Asia Pacific, North America, and Latin America. Haulotte Group SA was founded in 1881 and is based in L'Horme, France. Haulotte Group SA is a subsidiary of Solem S.A.S. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/05/26 22:50
End of Day Share Price2020/05/26 00:00
Earnings2019/12/31
Annual Earnings2019/12/31


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.